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I Pl <br />Crowe Horwath <br />Crowe Horwath LLP <br />Independent Member Crowe Horwath International <br />10 West Market Street, Suite 2000 <br />Indianapolis, Indiana 46204-2975 <br />Tel 317.632.1100 <br />Fax 317.635.6127 <br />w .crowehorwath.com <br />STATEMENT OF WORK <br />to that certain Master Services Agreement dated as of July 1, 2016 <br />Between City of South Bend, Indiana ("City") <br />and Crowe Horwath LLP ("Crowe") <br />Tax Increment Finance (TIF) Analysis <br />Description of Services and Deliverables <br />TIF Analysis <br />1. Analyze the proposed assessment parameters including timing of the proposed project. <br />2. Estimate incremental assessed value from the proposed project. <br />3. Estimate pro -forma TIF revenues from the proposed project. <br />4. Analyze outstanding TIF obligations of the TIF Area. <br />5. Analyze existing TIF revenues of the TIF Area. <br />6. Prepare a Consultant's Report dated July 28, 2016 that provides the estimated current and <br />pro -forma TIF revenues available. <br />Assumptions/Client Responsibilities <br />Client will provide financial data as requested by a data request letter. <br />Management Representative Brian Pawlowski, Acting Executive Director <br />Name/Title <br />Fees and Expenses <br />Professional fees for the scope of services described will be billed at our hourly rates and not <br />exceed $20,000 without the written consent of the City. Hourly rates are presented below: <br />Partner/Director $325 — 475 <br />Senior Manager 250 — 325 <br />Manager 175 — 250 <br />Staff 125 — 175 <br />Out-of-pocket expenses At cost <br />Professional fees for this TIF analysis will be paid out of the bond issue related to this project. <br />Should the project terminate prior to the issuance of the bonds we will invoice the City for the time <br />and materials through the date of project termination. <br />Out-of-pocket expenses paid by Crowe are billed to the City at cost. These expenses generally <br />include, but are not limited to, communication, printing, binding, electronic marketing, evaluation <br />software and travel expenses incurred on behalf of the client. Services requested which are <br />outside the scope of services listed herein will be described and quoted separately. <br />Page 1 of 3 <br />