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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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