Once adopted, may a governing board modify a project development financing plan?
Yes. A governing body may, after the effective date of the district, amend a project development financing plan adopted for a project development district. Before making any amendment, the governing body must follow the same procedural requirements prescribed for the adoption of the initial project development financing plan. The boundaries of the district may be enlarged only during the first five years after the effective date of the district and only if the area to be added has been or is about to be developed and the development is primarily attributable to development that has occurred within the district, as certified by the LGC. The boundaries of the district may be reduced at any time, but the unit may agree with the holders of any project development financing debt instruments to restrict its power to reduce district boundaries.
