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9 YEAR
<br />10-Jun-09
<br />Ontario Partners, LP
<br />Assessed Value:
<br />Current Assessed Value
<br />Base Assessed Value
<br />Less Abatement Deduction
<br />Net Assessed Value
<br />Prooertv 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 />Tax Key Number
<br />Current Assessed Value:
<br />Estimated Project Cosl:
<br />Current Without 100 % 88 % 77 % 66 % 55 % 44 % 33 % 22 % 11
<br />AV & Tax Abatement Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
<br />100 % 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000
<br />85 % 4,250,000 4,250,000 4,250,000 4,250,000 4,250,000 4,250,000 4,250,000 4,250,000 4,250,000 4,250,000
<br /> 0 (4 250 000) (3 740 000) (3 272 500) (2 805 000) (2 337 500) (1 870 000) (1.402 500) (935,000) (467,500)
<br />6,000 4,256,000 6,000 516,000 983,500 1,451.000 1,918,500 2,386,000 2,853,500 3,321.000 3,788,500
<br />4.2815% 4.2815% 4.2815% 4.2815% 4.2815% 4.2815% 4.2815% 4.2815% 4.2615% 4.2615% 4.2815
<br />257 182,221 257 22,093 42,109 62,125 82,141 102,157 122,173 142,189 162,205
<br />(44) (31 231) 0 0 0 0 0 0 0 0 (13,775)
<br />213 150 990 257 22,093 42,109 62.125 82,141 102,157 122,173 142,189 148,430
<br />3.0000 % 1 BO 127,680 127,680 127,680 127,680 127,680 127,680 127,680 127,680 127,680 127,680
<br />0.5477 ! 33 23 310 33 2 826 5,387 7,947 10,508 13,068 15,629 18,189 20,750
<br />213 150 990 127,713 130,506 133,067 135,627 138,188 140,748 143,309 145,869 148,430
<br />South Bend German Township
<br />Real Property Tax Abatement Schedule'
<br />NA
<br />6.000
<br />5,000,000
<br /> New Combined Net
<br /> Existing Project Existing 8 New Tax Tax
<br />Year Taxes Taxes Taxes Abated Paid
<br />1 213 150,777 150,990 150,733 257
<br />2 213 150,777 150,990 128,898 22,093
<br />3 213 150,777 150.990 108,882 42,109
<br />4 213 150,777 150,990 88,866 62,125
<br />5 213 150,777 150,990 68,850 82,141
<br />6 213 150,777 150.990 48,834 102,157
<br />7 213 150,777 150,990 26,818 122,173
<br />8 213 150,777 150,990 6,801 142,189
<br />9 213 150,777 150,990 2,560 148,430
<br />Totals 1,916 1,356,995 1,358,911 635,240 723,671
<br />'This schedule is for estimation purposes only and assumes constant taz 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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