Authorities tell Action News that the officers were at the intersection of North 21st Street and Norris Avenue just before 11:00 p.m.
Investigators say the officers tried to stop the man in connection to an earlier crime
Instead, they say, he ran. During the foot pursuit, the officers say, the man stopped and pulled out a knife.
When the suspect refused to drop the knife, police say they shot him once in the chest.
He was last listed in critical condition.
The man has not yet been identified.