The Metropolitan Council approved an ordinance to amend the Cayce Place and Jefferson Street Redevelopment Plans, managed by the Metropolitan Development and Housing Agency (MDHA). This ordinance introduces three main changes. First, it caps the portion of tax increment funds used for new indebtedness at 75%, though MDHA can adjust this based on established policy. Second, it mandates periodic assessments of TIF-eligible projects, to occur at least every ten years, to ensure alignment with plan goals. Failure to complete an assessment creates a 'New Loan Termination Event', halting new TIF-funded debt until resolved. Third, it clarifies that either the Metro Council or MDHA can initiate future plan amendments, correcting a procedural flaw from a 2019 ordinance where the Council improperly initiated amendments first.