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5 YEAR 6-May-20
<br />Midwest Family
<br />South Bend Portage Township
<br />Real Property Tax Abatement Schedule*
<br />Tax Key Number 71-018-55348-00
<br />Current Assessed Value: 0
<br />Estimated Project Cost:2,450,600
<br />Current Without 100% 100% 100% 100% 100%
<br />Assessed Value:AV&Tax Abatement Year 1 Year 2 Year 3 Year 4 Year 5
<br />Current Assessed Value 100% 0 0 0 0 0 0 0
<br />Base Assessed Value 80% 1,960,480 1,960,480 1,960,480 1,960,480 1,960,480 1,960,480
<br />Less Abatement Deduction 0 (1,960,480) (1,960,480) (1,960,480) (1,960,480) (1,960,480)
<br />Net Assessed Value 0 1.960,480 0 0 0 0 0
<br />Property Taxes:
<br />Assume constant tax rate of 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894%
<br />Gross Tax(tax rate x net assessed value) 0 99,776 0 0 0 0 0
<br />Less Circuit Breaker Credit 0 40,961) 0 0 0 0 0
<br />Net Tax 0 58,814 0 0 0 0 0
<br />Circuit Breaker Cap
<br />Circuit Breaker 3.0000% 0 58,814 58,814 58,814 58,814 58,814 58,814
<br />Debt Service 0.0000% 0 0 0 0 0 0 0
<br />Circuit Braker Cap 0 58,814 58.814 58,814 58,814 58,814 58,814
<br />New Combined Net
<br />Existing Project Existing&New Tax Tax
<br />Year Taxes Taxes Taxes Abated Paid
<br />1 0 58,814 58,814 58,814 0
<br />2 0 58,814 58,814 58,814 0
<br />3 0 58,814 58,814 58,814 0
<br />4 0 58,814 58,814 58,814 0
<br />5 0 58,814 58,814 58,814 0
<br />Totals 0 294,072 294,072 294,072 0
<br />This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates.
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