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10 YEAR
<br />Tax Key Number
<br />Current Assessed Value:
<br />Estimated Project Cost:
<br />Assessed Value
<br />Current Assessed Value
<br />Base Assessed Value
<br />Less Abatement Deduction
<br />Net Assessed Value
<br />Property Taxes.
<br />Assume constant tax rate of
<br />Gross Tax (tax rate x net assessed value)
<br />Less Circuit Breaker Credit
<br />Net Tax
<br />Circuit Breaker Cap
<br />Circuit Breaker
<br />Debt Service
<br />Circuit Braker Cap
<br />4-Sep-08
<br />Innovation Park
<br />South Bend Clay Township
<br />Real Property Tax Abatement Schedule'
<br />17- 1017 -0406
<br />210,000
<br />60,000,000
<br />Current
<br />Without
<br />100%
<br />95%
<br />80%
<br />65%
<br />50%
<br />40%
<br />30%
<br />20%
<br />10%
<br />5%
<br />AV & Tax
<br />Abatement
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Year 5
<br />Year 6
<br />Year 7
<br />Year 8
<br />Year 9
<br />Year 10
<br />100% 210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />85%
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />6
<br />0
<br />(51,000,000)
<br />(48,450,000)
<br />(40,800,000)
<br />(33 150,000)
<br />(25,500,000)
<br />(20,400,000)
<br />(15,300,000)
<br />(10,200,000)
<br />(5,100,000)
<br />(2,550,000)
<br />210,000
<br />51,210,000
<br />210,000
<br />2,760,000
<br />10,410,000
<br />18,060,000
<br />25,710,000
<br />30,810,000
<br />35,910,000
<br />41,010,000
<br />46,110,000
<br />48,660,000
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />9,003 2,195,424 9,003 118,324 446,287 774,250 1,102,213 1,320,856 1,539,498 1,758,140 1,976,782 2,086,103
<br />(1,553) (378,647) 0 0 0 0 0 0 0 0 (187,937) (283,292)
<br />7,450 1,816,777 9,003 118,324 446,287 774,250 1,102,213 1,320,856 1,539,498 1,758,140 1,788,844 1,802811
<br />3.0000% 6,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300 1,536,300
<br />0.5477% 1,150 280,477 1,150 15,117 57,016 98,915 140,814 168,746 196,679 224,612 252.544 266,511
<br />7,450 1,816,777 1,537,450 1,551,417 1,593,316 1,635,215 1,677,114 1,705,046 1,732,979 1,760,912 1,788.844 1,802 811
<br />'This schedule is for estimation purposes only and assumes constant lax rates. The true tax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates
<br />Filed In Clerk's Office
<br />ESP- 008
<br />CITY CLE?K, 30. OE D, ICJ.
<br />New
<br />Combined
<br />Net
<br />Existing
<br />Project
<br />Existing & New
<br />Tax
<br />Tax
<br />Year
<br />Taxes
<br />Taxes
<br />Taxes
<br />Abated
<br />Paid
<br />1
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,807,774
<br />9,003
<br />2
<br />7,450
<br />1,809.327
<br />1,816,777
<br />1,698,453
<br />118,324
<br />3
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,370,490
<br />446,287
<br />4
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,042,527
<br />774,250
<br />5
<br />7,450
<br />1,809,327
<br />1,816.777
<br />714,564
<br />1,102,213
<br />6
<br />7,450
<br />1,809,327
<br />1,816,777
<br />495,922
<br />1,320,856
<br />7
<br />7,450
<br />1,809,327
<br />1,816,777
<br />277,280
<br />1,539,498
<br />8
<br />7,450
<br />1,809,327
<br />1,816,777
<br />58,637
<br />1,758,140
<br />9
<br />7,450
<br />1,809,327
<br />1,816,777
<br />27,933
<br />1,788,844
<br />10
<br />7,450
<br />1,809,327
<br />1,816,777
<br />27,933
<br />1,788,844
<br />Totals
<br />74,502
<br />18,093,270
<br />18,167,772
<br />7,521,512
<br />10,646,259
<br />'This schedule is for estimation purposes only and assumes constant lax rates. The true tax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates
<br />Filed In Clerk's Office
<br />ESP- 008
<br />CITY CLE?K, 30. OE D, ICJ.
<br />
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