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9 YEAR 19-Jan-22
<br />Greenleaf Holdco
<br />South Bend Portage Township
<br />Real Property Tax Abatement Schedule*
<br />Tax Key Number Multiple
<br />Current Assessed Value:0
<br />Estimated Project Cost:12,000,000
<br />Current Without 100%100%100%100%100%90%80%70%60%
<br />Assessed Value:AV & Tax Abatement Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
<br />Current Assessed Value 100%0 0 0 0 0 0 0 0 0 0 0
<br />Base Assessed Value 80%9,600,000 9,600,000 9,600,000 9,600,000 9,600,000 9,600,000 9,600,000 9,600,000 9,600,000 9,600,000
<br />Less Abatement Deduction 0 (9,600,000)(9,600,000)(9,600,000)(9,600,000)(9,600,000)(8,640,000)(7,680,000)(6,720,000)(5,760,000)
<br />Net Assessed Value 0 9,600,000 0 0 0 0 0 960,000 1,920,000 2,880,000 3,840,000
<br />Property Taxes:
<br />Assume constant tax rate of 5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%
<br />Gross Tax (tax rate x net assessed value)0 517,522 0 0 0 0 0 51,752 103,504 155,257 207,009
<br />Less Circuit Breaker Credit 0 (229,522)0 0 0 0 0 0 0 0 0
<br />Net Tax 0 288,000 0 0 0 0 0 51,752 103,504 155,257 207,009
<br />Circuit Breaker Cap
<br />Circuit Breaker 3.0000%0 288,000 288,000 288,000 288,000 288,000 288,000 288,000 288,000 288,000 288,000
<br />Debt Service 0.0000%0 0 0 0 0 0 0 0 0 0 0
<br />Circuit Braker Cap 0 288,000 288,000 288,000 288,000 288,000 288,000 288,000 288,000 288,000 288,000
<br />New Combined Net
<br />Existing Project Existing & New Tax Tax
<br />Year Taxes Taxes Taxes Abated Paid
<br />1 0 288,000 288,000 288,000 0
<br />2 0 288,000 288,000 288,000 0
<br />3 0 288,000 288,000 288,000 0
<br />4 0 288,000 288,000 288,000 0
<br />5 0 288,000 288,000 288,000 0
<br />6 0 288,000 288,000 236,248 51,752
<br />7 0 288,000 288,000 184,496 103,504
<br />8 0 288,000 288,000 132,743 155,257
<br />9 0 288,000 288,000 80,991 207,009
<br />Totals 0 2,592,000 2,592,000 2,074,478 517,522
<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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