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<br />5 YEAR
<br />31-Jul-13 E. ;" ci
<br />9 Ei
<br />Data Realty Q
<br />of
<br />South Bend Portage Township Gi ` t}-
<br />Persona!Property Tax Abatement Schedule" I() z
<br />9JTaxKeyNumber01. ,
<br />Current Assessed Value: 0 3
<br />Estimated Project Cost:7,929,766
<br />Y.
<br />E
<br />40% 60% 55% 45% 37%
<br />100% 80% 60% 40% 20%
<br />Year 1 Year 2 Year 3 Year 4 Year 5
<br />Current
<br />Assessed Value: AV&Tax Pay 2013 Pay 2014 Pay 2015 Pay 2016 Pay 2017CurrentAssessedValue100% 0 0 0 0 0 0BaseAssessedValue
<br />3,171,906 4,757,860 4,361,371 3,568,395 2,934,013essAbatementDeduction3,171,906) (3,806,288) (2,616,823) (1,427,358) (586,803)Net Assessed Value 0 0 951,572 1,744,549 2,141,037 2,347,211
<br />Property Taxes:
<br />Assume constant tax rate of 4.8951% 4.8951% 4.8951% 4.8951% 4.8951% 4.8951%
<br />Gross Tax(tax rate x net assessed value) 0 0 46,580 85,397 104,806 114,898LessCircuitBreakerCredit0000011,050)Net Tax
<br />0 0 46,580 85,397 104,806 103,849
<br />Circuit Breaker Cap
<br />Circuit Breaker 3.0000% 0 95,157 142,736 130,841 107,052 88,020DebtService0.6743% 0 0 6,417 11,764 14,438 15,828CircuitBrakerCap095.157 149,153 142,605 121,490 103,849
<br />New Combined Net l co90 19F ire!)AExistingProjectExisting&New Tax TaxYearTaxesTaxesTaxesAbatedpaid
<br />Pay 2011 0 116,547 116,547 116,547 0Pay20120174,820 174,820 128,240 46,580Pay20130160,252 160,252 74,854 85,397Pay20140131,115 131,115 26,309 104,806Pay20150107,806 107,806 3,957 103,849
<br />Totals 0 690,540 690540 349,907 340,633 p q Q3"1O
<br />This schedule is for estimation purposes only and assumes constant tax rates. The true tax values Jwillultimatelybedeterminedbytheactualassessedvaluationandthe!hen current tax rates. u.0 (Y t3 .....p j a-inn.
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