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10 YEAR
<br />9-Oct-09
<br />PRAIRIE APARTMENTS HOUSING PARTNERS II, LP
<br />South Bend Portage Township
<br />Real Property Tax Abatement Schedule'
<br />Assessed Value'
<br />Current Assessed Value
<br />Base Assessed Value
<br />less Abatement Deduction
<br />Nel 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 />Nel Tax
<br />Circuit Breaker Cap
<br />Circuit Breaker
<br />Debt Service
<br />Circuit Braker Cap
<br />Tax Key Number
<br />Curcent Assessed Value:
<br />Estimated Protect Cost:
<br />100
<br />85%
<br />018-8153-5514.05
<br />16,000
<br />6,000.000
<br />Current W Ithout 100 % 95 % 80 % 65 % 50 %
<br />ars
<br />Y 40 %
<br />Year6 - 30 %
<br />earl 20 %
<br />Year 10 %
<br />Year9 5
<br />Year 10
<br />AV 8 Tax Abatement Ye r Y r ear
<br />1
<br />000 Year4
<br />000
<br />16 e
<br />16
<br />000 16,000 16,000 16,000 16,000 16,000
<br />16,000 16,000
<br />800
<br />000
<br />6 16,000
<br />800
<br />6
<br />000 16,000
<br />800,000
<br />6 6,
<br />6,800,000 ,
<br />6.800,000 ,
<br />6,800,000 6,800,000 6,800,000 6,800,000 6,600,000
<br />690 000 6,800,000
<br />000)
<br />(340
<br /> ,
<br />,
<br />0 ,
<br />,
<br />(6 800 000) ,
<br />(6 460 000) (5 440 000) (4 420 000)
<br />6
<br />000 (3 400 000)
<br />000
<br />416
<br />3 (2 720 000)
<br />4
<br />096
<br />000 (2 040 000)
<br />4 776 000 (1,360,000)
<br />5 456 000 )
<br />(
<br />6 136 000 ,
<br />6 476 000
<br />16,000 6,816,000 16,000 356,000 1,316,000 ,
<br />2,39 ,
<br />. ,
<br />,
<br />4.3075% 4.3015% 4.3015% 4.3015% 4.3015% 4.3015% ~ 4.3015% 4.3015% 4.3015% 4.3015% 4.3015% 4.3015%
<br />688 293,190 688 15,313 59,189 103,064 146,939 176,189 205,440 234,690 263,940 278,565
<br />(121) (51 379) 0 0 0 0 0 0 0 (327) (25,653) (38,616)
<br />568 241,811 688 15 313 59 189 103,064 146,939 176,189 205 440 234 363 238 087 239 949
<br />3.0000% 480 204,480 204,480 204,480 204,480 204,480 204,480 204,480 204,480 204,460 204,480 204,480
<br />0.5477% 568 241 811 204,568 206,430 212,016 217,603 223,189 226,914 230,638 234,363 238,087 239,949
<br /> New Combined Nel
<br /> Existing Project Existing 8 New Tax Tax
<br />Year Is~x€;: xe Iii 94dt~d P~4
<br />1 568 241,244 241,811 241,123 688
<br />2 568 241,244 241,811 226,498 15,313
<br />3 568 241,244 241,811 182,623 59,189
<br />4 566 241,244 241,811 138,747 103,064
<br />5 568 241,244 241,871 94,872 146,939
<br />6 568 241,244 241,811 65,622 176,189
<br />7 568 241,244 241,811 36,372 205,440
<br />8 568 241,244 241,811 7,449 234,363
<br />9 568 241,244 241,811 3,724 238,087
<br />10 568 241,244 241,811 3,724 238,087
<br />Totals 5 676 2 412 436 2 41 B 112 1,000,754 1,417,359
<br />`This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
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