Resolution No. 3623 (Confirming TIF Expansion REDA) - Signed

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SOUTH BEND (INDIANA) REDEVELOPMENT COMMISSION ESTIMATED IMPACT OF AMENDING THE RIVER EAST DEVELOPMENT AREA AND RIVER EAST ALLOCATION AREA NO. 1 ON OVERLAPPING TAXING UNITS - PORTAGE TOWNSHIP TAXING DISTRICT (1) Net Assessed Estimated South Bend - Portage Township Tax Value of Property Taxing Unit Rate Taxing Unit Tax Levy SCENARIO I:PRESENT SITUATION Represents 2023 taxes payable 2024 property tax levies, assessed valuation, and tax rates. St. Joseph County $0.5593 $12,462,483,560 $69,702,670 St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 Portage Township 0.0440 2,619,977,095 1,152,790 South Bend Civil City 2.9583 3,645,470,284 107,843,947 South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 South Bend Community School Corporation 0.8982 6,706,293,024 60,235,924 South Bend Comm. School Corp. Exempt Debt Service - Operating Ref. Rate (2)0.3334 8,398,074,650 27,999,181 South Bend Comm. School Corp. Exempt Debt Service - Debt Ref. Rate 0.0506 8,398,074,650 4,249,426 St. Joseph County Public Library 0.2725 7,176,427,526 19,555,765 St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 Total Tax Rate (per $100 AV)$5.3548 Less: South Bend Community School Corporation Referendum Rates (3)(0.3840) Net Tax Rate (per $100 AV)$4.9708 Tax Incremental Estimated Circuit Net TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment River East Allocation Area No. 1 (4)$4.9708 $280,863,535 $13,961,160 ($5,945,650)$8,015,510 SCENARIO II:ASSUMES THE AREA, ALLOCATION AREA NO. 1, AND THE PLAN ARE AMENDED Rate Levy Represents the estimated tax impact of amending and expanding the Area and Allocation Area No. 1.Difference Difference Assumes the incremental assessed value from the Future Development is captured.From Scenario I From Scenario I St. Joseph County $0.5593 $12,462,483,560 $69,702,670 $0.0000 $0 St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 0.0000 0 St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 0.0000 0 Portage Township 0.0440 2,619,977,095 1,152,790 0.0000 0 South Bend Civil City 2.9583 3,645,470,284 107,843,947 0.0000 0 South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 0.0000 0 South Bend Community School Corporation 0.8982 6,706,293,024 60,235,924 0.0000 0 South Bend Comm. School Corp. Exempt Debt Service - Operating Ref. Rate (2)0.3334 8,418,074,650 28,065,861 0.0000 66,680 South Bend Comm. School Corp. Exempt Debt Service - Debt Ref. Rate 0.0505 8,418,074,650 4,249,426 (0.0001)0 St. Joseph County Public Library 0.2725 7,176,427,526 19,555,765 0.0000 0 St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 0.0000 0 St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 0.0000 0 South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 0.0000 0 St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 0.0000 0 Total Tax Rate (per $100 AV)$5.3547 ($0.0001)$66,680 Less: South Bend Community School Corporation Referendum Rates (3)(0.3839) Net Tax Rate (per $100 AV)$4.9708 Tax Incremental Estimated Circuit Net TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment River East Allocation Area No. 1 (4)$4.9708 $280,863,535 $13,961,160 ($5,945,650)$8,015,510 Expansion Allocation Area - Future Development 4.9708 10,000,000 497,080 (135,600)361,480 SCENARIO III:ASSUMES THE AREA, ALLOCATION AREA NO. 1, AND THE PLAN ARE NOT AMENDED Rate Levy Assumes the Area and Allocation Area No. 1 are not amended and therefore, the Expansion Areas and Expansion Difference Difference Allocation Area are not established. Assumes the Projects cannot be funded and the Future Development does not occur. From Scenario I From Scenario I St. Joseph County $0.5593 $12,462,483,560 $69,702,670 $0.0000 $0 St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 0.0000 0 St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 0.0000 0 Portage Township 0.0440 2,619,977,095 1,152,790 0.0000 0 South Bend Civil City 2.9583 3,645,470,284 107,843,947 0.0000 0 South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 0.0000 0 South Bend Community School Corporation 0.8982 6,706,293,024 60,235,924 0.0000 0 South Bend Comm. School Corp. Exempt Debt Service - Operating Ref. Rate (2)0.3334 8,398,074,650 27,999,181 0.0000 0 South Bend Comm. School Corp. Exempt Debt Service - Debt Ref. Rate 0.0506 8,398,074,650 4,249,426 0.0000 0 St. Joseph County Public Library 0.2725 7,176,427,526 19,555,765 0.0000 0 St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 0.0000 0 St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 0.0000 0 South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 0.0000 0 St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 0.0000 0 Total Tax Rate (per $100 AV)$5.3548 $0.0000 $0 Less: South Bend Community School Corporation Referendum Rates (3)(0.3840) Net Tax Rate (per $100 AV)$4.9708 Tax Incremental Estimated Circuit Net TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment River East Allocation Area No. 1 (4)$4.9708 $280,863,535 $13,961,160 ($5,945,650)$8,015,510 (1) Based on information provided from the 2024 Budget Order. (2) Tax rates are not adjusted for rate-driven funds. Assumes these funds are maintained at their current rates. (3) Referendum rates established after 2009 cannot be captured by a TIF Allocation Area. (4) Assessed value and Circuit Breaker Tax Credit information per the St. Joseph County Auditor's office. 6 (Subject to the attached Impact Statement dated November 25, 2024 of Baker Tilly Municipal Advisors, LLC)