1

EXHIBIT A

CITY OF DETROIT BROWNFIELD REDEVELOPMENT AUTHORITY

BROWNFIELD PLAN FOR THE PETIT BATEAU LLC

DEVELOPMENT PROJECT

July 17 2019

Prepared by Petit Bateau LLC 421 East Ferry Detroit Michigan 48202 Contact Person Julio Bateau Phone (313) 363-9485 discovereastferrygmailcom Warner Norcross amp Judd LLP 900 Fifth Third Center 111 Lyon Street NW Grand Rapids Michigan 49503 Contact Person Jared T Belka Phone (616) 752-2447 jbelkawnjcom

2

CITY OF DETROIT BROWNFIELD REDEVELOPMENT AUTHORITY

BROWNFIELD PLAN

TABLE OF CONTENTS

I INTRODUCTION I-1

II GENERAL PROVISIONS

A Description of Eligible Property II-2

B Basis of Eligibility II-3

C Summary of Eligible Activities II-3

D Estimate of Captured Taxable Value and Tax II-4 Increment Revenues Impact of Tax Increment Financing on Taxing Jurisdictions

E Plan of Financing Maximum Amount II-5 Of Indebtedness

F Duration of Plan II-6

G Effective Date of Inclusion II-6

H DisplacementRelocation of Individuals II-6

On Eligible Property

I Local Brownfield Revolving Fund (LBRF) II-6

J Brownfield Redevelopment Fund II-7

K Developer Obligations Representations and Warrants II-8

III ATTACHMENTS

A Site Map A-1-2 B Legal Description(s) B-1

C Project Description C-1

D Supportive Letters D-1

E Estimated Cost of Eligible Activities E-1

3

F TIF Tables F-1-3

G Environmental Documents G-1

H Incentives Chart H-1

I INTRODUCTION In order to promote the revitalization of environmentally distressed and blighted areas within the boundaries of the City of Detroit Michigan (the ldquoCityrdquo) the City has established the City of Detroit Brownfield Redevelopment Authority (the ldquoDBRArdquo) pursuant to Michigan Public Act 381 of 1996 as amended (ldquoAct 381rdquo) The primary purpose of this Brownfield Plan (ldquoPlanrdquo) is to promote the redevelopment of and private investment in certain ldquobrownfieldrdquo properties within the City Inclusion of property within this Plan will facilitate financing of environmental response and other eligible activities at eligible properties and will also provide tax incentives to eligible taxpayers willing to invest in revitalization of eligible sites commonly referred to as ldquobrownfieldsrdquo By facilitating redevelopment of brownfield properties this Plan is intended to promote economic growth for the benefit of the residents of the City and all taxing units located within and benefited by the DBRA This Plan is intended to apply to the eligible property identified in this Plan and if tax increment revenues are proposed to be captured from that eligible property to identify and authorize the eligible activities to be funded by such tax increment revenues This Plan is intended to be a living document which may be modified or amended in accordance with the requirements of Act 381 as necessary to achieve the purposes of Act 381 The identification or designation of a developer or proposed use of the eligible property shall not necessitate an amendment to this Plan affect the application of this Plan to the eligible property or impair the rights available to the DBRA under this Plan The applicable sections of Act 381 are noted throughout the Plan for reference purposes This Plan describes the project to be completed (see Attachment C) and contains all the information required by Section 13(2) of Act 381

II GENERAL PROVISIONS A Description of the Eligible Property (Section 13 (2)(h)) and the Project The eligible property consists of the entire City of Detroit block bounded by Beaubien Street Frederick Street St Antoine Street and the alleyway and is comprised of seven (7) parcels of land (503 511 525 541 555 561 and 565 Frederick Street) Detroit Wayne County containing approximately 151 acres of vacant land The parcels described herein and all new taxable tangible personal property located thereon will comprise the eligible property under this Plan and is referred to herein as the ldquoPropertyrdquo With the exception of the 511 Frederick parcel which is adjacent and contiguous the balance of the Property is considered a ldquofacilityrdquo due to the presence of ethylbenzene arsenic chromium and selenium in the soil at levels exceeding acceptable screening levels The Property has been vacant for years and was historically occupied by residential multi-family apartments a church and an auto repair shop Attachment A includes a site map of the Property Parcel information for the Property is outlined below Attachment B provides the individual legal descriptions for the Property

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481 Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482 Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483 Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6 Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8 Owner Petit Bateau LLC Address 561 Frederick Parcel ID 03001489001

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Petit Bateau LLC (ldquoDeveloperrdquo) is the project developer Developer intends to prepare the Property for the construction of a five (5) story mixed-use building (ldquoEast Buildingrdquo) a four (4) story mixed-use building (ldquoWest Buildingrdquo) and approximately twenty (20) residential townhomes along with associated site improvements (the ldquoProjectrdquo) The Project will include a total of approximately eighty-five (85) units with the East Building containing approximately thirty-nine (39) units with approximately 3200 SF of commercial space the West Building containing approximately twenty-six (26) units and approximately twenty (20) townhome units It is currently anticipated construction will begin in the fall of 2019 and eligible activities will be completed within 3-6 months from the commencement of construction The project description provided herein is a summary of the proposed development at the time of the adoption of the Plan The actual development may vary from the project description provided herein without necessitating an amendment to this Plan so long as such variations are not material and arise as a result of changes in market andor financing conditions affecting the Project andor are related to the addition or immaterial removal of amenities to the Project Notwithstanding anything to the contrary contained herein all material changes as determined by DBRA in its sole discretion to the project description are subject to the approval of the DBRA staff and shall be consistent with the overall nature of the proposed development its proposed public purpose and the purposes of Act 381 Attachment C provides a description of the Project to be completed at the Property and Attachment D includes letters of support for the Project B Basis of Eligibility (Section 13 (2)(h) and Section 2 (o)) Except for the 511 Frederick parcel the balance of the Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 because (a) the Property was previously utilized for a commercial industrial public or residential purpose (b) it is located within the City of Detroit a qualified local governmental unit under Act 381 and (c) the Property was determined to be a ldquofacilityrdquo as defined by Act 381 The 511 Frederick parcel is adjacent and contiguous to the balance of the Property and is also considered ldquoeligible propertyrdquo The Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 due to the presence of ethylbenzene arsenic chromium and selenium in the soil above the EGLE Part 201 Generic Cleanup Criteria (GCC) as well as the 511 Frederick parcel being adjacent and contiguous Therefore based on the results of the analytical sampling the Property is classified as a ldquofacilityrdquo under Part 201of the Natural Resources and Environmental Protection Act 451 PA 1994 as amended (ldquoAct 451rdquo) The individual parcels may be combined at a later date during the development process Attachment G includes a confirmation of the ldquofacilityrdquo status C Summary of Eligible Activities and Description of Costs (Section 13 (2)(a)(b)) The ldquoeligible activitiesrdquo that are intended to be carried out at the Property are considered ldquoeligible activitiesrdquo as defined by Section 2 of Act 381 because they include baseline

environmental assessment activities demolition lead and asbestos abatement department specific activities site preparation infrastructure improvements and the development and preparation of brownfield plan and work plan A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax increment revenues from the Property are shown in the table attached hereto as Attachment E The eligible activities described in Attachment E are not exhaustive Subject to the approval of DBRA staff in writing additional eligible activities may be carried out at the Property without requiring an amendment to this Plan so long as such eligible activities are permitted by Act 381 and the cost of such eligible activities does not exceed the total costs stated in Attachment E Unless otherwise agreed to in writing by the DBRA all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and will be completed within three (3) years after approval of the Michigan Strategic Fund (ldquoMSFrdquo) work plan if applicable or three (3) years after execution of the Reimbursement Agreement (as that term is defined below) whichever is later Any long-term monitoring or operation and maintenance activities or obligations that may be required will be performed in compliance with the terms of this Plan and any documents prepared pursuant to this Plan The Developer desires to be reimbursed for the costs of eligible activities incurred by it as described below Some eligible activities may commence prior to the adoption of this Plan and to the extent permitted by Act 381 shall be reimbursable pursuant to the Reimbursement Agreement Tax increment revenue generated by the Property will be captured by the DBRA and used to reimburse the cost of the eligible activities completed on the Property pursuant to the terms of a Reimbursement Agreement to be executed by the DBRA and the Developer after approval of this Plan (the ldquoReimbursement Agreementrdquo) to the extent permitted by Act 381 In the event this Plan contemplates the capture of tax increment revenue derived from ldquotaxes levied for school operating purposesrdquo (as defined by Section 2(uu) of Act 381 and hereinafter referred to as ldquoSchool Taxesrdquo) the Developer acknowledges and agrees that DBRArsquos obligation to reimburse the Developer for the cost of eligible activities with tax increment revenue derived from Local Taxes or Specific Taxes that are considered Local Taxes (as these capitalized terms are defined by Act 381) is contingent upon (i) the Developer receiving at least the initial applicable work plan approvals by the MSF and the Michigan Department of Environment Great Lakes and Energy (ldquoEGLErdquo) as may be required pursuant to Act 381 within 180 days after the date this Plan is approved by the governing body or such other date as the DBRA may agree to in writing or (ii) the Developer providing the DBRA with evidence satisfactory to DBRA that the Developer has the financial means to complete the project without the capture of and subsequent reimbursement with the contemplated School Taxes The costs listed in Attachment E are estimated costs and may increase or decrease depending on the nature and extent of any environmental contamination and other unknown conditions encountered on the Property The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax increment

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

3

F TIF Tables F-1-3

G Environmental Documents G-1

H Incentives Chart H-1

I INTRODUCTION In order to promote the revitalization of environmentally distressed and blighted areas within the boundaries of the City of Detroit Michigan (the ldquoCityrdquo) the City has established the City of Detroit Brownfield Redevelopment Authority (the ldquoDBRArdquo) pursuant to Michigan Public Act 381 of 1996 as amended (ldquoAct 381rdquo) The primary purpose of this Brownfield Plan (ldquoPlanrdquo) is to promote the redevelopment of and private investment in certain ldquobrownfieldrdquo properties within the City Inclusion of property within this Plan will facilitate financing of environmental response and other eligible activities at eligible properties and will also provide tax incentives to eligible taxpayers willing to invest in revitalization of eligible sites commonly referred to as ldquobrownfieldsrdquo By facilitating redevelopment of brownfield properties this Plan is intended to promote economic growth for the benefit of the residents of the City and all taxing units located within and benefited by the DBRA This Plan is intended to apply to the eligible property identified in this Plan and if tax increment revenues are proposed to be captured from that eligible property to identify and authorize the eligible activities to be funded by such tax increment revenues This Plan is intended to be a living document which may be modified or amended in accordance with the requirements of Act 381 as necessary to achieve the purposes of Act 381 The identification or designation of a developer or proposed use of the eligible property shall not necessitate an amendment to this Plan affect the application of this Plan to the eligible property or impair the rights available to the DBRA under this Plan The applicable sections of Act 381 are noted throughout the Plan for reference purposes This Plan describes the project to be completed (see Attachment C) and contains all the information required by Section 13(2) of Act 381

II GENERAL PROVISIONS A Description of the Eligible Property (Section 13 (2)(h)) and the Project The eligible property consists of the entire City of Detroit block bounded by Beaubien Street Frederick Street St Antoine Street and the alleyway and is comprised of seven (7) parcels of land (503 511 525 541 555 561 and 565 Frederick Street) Detroit Wayne County containing approximately 151 acres of vacant land The parcels described herein and all new taxable tangible personal property located thereon will comprise the eligible property under this Plan and is referred to herein as the ldquoPropertyrdquo With the exception of the 511 Frederick parcel which is adjacent and contiguous the balance of the Property is considered a ldquofacilityrdquo due to the presence of ethylbenzene arsenic chromium and selenium in the soil at levels exceeding acceptable screening levels The Property has been vacant for years and was historically occupied by residential multi-family apartments a church and an auto repair shop Attachment A includes a site map of the Property Parcel information for the Property is outlined below Attachment B provides the individual legal descriptions for the Property

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481 Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482 Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483 Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6 Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8 Owner Petit Bateau LLC Address 561 Frederick Parcel ID 03001489001

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Petit Bateau LLC (ldquoDeveloperrdquo) is the project developer Developer intends to prepare the Property for the construction of a five (5) story mixed-use building (ldquoEast Buildingrdquo) a four (4) story mixed-use building (ldquoWest Buildingrdquo) and approximately twenty (20) residential townhomes along with associated site improvements (the ldquoProjectrdquo) The Project will include a total of approximately eighty-five (85) units with the East Building containing approximately thirty-nine (39) units with approximately 3200 SF of commercial space the West Building containing approximately twenty-six (26) units and approximately twenty (20) townhome units It is currently anticipated construction will begin in the fall of 2019 and eligible activities will be completed within 3-6 months from the commencement of construction The project description provided herein is a summary of the proposed development at the time of the adoption of the Plan The actual development may vary from the project description provided herein without necessitating an amendment to this Plan so long as such variations are not material and arise as a result of changes in market andor financing conditions affecting the Project andor are related to the addition or immaterial removal of amenities to the Project Notwithstanding anything to the contrary contained herein all material changes as determined by DBRA in its sole discretion to the project description are subject to the approval of the DBRA staff and shall be consistent with the overall nature of the proposed development its proposed public purpose and the purposes of Act 381 Attachment C provides a description of the Project to be completed at the Property and Attachment D includes letters of support for the Project B Basis of Eligibility (Section 13 (2)(h) and Section 2 (o)) Except for the 511 Frederick parcel the balance of the Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 because (a) the Property was previously utilized for a commercial industrial public or residential purpose (b) it is located within the City of Detroit a qualified local governmental unit under Act 381 and (c) the Property was determined to be a ldquofacilityrdquo as defined by Act 381 The 511 Frederick parcel is adjacent and contiguous to the balance of the Property and is also considered ldquoeligible propertyrdquo The Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 due to the presence of ethylbenzene arsenic chromium and selenium in the soil above the EGLE Part 201 Generic Cleanup Criteria (GCC) as well as the 511 Frederick parcel being adjacent and contiguous Therefore based on the results of the analytical sampling the Property is classified as a ldquofacilityrdquo under Part 201of the Natural Resources and Environmental Protection Act 451 PA 1994 as amended (ldquoAct 451rdquo) The individual parcels may be combined at a later date during the development process Attachment G includes a confirmation of the ldquofacilityrdquo status C Summary of Eligible Activities and Description of Costs (Section 13 (2)(a)(b)) The ldquoeligible activitiesrdquo that are intended to be carried out at the Property are considered ldquoeligible activitiesrdquo as defined by Section 2 of Act 381 because they include baseline

environmental assessment activities demolition lead and asbestos abatement department specific activities site preparation infrastructure improvements and the development and preparation of brownfield plan and work plan A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax increment revenues from the Property are shown in the table attached hereto as Attachment E The eligible activities described in Attachment E are not exhaustive Subject to the approval of DBRA staff in writing additional eligible activities may be carried out at the Property without requiring an amendment to this Plan so long as such eligible activities are permitted by Act 381 and the cost of such eligible activities does not exceed the total costs stated in Attachment E Unless otherwise agreed to in writing by the DBRA all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and will be completed within three (3) years after approval of the Michigan Strategic Fund (ldquoMSFrdquo) work plan if applicable or three (3) years after execution of the Reimbursement Agreement (as that term is defined below) whichever is later Any long-term monitoring or operation and maintenance activities or obligations that may be required will be performed in compliance with the terms of this Plan and any documents prepared pursuant to this Plan The Developer desires to be reimbursed for the costs of eligible activities incurred by it as described below Some eligible activities may commence prior to the adoption of this Plan and to the extent permitted by Act 381 shall be reimbursable pursuant to the Reimbursement Agreement Tax increment revenue generated by the Property will be captured by the DBRA and used to reimburse the cost of the eligible activities completed on the Property pursuant to the terms of a Reimbursement Agreement to be executed by the DBRA and the Developer after approval of this Plan (the ldquoReimbursement Agreementrdquo) to the extent permitted by Act 381 In the event this Plan contemplates the capture of tax increment revenue derived from ldquotaxes levied for school operating purposesrdquo (as defined by Section 2(uu) of Act 381 and hereinafter referred to as ldquoSchool Taxesrdquo) the Developer acknowledges and agrees that DBRArsquos obligation to reimburse the Developer for the cost of eligible activities with tax increment revenue derived from Local Taxes or Specific Taxes that are considered Local Taxes (as these capitalized terms are defined by Act 381) is contingent upon (i) the Developer receiving at least the initial applicable work plan approvals by the MSF and the Michigan Department of Environment Great Lakes and Energy (ldquoEGLErdquo) as may be required pursuant to Act 381 within 180 days after the date this Plan is approved by the governing body or such other date as the DBRA may agree to in writing or (ii) the Developer providing the DBRA with evidence satisfactory to DBRA that the Developer has the financial means to complete the project without the capture of and subsequent reimbursement with the contemplated School Taxes The costs listed in Attachment E are estimated costs and may increase or decrease depending on the nature and extent of any environmental contamination and other unknown conditions encountered on the Property The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax increment

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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253G0=gt234H06lt62L2J2851lt8

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lt=35=1lt

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lt=35=1lt

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lt=35=1lt

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lt=35=1lt

ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

I INTRODUCTION In order to promote the revitalization of environmentally distressed and blighted areas within the boundaries of the City of Detroit Michigan (the ldquoCityrdquo) the City has established the City of Detroit Brownfield Redevelopment Authority (the ldquoDBRArdquo) pursuant to Michigan Public Act 381 of 1996 as amended (ldquoAct 381rdquo) The primary purpose of this Brownfield Plan (ldquoPlanrdquo) is to promote the redevelopment of and private investment in certain ldquobrownfieldrdquo properties within the City Inclusion of property within this Plan will facilitate financing of environmental response and other eligible activities at eligible properties and will also provide tax incentives to eligible taxpayers willing to invest in revitalization of eligible sites commonly referred to as ldquobrownfieldsrdquo By facilitating redevelopment of brownfield properties this Plan is intended to promote economic growth for the benefit of the residents of the City and all taxing units located within and benefited by the DBRA This Plan is intended to apply to the eligible property identified in this Plan and if tax increment revenues are proposed to be captured from that eligible property to identify and authorize the eligible activities to be funded by such tax increment revenues This Plan is intended to be a living document which may be modified or amended in accordance with the requirements of Act 381 as necessary to achieve the purposes of Act 381 The identification or designation of a developer or proposed use of the eligible property shall not necessitate an amendment to this Plan affect the application of this Plan to the eligible property or impair the rights available to the DBRA under this Plan The applicable sections of Act 381 are noted throughout the Plan for reference purposes This Plan describes the project to be completed (see Attachment C) and contains all the information required by Section 13(2) of Act 381

II GENERAL PROVISIONS A Description of the Eligible Property (Section 13 (2)(h)) and the Project The eligible property consists of the entire City of Detroit block bounded by Beaubien Street Frederick Street St Antoine Street and the alleyway and is comprised of seven (7) parcels of land (503 511 525 541 555 561 and 565 Frederick Street) Detroit Wayne County containing approximately 151 acres of vacant land The parcels described herein and all new taxable tangible personal property located thereon will comprise the eligible property under this Plan and is referred to herein as the ldquoPropertyrdquo With the exception of the 511 Frederick parcel which is adjacent and contiguous the balance of the Property is considered a ldquofacilityrdquo due to the presence of ethylbenzene arsenic chromium and selenium in the soil at levels exceeding acceptable screening levels The Property has been vacant for years and was historically occupied by residential multi-family apartments a church and an auto repair shop Attachment A includes a site map of the Property Parcel information for the Property is outlined below Attachment B provides the individual legal descriptions for the Property

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481 Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482 Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483 Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6 Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8 Owner Petit Bateau LLC Address 561 Frederick Parcel ID 03001489001

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Petit Bateau LLC (ldquoDeveloperrdquo) is the project developer Developer intends to prepare the Property for the construction of a five (5) story mixed-use building (ldquoEast Buildingrdquo) a four (4) story mixed-use building (ldquoWest Buildingrdquo) and approximately twenty (20) residential townhomes along with associated site improvements (the ldquoProjectrdquo) The Project will include a total of approximately eighty-five (85) units with the East Building containing approximately thirty-nine (39) units with approximately 3200 SF of commercial space the West Building containing approximately twenty-six (26) units and approximately twenty (20) townhome units It is currently anticipated construction will begin in the fall of 2019 and eligible activities will be completed within 3-6 months from the commencement of construction The project description provided herein is a summary of the proposed development at the time of the adoption of the Plan The actual development may vary from the project description provided herein without necessitating an amendment to this Plan so long as such variations are not material and arise as a result of changes in market andor financing conditions affecting the Project andor are related to the addition or immaterial removal of amenities to the Project Notwithstanding anything to the contrary contained herein all material changes as determined by DBRA in its sole discretion to the project description are subject to the approval of the DBRA staff and shall be consistent with the overall nature of the proposed development its proposed public purpose and the purposes of Act 381 Attachment C provides a description of the Project to be completed at the Property and Attachment D includes letters of support for the Project B Basis of Eligibility (Section 13 (2)(h) and Section 2 (o)) Except for the 511 Frederick parcel the balance of the Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 because (a) the Property was previously utilized for a commercial industrial public or residential purpose (b) it is located within the City of Detroit a qualified local governmental unit under Act 381 and (c) the Property was determined to be a ldquofacilityrdquo as defined by Act 381 The 511 Frederick parcel is adjacent and contiguous to the balance of the Property and is also considered ldquoeligible propertyrdquo The Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 due to the presence of ethylbenzene arsenic chromium and selenium in the soil above the EGLE Part 201 Generic Cleanup Criteria (GCC) as well as the 511 Frederick parcel being adjacent and contiguous Therefore based on the results of the analytical sampling the Property is classified as a ldquofacilityrdquo under Part 201of the Natural Resources and Environmental Protection Act 451 PA 1994 as amended (ldquoAct 451rdquo) The individual parcels may be combined at a later date during the development process Attachment G includes a confirmation of the ldquofacilityrdquo status C Summary of Eligible Activities and Description of Costs (Section 13 (2)(a)(b)) The ldquoeligible activitiesrdquo that are intended to be carried out at the Property are considered ldquoeligible activitiesrdquo as defined by Section 2 of Act 381 because they include baseline

environmental assessment activities demolition lead and asbestos abatement department specific activities site preparation infrastructure improvements and the development and preparation of brownfield plan and work plan A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax increment revenues from the Property are shown in the table attached hereto as Attachment E The eligible activities described in Attachment E are not exhaustive Subject to the approval of DBRA staff in writing additional eligible activities may be carried out at the Property without requiring an amendment to this Plan so long as such eligible activities are permitted by Act 381 and the cost of such eligible activities does not exceed the total costs stated in Attachment E Unless otherwise agreed to in writing by the DBRA all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and will be completed within three (3) years after approval of the Michigan Strategic Fund (ldquoMSFrdquo) work plan if applicable or three (3) years after execution of the Reimbursement Agreement (as that term is defined below) whichever is later Any long-term monitoring or operation and maintenance activities or obligations that may be required will be performed in compliance with the terms of this Plan and any documents prepared pursuant to this Plan The Developer desires to be reimbursed for the costs of eligible activities incurred by it as described below Some eligible activities may commence prior to the adoption of this Plan and to the extent permitted by Act 381 shall be reimbursable pursuant to the Reimbursement Agreement Tax increment revenue generated by the Property will be captured by the DBRA and used to reimburse the cost of the eligible activities completed on the Property pursuant to the terms of a Reimbursement Agreement to be executed by the DBRA and the Developer after approval of this Plan (the ldquoReimbursement Agreementrdquo) to the extent permitted by Act 381 In the event this Plan contemplates the capture of tax increment revenue derived from ldquotaxes levied for school operating purposesrdquo (as defined by Section 2(uu) of Act 381 and hereinafter referred to as ldquoSchool Taxesrdquo) the Developer acknowledges and agrees that DBRArsquos obligation to reimburse the Developer for the cost of eligible activities with tax increment revenue derived from Local Taxes or Specific Taxes that are considered Local Taxes (as these capitalized terms are defined by Act 381) is contingent upon (i) the Developer receiving at least the initial applicable work plan approvals by the MSF and the Michigan Department of Environment Great Lakes and Energy (ldquoEGLErdquo) as may be required pursuant to Act 381 within 180 days after the date this Plan is approved by the governing body or such other date as the DBRA may agree to in writing or (ii) the Developer providing the DBRA with evidence satisfactory to DBRA that the Developer has the financial means to complete the project without the capture of and subsequent reimbursement with the contemplated School Taxes The costs listed in Attachment E are estimated costs and may increase or decrease depending on the nature and extent of any environmental contamination and other unknown conditions encountered on the Property The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax increment

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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C-05C0253G0=gt234H06lt62L2 $2851lt82+)2lt32-=07

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253G0=gt234H06lt62L2J2851lt8

53G0=gt23ltc-03lt622L2DJ2851lt82d22amp2-=082L2DJ2+E72851lt8

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5=6815lt253lt523ltc-03lt62L22851lt82d2)28cD2D2lt32851lt2L2EJ 28cD2D

5=6815lt253lt5234H06lt62L2EAJ28cD2D

8956lt23ltlt823ltc-03lt62L2)2lt32 $28cD2D2L2E28cD2D23ltc-03lt62g2 $2L223ltlt8

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14=1D

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0152534-=625

53G0=gt248

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gt5lt623589

3lt1lt5

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3lt5

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84

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Blt8258D

(AE$28cD2D

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4560=gt

f4=lt

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015

14=1D

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amp(2ltd080=gt

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H08043

lt=35=1lt

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lt=35=1lt

H08043

lt=35=1lt

3lt806lt=1lt

lt=35=1lt

ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

II GENERAL PROVISIONS A Description of the Eligible Property (Section 13 (2)(h)) and the Project The eligible property consists of the entire City of Detroit block bounded by Beaubien Street Frederick Street St Antoine Street and the alleyway and is comprised of seven (7) parcels of land (503 511 525 541 555 561 and 565 Frederick Street) Detroit Wayne County containing approximately 151 acres of vacant land The parcels described herein and all new taxable tangible personal property located thereon will comprise the eligible property under this Plan and is referred to herein as the ldquoPropertyrdquo With the exception of the 511 Frederick parcel which is adjacent and contiguous the balance of the Property is considered a ldquofacilityrdquo due to the presence of ethylbenzene arsenic chromium and selenium in the soil at levels exceeding acceptable screening levels The Property has been vacant for years and was historically occupied by residential multi-family apartments a church and an auto repair shop Attachment A includes a site map of the Property Parcel information for the Property is outlined below Attachment B provides the individual legal descriptions for the Property

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481 Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482 Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483 Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6 Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8 Owner Petit Bateau LLC Address 561 Frederick Parcel ID 03001489001

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Petit Bateau LLC (ldquoDeveloperrdquo) is the project developer Developer intends to prepare the Property for the construction of a five (5) story mixed-use building (ldquoEast Buildingrdquo) a four (4) story mixed-use building (ldquoWest Buildingrdquo) and approximately twenty (20) residential townhomes along with associated site improvements (the ldquoProjectrdquo) The Project will include a total of approximately eighty-five (85) units with the East Building containing approximately thirty-nine (39) units with approximately 3200 SF of commercial space the West Building containing approximately twenty-six (26) units and approximately twenty (20) townhome units It is currently anticipated construction will begin in the fall of 2019 and eligible activities will be completed within 3-6 months from the commencement of construction The project description provided herein is a summary of the proposed development at the time of the adoption of the Plan The actual development may vary from the project description provided herein without necessitating an amendment to this Plan so long as such variations are not material and arise as a result of changes in market andor financing conditions affecting the Project andor are related to the addition or immaterial removal of amenities to the Project Notwithstanding anything to the contrary contained herein all material changes as determined by DBRA in its sole discretion to the project description are subject to the approval of the DBRA staff and shall be consistent with the overall nature of the proposed development its proposed public purpose and the purposes of Act 381 Attachment C provides a description of the Project to be completed at the Property and Attachment D includes letters of support for the Project B Basis of Eligibility (Section 13 (2)(h) and Section 2 (o)) Except for the 511 Frederick parcel the balance of the Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 because (a) the Property was previously utilized for a commercial industrial public or residential purpose (b) it is located within the City of Detroit a qualified local governmental unit under Act 381 and (c) the Property was determined to be a ldquofacilityrdquo as defined by Act 381 The 511 Frederick parcel is adjacent and contiguous to the balance of the Property and is also considered ldquoeligible propertyrdquo The Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 due to the presence of ethylbenzene arsenic chromium and selenium in the soil above the EGLE Part 201 Generic Cleanup Criteria (GCC) as well as the 511 Frederick parcel being adjacent and contiguous Therefore based on the results of the analytical sampling the Property is classified as a ldquofacilityrdquo under Part 201of the Natural Resources and Environmental Protection Act 451 PA 1994 as amended (ldquoAct 451rdquo) The individual parcels may be combined at a later date during the development process Attachment G includes a confirmation of the ldquofacilityrdquo status C Summary of Eligible Activities and Description of Costs (Section 13 (2)(a)(b)) The ldquoeligible activitiesrdquo that are intended to be carried out at the Property are considered ldquoeligible activitiesrdquo as defined by Section 2 of Act 381 because they include baseline

environmental assessment activities demolition lead and asbestos abatement department specific activities site preparation infrastructure improvements and the development and preparation of brownfield plan and work plan A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax increment revenues from the Property are shown in the table attached hereto as Attachment E The eligible activities described in Attachment E are not exhaustive Subject to the approval of DBRA staff in writing additional eligible activities may be carried out at the Property without requiring an amendment to this Plan so long as such eligible activities are permitted by Act 381 and the cost of such eligible activities does not exceed the total costs stated in Attachment E Unless otherwise agreed to in writing by the DBRA all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and will be completed within three (3) years after approval of the Michigan Strategic Fund (ldquoMSFrdquo) work plan if applicable or three (3) years after execution of the Reimbursement Agreement (as that term is defined below) whichever is later Any long-term monitoring or operation and maintenance activities or obligations that may be required will be performed in compliance with the terms of this Plan and any documents prepared pursuant to this Plan The Developer desires to be reimbursed for the costs of eligible activities incurred by it as described below Some eligible activities may commence prior to the adoption of this Plan and to the extent permitted by Act 381 shall be reimbursable pursuant to the Reimbursement Agreement Tax increment revenue generated by the Property will be captured by the DBRA and used to reimburse the cost of the eligible activities completed on the Property pursuant to the terms of a Reimbursement Agreement to be executed by the DBRA and the Developer after approval of this Plan (the ldquoReimbursement Agreementrdquo) to the extent permitted by Act 381 In the event this Plan contemplates the capture of tax increment revenue derived from ldquotaxes levied for school operating purposesrdquo (as defined by Section 2(uu) of Act 381 and hereinafter referred to as ldquoSchool Taxesrdquo) the Developer acknowledges and agrees that DBRArsquos obligation to reimburse the Developer for the cost of eligible activities with tax increment revenue derived from Local Taxes or Specific Taxes that are considered Local Taxes (as these capitalized terms are defined by Act 381) is contingent upon (i) the Developer receiving at least the initial applicable work plan approvals by the MSF and the Michigan Department of Environment Great Lakes and Energy (ldquoEGLErdquo) as may be required pursuant to Act 381 within 180 days after the date this Plan is approved by the governing body or such other date as the DBRA may agree to in writing or (ii) the Developer providing the DBRA with evidence satisfactory to DBRA that the Developer has the financial means to complete the project without the capture of and subsequent reimbursement with the contemplated School Taxes The costs listed in Attachment E are estimated costs and may increase or decrease depending on the nature and extent of any environmental contamination and other unknown conditions encountered on the Property The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax increment

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

$

$

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284

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lt=2-=08

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30lt8A2 $2-=08

Blt82553C

lt=lt8

284

30lt8A2 amp2-=08

03824

4323lt5

02851lt

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8-351lt253G0=gt234H06lt62L22851lt8

C-05C0253G0=gt234H06lt62L2 $2851lt82+)2lt32-=07

45

253G0=gt234H06lt62L2J2851lt8

53G0=gt23ltc-03lt622L2DJ2851lt82d22amp2-=082L2DJ2+E72851lt8

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gt5lt623589

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0=lt2015

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Address 565 Frederick Parcel ID 03001489002L

Petit Bateau LLC (ldquoDeveloperrdquo) is the project developer Developer intends to prepare the Property for the construction of a five (5) story mixed-use building (ldquoEast Buildingrdquo) a four (4) story mixed-use building (ldquoWest Buildingrdquo) and approximately twenty (20) residential townhomes along with associated site improvements (the ldquoProjectrdquo) The Project will include a total of approximately eighty-five (85) units with the East Building containing approximately thirty-nine (39) units with approximately 3200 SF of commercial space the West Building containing approximately twenty-six (26) units and approximately twenty (20) townhome units It is currently anticipated construction will begin in the fall of 2019 and eligible activities will be completed within 3-6 months from the commencement of construction The project description provided herein is a summary of the proposed development at the time of the adoption of the Plan The actual development may vary from the project description provided herein without necessitating an amendment to this Plan so long as such variations are not material and arise as a result of changes in market andor financing conditions affecting the Project andor are related to the addition or immaterial removal of amenities to the Project Notwithstanding anything to the contrary contained herein all material changes as determined by DBRA in its sole discretion to the project description are subject to the approval of the DBRA staff and shall be consistent with the overall nature of the proposed development its proposed public purpose and the purposes of Act 381 Attachment C provides a description of the Project to be completed at the Property and Attachment D includes letters of support for the Project B Basis of Eligibility (Section 13 (2)(h) and Section 2 (o)) Except for the 511 Frederick parcel the balance of the Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 because (a) the Property was previously utilized for a commercial industrial public or residential purpose (b) it is located within the City of Detroit a qualified local governmental unit under Act 381 and (c) the Property was determined to be a ldquofacilityrdquo as defined by Act 381 The 511 Frederick parcel is adjacent and contiguous to the balance of the Property and is also considered ldquoeligible propertyrdquo The Property is considered ldquoeligible propertyrdquo as defined by Act 381 Section 2 due to the presence of ethylbenzene arsenic chromium and selenium in the soil above the EGLE Part 201 Generic Cleanup Criteria (GCC) as well as the 511 Frederick parcel being adjacent and contiguous Therefore based on the results of the analytical sampling the Property is classified as a ldquofacilityrdquo under Part 201of the Natural Resources and Environmental Protection Act 451 PA 1994 as amended (ldquoAct 451rdquo) The individual parcels may be combined at a later date during the development process Attachment G includes a confirmation of the ldquofacilityrdquo status C Summary of Eligible Activities and Description of Costs (Section 13 (2)(a)(b)) The ldquoeligible activitiesrdquo that are intended to be carried out at the Property are considered ldquoeligible activitiesrdquo as defined by Section 2 of Act 381 because they include baseline

environmental assessment activities demolition lead and asbestos abatement department specific activities site preparation infrastructure improvements and the development and preparation of brownfield plan and work plan A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax increment revenues from the Property are shown in the table attached hereto as Attachment E The eligible activities described in Attachment E are not exhaustive Subject to the approval of DBRA staff in writing additional eligible activities may be carried out at the Property without requiring an amendment to this Plan so long as such eligible activities are permitted by Act 381 and the cost of such eligible activities does not exceed the total costs stated in Attachment E Unless otherwise agreed to in writing by the DBRA all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and will be completed within three (3) years after approval of the Michigan Strategic Fund (ldquoMSFrdquo) work plan if applicable or three (3) years after execution of the Reimbursement Agreement (as that term is defined below) whichever is later Any long-term monitoring or operation and maintenance activities or obligations that may be required will be performed in compliance with the terms of this Plan and any documents prepared pursuant to this Plan The Developer desires to be reimbursed for the costs of eligible activities incurred by it as described below Some eligible activities may commence prior to the adoption of this Plan and to the extent permitted by Act 381 shall be reimbursable pursuant to the Reimbursement Agreement Tax increment revenue generated by the Property will be captured by the DBRA and used to reimburse the cost of the eligible activities completed on the Property pursuant to the terms of a Reimbursement Agreement to be executed by the DBRA and the Developer after approval of this Plan (the ldquoReimbursement Agreementrdquo) to the extent permitted by Act 381 In the event this Plan contemplates the capture of tax increment revenue derived from ldquotaxes levied for school operating purposesrdquo (as defined by Section 2(uu) of Act 381 and hereinafter referred to as ldquoSchool Taxesrdquo) the Developer acknowledges and agrees that DBRArsquos obligation to reimburse the Developer for the cost of eligible activities with tax increment revenue derived from Local Taxes or Specific Taxes that are considered Local Taxes (as these capitalized terms are defined by Act 381) is contingent upon (i) the Developer receiving at least the initial applicable work plan approvals by the MSF and the Michigan Department of Environment Great Lakes and Energy (ldquoEGLErdquo) as may be required pursuant to Act 381 within 180 days after the date this Plan is approved by the governing body or such other date as the DBRA may agree to in writing or (ii) the Developer providing the DBRA with evidence satisfactory to DBRA that the Developer has the financial means to complete the project without the capture of and subsequent reimbursement with the contemplated School Taxes The costs listed in Attachment E are estimated costs and may increase or decrease depending on the nature and extent of any environmental contamination and other unknown conditions encountered on the Property The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax increment

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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C-05C0253G0=gt234H06lt62L2 $2851lt82+)2lt32-=07

45

253G0=gt234H06lt62L2J2851lt8

53G0=gt23ltc-03lt622L2DJ2851lt82d22amp2-=082L2DJ2+E72851lt8

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

environmental assessment activities demolition lead and asbestos abatement department specific activities site preparation infrastructure improvements and the development and preparation of brownfield plan and work plan A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax increment revenues from the Property are shown in the table attached hereto as Attachment E The eligible activities described in Attachment E are not exhaustive Subject to the approval of DBRA staff in writing additional eligible activities may be carried out at the Property without requiring an amendment to this Plan so long as such eligible activities are permitted by Act 381 and the cost of such eligible activities does not exceed the total costs stated in Attachment E Unless otherwise agreed to in writing by the DBRA all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and will be completed within three (3) years after approval of the Michigan Strategic Fund (ldquoMSFrdquo) work plan if applicable or three (3) years after execution of the Reimbursement Agreement (as that term is defined below) whichever is later Any long-term monitoring or operation and maintenance activities or obligations that may be required will be performed in compliance with the terms of this Plan and any documents prepared pursuant to this Plan The Developer desires to be reimbursed for the costs of eligible activities incurred by it as described below Some eligible activities may commence prior to the adoption of this Plan and to the extent permitted by Act 381 shall be reimbursable pursuant to the Reimbursement Agreement Tax increment revenue generated by the Property will be captured by the DBRA and used to reimburse the cost of the eligible activities completed on the Property pursuant to the terms of a Reimbursement Agreement to be executed by the DBRA and the Developer after approval of this Plan (the ldquoReimbursement Agreementrdquo) to the extent permitted by Act 381 In the event this Plan contemplates the capture of tax increment revenue derived from ldquotaxes levied for school operating purposesrdquo (as defined by Section 2(uu) of Act 381 and hereinafter referred to as ldquoSchool Taxesrdquo) the Developer acknowledges and agrees that DBRArsquos obligation to reimburse the Developer for the cost of eligible activities with tax increment revenue derived from Local Taxes or Specific Taxes that are considered Local Taxes (as these capitalized terms are defined by Act 381) is contingent upon (i) the Developer receiving at least the initial applicable work plan approvals by the MSF and the Michigan Department of Environment Great Lakes and Energy (ldquoEGLErdquo) as may be required pursuant to Act 381 within 180 days after the date this Plan is approved by the governing body or such other date as the DBRA may agree to in writing or (ii) the Developer providing the DBRA with evidence satisfactory to DBRA that the Developer has the financial means to complete the project without the capture of and subsequent reimbursement with the contemplated School Taxes The costs listed in Attachment E are estimated costs and may increase or decrease depending on the nature and extent of any environmental contamination and other unknown conditions encountered on the Property The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax increment

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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lt=35=1lt

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

revenues of the DBRA from the Property shall be governed by the terms of the Reimbursement Agreement No costs of eligible activities will be qualified for reimbursement except to the extent permitted in accordance with the terms and conditions of the Reimbursement Agreement and Act 381 The Reimbursement Agreement and this Plan will dictate the total cost of eligible activities subject to payment provided that the total cost of eligible activities subject to payment or reimbursement under the Reimbursement Agreement shall not exceed the estimated costs set forth in Attachment E As long as the total costs are not exceeded line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body to the extent the adjustments do not violate the terms of the approved EGLE or the MSF work plans D Estimate of Captured Taxable Value and Tax Increment Revenues (Section 13(2)(c)) Beginning Date of Capture of Tax Increment Revenues (Section (13)(2)(f) Impact of Tax Increment Financing on Taxing Jurisdictions (Section 13(2)(g)) This Plan anticipates the capture of tax increment revenues to reimburse the Developer for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement Subject to Section 13(b)(16) of Act 381 a table of estimated tax increment revenues to be captured is attached to this Plan as Attachment F The figures included in Attachment F are estimates and are subject to change depending on actual assessed values and changes to annual millage rates Tax increments are projected to be captured and applied to the (i) reimbursement of eligible activity costs and payment of DBRA administrative and operating expenses (ii) make deposits in the State Brownfield Redevelopment Fund and (iii) to make deposits into the DBRArsquos Local Brownfield Revolving Fund as follows

Taxing Jurisdictions

Reimbursement Costs

DBRA Admin Costs

SBRF Capture

LBRF Capture

School Operating Tax $683922 $0 $0 $76969 State Education Tax $113987 $0 $163677 $12828 City General Operating $715195 $228888 $0 $330249 HCMA $7671 $2455 $0 $3542 Wayne County Op $202468 $64797 $0 $93492 WCCC $116169 $37178 $0 $53642 Library Wayne County Other Wayne County ISD

$165991 $77918 $195872

$53123 $24936 $62686

$0 $0 $0

$76648 $35979 $90446

Total $2279193 $474063 $163677 $773795

In addition the following taxes are projected to be generated but shall not be captured during the life of this Plan

City Debt

$471582

School Debt DIA

$875795 $13473

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Zoo $6737

Total $1367587 Nothing shall prohibit the Developer from submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing bodyrsquos resolution approving this Plan nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (3) and (5) of Section 13 of Act 381 or 30 years Further in no event shall the beginning date of the capture of tax increment revenues be later than five (5) years after the date of the governing bodyrsquos resolution approving this Plan The first year of capture is anticipated to be 2020 E Plan of Financing (Section 13(2)(d)) Maximum Amount of Indebtedness (Section 13(2)(e)) The eligible activities are to be financed solely by the Developer The DBRA will reimburse the Developer for the cost of approved eligible activities but only from tax increment revenues generated from the Property No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement The inclusion of eligible activities and estimates of costs to be reimbursed in this Plan are intended to authorize the DBRA to fund such reimbursements and does not obligate the DBRA or the City to fund any reimbursement or to enter into the Reimbursement Agreement providing for the reimbursement of any costs for which tax increment revenues may be captured under this Plan or which are permitted to be reimbursed under this Plan The amount and source of any tax increment revenues that will be used for purposes authorized by this Plan and the terms and conditions for such use and upon any reimbursement of the expenses permitted by this Plan will be provided solely under the Reimbursement Agreement contemplated by this Plan Unless otherwise agreed upon by the Developer the DBRA and the State of Michigan the DBRA shall not incur any note or bonded indebtedness to finance the purposes of this Plan Reimbursements under the Reimbursement Agreement shall not exceed the cost of eligible activities permitted under this Plan F Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381 the beginning date of capture of tax increment revenues from the Property shall occur in accordance with the tax increment financing (TIF) Table included as Attachment F In no event however shall this Plan extend beyond the maximum term allowed by Section 13(2)(f) of Act 381 for the duration of this Plan

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Furthermore this Plan or any subsequent amendment thereto may be abolished or terminated in accordance with Section 14(8) of Act 381 in the event of any of the following

a The governing body may abolish this Plan (or any subsequent amendment thereto) when it finds that the purposes for which this Plan was established have been accomplished

b The governing body may terminate this Plan (or any subsequent amendment thereto) if the project for which eligible activities were identified in this Plan (or any subsequent amendment thereto) fails to occur with respect to the eligible property for at least two (2) years following the date of the governing body resolution approving this Plan (or any subsequent amendment thereto) provided that the governing body first does both of the following (i) gives 30 daysrsquo written notice to the Developer at its last known address by certified mail or other method that documents proof of delivery attempted and (ii) provides the Developer with an opportunity to be heard at a public meeting

Notwithstanding anything in this subsection to the contrary this Plan (or any subsequent amendment thereto) shall not be abolished or terminated until the principal and interest on bonds if any issued under Section 17 of Act 381 and all other obligations to which the tax increment revenues are pledged have been paid or funds sufficient to make the payment have been identified or segregated G Effective Date of Inclusion in Brownfield Plan The Property will become a part of this Plan on the date this Plan is approved by the governing body H DisplacementRelocation of Individuals on Eligible Property (Section 13(2)(i-l)) There are no persons or businesses residing on the eligible property and no occupied residences will be acquired or cleared therefore there will be no displacement or relocation of persons or businesses under this Plan I Local Brownfield Revolving Fund (ldquoLBRFrdquo) (Section 8) Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund (ldquoLBRFrdquo) The LBRF will consist of all tax increment revenues authorized to be captured and deposited in the LBRF as specified in Section 13(5) of Act 381 under this Plan and any other plan of the DBRA It may also include funds appropriated or otherwise made available from public or private sources The amount of tax increment revenue authorized for capture and deposit in the LBRF is estimated at $773795 All funds if any deposited into the LBRF shall be used in accordance with Section 8 of Act 381 J Brownfield Redevelopment Fund (Section 8a) Section 13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 that are captured under this Plan for up to the first twenty-five (25) years of the duration of capture of tax increment revenues for each eligible property included in this

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Plan If the DBRA pays an amount equal to 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on a parcel of eligible property to the Department of Treasury under Section 13b(14) of Act 381 the percentage of local taxes levied on that parcel and used to reimburse eligible activities for the Project under this Plan shall not exceed the percentage of local taxes levied on that parcel that would have been used to reimburse eligible activities for the Project under this Plan if the 50 of the taxes levied under the state education tax 1993 PA 331 MCL 211901 to 211906 on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381 K Developerrsquos Obligations Representations and Warrants The Developer and its affiliates shall comply with all applicable laws ordinances executive orders andor other regulations imposed by the City or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan The Developer at its sole cost and expense shall be solely responsible for and shall fully comply with all applicable federal state and local relocation requirements in implementing this Plan The Developer represents and warrants that a Phase I Environmental Site Assessment (ldquoESArdquo) and a Phase II ESA have been performed on the Property (ldquoEnvironmental Documentsrdquo) Attached hereto as Attachment G is the City of Detroitrsquos Department of Buildings Safety Engineering and Environmental acknowledgement of its receipt of the Environmental Documents The Developer further represents and warrants that the Project does not and will not include a City of Detroit Land Bank Authority Wayne County Land Bank Authority or State of Michigan Land Bank Authority financing component Except as otherwise agreed to by the DBRA any breach of a representation or warranty contained in this Plan shall render the Plan invalid subject to the Developerrsquos reasonable opportunity to cure as described in the Reimbursement Agreement

III ATTACHMENTS

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

III ATTACHMENTS

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT A

Site Map

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

$

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ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT B Legal Descriptions

Owner Petit Bateau LLC Address 503 Frederick Parcel ID 003001481

Legal Description

N FREDERICK W 38 FT OF E 218 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 38 X 14509

Owner Bernard Friedman (Under contract with Petit Bateau LLC) Address 511 Frederick Parcel ID 03001482

Legal Description

N FREDERICK W 45 FT OF E 180 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 525 Frederick Parcel ID 03001483

Legal Description

N FREDERICK W 45 FT OF E 135 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 45 X 14509

Owner Petit Bateau LLC Address 541 Frederick Parcel ID 03001484-6

Legal Description

N FREDERICK E 90 FT OF S 14509 FT OF 195 LYG N amp ADJ FREDERICK AVE 60WDPLAT OF COMMISSIONERS SUB OF L BEAUBIEN FARM L6 P475-8 CITY RECORDS W C R 33 W 32 FT OF 10BLK 36 FERRY amp LYSTERS SUB L12 P42 PLATS W C R 364 122 X 14509

Owner Petit Bateau LLC Address 555 Frederick Parcel ID 03001487-8

Legal Description N FREDERICK E 16 FT OF 10 W 16 FT OF 9 BLK 36 FERRY amp LYSTERS SUB OF BLKS 32 34 THRU 38 L12 P42 PLATS W C R 364 32 X 14509

Owner Petit Bateau LLC

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Address 561 Frederick Parcel ID 03001489001

Legal Description N FREDERICK E 32 FT 9 8 THRU 7 W 28 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 156 X 14509

Owner City of Detroit PampDD (Subject to Development Agreement with Petit Bateau LLC)

Address 565 Frederick Parcel ID 03001489002L

Legal Description N FREDERICK E 16 FT 6BLK 36---FERRY amp LEYSTERS L12 P42 PLATS W C R 364 16 X 14509

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT C

Project Description

PROJECT SUMMARY

Project Name Petit Bateau Development Project Location 503 511 525 541 555 561 and 565 Frederick Street

Detroit Wayne County MI Type of Eligible Property Facility and Adjacent and Contiguous Total Project Investment Approximately $23400000 Eligible Activities Baseline environmental assessment activities demolition

lead and asbestos abatement department specific activities site preparation infrastructure improvements (including green storm water management system) and development preparation and implementation of brownfield plan and work plan

Reimbursable Costs $2279193 ndash Nothing shall prohibit the Developer from

submitting reimbursement requests up to the maximum amount of eligible costs approved for eligible activities under this Plan In the event the actual tax increment revenue capture is greater than projected the Developer will be reimbursed up to the maximum amount of eligible costs approved for eligible activities under this Plan

Years to Complete Payback 23 years Base TVNew TV Estimate Base $13215New $3600000 Project Overview Petit Bateau LLC is proposing to he proposed project will

include construction of a five (5) story mixed use building (ldquoEast Buildingrdquo) with ground floor retail and thirty-nine (39) residential units above a four (4) story mixed use building (ldquoWest Buildingrdquo) with ground floor retail and twenty-six (26) residential units above and twenty (20) residential townhomes (the ldquoProjectrdquo) The Project will include a total of eighty-five (85) units

The Project will redevelop one of the last development sites in Midtown and the Historic Art Center neighborhood The Property was historically occupied by residential multi-family apartments a church and an auto repair shop

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

The site is currently vacant and ownedunder the control by the Developer and consists of seven (7) parcels comprising approximately 151 acres Total investment in the Project is estimated to be approximately $23 million with approximately 100 temporary construction jobs and 2 new positions associated with the residential units The Project will significantly improve the site and surrounding area through the delivery of qualify infill and affordable mixed-use housing in the City The Project was a recipient of EPA grant funding from the DBRACity of Detroit to pay for initial site assessments Grant funded costs are not included as part of the Reimbursable Costs

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT D

Support Letters

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT E

Estimated Cost of Eligible Activities Table

ESTIMATED COST OF ELIGIBLE ACTIVITIES

Description of Eligible Activities Estimated Cost Environmental Activities

1 Baseline Environmental Assessment Activities $ 10000 2 Due Care Activities ndash soil excavation

transportation and disposal

$ 200000 Subtotal ndash Environmental Activities $ 210000 3 Contingency (15) $ 31500 4 Brownfield Plan and Work Plan development and

preparation

$ 15000 Total Environmental Activities $ 256500

Non-Environmental Activities 5 Demolition $ 2620 6 Lead and Asbestos Abatement $ 2500 7 Site Preparation $60000 8 Infrastructure Improvements (including green storm

water management system)

$ 1680700 Subtotal ndash Non-Environmental Activities $ 1745820 9 Contingencies (15) $ 261873 10 Brownfield Plan and Work Plan development and

preparation $ 15000

Total Non-Environmental Activities $ 2022693 Total Estimated Cost to Developer to be Funded

Through TIF

$ 2279193 11 State Brownfield Revolving Fund $ 163677 12 DBRA Administrative Fees $ 474063 13 Local Brownfield Revolving Fund $ 773795 Total Potential Capture $ 3690728

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT F

TIF Tables

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

Estimated New Land TV 3200$ 3200$ 3224$ 3248$ 3273$ 3297$ 3322$ 3347$ 3372$ 3397$ 3423$ 3448$ 3474$

Estimated New Improvements TV -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

Incremental Land Difference (New TV - Base TV) -$ -$ 24$ 48$ 73$ 97$ 122$ 147$ 172$ 197$ 223$ 248$ 274$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 872331$ 878874$ 885465$ 892106$ 898797$ 905538$ 912330$ 919172$ 926066$ 933011$ 940009$

School Capture Millage Rate NEZ Taxes 15248$ 15363$ 15478$ 15594$ 15711$ 15829$ 15948$ 16067$ 16188$ 16309$ 16431$ State Education Tax (SET) 60000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$ School Operating Tax 180000 -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

School Total 240000 -$ -$ 1353$ 1363$ 1374$ 1384$ 1395$ 1405$ 1416$ 1427$ 1438$ 1449$ 1460$

Local Capture Millage RateCity General Op 199520 -$ 4499$ 4534$ 4568$ 4603$ 4638$ 4673$ 4709$ 4744$ 4781$ 4817$ 4853$ Wayne County Op 56483 -$ -$ 1274$ 1283$ 1293$ 1303$ 1313$ 1323$ 1333$ 1343$ 1353$ 1364$ 1374$ Huron Clinton MA 02140 -$ -$ 48$ 49$ 49$ 49$ 50$ 50$ 51$ 51$ 51$ 52$ 52$ Wayne County Safety 09381 -$ -$ 212$ 213$ 215$ 216$ 218$ 220$ 221$ 223$ 225$ 226$ 228$ Library 46307 -$ -$ 1044$ 1052$ 1060$ 1068$ 1076$ 1085$ 1093$ 1101$ 1110$ 1118$ 1126$ Wayne County Parks 02459 -$ -$ 55$ 56$ 56$ 57$ 57$ 58$ 58$ 58$ 59$ 59$ 60$ Wayne County Community College 32408 -$ -$ 731$ 736$ 742$ 748$ 753$ 759$ 765$ 771$ 776$ 782$ 788$ Wayne County 09897 -$ -$ 223$ 225$ 227$ 228$ 230$ 232$ 234$ 235$ 237$ 239$ 241$ County ISD Spec Ed 33678 -$ -$ 759$ 765$ 771$ 777$ 783$ 789$ 795$ 801$ 807$ 813$ 819$ County ISD Enhancement 20000 -$ -$ 451$ 454$ 458$ 461$ 465$ 468$ 472$ 476$ 479$ 483$ 487$ County ISD Oper 00965 -$ -$ 22$ 22$ 22$ 22$ 22$ 23$ 23$ 23$ 23$ 23$ 23$

Local Total 413238 -$ -$ 9319$ 9390$ 9461$ 9533$ 9606$ 9679$ 9752$ 9827$ 9901$ 9976$ 10052$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 23$ 23$ 23$ 23$ 23$ 23$ 24$ 24$ 24$ 24$ 24$

Art Institute 02000 -$ -$ 45$ 45$ 46$ 46$ 46$ 47$ 47$ 48$ 48$ 48$ 49$

School Debt 130000 -$ -$ 2932$ 2954$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3115$ 3138$ 3162$

City Debt 70000 -$ -$ 1579$ 1591$ 1603$ 1615$ 1627$ 1640$ 1652$ 1665$ 1677$ 1690$ 1703$

Total Non-Capturable Taxes 203000 -$ -$ 4578$ 4613$ 4648$ 4683$ 4719$ 4755$ 4791$ 4827$ 4864$ 4901$ 4938$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 10672$ 10753$ 10835$ 10917$ 11000$ 11084$ 11168$ 11253$ 11339$ 11425$ 11512$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Tax Increment Revenue Capture Estimates for Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land TV

Estimated New Improvements TV

Incremental Land Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$ 3200$

3500$ 3526$ 3553$ 3580$ 3606$ 3633$ 3661$ 3688$ 3716$ 3744$ 3772$ 3800$ 3829$ 3857$ 3857$

947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

300$ 326$ 353$ 380$ 406$ 433$ 461$ 488$ 516$ 544$ 572$ 600$ 629$ 657$ 657$ 947059$ 954162$ 961318$ 968528$ 975792$ 983110$ 990484$ 997912$ 1005397$ 1012937$ 1020534$ 1028188$ 1035900$ 1043669$ 1043669$

16555$ -$ -$ -$ 1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

1471$ 5727$ 5770$ 5813$ 5857$ 5901$ 5946$ 5990$ 6035$ 6081$ 6127$ -$ -$ -$ 76181$

4890$ 11905$ 14392$ 16916$ 19477$ 19624$ 19771$ 19920$ 20070$ 20221$ 20373$ 20526$ 20681$ 20836$ 301022$

1384$ 3370$ 4074$ 4789$ 5514$ 5555$ 5597$ 5639$ 5682$ 5724$ 5768$ 5811$ 5855$ 5899$ 85218$

52$ 204$ 206$ 207$ 209$ 210$ 212$ 214$ 215$ 217$ 219$ 220$ 222$ 223$ 3383$

230$ 895$ 902$ 909$ 916$ 923$ 930$ 937$ 944$ 951$ 958$ 965$ 972$ 980$ 14828$

1135$ 4420$ 4453$ 4487$ 4520$ 4554$ 4589$ 4623$ 4658$ 4693$ 4728$ 4764$ 4800$ 4836$ 73195$

60$ 235$ 236$ 238$ 240$ 242$ 244$ 246$ 247$ 249$ 251$ 253$ 255$ 257$ 3887$

794$ 3093$ 3117$ 3140$ 3164$ 3187$ 3211$ 3236$ 3260$ 3284$ 3309$ 3334$ 3359$ 3384$ 51226$

243$ 945$ 952$ 959$ 966$ 973$ 981$ 988$ 996$ 1003$ 1011$ 1018$ 1026$ 1034$ 15644$

825$ 3215$ 3239$ 3263$ 3288$ 3312$ 3337$ 3362$ 3388$ 3413$ 3439$ 3465$ 3491$ 3517$ 53233$

490$ 1909$ 1923$ 1938$ 1952$ 1967$ 1982$ 1997$ 2012$ 2027$ 2042$ 2058$ 2073$ 2089$ 31613$ 24$ 92$ 93$ 93$ 94$ 95$ 96$ 96$ 97$ 98$ 99$ 99$ 100$ 101$ 1525$

10129$ 30283$ 33587$ 36940$ 40340$ 40644$ 40950$ 41258$ 41568$ 41881$ 42196$ 42513$ 42833$ 43156$ 634774$

25$ 95$ 96$ 97$ 98$ 98$ 99$ 100$ 101$ 101$ 102$ 103$ 104$ 104$ 1581$

49$ 191$ 192$ 194$ 195$ 197$ 198$ 200$ 201$ 203$ 204$ 206$ 207$ 209$ 3161$

3186$ 12408$ 12502$ 12596$ 12691$ 12786$ 12882$ 12979$ 13077$ 13175$ 13274$ 13374$ 13475$ 13576$ 205485$

1716$ 6681$ 6732$ 6782$ 6833$ 6885$ 6937$ 6989$ 7041$ 7094$ 7148$ 7202$ 7256$ 7310$ 110646$

4976$ 19376$ 19522$ 19669$ 19817$ 19966$ 20116$ 20268$ 20420$ 20574$ 20728$ 20884$ 21042$ 21200$ 320873$

11599$ 36010$ 39357$ 42753$ 46197$ 46545$ 46895$ 47248$ 47604$ 47962$ 48323$ 42513$ 42833$ 43156$ 710955$

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate 075 NEZ - Non-Homestead UnitsPlan Year 1 2 3 4 5 6 7 8 9 10 11 12 13

Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Base Land Taxable Value 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

Estimated New Land amp Commercial TV 10015$ 10015$ 65000$ 65488$ 65979$ 66473$ 66972$ 67474$ 67980$ 68490$ 69004$ 69521$ 70043$

Estimated New Improvements TV -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

Incremental Land amp Commercial Difference (New TV - Base TV) -$ -$ 54985$ 55473$ 55964$ 56458$ 56957$ 57459$ 57965$ 58475$ 58989$ 59506$ 60028$ Incremental Improvements Difference (New TV - Base TV) -$ -$ 2666260$ 2686257$ 2706404$ 2726702$ 2747152$ 2767756$ 2788514$ 2809428$ 2830499$ 2851727$ 2873115$

School Capture Millage Rate NEZ Taxes 70963$ 71495$ 72031$ 72571$ 73115$ 73664$ 74216$ 74773$ 75334$ 75899$ 76468$ State Education Tax (SET) 60000 -$ -$ 5303$ 5343$ 5383$ 5424$ 5465$ 5507$ 5548$ 5590$ 5633$ 5676$ 5719$ School Operating Tax 180000 -$ -$ 15908$ 16028$ 16150$ 16272$ 16396$ 16520$ 16645$ 16771$ 16899$ 17027$ 17156$

School Total 240000 -$ -$ 21210$ 21371$ 21533$ 21696$ 21861$ 22027$ 22194$ 22362$ 22531$ 22702$ 22874$

Local Capture Millage RateCity General Op 199520 -$ 17633$ 17766$ 17901$ 18037$ 18174$ 18312$ 18450$ 18590$ 18731$ 18873$ 19016$ Wayne County Op 56483 -$ -$ 4992$ 5030$ 5068$ 5106$ 5145$ 5184$ 5223$ 5263$ 5303$ 5343$ 5383$ Huron Clinton MA 02140 -$ -$ 189$ 191$ 192$ 193$ 195$ 196$ 198$ 199$ 201$ 202$ 204$ Wayne County Safety 09381 -$ -$ 829$ 835$ 842$ 848$ 854$ 861$ 867$ 874$ 881$ 887$ 894$ Library 46307 -$ -$ 4092$ 4123$ 4155$ 4186$ 4218$ 4250$ 4282$ 4315$ 4347$ 4380$ 4414$ Wayne County Parks 02459 -$ -$ 217$ 219$ 221$ 222$ 224$ 226$ 227$ 229$ 231$ 233$ 234$ Wayne County Community College 32408 -$ -$ 2864$ 2886$ 2908$ 2930$ 2952$ 2974$ 2997$ 3020$ 3042$ 3066$ 3089$ Wayne County 09897 -$ -$ 875$ 881$ 888$ 895$ 901$ 908$ 915$ 922$ 929$ 936$ 943$ County ISD Spec Ed 33678 -$ -$ 2976$ 2999$ 3022$ 3045$ 3068$ 3091$ 3114$ 3138$ 3162$ 3186$ 3210$ County ISD Enhancement 20000 -$ -$ 1768$ 1781$ 1794$ 1808$ 1822$ 1836$ 1849$ 1863$ 1878$ 1892$ 1906$ County ISD Oper 00965 -$ -$ 85$ 86$ 87$ 87$ 88$ 89$ 89$ 90$ 91$ 91$ 92$

Local Total 413238 -$ -$ 36520$ 36797$ 37076$ 37357$ 37641$ 37926$ 38214$ 38503$ 38795$ 39089$ 39386$

Non-Capturable Millages Millage Rate

Zoo Authority 01000 -$ -$ 88$ 89$ 90$ 90$ 91$ 92$ 92$ 93$ 94$ 95$ 95$

Art Institute 02000 -$ -$ 177$ 178$ 179$ 181$ 182$ 184$ 185$ 186$ 188$ 189$ 191$

School Debt 130000 -$ -$ 11489$ 11576$ 11664$ 11752$ 11841$ 11931$ 12022$ 12113$ 12205$ 12297$ 12390$

City Debt 70000 -$ -$ 6186$ 6233$ 6280$ 6328$ 6376$ 6424$ 6473$ 6522$ 6572$ 6621$ 6672$

Total Non-Capturable Taxes 203000 -$ -$ 17940$ 18076$ 18213$ 18352$ 18491$ 18631$ 18772$ 18914$ 19058$ 19202$ 19348$

Total Tax Increment Revenue (TIR) Available for Capture -$ -$ 57730$ 58168$ 58609$ 59054$ 59502$ 59953$ 60407$ 60865$ 61327$ 61792$ 62260$

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

April 2017

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Tax Increment Revenue Capture Estimates for Non-Homestead UnitsPetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Estimated Taxable Value (TV) Increase Rate

Plan YearCalendar Year

Base Land Taxable Value

Estimated New Land amp Commercial TV

Estimated New Improvements TV

Incremental Land amp Commercial Difference (New TV - Base TV)

Incremental Improvements Difference (New TV - Base TV)

School Capture Millage RateState Education Tax (SET) 60000

School Operating Tax 180000

School Total 240000

Local Capture Millage RateCity General Op 199520

Wayne County Op 56483

Huron Clinton MA 02140

Wayne County Safety 09381

Library 46307

Wayne County Parks 02459

Wayne County Community College 32408

Wayne County 09897

County ISD Spec Ed 33678

County ISD Enhancement 20000

County ISD Oper 00965

Local Total 413238

Non-Capturable Millages Millage Rate

Zoo Authority 01000

Art Institute 02000

School Debt 130000

City Debt 70000

Total Non-Capturable Taxes 203000

Total Tax Increment Revenue (TIR) Available for Capture

Footnotes

Assumes 15yr NEZ

Land Increment will be captured but TIF projections only show improvements capture for ease of referenceAssumes new taxable value based on proposed build out plus 075 annual inflation increases thereafterAssumes millage rate remains the same

2020 is the first year of TIF Capture

Phase Out Phase Out Phase Out 14 15 16 17 18 19 20 21 22 23 24 25 26 27 TOTAL

2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045

10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$ 10015$

70568$ 71097$ 71631$ 72168$ 72709$ 73254$ 73804$ 74357$ 74915$ 75477$ 76043$ 76613$ 77188$ 77767$ 77767$

2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

60553$ 61082$ 61616$ 62153$ 62694$ 63239$ 63789$ 64342$ 64900$ 65462$ 66028$ 66598$ 67173$ 67752$ 67752$ 2894664$ 2916374$ 2938246$ 2960283$ 2982485$ 3004854$ 3027390$ 3050096$ 3072972$ 3096019$ 3119239$ 3142633$ 3166203$ 3189950$ 3189950$

77041$ -$ -$ -$ 5762$ 17865$ 17999$ 18135$ 18271$ 18409$ 18547$ 18687$ 18827$ 18969$ 19112$ -$ -$ -$ 251172$

17286$ 53594$ 53998$ 54404$ 54813$ 55226$ 55641$ 56060$ 56482$ 56907$ 57335$ -$ -$ -$ 753516$

23048$ 71459$ 71997$ 72538$ 73084$ 73634$ 74188$ 74747$ 75309$ 75876$ 76446$ -$ -$ -$ 1004688$

19160$ 37586$ 45197$ 52921$ 60757$ 61215$ 61675$ 62139$ 62607$ 63078$ 63552$ 64031$ 64512$ 64998$ 984912$

5424$ 10640$ 12795$ 14982$ 17200$ 17330$ 17460$ 17591$ 17724$ 17857$ 17991$ 18127$ 18263$ 18400$ 278823$

206$ 637$ 642$ 647$ 652$ 657$ 662$ 666$ 672$ 677$ 682$ 687$ 692$ 697$ 11034$

901$ 2793$ 2814$ 2835$ 2857$ 2878$ 2900$ 2922$ 2944$ 2966$ 2988$ 3011$ 3033$ 3056$ 48371$

4447$ 13788$ 13891$ 13996$ 14101$ 14207$ 14314$ 14422$ 14531$ 14640$ 14750$ 14861$ 14973$ 15085$ 238770$

236$ 732$ 738$ 743$ 749$ 754$ 760$ 766$ 772$ 777$ 783$ 789$ 795$ 801$ 12679$

3112$ 9649$ 9722$ 9795$ 9869$ 9943$ 10018$ 10093$ 10169$ 10246$ 10323$ 10400$ 10479$ 10558$ 167103$

950$ 2947$ 2969$ 2991$ 3014$ 3036$ 3059$ 3082$ 3106$ 3129$ 3152$ 3176$ 3200$ 3224$ 51031$

3234$ 10027$ 10103$ 10179$ 10256$ 10333$ 10410$ 10489$ 10568$ 10647$ 10727$ 10808$ 10889$ 10971$ 173652$

1921$ 5955$ 6000$ 6045$ 6090$ 6136$ 6182$ 6229$ 6276$ 6323$ 6371$ 6418$ 6467$ 6515$ 103125$ 93$ 287$ 289$ 292$ 294$ 296$ 298$ 301$ 303$ 305$ 307$ 310$ 312$ 314$ 4976$

39684$ 95042$ 105161$ 115426$ 125838$ 126785$ 127739$ 128700$ 129669$ 130644$ 131627$ 132618$ 133615$ 134621$ 2074475$

96$ 298$ 300$ 302$ 305$ 307$ 309$ 311$ 314$ 316$ 319$ 321$ 323$ 326$ 5156$

192$ 595$ 600$ 604$ 609$ 614$ 618$ 623$ 628$ 632$ 637$ 642$ 647$ 652$ 10312$

12484$ 38707$ 38998$ 39292$ 39587$ 39885$ 40185$ 40488$ 40792$ 41099$ 41408$ 41720$ 42034$ 42350$ 670310$

6722$ 20842$ 20999$ 21157$ 21316$ 21477$ 21638$ 21801$ 21965$ 22130$ 22297$ 22465$ 22634$ 22804$ 360936$

19495$ 60442$ 60897$ 61355$ 61817$ 62282$ 62751$ 63223$ 63699$ 64178$ 64661$ 65147$ 65638$ 66131$ 1046715$

62732$ 166501$ 177157$ 187964$ 198923$ 200420$ 201928$ 203447$ 204978$ 206520$ 208074$ 132618$ 133615$ 134621$ 3079163$

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Developer Maximum

Reimbursement ProportionalitySchool amp Local

TaxesLocal-Only

Taxes Total Estimated Capture 3790118$ State 350 797909$ 797909$ Administrative Fees 474063$ Local 650 1481284$ -$ 1481284$ 27 State Revolving Fund 163677$

TOTAL 2279193$ LBRF 773795$ MDEQ 256500$ 0 256500$ MSF 2022693$ -$ 2022693$

NEZ2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Total State Incremental Revenue -$ -$ 22563$ 22734$ 22907$ 23081$ 23256$ 23432$ 23610$ 23789$ 23969$ 24151$ 24334$ State Brownfield Revolving Fund (50 of SET) -$ -$ (3328)$ (3353)$ (3379)$ (3404)$ (3430)$ (3456)$ (3482)$ (3509)$ (3535)$ (3562)$ (3589)$ State TIR Available for Reimbursement -$ -$ 19235$ 19381$ 19528$ 19676$ 19826$ 19976$ 20127$ 20280$ 20434$ 20589$ 20745$

Total Local Incremental Revenue -$ -$ 45839$ 46187$ 46538$ 46891$ 47246$ 47605$ 47966$ 48330$ 48696$ 49066$ 49438$ BRA Administrative Fee (15) -$ -$ (9761)$ (9835)$ (9910)$ (9985)$ (10061)$ (10137)$ (10214)$ (10291)$ (10370)$ (10448)$ (10527)$ Local TIR Available for Reimbursement -$ -$ 36078$ 36352$ 36628$ 36906$ 37186$ 37468$ 37752$ 38038$ 38327$ 38618$ 38910$

Total State amp Local TIR Available -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

DEVELOPER Reimbursement Balance 2279193$ 2279193$ 2279193$ 2223880$ 2168147$ 2111991$ 2055408$ 1998397$ 1940953$ 1883074$ 1824755$ 1765995$ 1706788$ 1647133$

MSF Non-Environmental Costs 2022693$ 2022693$ 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ State Tax Reimbursement 89 -$ -$ 17071$ 17200$ 17331$ 17462$ 17594$ 17728$ 17862$ 17998$ 18134$ 18272$ 18410$ Local Tax Reimbursement -$ -$ 32018$ 32261$ 32506$ 32752$ 33001$ 33251$ 33503$ 33758$ 34014$ 34272$ 34531$ Total MSF Reimbursement Balance 2022693$ 2022693$ 1973605$ 1924144$ 1874307$ 1824093$ 1773498$ 1722519$ 1671153$ 1619398$ 1567250$ 1514707$ 1461765$

EGLE Environmental Costs 256500$ 256500$ 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ State Tax Reimbursement 11 -$ -$ 2165$ 2181$ 2198$ 2214$ 2231$ 2248$ 2265$ 2282$ 2300$ 2317$ 2335$ Local Tax Reimbursement -$ -$ 4060$ 4091$ 4122$ 4153$ 4185$ 4217$ 4249$ 4281$ 4313$ 4346$ 4379$ Total MDEQ Reimbursement Balance 256500$ 256500$ 250275$ 244003$ 237683$ 231315$ 224899$ 218435$ 211921$ 205358$ 198745$ 192082$ 185368$

Local Only Costs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Reimbursement -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Local Only Reimbursement Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Annual Developer Reimbursement -$ -$ 55313$ 55733$ 56156$ 56582$ 57011$ 57444$ 57879$ 58318$ 58761$ 59206$ 59655$

LBRF Deposits -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ State Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Local Tax Capture -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total LBRF Capture -$

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

Estimated Total Years of Plan

DEVELOPERBeginning Balance

LOCAL BROWNFIELD REVOLVING FUND

April 2017

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Tax Increment Financing Reimbursement TablePetit Bateau LLC

503 511 525 541 555 561 and 565 Frederick StreetDetroit Michigan

July 17 2019

Total State Incremental RevenueState Brownfield Revolving Fund (50 of SET)State TIR Available for Reimbursement

Total Local Incremental RevenueBRA Administrative Fee (15)Local TIR Available for Reimbursement

Total State amp Local TIR Available

DEVELOPER Reimbursement Balance

MSF Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance

EGLE Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MDEQ Reimbursement Balance

Local Only Costs Local Tax Reimbursement Total Local Only Reimbursement Balance

Total Annual Developer Reimbursement

LBRF Deposits State Tax Capture Local Tax Capture Total LBRF Capture

Up to five years of capture for LBRF Deposits after eligible activities are reimbursed May be taken from DEQ amp Local TIR only Footnotes(1) Assumes taxable value increases based on proposed build out plus 075 annual increases for inflation thereafter 2020 is the first year of TIF Capture(2) Assumes Millage Rates remain constant

DEVELOPER

LOCAL BROWNFIELD REVOLVING FUND

Phase Out Phase Out Phase Out2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 TOTAL

24518$ 77186$ 77767$ 78352$ 78941$ 79536$ 80134$ 80737$ 81344$ 81956$ 82573$ -$ -$ -$ 1080869$ (3616)$ (11796)$ (11885)$ (11974)$ (12064)$ (12155)$ (12246)$ (12339)$ (12431)$ (12525)$ (12619)$ -$ -$ -$ (163677)$

20902$ 65390$ 65882$ 66378$ 66877$ 67381$ 67888$ 68398$ 68913$ 69432$ 69954$ -$ -$ -$ 917193$

49813$ 125325$ 138748$ 152365$ 166179$ 167429$ 168689$ 169958$ 171237$ 172525$ 173823$ 175131$ 176449$ 177776$ 2709249$ (10607)$ (28607)$ (30695)$ (32811)$ (34958)$ (35221)$ (35486)$ (35753)$ (36022)$ (36294)$ (36567)$ (26270)$ (26467)$ (26666)$ (474063)$ 39206$ 96718$ 108054$ 119554$ 131220$ 132208$ 133202$ 134205$ 135214$ 136232$ 137257$ 148861$ 149981$ 151110$ 2235186$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 205663$ 207211$ 148861$ 149981$ 151110$ 3152379$

1587026$ 1424918$ 1250982$ 1065050$ 866953$ 667365$ 466275$ 263671$ 59544$ -$ -$ -$ -$ -$ -$

1461765$ 1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ 18550$ 58031$ 58468$ 58908$ 59351$ 59798$ 60248$ 60701$ 61158$ 17840$ -$ -$ -$ -$ 708113$ 34793$ 85833$ 95893$ 106099$ 116453$ 117329$ 118212$ 119101$ 119997$ 35003$ -$ -$ -$ -$ 1314580$

1408422$ 1264558$ 1110197$ 945190$ 769386$ 592259$ 413800$ 233998$ 52843$ -$ -$ -$ -$ -$ -$

185368$ 178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ 2352$ 7359$ 7414$ 7470$ 7526$ 7583$ 7640$ 7698$ 7755$ 2262$ -$ -$ -$ -$ 89797$ 4412$ 10885$ 12160$ 13455$ 14768$ 14879$ 14991$ 15103$ 15217$ 4439$ -$ -$ -$ -$ 166703$

178604$ 160360$ 140785$ 119861$ 97567$ 75105$ 52474$ 29674$ 6701$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

60108$ 162108$ 173936$ 185932$ 198098$ 199588$ 201090$ 202603$ 204127$ 59544$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ 146119$ 177724$ 148861$ 149981$ 151110$ 773795$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 49330$ 40467$ -$ -$ -$ 89797$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 96790$ 137257$ 148861$ 149981$ 151110$ 683999$

April 2017

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT G

Facility Confirmation

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

ATTACHMENT H

Incentives Chart

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

City of Detroit City Council

Council President Brenda Jones

INCENTIVE INORMATION CHART

Project Type Incentive Type Investment Amount District New Construction Brownfield TIF $23400000 5

Jobs Available Construction Post Construction

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

Professional Non-Professional

Skilled Labor

Non-Skilled Labor

2 1 77 20 1 1 0 0

1 What is the plan for hiring Detroiters - The Developer and his contractors will work with local trades to meet the current

Executive Orders

2 Please give a detailed description of the jobs available as listed in the above chart - Construction jobs will consist of various subcontractors and a general contractor

including various skilled trades such as carpenters laborers operators roofers plumbers electricians elevator technicians and landscapers There is expected to be approximately 100 construction jobs involved with the Project

- Jobs post construction will consist of maintenance operations and management positions to operate the Property The majority of the new jobs will come from prospective commercial tenants

3 Will this development cause any relocation that will create new Detroit residents

- Yes the Project includes 85 new residential units that will bring new residents to the City of Detroit

4 Has the developer reached out to any community groups to discuss the project andor any potential jobs - The Project has been discussed with area neighbors and letters of support were

provided along with the Planning Commission rezoning request

5 When is construction slated to begin - Construction is slated to begin in fall 2019winter 2020

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force

Coleman A Young Municipal Center middot2 Woodward Avenue middotSuite 1340 Detroit Michigan 48226 (313) 224-1245 Fax (313) 224-4095

6 What is the expected completion date of construction - Construction will be completed by the end of 2021 or early 2022

Please contact Linda Wesley at (313) 628-2993 or wesleyldetroitmigov to schedule a date to attend the Skilled Trades Task Force