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5 YEAR 19-Jan-22
<br />Greenleaf Holdco
<br />South Bend Portage Township
<br />Personal Property Tax Abatement Schedule*
<br />Tax Key Number TBD
<br />Current Assessed Value:0
<br />Estimated Project Cost:68,000,000
<br />100%100%100%100%100%
<br />Year 1 Year 2 Year 3 Year 4 Year 5
<br />Current
<br />Assessed Value:AV & Tax
<br />Current Assessed Value 100%0 0 0 0 0 0
<br />Base Assessed Value 27,200,000 40,800,000 37,400,000 30,600,000 25,160,000
<br />Less Abatement Deduction (27,200,000)(40,800,000)(37,400,000)(30,600,000)(25,160,000)
<br />Net Assessed Value 0 0 0 0 0 0
<br />Property Taxes:
<br />Assume constant tax rate of 5.3909%5.3909%5.3909%5.3909%5.3909%5.3909%
<br />Gross Tax (tax rate x net assessed value)0 0 0 0 0 0
<br />Less Circuit Breaker Credit 0 0 0 0 0 0
<br />Net Tax 0 0 0 0 0 0
<br />Circuit Breaker Cap
<br />Circuit Breaker 3.0000%0 816,000 1,224,000 1,122,000 918,000 754,800
<br />Debt Service 0.0000%0 0 0 0 0 0
<br />Circuit Braker Cap 0 816,000 1,224,000 1,122,000 918,000 754,800
<br />New Combined Net
<br />Existing Project Existing & New Tax Tax
<br />Year Taxes Taxes Taxes Abated Paid
<br />Year 1 0 816,000 816,000 816,000 0
<br />Year 2 0 1,224,000 1,224,000 1,224,000 0
<br />Year 3 0 1,122,000 1,122,000 1,122,000 0
<br />Year 4 0 918,000 918,000 918,000 0
<br />Year 5 0 754,800 754,800 754,800 0
<br />Totals 0 4,834,800 4,834,800 4,834,800 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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