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Home My WebLink AboutResolutions - 2024.07.26 - 41348 AGENDA ITEM: Auburn and Beacon Place Brownfield Plan located at 454 Auburn Avenue and 180 J. Hubbard Lane in the City of Pontiac DEPARTMENT: Economic Development - Business Development MEETING: Board of Commissioners DATE: Thursday, July 18, 2024 6:00 PM - Click to View Agenda ITEM SUMMARY SHEET COMMITTEE REPORT TO BOARD Resolution #2024-4277 Motion to adopt the Brownfield Redevelopment Plan to be carried out within the City of Pontiac, relating to the Auburn and Beacon Place redevelopment. ITEM CATEGORY SPONSORED BY Brownfield/TIF Yolanda Smith Charles INTRODUCTION AND BACKGROUND The development team is investing over $36 Million in the City of Pontiac for housing needs. Two (2) Projects –(Beacon Townhomes and Auburn Place Apartments) are associated with this Brownfield Plan and serve households seeking rental housing with income qualifying criteria ranging between 30%-60% Area Medium Income (AMI). As part of the financing for the development, the development partners are seeking Low Income Housing Tax Credits (LIHTC) and Vouchers to serve the residents of the City of Pontiac. The new construction on the northern property parcel identified as Auburn Place will consist of a 54- unit, five-story apartment building, including 45 one-bedroom and nine two-bedroom units. Project work will include the following in-unit amenities: coat closet, dishwasher, garbage disposal, mini- blinds, patio/balcony, self-clean oven, and microwave. Project work will include the following building amenities: community room, elevator, on-site management, common outdoor spaces, and picnic area. The project will set aside 29 PSH units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness) and the remaining 25 units will have Project Based Vouchers from the Pontiac Housing Commission and/or Oakland County Housing Commission targeting HOME ARP qualifying populations. The rehabilitation of the Beacon Place Townhomes will not alter the existing building footprints, but will include exterior repairs and landscaping, installation of new roofs and windows, interior installations of security systems, flooring, doors, trim, lighting, appliances, cabinets and countertops, toilets and bathtubs, mechanical systems and HVAC, as well as upgrades to elevators. The rehabilitation will preserve the three type A accessible units. This project would provide many benefits to the City and the County, including: • Remediating contaminated soils at the site; • Developing a long vacant property in a neighborhood that has had issues with blight and economic decline; • Renovating existing housing; • Adding to the capacity to move homeless families and individuals in the City of Pontiac out of shelters and into permanent housing; and • Adding to the capacity to provide supportive services to homeless families and individuals in the City of Pontiac. It is currently anticipated that construction will begin in the Fall of 2024 and eligible activities will be completed within 18 months thereafter. The Oakland County Board of Commissioners, pursuant to and in accordance with the provisions of the Brownfield Redevelopment Financing Act, being Act 381 of the Public Acts of the State of Michigan of 1996, as amended (the “Act”), have established a redevelopment of Brownfields Redevelopment Authority and Board known as the Oakland County Brownfield Redevelopment Authority (OCBRA) to facilitate the cleanup and redevelopment of Brownfields within Oakland County’s communities. The Auburn.Beacon site in the City of Pontiac (the “Property”) is defined as a facility and Housing Property under state statute. A Brownfield clean up and redevelopment plan (the “Plan”) has been prepared to restore the environmental and economic viability of this parcel. Pursuant to OCBRA by- laws, a local committee has been appointed, participated in discussions regarding the proposed plan and project, reviewed the plan, and recommends its approval. The City of Pontiac has reviewed the Plan, and has been provided a reasonable opportunity to express views and recommendations regarding the Plan in accordance with Sections 13 (13) of the Act, and has concurred with the provisions of the Plan. The OCBRA, pursuant to and in accordance with Section 13 of the Act, has approved a resolution (attached) adopting the Plan, and recommends the adoption of the Plan by the Oakland County Board of Commissioners to be carried out within the City of Pontiac relating to the Auburn.Beacon redevelopment. The developer, Lighthouse of Oakland County, will assume Brownfield related eligible activity development costs estimated at $6,766,571. Costs include baseline environmental assessments, qualified rehabilitation, demolition activities. The cost of these eligible plan activities will be reimbursed to the developer by the OCBRA from tax capture based on the incremental difference on the taxable value of the property over a thirty (30) year period. Total tax capture consists of the following: Developer Reimbursement $6,344,507 State Revolving Fund $272,064 OCBRA Admin Fees $150,000 Total Tax Capture $6,766,571 No budget amendment is required as the budget already includes tax capture offsets. POLICY ANALYSIS The Property is comprised of two contiguous parcels located in the City of Pontiac. The northern parcel, 454 Auburn Avenue, is currently undeveloped. The southern parcel, 180 J. Hubbard Lane, includes three four-unit, townhomes totaling 20,431 square feet. The Property is 2.24 acres of land. The northern parcel is zoned R-4, Multiple Family Dwelling Elevator Apartment and the southern parcel is zoned R-3, Multiple Family Dwelling. They are located in an area of Pontiac that is characterized by commercial and residential properties. The three townhome buildings, commonly known as the Beacon Place Townhomes, was constructed between 2007 and 2008 and consists of three, two-story townhome buildings with basements. They appear to have been occupied since between 2007 and 2008 through present. The rehabilitation of the Beacon Place Townhomes will not alter the existing building footprints, but will include exterior repairs and landscaping, installation of new roofs and windows, interior installations of security systems, flooring, doors, trim, lighting, appliances, cabinets and countertops, toilets and bathtubs, mechanical systems and HVAC, as well as upgrades to elevators. The rehabilitation will preserve the three type A accessible units. The project will set aside several Permanent Supportive Housing (PSH) units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness), some of which will have Project Based Vouchers from the Pontiac Housing Commission targeting HOME ARP-qualifying populations. The new construction on the northern Property parcel identified as Auburn Place will consist of a 54- unit, five-story apartment building, including 45 one-bedroom and nine two-bedroom units. The project will set aside 29 PSH units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness) and the remaining 25 units will have Project Based Vouchers from the Pontiac Housing Commission and/or Oakland County Housing Commission targeting HOME ARP qualifying populations. It is currently anticipated that construction will begin in the Fall of 2024 and eligible activities will be completed within 18 months thereafter. It is estimated that there will be 47 temporary construction jobs created as a result of this development and at least 8 FTE property management, maintenance, and supportive services jobs created. Lighthouse is the sole sponsor/developer and formed Beacon Place Limited Dividend Housing Association, LLC to purchase the property and operate it. Therefore, Beacon Place Limited Dividend Housing Association LLC is considered the project developer. Lighthouse was established in 2019 when Lighthouse of Oakland County and South Oakland Shelter (LOC) combined forces and merged agencies. The development team is investing over $36 Million in the City of Pontiac for housing needs. Two (2) Projects – (Beacon Townhomes and Auburn Place Apartments) are associated with this Brownfield Plan and serve households seeking rental housing with income qualifying criteria ranging between 30%-60% Area Medium Income (AMI). As part of the financing for the development the development partners are seeking Low Income Housing Tax Credits (LIHTC) and Vouchers to serve the residents of the City of Pontiac. The development team is also requesting the establishment of Neighborhood Enterprise Zone (NEZ) District and associated property tax Certificate Exemption. BUDGET AMENDMENT REQUIRED: No Committee members can contact Michael Andrews, Policy and Fiscal Analysis Supervisor at 248.425.5572 or andrewsmb@oakgov.com or the department contact persons listed for additional information. CONTACT Bradley Hansen, Business Development Representative Senior ITEM REVIEW TRACKING Aaron Snover, Board of Commissioners Created/Initiated - 7/19/2024 AGENDA DEADLINE: 07/18/2024 6:00 PM ATTACHMENTS 1. EDI Packet Auburn.Beacon COMMITTEE TRACKING 2024-07-10 Economic Development & Infrastructure - Recommend to Board 2024-07-18 Full Board - Adopt Motioned by: Commissioner Christine Long Seconded by: Commissioner Ann Erickson Gault Yes: David Woodward, Michael Spisz, Michael Gingell, Penny Luebs, Karen Joliat, Kristen Nelson, Christine Long, Robert Hoffman, Philip Weipert, Gwen Markham, Angela Powell, Marcia Gershenson, William Miller III, Yolanda Smith Charles, Charles Cavell, Brendan Johnson, Ajay Raman, Ann Erickson Gault, Linnie Taylor (19) No: None (0) Abstain: None (0) Absent: (0) Passed 1 OAKLAND COUNTY BROWNFIELD REDEVELOPMENT AUTHORITY BROWNFIELD PLAN FOR THE AUBURN AND BEACON PLACE TOWNHOMES REDEVELOPMENT PROJECT Prepared by: Lighthouse 46156 Woodward Avenue Pontiac, MI 48342 Phone: 810-225-2800 todd@lighthousemi.org Jamieson Development Consulting 4495 Lynne Lane Contact Person: Anne Jamieson-Urena Phone:248-762-8701 anne@jamiesondevelop.com April 17, 2024 2 OAKLAND COUNTY 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-5 C. Summary of Eligible Activities II-7 D. Estimate of Captured Taxable Value and Tax II-10 Increment Revenues, Impact of Tax Increment Financing on Taxing Jurisdictions E. Plan of Financing; Maximum Amount II-11 Of Indebtedness F. Duration of Plan II-12 G. Effective Date of Inclusion II-12 H. Displacement/Relocation of Individuals II-12 On Eligible Property I. Local Brownfield Revolving Fund (LBRF) II-13 J. Brownfield Redevelopment Fund II-13 K. Developer’s Obligations, Representations and Warrants II-13 and Other Material that the Authority of Governing Body Considers Pertinent III. ATTACHMENTS A. Site Map (s) A-16 B. Legal Description(s) B-24 C. Project Description C-25 3 D.Estimated Cost of Eligible Activities E-27 E. TIF Tables F-32 1 I. INTRODUCTION In order to promote the revitalization of environmentally distressed and blighted areas within the boundaries of Oakland County, Michigan (the “County”), the County has established the Oakland County Brownfield Redevelopment Authority (the “OCBRA”) pursuant to Michigan Public Act 381 of 1996, as amended (“Act 381”). The primary purpose of this Brownfield Plan (“Plan”) is to promote the redevelopment of and private investment in certain “brownfield” properties within the City of Pontiac (“City”) and the County. 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 “brownfields.” By facilitating redevelopment of brownfield properties, this Plan is intended to promote economic growth for the benefit of the residents of the City of Pontiac and the County and all taxing units located within and benefited by the OCBRA. 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. A subsequent change to the identification or designation of developer after the approval of this Plan by the governing body (as defined in Act 381) 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 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 of the information required by Section 13(2) of Act 381. Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 2 II. GENERAL PROVISIONS A. Description of the Eligible Property (Section 13 (2)(h)) and the Project The property comprising the eligible property consists of two parcels, 454 Auburn Avenue and 180 J. Hubbard Lane. The parcels qualify as a “facility” and “housing property” in accordance with Act 381. The parcels and all tangible personal property located thereon will comprise the eligible property and is collectively referred to herein as the “Property.” Attachment A includes a site map and associated renderings of the Property. The Property is comprised of two contiguous parcels located in the City of Pontiac. The parcels are bounded by South Sanford Street, Auburn Avenue, South Francis Avenue, and Whittemore Street. The northern parcel, 454 Auburn Avenue, is currently undeveloped. The southern parcel, 180 J. Hubbard Lane, includes three four-unit, townhomes totaling 20,431 square feet. The Property is 2.24 acres of land. The northern parcel is zoned R-4, Multiple Family Dwelling Elevator Apartment and the southern parcel is zoned R-3, Multiple Family Dwelling. They are located in an area of Pontiac that is characterized by commercial and residential properties. The northern parcel of the Property can be accessed from Auburn Avenue to the north. The northern Property parcel consists of vacant, undeveloped land. It appears to have been unoccupied since the late 1970s, when the final of three structures (residential dwelling, apartment building, and hotel) was demolished. The southern parcel of the Property can be accessed from Whittemore Street to the south. The three townhome buildings, commonly known as the Beacon Place Townhomes, was constructed between 2007 and 2008 and consists of three, two-story townhome buildings with basements. They appear to have been occupied since between 2007 and 2008 through present. Parcel information is outlined below. Address 454 Auburn Avenue Parcel ID 64-14-33-205-034 Owner SOUTH OAKLAND SHELTER D/B/A LIGHTHOUSE MI Legal Description T3N, R10E, SEC 33 ASSESSOR’S PLAT NO 52 PART OF LOT 1, ALSO ALL OF LOT 2, ALSO PART OF LOT 3 ALL DESC AS BEG AT NE COR OF SD LOT 3, TH S 02-00-30 E 221.46 FT, TH S 88-00-40 W 265.12 FT, TH N 01-59-20 W 220 FT, TH N 87-41-50 E 265 FT TO BEG 2-23-07 FR 013, 014 & 015 Address 180 J. Hubbard Lane Parcel ID 64-14-33-205-035 Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 3 Owner Beacon Housing I Legal Description T3N, R10E, SEC 33, ASSESSOR’S PLAT NO 52 PART OF LOTS 1 & 3, ALSO ALL OF LOTS 4 & 5, ALSO THAT PART OF LOTS 6 & 7 LYING NLY OF N LINE OF WHITTEMORE ST AS NOW LAID OUT & EST ALL DESC AS BEG AT PT DIST S 02-00-30 E 221.46 FT FROM NE COR OF SD LOT 3, TH S 02-00-30 E 377.34 FT, TH S 87-38- 20 W 11.60 FT, TH S 86-32-32 W 120.15 FT, TH S 82-13-44 W 134.22 FT, TH N 01-59-20 W 394.02 FT, TH N 88-00-40 E 265.12 FT TO BEG 2-23-07 FR 013 TO 016 INCL, 018 & 019 Lighthouse is the sole sponsor/developer and formed Auburn Place Limited Dividend Housing Association and LLC Beacon Place Limited Dividend Housing Association, LLC to purchase, develop, and operate the property. Therefore, Beacon Place and Auburn Place Limited Dividend Housing Association LLC is considered the project developer (“Developer”). Lighthouse was established in 2019 when Lighthouse of Oakland County and South Oakland Shelter (LOC) combined forces and merged agencies. The development team is investing over $36 Million in the City of Pontiac for housing needs. Two (2) Projects –(Beacon Townhomes and Auburn Place Apartments) are associated with this Brownfield Plan and serve households seeking rental housing with income qualifying criteria ranging between 30%-60% Area Medium Income (AMI). As part of the financing for the development the development partners are seeking Low Income Housing Tax Credits (LIHTC) and Vouchers to serve the residents of the City of Pontiac. Further, the reduction in rental income based on providing affordable housing for these projects creates a further gap in the financial model and in addition to the environmental impacts and cost of construction for all three projects and the property tax burden decreases the viability of the success of these projects. As a result, the development team is also requesting the establishment of Neighborhood Enterprise Zone (NEZ) District and associated property tax Certificate Exemption. The NEZ and Brownfield TIF can work in combination to result in a NET reduction of property taxes over a 30-year period. There are extraordinary costs for redevelopment that include environmental due diligence, selective demolition, due care and response activities, and housing development activities cost to facilitate the redevelopment at these three properties. Act 381, PA 1996 as amended, Michigan’s Brownfield Redevelopment Financing Act, provides for the reimbursement of these extraordinary costs through the capture of increased taxes generated by additional private investment on Brownfield Eligible Property with the approval of a Brownfield Plan. The rehabilitation of the Beacon Place Townhomes will not alter the existing building footprints, but will include exterior repairs and landscaping, installation of new roofs and windows, interior installations of security systems, flooring, doors, trim, lighting, appliances, cabinets and countertops, toilets and bathtubs, mechanical systems and HVAC, Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 4 as well as upgrades to elevators. The rehabilitation will preserve the three type A accessible units. Project work will include the following in-unit amenities: coat closet, dishwasher, garbage disposal, mini-blinds, self-clean oven, and microwave. Project work will include the following building amenities: community room, elevator, on-site management, and common outdoor space. The project will set aside several Permanent Supportive Housing (PSH) units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness), some of which will have Project Based Vouchers from the Pontiac Housing Commission targeting HOME ARP-qualifying populations. The new construction on the northern Property parcel identified as Auburn Place will consist of a 54-unit, five-story apartment building, including 45 one-bedroom and nine two-bedroom units. Project work will include the following in-unit amenities: coat closet, dishwasher, garbage disposal, mini-blinds, patio/balcony, self-clean oven, and microwave. Project work will include the following building amenities: community room, elevator, on-site management, common outdoor spaces, and picnic area. The project will set aside 29 PSH units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness) and the remaining 25 units will have Project Based Vouchers from the Pontiac Housing Commission and/or Oakland County Housing Commission targeting HOME ARP qualifying populations. This project would provide many benefits to the City and the County, including: • Remediating contaminated soils at the site; • Developing a long vacant property in a neighborhood that has had issues with blight and economic decline; • Renovating existing housing; • Adding to the capacity to move homeless families and individuals in the City of Pontiac out of shelters and into permanent housing; and • Adding to the capacity to provide supportive services to homeless families and individuals in the City of Pontiac. It is currently anticipated that construction will begin in the Fall of 2024 and eligible activities will be completed within 18 months thereafter. The project description provided herein is a summary of the proposed development at the Property at the time of the adoption of the Plan. The actual development may vary from the project description provided herein (including, without limitation, any references to square footage or number of units), without necessitating an amendment to this Plan, so long as such variations are not material and/or arise as a result of changes in market and/or financing conditions affecting the project and/or are related to the addition or immaterial removal of amenities to the project. Any material changes, as determined by Oakland County Brownfield Redevelopment Authority (OCBRA) in its sole discretion, to the project description are subject to the approval of the OCBRA 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 detailed description of the project to be completed at the Property (the “Project”). Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 5 B. Basis of Eligibility (Section 13 (2)(h) and Section 2 (p)) The Property is considered “eligible property” as defined by Act 381, Section 2 because (a) the Property was previously utilized multi-family residential and commercial purposes; (b) it is located within the City of Pontiac, a qualified local governmental unit under Act 381; and (c) the Property is determined to be a “facility” and a “housing property” as defined by Act 381, as amended. According to Section 2(o)(ii), housing property must be located in a community that has identified a specific housing need and has absorption data or job growth data included in the brownfield plan. The proposed project serves a public purpose in the City of Pontiac by directly addressing the housing needs identified within Pontiac Housing Commission’s Housing Improvement and Action Plan that was approved in June 2023. This includes addressing the core housing and absorption needs of: Limited Supply of Attainable Rental Housing • Pontiac lacks enough rental housing for extremely low-income [30% AMI] individuals and families (equivalent to $24,200 in annual income for a three-person household according to the 2022 U.S. Department of Housing and Urban Development low-income requirements). There is also a shortage of attainable and available rentals for low-income [80% AMI] and very low-income [50%] renter households. Additionally, the demand remains high for lower cost units among higher income renters, making it increasingly difficult for extremely low-income households, compared to other renters, to find attainable housing in the city. Based on this data, the addition of the proposed units will directly address the demand for new, affordable housing stock in the City of Pontiac. Housing absorption data is included in the attached Rental Housing Market Feasibility Study prepared on June 13th, 2023 by Shaw Research & Consulting: • Based on MSHDA demand guidelines, overall capture rates of 26.9 percent (without Project Based Rental Assistance (PBRA) or retention of existing tenants) and 15.6 percent (including PBRA, but no retention) were calculated, demonstrating sufficient market depth for the successful development and absorption of the subject proposal. • Taking into consideration the proposed targeting structure and rental rates (including 85 PBRA units), overall positive occupancy levels throughout the PMA (at 97.9 percent), the overall characteristics of the target neighborhood, and also factoring in the success and rapid lease-up of the two most recent LIHTC properties within Pontiac (The Hamilton and Winston Commons were both absorbed in less than three months), a continued need for additional affordable housing is evident. As such, considering the characteristics of the subject proposal, the overall absorption period to reach 93 percent occupancy is estimated at roughly five to six months (assuming PBRA is included). Considering these factors, coupled with a Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 6 positive demand estimate, evidence presented within the market study suggests no market-related concerns are present, and a normal absorption period should be anticipated. Based on this data, the addition of the proposed units will directly address the demand for new, affordable housing stock in the City of Pontiac. Two (2) Phase I Environmental Site Assessments (ESA) were completed for 454 Auburn parcel dated January 26, 2024 and the 180 J Hubbard parcel dated May 18, 2023. These Phase I ESA reports identified the following Recognized Environmental Conditions (RECs) in connection with the Property parcels subject of this Plan: Use of fill to return to grade former basements on both Property parcels, historical presence of a drycleaner within the former hotel on the northern Property parcel (454 Auburn Avenue), a soil pile observed on the northern Property parcel from an unknown source and with an unknown purpose, various former uses of western and northern adjoining properties for a gasoline station, automotive repair facility, and/or current use as a used car dealership. As a result of the Phase I ESAs, Phase II ESA investigations were conducted at the Property in December 2023. The Phase II consisted of advancing thirteen soil borings and installing seven temporary monitoring wells and four soil gas wells throughout the Property. Two composite soil samples were also collected from the soil pile on the northern Property parcel. Borings were advanced to a maximum depth between 5 and 24 feet below ground surface (bgs). Groundwater was encountered at all of the boring locations. A total of 27 soil samples, six groundwater samples, and three soil gas samples were collected for various laboratory analysis of volatile organic compounds (VOCs), polynuclear aromatic hydrocarbons (PNAs), polychlorinated biphenyls (PCBs), and/or Michigan 10 Metals (10MM) or cadmium, chromium, and lead. Analytical results revealed concentrations of contaminants below the Department of Environment Great Lakes and Energy (EGLE) Generic Residential Cleanup Criteria (GRCC) and EGLE Residential Volatilization to Indoor Air Pathway (VIAP) Screening Levels (SLs), except for the following: • Arsenic and mercury in soil variously exceeding the Drinking Water Protection (DWP), Groundwater Surface Water Interface Protection (GSIP), and Direct Contact (DC) criteria and/or residential VIAP SLs; • Benzene in soil exceeding the DWP and Soil Volatilization to Indoor Air Inhalation (SVIAI) criteria and EGLE Residential VIAP SLs; • Chromium and lead in groundwater variously exceeding the Groundwater Surface Water (GSI) and/or Drinking Water (DW) criteria; • Napthalene in groundwater exceeding GSI and EGLE Residential VIAP SL; and • VOCs in groundwater variously exceeding GSI and DW criteria and/or EGLE Residential VIAP SLs. Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 7 ECT is currently completing a supplemental Phase II ESA to delineate and further assess the soil and groundwater conditions on the Property identified by ASTI. Following the results of the supplemental Phase II ESA, ECT will work in conjunction with EGLE to develop a Response Activity Plan (ResAp) and a Documentation of Due Care Compliance Plan (DDCC), to complete all appropriate due care compliance requirements as part of the Part 58 MSHDA-Rental Development Division Environmental Review Requirements. ASTI completed an asbestos-containing materials (ACM) inspection of the buildings on the southern Property parcel on November 10, 2023. ASTI collected 36 bulk samples from suspect ACMs for laboratory asbestos analysis. No materials sampled were identified as ACMs in the buildings. ASTI completed radon testing on the southern Property parcel between November 10 and 13, 2023. Testing consisted of placing a One Air-Chek Foil Bag test Kit in each building basement. Test results ranged between <0.3 and 5.0 pCi/L. Radon test results exceeded the EPA Action Level of 4.0 pCi/L at 160-2 J Hubbard Lane (the northern-most building). ASTI recommended additional testing of all units at 160 J Hubbard Lane. ASTI also stated that AARST and the EPA recommend retesting with short-term or long-term test kits whenever results are less than 8 pCi/L. C. Summary of Eligible Activities and Description of Costs (Section 13 (2)(a),(b)) The “eligible activities” that are intended to be carried out at the Property pursuant to this Plan are considered “eligible activities” as defined by Section 2 of Act 381, because they include a Baseline Environmental Site Assessment Activities (“BEA”), hazardous building materials survey, LBP and ACM abatement and installation of a radon system, as necessary, demolition, due care activities, response activities, housing development activities, and the development, preparation and implementation of a brownfield plan and/or work plan. Total Eligible Activities requested is $6,344,507. A summary of the cost included is below. These costs are inclusive of an EGLE Grant that is being sought to assist with the extraordinary cost of addressing existing contamination on the Property: Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 8 A summary of the eligible activities and the estimated cost of each eligible activity intended to be reimbursed with tax increment revenues generated and captured from the Property are shown in the table attached hereto as Attachment D. Department Specific Eligible Activity Estimated Total Cost of Eligible Activities for Brownfield Estimated Total Cost of EGLE Grant funding Act 381 Work Plan Eligible Activities Completion/Season/Year EGLE Pre- Approved Activities (Exempt) Total - Pre-approved Activities (Exempt)95,000.00$ 95,000.00$ EGLE Site Demolition - considered a response activity Sub Total - Demolition as allowable under Act 381 35,000.00$ 35,000.00$ Contingency 15%5,250.00$ 5,250.00$ Total - Demolition and Abatement Activities as allowable under A 40,250.00$ 40,250.00$ EGLE Due Care Activities Sub-Total Due Care Activities 1,051,528.00$ 841,528.00$ 210,000.00$ Contingency - 15%157,729$ 122,972$ 34,757$ Total - Due Care Activities 1,209,257.20$ 964,500.20$ 244,757.00$ Sub-Total -EGLE Department Specific Activities 1,344,507.20$ 964,500.20$ 380,007.00$ 1,724,790.00$ 1,724,790.00$ ongoing Sub-Total - Qualified Rehab 1,606,986.00$ 1,606,986.00$ 15% Contingency 241,047.90$ 241,047.90$ Total - Qualified Rehab 1,848,033.90$ 1,848,033.90$ Sub-Total - Infrastructure Improvements 1,171,457.00$ 1,171,457.00$ Contingency 15%175,719$ 175,719$ Total Infrastructure 1,347,175.55$ 1,347,175.55$ Sub-Total - MSDHA Housing Development Activities and PRL 4,919,999.45$ 4,919,999.45$ Grant Specific Activities and Contingency City or EGLE Signage 500.00$ 500.00$ Fall 2024 Grant/Loan Administration (up to 3% of grant or loan) - Quarterly Reports and review of invoices 30,000.00$ 30,000.00$ Spring 2024-Spring 2026 Closeout Report 5,000.00$ 5,000.00$ Spring 2026 Brownfield Plan Preparation 30,000.00$ 30,000.00$ Brownfield Plan Implementation 50,000.00$ 50,000.00$ 6,344,507$ 1,000,000$ 5,380,006$ Fall 2023-Fall 2024 Table 1 - Brownfield Plan and Act 381 Work Plan Eligible Activities - Auburn Apartments (New Construction) and Beacon Townhomes (Rehabilitation) - 454 Auburn and 180 J Hubbard - Pontiac, Oakland County, Michigan MSHDA Housing Development Activities Total Estimated Brownfield Activities Qualified Rehabilitation Infrastructure Fall 2024-Spring 2026 MSHDA Potential Rent Loss for Housing Spring 2024- Fall 2024 Summer 2024-Fall 2024 Fall 2024 - Spring 2025 Summer 2024-Spring 2026 Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 9 Unless otherwise agreed to in writing by the OCBRA, all eligible activities shall commence within eighteen (18) months after the date the governing body approves this Plan and be completed within three (3) years after execution of the Reimbursement Agreement (as that term is defined below). 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 as described below. Some eligible activities may commence prior to the adoption of this Plan and, to the extent permitted by Act 381, the costs of such eligible activities shall be reimbursable pursuant to the Reimbursement Agreement. To the extent permitted by Act 381, tax increment revenue generated by the Property will be captured by the OCBRA 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 OCBRA and the Developer after approval of this Plan (the “Reimbursement Agreement”). In the event this Plan contemplates the capture of tax increment revenue derived from “taxes levied for school operating purposes” (as defined by Section 2(vv) of Act 381 and hereinafter referred to as “School Taxes”), the Developer acknowledges and agrees that OCBRA’s 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 Michigan State Housing Development Authority (“MSHDA”) and the Michigan Department of Environment, Great Lakes, and Energy (“EGLE”) as may be required pursuant to Act 381, within 270 days after this Plan is approved by the governing body; or (ii) the Developer providing the OCBRA with evidence, satisfactory to OCBRA, 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 D 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 generated from the Property and captured by the OCBRA 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 or reimbursement, 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 D. As long as the total aggregate 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 and Michigan State Housing Development Authority MSHDA work plan. Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 10 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 pursuant to this Plan is attached as Attachment E. The figures included in Attachment E are estimates and are subject to change depending on actual assessed values and changes to annual millage rates. Please note that the total eligible activities currently exceed the TIF threshold, however, this is a placeholder should the TIF revenue increase based on an uncapping event or other circumstances. Personal property may be included as part of the eligible property and associated tax increment capture to the extent that it is taxable personal property. However, personal property is not included within the projections attached to this Plan. Tax increments are projected to be captured and applied to (i) the reimbursement of eligible activity costs and payment of OCBRA administrative and operating expenses, (ii) make deposits into the State Brownfield Redevelopment Fund (SBRF). Developer Maximum Reimbursement Total Proportionality School & Local Taxes Local-Only Taxes Total TOTAL 100%5,943,554$ -$ 5,943,554$ State 44.51%2,665,260$ -$ 2,665,260$ Local 55.49%3,322,391$ -$ 3,322,391$ TOTAL 100%5,943,554$ 5,943,554$ MSHDA 77.38%4,599,047$ 4,599,047$ EGLE 22.62%1,344,507$ -$ 1,344,507$ Developer Total Estimated Tax Reimbursement 5,943,554$ BRA Admin Fee Tax Reimbursement 150,000$ State Brownfield Redevelopment Fund Reimbursement $ 272,064 Local Brownfield Revolving Loan Fund $ - TOTAL 6,365,617$ Estimated Total Years of Plan: 30 Years Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 11 In no event shall the duration of this Plan exceed thirty-five (35) years following the date of the governing body’s resolution approving this Plan, nor shall the duration of the tax capture exceed the lesser of the period authorized under subsection (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 body’s resolution approving this Plan or such other date authorized by Act 381. The beginning date of the capture of tax increment revenues is anticipated to be the 2026 tax year (commencing with the Summer 2026 property taxes) with the base tax year being 2024. 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 OCBRA will reimburse the Developer for the cost of approved eligible activities, but only from tax increment revenues generated and captured from the Property. No advances have been or shall be made by the City of Pontiac or the OCBRA 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 OCBRA to fund such reimbursements and does not obligate the OCBRA 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. If agreed upon by the Developer and the OCBRA, and so long as the applicable agency/department of the State of Michigan approves an Act 381 including this Plan, the OCBRA may incur a note or bonded indebtedness to finance the purposes of this Plan; provided that any such note or bonded indebtedness contemplated by this section shall be (i) subject to approval by the OCBRA Board of Directors and other approvals required in accordance and compliance with Act 381 and applicable law; (ii) non-recourse to the OCBRA; and (iii) in an amount not to exceed the maximum amount of tax increment revenues authorized for capture. Reimbursements under the Reimbursement Agreement shall not exceed the cost of Eligible Activities permitted under this Plan. Furthermore, the Developer acknowledges and agrees that any eligible activities funded by a grant or loan that is forgiven, or for which the Developer receives a credit for, shall be ineligible for reimbursement under this Plan and shall not be included in any reimbursement requests to OCBRA by or on behalf of the Developer. However, any loans that the Developer is required to unconditionally repay shall be eligible for reimbursement under the Plan, subject to the Reimbursement Agreement. Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 12 F. Duration of Plan (Section 13(2)(f)) Subject to Section 13b(16) of Act 381, the beginning date and duration of capture of tax increment revenues for the Property shall occur in accordance with the tax increment financing (TIF) table in Attachment E. In no event, however, shall this Plan extend beyond the maximum term allowed by Section 13(b)(16) 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 days’ 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. Displacement/Relocation of Individuals on Eligible Property (Section 13(2)(i-l)) It is not anticipated that any tenants will be permanently relocated as a result the refinancing and rehabilitation of the Property. Tenants will be temporarily relocated due to replacing floor tile in the bathroom, which takes longer than a day. Temporary relocations will be to furnished vacant units at the Property. No temporary relocation is expected to last longer than a week. The developer will bear the expense of all temporary relocation and tenants will be provided with assistance as necessary and a Relocation Plan will be provided. Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 13 I. Local Brownfield Revolving Fund (“LBRF”) (Section 8; Section 13(2)(m)) The OCBRA has established a Local Brownfield Revolving Fund (LBRF). Capture for the LBRF will occur for up to five (5) years following developer reimbursement, if available. The funds deposited into the LBRF as part of this Plan will be used in accordance with the requirements of Act 381, as amended. J. Brownfield Redevelopment Fund (Section 8a; Section 13(2)(m)) The OCBRA 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 211.901 to 211.906, 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 OCBRA pays an amount equal to 50% of the taxes levied under the state education tax, 1993 PA 331, MCL 211.901 to 211.906, 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 211.901 to 211.906, on that parcel were not paid to the Department of Treasury under Section 13b(14) of Act 381. K. Other Material that the Authority or Governing Body Considers Pertinent (Section 13 (2)(m)) and Developer’s Obligations, Representations and Warrants (Section 13(2)(m)) The Brownfield Redevelopment Authority and the County Board of Commissioners as the Governing Body, in accordance with the Act, may amend this Plan in order to fund additional eligible activities associated with the Project described herein. The Developer anticipates approval of a tax abatement under the Neighborhood Enterprise Zone Act, P.A. 147 of 1992, as amended (“NEZ”). If approved, the NEZ will reduce the property tax obligations of the subject property for the period applicable under the approved abatement certificate, thereby reducing the amount of tax increment revenues available under this Plan. Assumption of this reduction is included in the tax capture projections provided with this Plan. Notwithstanding the tax capture projections described in Table 3, the OCBRA shall be permitted to capture tax increment revenue derived from Local and State Taxes, or Specific Taxes that are considered Local Taxes, during the abatement period. The Developer is currently pursuing Low Income Housing Tax Credits (LIHTC), MSHDA HOME – ARP, MSHDA Permanent Mortgage, and Oakland County Housing Trust Fund financing. The Developer shall comply with all applicable laws, ordinances, executive orders, or other regulations imposed by the City of Pontiac or any other properly constituted governmental authority with respect to the Property and shall use the Property in accordance with this Plan. Exhibit A Auburn and Beacon Place Townhomes Brownfield Redevelopment Plan 14 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 ESA, and if appropriate, a Phase II ESA, Baseline Environmental Assessment, and due care plan, pursuant to Part 201 of Michigan’s Natural Resources and Environmental Protection Act (MCL 324.20101 et seq.), has been performed or will be performed on the Property. Except as otherwise agreed to by the OCBRA, any breach of a representation or warranty contained in this Plan shall render the Plan invalid, subject to the Developer’s reasonable opportunity to cure as described in the Reimbursement Agreement. III. ATTACHMENTS ATTACHMENT A Site Map Figure 1 Site Location Map 454 Auburn Avenue and 180 J. Hubbard Lane, Pontiac, Michigan 48342 Source: Bing Maps Figure 2 Scaled Area Map 454 Auburn Avenue and 180 J. Hubbard Lane, Pontiac, Michigan 48342 Source: Oakland County Property Gateway PONTIAC, MICHIGAN LIGHTHOUSEAFFORDABLE HOUSING454 AUBURN ROAD SHEET 1 OF 1 AUBURN PLACE - NORTH ELEVATION (AUBURN ROAD SIDE) 0 8’ 16’ 24’ 1”=8’-0” COMPOSITE PANEL SIDING 10 ’ - 4 ” 1ST FLOOR 10 ’ - 4 ” VA R I E S 10 ’ - 4 ” 4TH FLOOR 5TH FLOOR ROOF FIN WALL AT BALCONY DECORATIVE RECESSED COMPOSITE HEAD PANEL & SURROUND PANEL METAL HVAC GRILLES 3RD FLOOR 2ND FLOOR 14 ’ - 0 ” 10 ’ - 4 ” 56 ’ - 0 ” COMPOSITE PANEL COL. ENCL. MAIN PEDESTRIANENTRY PUBLIC PLAZA AREA METAL COPING METAL GUARD RAILING STONE SILL BRICK DECORATIVE WALL MTD. LIGHT FIXTURE BURNISHED BLOCK @ 1ST FLOOR METAL & GLASS STOREFRONT DECORATIVE COMPOSITE PANEL COLUMN ENCLOSURES O. A . B U I L D I N G H T . OWNER REVIEW10.09.23 A D FINISH FLOOR FIRST FLOOR - BUILDING 1&2 FINISH FLOOR SECOND FLOOR - BUILDING 1&2 FINISH FLOOR TRUSS BEARING - BUILDING 1&2 FINISH FLOOR FIRST FLOOR - BUILDING 1&3 FINISH FLOOR SECOND FLOOR - BUILDING 1&4 FINISH FLOOR TRUSS BEARING- BUILDING 1&5 E B D D F D D FB REPLACE GUTTER AND DOWNSPOUTS REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD PROVIDE AND INSTALL NEW GARAGE DOOR AND OPNERPROVIDE AND INSTALL NEW GARAGE DOOR AND OPNER REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPAIR DAMAGED PORCH, RAILING , AND STAIRS PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING FINISH FLOOR FIRST FLOOR - BUILDING 1&2 FINISH FLOOR SECOND FLOOR - BUILDING 1&2 FINISH FLOOR TRUSS BEARING - BUILDING 1&2 FINISH FLOOR FIRST FLOOR - BUILDING 1&3 FINISH FLOOR SECOND FLOOR - BUILDING 1&4 FINISH FLOOR TRUSS BEARING- BUILDING 1&5 H H A H H A G H DDDD DDDD REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING REPAIR DAMAGED PORCH, RAILING , AND STAIRS REPAIR DAMAGED PORCH, RAILING , AND STAIRS FINISH FLOOR FIRST FLOOR - BUILDING 1&2 FINISH FLOOR SECOND FLOOR - BUILDING 1&2 FINISH FLOOR TRUSS BEARING - BUILDING 1&2 FINISH FLOOR FIRST FLOOR - BUILDING 1&3 FINISH FLOOR SECOND FLOOR - BUILDING 1&4 FINISH FLOOR TRUSS BEARING- BUILDING 1&5 H A G H H A G H J J J J DDDD DDDD REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT REPLACE ANY DAMAGED HORIZONTAL SIDING PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING REPAIR DAMAGED PORCH, RAILING , AND STAIRS REPAIR DAMAGED PORCH, RAILING , AND STAIRS FINISH FLOOR FIRST FLOOR - BUILDING 1&2 FINISH FLOOR SECOND FLOOR - BUILDING 1&2 FINISH FLOOR TRUSS BEARING - BUILDING 1&2 A REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING REPAIR DAMAGED PORCH, RAILING , AND STAIRS REMOVE AND REPLACE GUTTER & DOWNSPOUT REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD FINISH FLOOR FIRST FLOOR - BUILDING 1&2 FINISH FLOOR SECOND FLOOR - BUILDING 1&2 FINISH FLOOR TRUSS BEARING - BUILDING 1&2 D REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING REPAIR DAMAGED PORCH, RAILING , AND STAIRS REMOVE AND REPLACE GUTTER & DOWNSPOUT REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD DRAWING NUMBER DRAWING TITLE KEY PLAN ARCHITECTS AND PLANNERS 550 E. NINE MILE ROAD FERNDALE, MICHIGAN, 48220 PHONE 248.543.4100 FAX 248.543.4141 FUSCO, SHAFFER & PAPPAS, INC. COPYRIGHT 2023 - FUSCO, SHAFFER & PAPPAS, INC. FSP PROJECT NO. DATE ISSUE SEAL EXTERIOR ELEVATION A.201 SOU23.007 MI C H I G A N RE N O V A T I O N O F BE A C O N T O W N H O M E S PO N T I A C SCALE:1/8" = 1'-0"A.201 BUILDING 1&2 - WEST ELEVATION1 SCALE:1/8" = 1'-0"A.201 BUILDING 1 - EAST ELEVATION2 SCALE:1/8" = 1'-0"A.201 BUILDING 2 - EAST ELEVATION3 SCALE:1/8" = 1'-0"A.201 BUILDING 1&2 - NORTH ELEVATION4 SCALE:1/8" = 1'-0"A.201 BUILDING 1&2 - SOUTH ELEVATION5 FINISH FLOOR FIRST FLOOR - BUILDING 3 SECOND FLOOR - BUILDING 3 TRUSS BEARING - BUILDING 3 10'-9" BASEMENT BUILDING #3 -15'-0 1/2" FINISH FLOOR FIRST FLOOR - UNIT CPH FINISH FLOOR SECOND FLOOR - UNIT CPH FINISH FLOOR TRUSS BEARING - UNIT CPH G D G D D D D H H A D G REPLACE ANY DAMAGED HORIZONTAL SIDING, TYP. REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REMOVE AND REPLACE GUTTER & DOWNSPOUT REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REPLACE ANY DAMAGED HORIZONTAL SIDING, TYP. REPAIR DAMAGED PORCH, RAILING , AND STAIRS FINISH FLOOR FIRST FLOOR - BUILDING 3 SECOND FLOOR - BUILDING 3 TRUSS BEARING - BUILDING 3 10'-9" BASEMENT BUILDING #3 -15'-0 1/2" FINISH FLOOR FIRST FLOOR - UNIT CPH FINISH FLOOR SECOND FLOOR - UNIT CPH FINISH FLOOR TRUSS BEARING - UNIT CPH PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. REPLACE ANY DAMAGED HORIZONTAL SIDING, TYP. REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. CUT OUT ANY DAMGED BRICK, TYP PROVIDE AND INSTALL NEW GARAGE DOOR AND OPNER REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT REPLACE ANY DAMAGED HORIZONTAL SIDING PROVIDE AND INSTALL NEW GARAGE DOOR AND OPNER CLEAN DECORRATIVE VENTS, TYP. F F D D E B F PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. FINISH FLOOR FIRST FLOOR - BUILDING 3 SECOND FLOOR - BUILDING 3 TRUSS BEARING - BUILDING 3 10'-9" D D D REPLACE ANY DAMAGED HORIZONTAL SIDING, TYP. REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. FINISH FLOOR FIRST FLOOR - UNIT CPH FINISH FLOOR SECOND FLOOR - UNIT CPH FINISH FLOOR TRUSS BEARING - UNIT CPH D D D REPLACE ANY DAMAGED HORIZONTAL SIDING, TYP. REMOVE ROOF SYSTEM. REPLACE WITH ASPHALT SHINGLES ON FELT PAPER AND ICE AND WATER SHIELD REMOVE AND REPLACE GUTTER & DOWNSPOUT PAINT ALL TRIM. REPAIR ANY DAMGED TRIM, TYP. DRAWING NUMBER DRAWING TITLE KEY PLAN ARCHITECTS AND PLANNERS 550 E. NINE MILE ROAD FERNDALE, MICHIGAN, 48220 PHONE 248.543.4100 FAX 248.543.4141 FUSCO, SHAFFER & PAPPAS, INC. COPYRIGHT 2023 - FUSCO, SHAFFER & PAPPAS, INC. FSP PROJECT NO. DATE ISSUE SEAL EXTERIOR ELEVATIONS A.202 SOU23.007 MI C H I G A N RE N O V A T I O N O F BE A C O N T O W N H O M E S PO N T I A C SCALE:1/8" = 1'-0"A.202 BUILDING 3 - NORTH ELEVATION1 SCALE:1/8" = 1'-0"A.202 BUILDING 3 - SOUTH ELEVATION2 SCALE:1/8" = 1'-0"A.202 BUILDING 3 - EAST ELEVATION3 SCALE:1/8" = 1'-0"A.202 BUILDING 3 - WEST ELEVATION4 ATTACHMENT B Legal Descriptions of Eligible Property to which the Plan Applies ATTACHMENT C Project Description PROJECT SUMMARY Project Name: Auburn Apartments and Beacon Place Townhomes Redevelopment Project Project Location: The Eligible Property is located at 454 Auburn Avenue and 180 J. Hubbard Lane in Pontiac, Oakland County, MI Type of Eligible Property: “Facility” and “Housing Property” Total Project Investment: ~$19,200,000 including land acquisition Eligible Activities: Baseline Environmental Site Assessment Activities (BEA), Due Care Activities, Additional Response Activities, Hazardous Building Material Survey, Asbestos and Lead Abatement, Housing Development Activities – and preparation and implementation of a Brownfield Plan and Act 381 Work Plan. Reimbursable Costs: $6,344,507 (Estimated Eligible Activities, contingency) $150,000 (Estimated BRA Administrative Fees) $272,064 (Estimated State Revolving Loan Fund) $0 (Estimated LSRRF to BRA) * can be modified to add 5 years of capture following the reimbursement of Eligible Activities provided that the 35 years is not exceeded in the Brownfield Plan Total: $6,365,617 Years to Complete Payback: 30 Years Base TV/New ITV Estimate: $213,940/$3,787,660 Job Creation: There will be 47 temporary construction jobs created as a result of this development and at least 8 FTE property management, maintenance, and supportive services jobs created. Project Timeline: Following approval of the supporting incentives that are anticipated to include an NEZ tax abatement and Brownfield TIF for the project it is expected that the eligible activities will begin in the Fall of 2024 with a completion date of Fall 2026. Project Overview: The Property consists of two contiguous parcels located off of J Hubbard and Auburn Avenue. The subject property is 2.24 acres of land that includes three (3), four-unit, townhomes totaling 20,431 square feet and vacant land. The northern parcel is zoned R-4, Multiple Family Dwelling and the southern parcel is zoned R-3, Multiple Family Dwelling. They are located in an area of Pontiac that is characterized by commercial and residential properties. A Phase I Environmental Site Assessment (ESA) was completed on the 454 Auburn vacant northern parcel, dated January 26, 2024, and a second Phase I ESA was completed for the 180 J Hubbard Auburn Townhome southern parcel, dated May 18, 2023. These Phase I ESA reports identified the following Recognized Environmental Conditions (RECs) in connection with the Property parcels subject of this Plan: Use of fill to return to grade former basements on both Property parcels, historical presence of a drycleaner within the former hotel on the northern Property parcel (454 Auburn Avenue), a soil pile observed on the northern Property parcel from an unknown source and with an unknown purpose, various former uses of western and northern adjoining properties for a gasoline station, automotive repair facility, and/or current use as a used car dealership. As a result of the Phase I ESAs, Phase II ESA investigations were conducted at the Property in December 2023. The Phase II ESA consisted of advancing thirteen soil borings and installing seven temporary monitoring wells and four soil gas wells throughout the Property. Two composite soil samples were also collected from the soil pile on the northern Property parcel. Borings were advanced to a maximum depth between 5 and 24 feet below ground surface (bgs). Groundwater was encountered at all of the boring locations. A total of 27 soil samples, six groundwater samples, and three soil gas samples were collected for various laboratory analysis of volatile organic compounds (VOCs), polynuclear aromatic hydrocarbons (PNAs), polychlorinated biphenyls (PCBs), and/or Michigan 10 Metals (10MM) or cadmium, chromium, and lead. Analytical results revealed concentrations of contaminants below the Department of Environment Great Lakes and Energy (EGLE) Generic Residential Cleanup Criteria (GRCC) and EGLE Residential Volatilization to Indoor Air Pathway (VIAP) Screening Levels (SLs), except for the following: • Arsenic and mercury in soil variously exceeding the Drinking Water Protection (DWP), Groundwater Surface Water Interface Protection (GSIP), and Direct Contact (DC) criteria and/or residential VIAP SLs; • Benzene in soil exceeding the DWP and Soil Volatilization to Indoor Air Inhalation (SVIAI) criteria and EGLE Residential VIAP SLs; • Chromium and lead in groundwater variously exceeding the Groundwater Surface Water (GSI) and/or Drinking Water (DW) criteria; • Napthalene in groundwater exceeding GSI and EGLE Residential VIAP SL; and • VOCs in groundwater variously exceeding GSI and DW criteria and/or EGLE Residential VIAP SLs. ECT is currently completing a supplemental Phase II ESA to delineate and further assess the soil and groundwater conditions on the Property identified. Following the results of the supplemental Phase II ESA, ECT will work in conjunction with EGLE to develop a Remedial Action Plan (RAP) and seek approval of a Documentation of Due Care Compliance Plan (DDCC), to complete all appropriate due care compliance requirements as part of the Part 58 MSHDA-Rental Development Division Environmental Review Requirements. The rehabilitation of the Beacon Townhomes will not alter the existing building footprint but will include qualified rehabilitation activities including: exterior repairs and landscaping, installation of new roofs and windows, interior installations of security systems, flooring, doors, trim, lighting, appliances, cabinets and countertops, toilets and bathtubs, mechanical system and HVAC, as well as upgrades to the elevator. Project work will include the following building amenities: community room, elevator, on-site management, and common outdoor space. The project will set aside Permanent Supportive Housing (PSH) units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness), some of which will have Project Based Vouchers from the Pontiac Housing Commission targeting HOME ARP-qualifying populations serving households earning 30%-60% area median income (AMI). The new construction of the Auburn Apartments on the northern Property parcel will consist of a 54-unit, five-story apartment building, including forty-five (45) one-bedroom and nine (9) two- bedroom units. Project work will include the following in-unit amenities: coat closet, dishwasher, garbage disposal, mini-blinds, patio/balcony, self-clean oven, and microwave. Project work will include the following building amenities: community room, elevator, on-site management, common outdoor spaces, and picnic area. The project will set aside 29 PSH units preferenced for households with the highest vulnerabilities (i.e. experiencing literal homelessness) and the remaining 25 units will have Project Based Vouchers from the Pontiac Housing Commission and/or Ferndale Housing Commission targeting HOME ARP qualifying populations. Lighthouse is the sole sponsor/developer and formed Beacon Place Limited Dividend Housing Association (LDHA), LLC; and Auburn Place LDHA, LLC to purchase the property and operate the housing property. In order for the project to be financially viable and to secure MSDHA financing the development team is seeking support for this Brownfield Plan that utilizes Tax Increment Financing (TIF) to offset the cost of rehab and brownfield eligible activities for all both projects. Additionally, consideration for a Neighborhood Enterprise Zone (NEZ) tax exemption is also being sought. 111537.000001 4889-9107-2350.1 Auburn Place Project – Organizational Chart Auburn Place Limited Dividend Housing Association LLC a Michigan limited liability company EIN: _____________________ Michigan LDHA Auburn Place MM LLC a Michigan limited liability company EIN: _____________________ 100% Membership Managing Member Spero Housing Group a Michigan nonprofit corporation Sole Member Guarantor Developer PLACEHOLDER FOR INVESTOR MEMBER TO BE ADMITTED AS 99% MEMBER and EXISTING MEMBER WILL CHANGE TO 1% MEMBER 111537.000004 4854-2453-7438.1 Beacon Place Project – Organizational Chart Beacon Place Limited Dividend Housing Association LLC a Michigan limited liability company EIN: _____________________ Michigan LDHA Beacon Place MM LLC a Michigan limited liability company EIN: _____________________ 100% Membership Managing Member Spero Housing Group a Michigan nonprofit corporation Sole Member Guarantor Developer PLACEHOLDER FOR INVESTOR MEMBER TO BE ADMITTED AS 99% MEMBER and EXISTING MEMBER WILL CHANGE TO 1% MEMBER ATTACHMENT D Estimated Cost of Eligible Activities Table Department Specific Eligible Activity Estimated Total Cost of Eligible Activities for Brownfield Estimated Total Cost of EGLE Grant funding Act 381 Work Plan Eligible Activities Completion/Season/Year EGLE Pre- Approved Activities (Exempt) Phase I Environmental Site Assessment (ESA)5,000.00$ 5,000.00$ Phase II Environmental Site Assessment, Soil Impacts Delineation, Urban Fill Characterization, and Due Care Planning 45,000.00$ 45,000.00$ Baseline Environmental Assessment (BEA) and updated Phase I ESA and Part 58 components 30,000.00$ 30,000.00$ RAP - Prior to Construction approval by EGLE 15,000.00$ 15,000.00$ Total - Pre-approved Activities (Exempt)95,000.00$ 95,000.00$ EGLE Site Demolition - considered a response activity Abandoned utilities, parking lots (asphalt/concrete), abandoned foundations, curbs and gutters, etc.35,000.00$ 35,000.00$ Sub Total - Demolition as allowable under Act 381 35,000.00$ 35,000.00$ Contingency 15%5,250.00$ 5,250.00$ Total - Demolition and Abatement Activities as allowable under Act 381 40,250.00$ 40,250.00$ EGLE Due Care Activities Health and Safety Plan(s) - specific to Due Care Activities 3,000.00$ 3,000.00$ Due Care Planning - Evaluation Due Care Plan(s) - on site construction management due care plan 5,000.00$ 5,000.00$ Due Care Plan-Post Construction - Documentation of Due Care Compliance Plan approved by EGLE 5,000.00$ 5,000.00$ Characterization of wastes for landfill disposal 36,628.00$ 36,628.00$ Existing Monitoring Well Abandonment 2,900.00$ 2,900.00$ Soil/Gas Vapor Mitigation System (GVMS) and radon systems 325,000.00$ 325,000.00$ Pumping, treatment, transportation, and/or disposal of contaminated groundwater (dewatering) *the lowest-cost feasible option must be provided to EGLE Pumping of accumulated water due to runoff or rain 10,000.00$ 10,000.00$ Treatment and discharge of contaminated groundwater (eg. National Pollutant Discharge Elimination System (NPDES)permin and storm discharge, discharge to a local sanitary system, etc.) 125,000.00$ 125,000.00$ Transportation and disposal of contaminated water (eg. Frac tank transportation and disposal at a licensed disposal facility)75,000.00$ 75,000.00$ Proper handling of contaminated Soil for export off site Disposal Soil Management-Transportation 35,000.00$ 35,000.00$ Soil Management-Disposal 200,000.00$ 200,000.00$ Backfill and compaction 25,000.00$ 25,000.00$ Silt fencing to prevent exacerbation 10,000.00$ 10,000.00$ Temporary Truck Wash Facility 8,000.00$ 8,000.00$ Due Care - Bid Specifications 5,500.00$ 5,500.00$ Engineering controls Infiltration prevention for stormwater and diversions barriers (topsoil, grass, mulch, gravel, asphalt, concrete or other acceptable cover)22,500.00$ 22,500.00$ Direct Contact/Demarcation Barrier under landscape areas and on and/or around utility trenches 33,000.00$ 33,000.00$ Environmental Field Activity & Field Oversight During Due Care Activities - Grant management and associated work plans 125,000.00$ 125,000.00$ Sub-Total Due Care Activities 1,051,528.00$ 841,528.00$ 210,000.00$ Contingency - 15%157,729$ 122,972$ 34,757$ Total - Due Care Activities 1,209,257.20$ 964,500.20$ 244,757.00$ Sub-Total -EGLE Department Specific Activities 1,344,507.20$ 964,500.20$ 380,007.00$ 1,724,790.00$ 1,724,790.00$ Masonry 33,000.00$ 33,000.00$ Rough Carpentry 64,950.00$ 64,950.00$ Finish Carpentry 92,921.00$ 92,921.00$ Insulation 22,500.00$ 22,500.00$ Roofing 163,700.00$ 163,700.00$ Siding 13,500.00$ 13,500.00$ Caulking and Exterior Sealants 13,653.00$ 13,653.00$ Doors / Hardware 96,000.00$ 96,000.00$ Windows 79,200.00$ 79,200.00$ Special Construction - Demo 76,536.00$ 76,536.00$ Gypsum Board 14,400.00$ 14,400.00$ Tiling 46,800.00$ 46,800.00$ Spring 2023-Winter 2024 Table 1 - Brownfield Plan and Act 381 Work Plan Eligible Activities - Auburn Apartments (New Construction ) and Beacon Townhomes(Rehabilitation) - 454 Auburn and 180 J Hubbard - Pontiac, Oakland County, Michigan MSHDA Housing Development Activities Qualified Rehabilitation Fall 2023-Spring 2025 MSHDA Potential Rent Loss for Housing Spring 2024- Fall 2025 Summer - Fall 2024 Fall 2024 - Fall 2025 Department Specific Eligible Activity Estimated Total Cost of Eligible Activities for Brownfield Estimated Total Cost of EGLE Grant funding Act 381 Work Plan Eligible Activities Completion/Season/Year Table 1 - Brownfield Plan and Act 381 Work Plan Eligible Activities - Auburn Apartments (New Construction ) and Beacon Townhomes(Rehabilitation) - 454 Auburn and 180 J Hubbard - Pontiac, Oakland County, Michigan Cabinets and Casework 60,000.00$ 60,000.00$ Resilient Flooring 102,900.00$ 102,900.00$ Temporary Site Security 7,500.00$ 7,500.00$ Painting 128,316.00$ 128,316.00$ Specialties 30,400.00$ 30,400.00$ Plumbing, HVAC, Electrical 252,000.00$ 252,000.00$ Relocation of Existing (Active) Utilities 50,000.00$ 50,000.00$ Builders Overhead/Profit/General Requirements 203,810.00$ 203,810.00$ Permits/Tap fees/Bond/Cost Certification 54,900.00$ 54,900.00$ Sub-Total - Qualified Rehab 1,606,986.00$ 1,606,986.00$ 15% Contingency 241,047.90$ 241,047.90$ Total - Qualified Rehab 1,848,033.90$ 1,848,033.90$ Asphalt Paving (SF)150,150.00$ 150,150.00$ Curb and Gutter (LF)28,600.00$ 28,600.00$ Concrete Pavement - Sidewalks 38,250.00$ 38,250.00$ Concrete Pavement - stamped concrete 6,600.00$ 6,600.00$ Concrete Pavement - HD Concrete 10,000.00$ 10,000.00$ Concrete Pavement - Road Patching 7,380.00$ 7,380.00$ Irrigation - Allowance 30,000.00$ 30,000.00$ Site Utilities (inclusive of storm water management)642,816.00$ 642,816.00$ Roads/Walks 43,750.00$ 43,750.00$ Water Mains and Service Lines (inc. taps)23,500.00$ 23,500.00$ Field Project Management & Field Oversight During Infrastructure Improvements 44,683.00$ 44,683.00$ Infrastructure Improvements - Soft Costs 16,978.00$ 16,978.00$ Sub-Total - Infrastructure Improvements 1,171,457.00$ 1,171,457.00$ Contingency 15%175,719$ 175,719$ Total Infrastructure 1,347,175.55$ 1,347,175.55$ Sub-Total - MSDHA Housing Development Activities and PRL 4,919,999.45$ 4,919,999.45$ Grant Specific Activities and Contingency City or EGLE Signage 500.00$ 500.00$ Fall 2024 Grant/Loan Administration (up to 3% of grant or loan) - Quarterly Reports and review of invoices 30,000.00$ 30,000.00$ Fall 2024-Spring 2026 Closeout Report 5,000.00$ 5,000.00$ Spring 2026 Brownfield Plan Preparation 30,000.00$ 30,000.00$ Brownfield Plan Implementation 50,000.00$ 50,000.00$ 6,344,507$ 1,000,000$ 5,380,006$ Total Estimated Brownfield Activities Infrastructure Fall 2023-Spring 2025 Summer 2024-Spring 2026 ATTACHMENT E TIF Tables Tax Increment Revenue Capture Estimates Auburn Apartments Redevelopment - NEZ New Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 1.5%: NEZ Tax Abatement on Residential Portion (PA 147)0.625% Brownfield Plan Year 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Calendar Year 2024-2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Base Land LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ Estimated New TV 36,480$ 37,027$ 37,583$ 38,146$ 38,719$ 39,299$ 39,889$ 40,487$ 41,094$ 41,711$ 42,337$ 42,972$ 43,616$ Incremental Difference (New TV - Base TV)30,480$ 6,000$ 6,547$ 7,103$ 7,666$ 8,239$ 8,819$ 9,409$ 10,007$ 10,614$ 11,231$ 11,857$ 12,492$ 13,136$ Base Building Building- Ad Valorem Base Year set in 2022 *Base Taxable Value 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Estimated New TV 3,781,660$ 3,838,385$ 3,895,961$ 3,954,400$ 4,013,716$ 4,073,922$ 4,135,031$ 4,197,056$ 4,260,012$ 4,323,912$ 4,388,771$ 4,454,602$ 4,521,421$ Incremental Difference (New TV - Base TV)-$ 3,781,660$ 3,838,385$ 3,895,961$ 3,954,400$ 4,013,716$ 4,073,922$ 4,135,031$ 4,197,056$ 4,260,012$ 4,323,912$ 4,388,771$ 4,454,602$ 4,521,421$ Final Combined Parent Parcel - Ad Valorem Base Year set in 2022 *Base Taxable Value 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ Estimated New TV 3,818,140$ 3,875,412$ 3,933,543$ 3,992,546$ 4,052,435$ 4,113,221$ 4,174,919$ 4,237,543$ 4,301,106$ 4,365,623$ 4,431,107$ 4,497,574$ 4,565,038$ Incremental Difference (New TV - Base TV)30,480$ 3,787,660$ 3,844,932$ 3,903,063$ 3,962,066$ 4,021,955$ 4,082,741$ 4,144,439$ 4,207,063$ 4,270,626$ 4,335,143$ 4,400,627$ 4,467,094$ 4,534,558$ Post Development Taxable Value -$ 3,818,140$ 3,875,412$ 3,933,543$ 3,992,546$ 4,052,435$ 4,113,221$ 4,174,919$ 4,237,543$ 4,301,106$ 4,365,623$ 4,431,107$ 4,497,574$ 4,565,038$ School Capture *no capture Millage Rate NEZ New 13 State Education Tax (SET)6.0000 2.8710 183$ 10,893$ 11,059$ 11,228$ 11,399$ 11,573$ 11,749$ 11,928$ 12,110$ 12,294$ 12,481$ 12,671$ 12,864$ 27,207$ School Operating Tax 18.0000 8.6131 549$ 32,680$ 33,178$ 33,684$ 34,198$ 34,719$ 35,248$ 35,785$ 36,330$ 36,883$ 37,444$ 38,014$ 38,593$ 81,622$ School Total 24.0000 11.4841 732$ 43,573$ 44,238$ 44,912$ 45,597$ 46,292$ 46,997$ 47,713$ 48,440$ 49,177$ 49,926$ 50,686$ 51,457$ 108,829$ 44.51% Local Capture Millage Rate Pontiac City Operating 12.0000 5.7421 366$ 21,787$ 22,119$ 22,456$ 22,798$ 23,146$ 23,499$ 23,857$ 24,220$ 24,589$ 24,963$ 25,343$ 25,728$ 34,068$ Library 0.9679 0.4631 30$ 1,757$ 1,784$ 1,811$ 1,839$ 1,867$ 1,895$ 1,924$ 1,954$ 1,983$ 2,013$ 2,044$ 2,075$ 4,389$ County Operating 3.9686 1.8990 121$ 7,205$ 7,315$ 7,427$ 7,540$ 7,655$ 7,771$ 7,890$ 8,010$ 8,132$ 8,256$ 8,381$ 8,509$ 11,267$ County Parks & Rec 0.3431 0.1642 10$ 623$ 632$ 642$ 652$ 662$ 672$ 682$ 692$ 703$ 714$ 725$ 736$ 1,556$ Transportation 0.9500 0.4546 29$ 1,725$ 1,751$ 1,778$ 1,805$ 1,832$ 1,860$ 1,889$ 1,917$ 1,947$ 1,976$ 2,006$ 2,037$ 4,308$ HCMA 0.2070 0.0991 6$ 376$ 382$ 387$ 393$ 399$ 405$ 412$ 418$ 424$ 431$ 437$ 444$ 939$ OIS Allocated 0.1881 0.0900 6$ 342$ 347$ 352$ 357$ 363$ 368$ 374$ 380$ 385$ 391$ 397$ 403$ 853$ OIS Voted 2.9777 1.4248 91$ 5,406$ 5,489$ 5,572$ 5,657$ 5,743$ 5,831$ 5,920$ 6,010$ 6,101$ 6,194$ 6,289$ 6,384$ 13,503$ OCC 1.4891 0.7125 45$ 2,704$ 2,745$ 2,787$ 2,829$ 2,872$ 2,916$ 2,960$ 3,005$ 3,051$ 3,098$ 3,145$ 3,193$ 6,752$ Sinking Fund 0.7980 0.3818 24$ 1,449$ 1,471$ 1,493$ 1,516$ 1,539$ 1,563$ 1,586$ 1,611$ 1,635$ 1,660$ 1,685$ 1,711$ 3,619$ Cap Improve 1.3639 0.6526 42$ 2,476$ 2,514$ 2,552$ 2,591$ 2,631$ 2,671$ 2,711$ 2,753$ 2,795$ 2,837$ 2,880$ 2,924$ 6,185$ Sanitation 2.7281 1.3054 83$ 4,953$ 5,029$ 5,105$ 5,183$ 5,262$ 5,342$ 5,424$ 5,506$ 5,590$ 5,675$ 5,761$ 5,849$ 12,371$ Senior Services 0.4839 0.2315 15$ 879$ 892$ 906$ 919$ 933$ 948$ 962$ 977$ 992$ 1,007$ 1,022$ 1,038$ 2,194$ Youth Services 1.4519 0.6947 44$ 2,636$ 2,676$ 2,717$ 2,758$ 2,800$ 2,843$ 2,886$ 2,930$ 2,975$ 3,020$ 3,066$ 3,113$ 6,584$ Local Total 29.9173 14.3156 912$ 54,316$ 55,145$ 55,985$ 56,839$ 57,705$ 58,584$ 59,477$ 60,383$ 61,302$ 62,235$ 63,183$ 64,144$ 108,586$ 55.49% Non-Capturable Millages Millage Rate School Debt 2.0000 0.9570 61$ 3,631$ 3,686$ 3,743$ 3,800$ 3,858$ 3,916$ 3,976$ 4,037$ 4,098$ 4,160$ 4,224$ 4,288$ 9,069$ DIA 0.1945 0.0931 6$ 353$ 359$ 364$ 370$ 375$ 381$ 387$ 393$ 399$ 405$ 411$ 417$ 882$ Zoo 0.0945 0.0452 3$ 172$ 174$ 177$ 180$ 182$ 185$ 188$ 191$ 194$ 197$ 200$ 203$ 429$ Total Non-Capturable Taxes 2.2890 1.0953 70$ 4,156$ 4,219$ 4,283$ 4,349$ 4,415$ 4,482$ 4,551$ 4,620$ 4,690$ 4,762$ 4,834$ 4,908$ 10,380$ Total Millages 56.2063 47.85% Total Brownfield Capturable Millages 53.9173 26.8950 1,713$ 1,747$ 1,782$ 1,818$ 1,854$ 1,891$ 1,929$ 1,968$ 2,007$ 2,047$ 2,088$ 2,130$ 2,173$ 2,216$ Tax Increment Revenue Capture Estimates Auburn Apartments Redevelopment - NEZ New Pontiac,Oakland County, Michigan 2024 Total Brownfield Capturable Millages During NEZ Period and Following 97,889$ 99,382$ 100,898$ 102,436$ 103,997$ 105,581$ 107,190$ 108,822$ 110,479$ 112,161$ 113,868$ 115,601$ 217,416$ NEZ Tax Abatement SAVINGS NOT PAID 1,472,339$ 109,098$ 110,726$ 112,378$ 114,054$ 115,756$ 117,483$ 119,235$ 121,014$ 122,819$ 124,651$ 126,510$ 128,397$ 24,859$ Taxes Due - per year 1,713$ 103,792$ 105,384$ 106,999$ 108,639$ 110,303$ 111,993$ 113,708$ 115,450$ 117,217$ 119,011$ 120,833$ 122,681$ 230,011$ Total Brownfield Reimbursement between Auburn and Beacon 89,851$ 91,496$ 93,107$ 94,742$ 96,401$ 98,086$ 99,795$ 101,531$ 103,292$ 105,080$ 106,894$ 108,736$ 203,588$ Out of pocket TAXES 15,655$ 15,670$ 15,710$ 15,752$ 15,794$ 15,837$ 15,881$ 15,926$ 15,972$ 16,020$ 16,068$ 16,118$ 28,640$ Tax Increment Revenue Capture Estimates Auburn Apartments Redevelopment - NEZ New Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 1.5%: Brownfield Plan Year Calendar Year Base Land LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Base Building Building- Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Final Combined Parent Parcel - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Post Development Taxable Value School Capture *no capture Millage Rate NEZ New State Education Tax (SET)6.0000 2.8710 School Operating Tax 18.0000 8.6131 School Total 24.0000 11.4841 44.51% Local Capture Millage Rate Pontiac City Operating 12.0000 5.7421 Library 0.9679 0.4631 County Operating 3.9686 1.8990 County Parks & Rec 0.3431 0.1642 Transportation 0.9500 0.4546 HCMA 0.2070 0.0991 OIS Allocated 0.1881 0.0900 OIS Voted 2.9777 1.4248 OCC 1.4891 0.7125 Sinking Fund 0.7980 0.3818 Cap Improve 1.3639 0.6526 Sanitation 2.7281 1.3054 Senior Services 0.4839 0.2315 Youth Services 1.4519 0.6947 Local Total 29.9173 14.3156 55.49% Non-Capturable Millages Millage Rate School Debt 2.0000 0.9570 DIA 0.1945 0.0931 Zoo 0.0945 0.0452 Total Non-Capturable Taxes 2.2890 1.0953 Total Millages 56.2063 47.85% Total Brownfield Capturable Millages 53.9173 26.8950 0.750%0.875% 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 30,480$ 30,480$ 44,270$ 44,934$ 13,790$ 14,454$ 0 0 4,589,243$ 4,658,081$ 4,589,243$ 4,658,081$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 30,480$ 4,633,513$ 4,703,016$ 4,773,561$ 4,845,164$ 4,917,842$ 4,991,610$ 5,066,484$ 5,142,481$ 5,219,618$ 5,297,912$ 5,377,381$ 5,458,042$ 5,539,912$ 5,623,011$ 4,603,033$ 4,672,536$ 4,743,081$ 4,814,684$ 4,887,362$ 4,961,130$ 5,036,004$ 5,112,001$ 5,189,138$ 5,267,432$ 5,346,901$ 5,427,562$ 5,509,432$ 5,592,531$ 4,633,513$ 4,703,016$ 4,773,561$ 4,845,164$ 4,917,842$ 4,991,610$ 5,066,484$ 5,142,481$ 5,219,618$ 5,297,912$ 5,377,381$ 5,458,042$ 5,539,912$ 5,623,011$ 14 15 27,618$ 28,035$ 28,458$ 28,888$ 29,324$ 29,767$ 30,216$ 30,672$ 31,135$ 31,605$ 32,081$ 32,565$ 33,057$ 33,555$ 82,855$ 84,106$ 85,375$ 86,664$ 87,973$ 89,300$ 90,648$ 92,016$ 93,404$ 94,814$ 96,244$ 97,696$ 99,170$ 100,666$ 110,473$ 112,141$ 113,834$ 115,552$ 117,297$ 119,067$ 120,864$ 122,688$ 124,539$ 126,418$ 128,326$ 130,261$ 132,226$ 134,221$ 41,469$ 49,083$ 56,917$ 57,776$ 58,648$ 59,534$ 60,432$ 61,344$ 62,270$ 63,209$ 64,163$ 65,131$ 66,113$ 67,110$ 4,455$ 4,523$ 4,591$ 4,660$ 4,730$ 4,802$ 4,874$ 4,948$ 5,023$ 5,098$ 5,175$ 5,253$ 5,333$ 5,413$ 13,714$ 16,233$ 18,823$ 19,108$ 19,396$ 19,689$ 19,986$ 20,287$ 20,594$ 20,904$ 21,220$ 21,540$ 21,865$ 22,195$ 1,579$ 1,603$ 1,627$ 1,652$ 1,677$ 1,702$ 1,728$ 1,754$ 1,780$ 1,807$ 1,835$ 1,862$ 1,890$ 1,919$ 4,373$ 4,439$ 4,506$ 4,574$ 4,643$ 4,713$ 4,784$ 4,856$ 4,930$ 5,004$ 5,080$ 5,156$ 5,234$ 5,313$ 953$ 967$ 982$ 997$ 1,012$ 1,027$ 1,042$ 1,058$ 1,074$ 1,090$ 1,107$ 1,124$ 1,140$ 1,158$ 866$ 879$ 892$ 906$ 919$ 933$ 947$ 962$ 976$ 991$ 1,006$ 1,021$ 1,036$ 1,052$ 13,706$ 13,913$ 14,123$ 14,337$ 14,553$ 14,773$ 14,996$ 15,222$ 15,452$ 15,685$ 15,921$ 16,162$ 16,405$ 16,653$ 6,854$ 6,958$ 7,063$ 7,170$ 7,278$ 7,388$ 7,499$ 7,612$ 7,727$ 7,844$ 7,962$ 8,082$ 8,204$ 8,328$ 3,673$ 3,729$ 3,785$ 3,842$ 3,900$ 3,959$ 4,019$ 4,079$ 4,141$ 4,203$ 4,267$ 4,331$ 4,397$ 4,463$ 6,278$ 6,373$ 6,469$ 6,567$ 6,666$ 6,766$ 6,869$ 6,972$ 7,077$ 7,184$ 7,293$ 7,403$ 7,514$ 7,628$ 12,558$ 12,747$ 12,940$ 13,135$ 13,333$ 13,534$ 13,739$ 13,946$ 14,156$ 14,370$ 14,587$ 14,807$ 15,030$ 15,257$ 2,227$ 2,261$ 2,295$ 2,330$ 2,365$ 2,401$ 2,437$ 2,474$ 2,511$ 2,549$ 2,587$ 2,626$ 2,666$ 2,706$ 6,683$ 6,784$ 6,886$ 6,990$ 7,096$ 7,203$ 7,312$ 7,422$ 7,534$ 7,648$ 7,763$ 7,880$ 7,999$ 8,120$ 119,389$ 130,492$ 141,900$ 144,042$ 146,217$ 148,424$ 150,664$ 152,937$ 155,245$ 157,587$ 159,965$ 162,378$ 164,827$ 167,313$ 9,206$ 9,345$ 9,486$ 9,629$ 9,775$ 9,922$ 10,072$ 10,224$ 10,378$ 10,535$ 10,694$ 10,855$ 11,019$ 11,185$ 895$ 909$ 923$ 936$ 951$ 965$ 980$ 994$ 1,009$ 1,025$ 1,040$ 1,056$ 1,072$ 1,088$ 435$ 442$ 448$ 455$ 462$ 469$ 476$ 483$ 490$ 498$ 505$ 513$ 521$ 528$ 10,536$ 10,695$ 10,857$ 11,021$ 11,187$ 11,356$ 11,527$ 11,701$ 11,878$ 12,057$ 12,239$ 12,424$ 12,611$ 12,801$ 2,260$ 2,306$ 2,352$ 2,399$ 2,447$ 2,496$ 2,546$ 2,597$ 2,649$ 2,701$ 2,756$ 2,811$ 2,867$ 2,924$ Tax Increment Revenue Capture Estimates Auburn Apartments Redevelopment - NEZ New Pontiac,Oakland County, Michigan 2024 Total Brownfield Capturable Millages During NEZ Period and Following NEZ Tax Abatement SAVINGS NOT PAID 1,472,339$ Taxes Due - per year Total Brownfield Reimbursement between Auburn and Beacon Out of pocket TAXES 229,862$ 242,633$ 255,734$ 259,595$ 263,513$ 267,491$ 271,528$ 275,625$ 279,784$ 284,006$ 288,290$ 292,639$ 297,054$ 301,534$ 16,061$ 9,298$ 242,659$ 253,328$ 266,591$ 270,616$ 274,701$ 278,847$ 283,055$ 287,327$ 291,662$ 296,063$ 300,530$ 305,063$ 309,665$ 314,335$ 216,041$ 228,818$ 241,926$ 245,793$ 249,718$ 253,703$ 257,746$ 261,851$ 266,017$ 270,246$ 274,538$ 278,894$ 300,304$ 305,056$ 28,879$ 26,816$ 27,017$ 27,221$ 27,429$ 27,640$ 27,854$ 28,072$ 28,294$ 28,518$ 28,747$ 28,979$ 12,228$ 12,204$ Tax Increment Revenue Capture Estimates Auburn Apartments Redevelopment - NEZ New Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 1.5%: Brownfield Plan Year Calendar Year Base Land LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Base Building Building- Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Final Combined Parent Parcel - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Post Development Taxable Value School Capture *no capture Millage Rate NEZ New State Education Tax (SET)6.0000 2.8710 School Operating Tax 18.0000 8.6131 School Total 24.0000 11.4841 44.51% Local Capture Millage Rate Pontiac City Operating 12.0000 5.7421 Library 0.9679 0.4631 County Operating 3.9686 1.8990 County Parks & Rec 0.3431 0.1642 Transportation 0.9500 0.4546 HCMA 0.2070 0.0991 OIS Allocated 0.1881 0.0900 OIS Voted 2.9777 1.4248 OCC 1.4891 0.7125 Sinking Fund 0.7980 0.3818 Cap Improve 1.3639 0.6526 Sanitation 2.7281 1.3054 Senior Services 0.4839 0.2315 Youth Services 1.4519 0.6947 Local Total 29.9173 14.3156 55.49% Non-Capturable Millages Millage Rate School Debt 2.0000 0.9570 DIA 0.1945 0.0931 Zoo 0.0945 0.0452 Total Non-Capturable Taxes 2.2890 1.0953 Total Millages 56.2063 47.85% Total Brownfield Capturable Millages 53.9173 26.8950 28 29 30 2053 2054 2055 30,480$ 30,480$ 30,480$ 5,707,356$ 5,792,967$ 5,879,861$ 5,676,876$ 5,762,487$ 5,849,381$ 5,707,356$ 5,792,967$ 5,879,861$ 34,061$ 34,575$ 35,096$ 102,184$ 103,725$ 105,289$ 136,245$ 138,300$ 140,385$ 68,123$ 69,150$ 70,193$ 5,495$ 5,578$ 5,662$ 22,529$ 22,869$ 23,214$ 1,948$ 1,977$ 2,007$ 5,393$ 5,474$ 5,557$ 1,175$ 1,193$ 1,211$ 1,068$ 1,084$ 1,100$ 16,904$ 17,159$ 17,418$ 8,453$ 8,581$ 8,710$ 4,530$ 4,598$ 4,668$ 7,743$ 7,859$ 7,978$ 15,487$ 15,721$ 15,958$ 2,747$ 2,788$ 2,831$ 8,242$ 8,367$ 8,493$ 169,837$ 172,398$ 174,998$ 11,354$ 11,525$ 11,699$ 1,104$ 1,121$ 1,138$ 536$ 545$ 553$ 12,994$ 13,190$ 13,389$ 2,983$ 3,042$ 3,103$ Tax Increment Revenue Capture Estimates Auburn Apartments Redevelopment - NEZ New Pontiac,Oakland County, Michigan 2024 Total Brownfield Capturable Millages During NEZ Period and Following NEZ Tax Abatement SAVINGS NOT PAID 1,472,339$ Taxes Due - per year Total Brownfield Reimbursement between Auburn and Beacon Out of pocket TAXES 306,082$ 310,698$ 315,383$ 319,076$ 323,888$ 328,772$ 309,880$ 314,776$ 319,746$ 12,179$ 12,154$ 12,129$ Tax Increment Revenue Capture Estimates Beacon Townhomes Redevelopment - NEZ Rehab Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 2%: NO NEZ Brownfield Plan Year 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Calendar Year 2023-2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Parent Parcel LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ Estimated New TV 230,760 235,375 238,906 242,489 246,127 249,819 253,566 257,369 261,230 265,148 269,126 273,163 277,260 Incremental Difference (New TV - Base TV)183,460$ 47,300$ 51,915$ 55,446$ 59,029$ 62,667$ 66,359$ 70,106$ 73,909$ 77,770$ 81,688$ 85,666$ 89,703$ 93,800$ Post Development Taxable Value -$ 230,760$ 235,375$ 238,906$ 242,489$ 246,127$ 249,819$ 253,566$ 257,369$ 261,230$ 265,148$ 269,126$ 273,163$ 277,260$ School Capture *no capture Millage Rate State Education Tax (SET)6.0000 1,101$ 284$ 311$ 333$ 354$ 376$ 398$ 421$ 443$ 467$ 490$ 514$ 538$ 563$ School Operating Tax 18.0000 3,302$ 851$ 934$ 998$ 1,063$ 1,128$ 1,194$ 1,262$ 1,330$ 1,400$ 1,470$ 1,542$ 1,615$ 1,688$ School Total 24.0000 4,403$ 1,135$ 1,246$ 1,331$ 1,417$ 1,504$ 1,593$ 1,683$ 1,774$ 1,866$ 1,961$ 2,056$ 2,153$ 2,251$ Local Capture Millage Rate Pontiac City Operating 12.0000 568$ 623$ 665$ 708$ 752$ 796$ 841$ 887$ 933$ 980$ 1,028$ 1,076$ 1,126$ Library 0.9679 46$ 50$ 54$ 57$ 61$ 64$ 68$ 72$ 75$ 79$ 83$ 87$ 91$ County Operating 3.9686 188$ 206$ 220$ 234$ 249$ 263$ 278$ 293$ 309$ 324$ 340$ 356$ 372$ County Parks & Rec 0.3431 16$ 18$ 19$ 20$ 22$ 23$ 24$ 25$ 27$ 28$ 29$ 31$ 32$ Transportation 0.9500 45$ 49$ 53$ 56$ 60$ 63$ 67$ 70$ 74$ 78$ 81$ 85$ 89$ HCMA 0.2070 10$ 11$ 11$ 12$ 13$ 14$ 15$ 15$ 16$ 17$ 18$ 19$ 19$ OIS Allocated 0.1881 9$ 10$ 10$ 11$ 12$ 12$ 13$ 14$ 15$ 15$ 16$ 17$ 18$ OIS Voted 2.9777 141$ 155$ 165$ 176$ 187$ 198$ 209$ 220$ 232$ 243$ 255$ 267$ 279$ OCC 1.4891 70$ 77$ 83$ 88$ 93$ 99$ 104$ 110$ 116$ 122$ 128$ 134$ 140$ Sinking Fund 0.7980 38$ 41$ 44$ 47$ 50$ 53$ 56$ 59$ 62$ 65$ 68$ 72$ 75$ Cap Improve 1.3639 65$ 71$ 76$ 81$ 85$ 91$ 96$ 101$ 106$ 111$ 117$ 122$ 128$ Sanitation 2.7281 129$ 142$ 151$ 161$ 171$ 181$ 191$ 202$ 212$ 223$ 234$ 245$ 256$ Senior Services 0.4839 23$ 25$ 27$ 29$ 30$ 32$ 34$ 36$ 38$ 40$ 41$ 43$ 45$ Youth Services 1.4519 69$ 75$ 81$ 86$ 91$ 96$ 102$ 107$ 113$ 119$ 124$ 130$ 136$ Local Total 29.9173 1,415$ 1,553$ 1,659$ 1,766$ 1,875$ 1,985$ 2,097$ 2,211$ 2,327$ 2,444$ 2,563$ 2,684$ 2,806$ Non-Capturable Millages Millage Rate School Debt 2.0000 95$ 104$ 111$ 118$ 125$ 133$ 140$ 148$ 156$ 163$ 171$ 179$ 188$ DIA 0.1945 9$ 10$ 11$ 11$ 12$ 13$ 14$ 14$ 15$ 16$ 17$ 17$ 18$ Zoo 0.0945 4$ 5$ 5$ 6$ 6$ 6$ 7$ 7$ 7$ 8$ 8$ 8$ 9$ Total Non-Capturable Taxes 2.2890 108$ 119$ 127$ 135$ 143$ 152$ 160$ 169$ 178$ 187$ 196$ 205$ 215$ Total Millages 56.2063 Total Brownfield Capturable Millages 53.9173 $ 10,311.61 Total Brownfield Capturable Millages 2,550$ 2,799$ 2,989$ 3,183$ 3,379$ 3,578$ 3,780$ 3,985$ 4,193$ 4,404$ 4,619$ 4,837$ 5,057$ 2,659$ 2,659$ 2,918$ 3,116$ 3,318$ 3,522$ 3,730$ 3,940$ 4,154$ 4,371$ 4,591$ 4,815$ 5,042$ 5,272$ BASE YEAR 10,312$ 10,466$ 10,623$ 10,783$ 10,944$ 11,109$ 11,275$ 11,444$ 11,616$ 11,790$ 11,967$ 12,147$ 12,329$ 12,514$ Taxes Due PER YEAR - over 30 years 572,760$ 13,125$ 13,541$ 13,899$ 14,262$ 14,631$ 15,005$ 15,385$ 15,770$ 16,161$ 16,558$ 16,961$ 17,371$ 17,786$ Brownfield estimate on return.SEE FIRST TAB FOR TOTAL CAPTURE ROUGH ESTIMATE FOR OUT OF POCKET TAXES 10,575$ 10,742$ 10,910$ 11,079$ 11,252$ 11,427$ 11,605$ 11,785$ 11,968$ 12,154$ 12,343$ 12,534$ 12,728$ Tax Increment Revenue Capture Estimates Beacon Townhomes Redevelopment - NEZ Rehab Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 2%: Brownfield Plan Year Calendar Year Parent Parcel LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Post Development Taxable Value School Capture *no capture Millage Rate State Education Tax (SET)6.0000 School Operating Tax 18.0000 School Total 24.0000 Local Capture Millage Rate Pontiac City Operating 12.0000 Library 0.9679 County Operating 3.9686 County Parks & Rec 0.3431 Transportation 0.9500 HCMA 0.2070 OIS Allocated 0.1881 OIS Voted 2.9777 OCC 1.4891 Sinking Fund 0.7980 Cap Improve 1.3639 Sanitation 2.7281 Senior Services 0.4839 Youth Services 1.4519 Local Total 29.9173 Non-Capturable Millages Millage Rate School Debt 2.0000 DIA 0.1945 Zoo 0.0945 Total Non-Capturable Taxes 2.2890 Total Millages 56.2063 Total Brownfield Capturable Millages 53.9173 $ 10,311.61 Total Brownfield Capturable Millages BASE YEAR Taxes Due PER YEAR - over 30 years 572,760$ Brownfield estimate on return. ROUGH ESTIMATE FOR OUT OF POCKET TAXES 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 183,460$ 281,419 285,640 289,925 294,274 298,688 303,168 307,716 312,331 317,016 321,772 326,598 331,497 336,470 341,517 97,959$ 102,180$ 106,465$ 110,814$ 115,228$ 119,708$ 124,256$ 128,871$ 133,556$ 138,312$ 143,138$ 148,037$ 153,010$ 158,057$ 281,419$ 285,640$ 289,925$ 294,274$ 298,688$ 303,168$ 307,716$ 312,331$ 317,016$ 321,772$ 326,598$ 331,497$ 336,470$ 341,517$ 588$ 613$ 639$ 665$ 691$ 718$ 746$ 773$ 801$ 830$ 859$ 888$ 918$ 948$ 1,763$ 1,839$ 1,916$ 1,995$ 2,074$ 2,155$ 2,237$ 2,320$ 2,404$ 2,490$ 2,576$ 2,665$ 2,754$ 2,845$ 2,351$ 2,452$ 2,555$ 2,660$ 2,765$ 2,873$ 2,982$ 3,093$ 3,205$ 3,319$ 3,435$ 3,553$ 3,672$ 3,793$ 1,176$ 1,226$ 1,278$ 1,330$ 1,383$ 1,436$ 1,491$ 1,546$ 1,603$ 1,660$ 1,718$ 1,776$ 1,836$ 1,897$ 95$ 99$ 103$ 107$ 112$ 116$ 120$ 125$ 129$ 134$ 139$ 143$ 148$ 153$ 389$ 406$ 423$ 440$ 457$ 475$ 493$ 511$ 530$ 549$ 568$ 587$ 607$ 627$ 34$ 35$ 37$ 38$ 40$ 41$ 43$ 44$ 46$ 47$ 49$ 51$ 52$ 54$ 93$ 97$ 101$ 105$ 109$ 114$ 118$ 122$ 127$ 131$ 136$ 141$ 145$ 150$ 20$ 21$ 22$ 23$ 24$ 25$ 26$ 27$ 28$ 29$ 30$ 31$ 32$ 33$ 18$ 19$ 20$ 21$ 22$ 23$ 23$ 24$ 25$ 26$ 27$ 28$ 29$ 30$ 292$ 304$ 317$ 330$ 343$ 356$ 370$ 384$ 398$ 412$ 426$ 441$ 456$ 471$ 146$ 152$ 159$ 165$ 172$ 178$ 185$ 192$ 199$ 206$ 213$ 220$ 228$ 235$ 78$ 82$ 85$ 88$ 92$ 96$ 99$ 103$ 107$ 110$ 114$ 118$ 122$ 126$ 134$ 139$ 145$ 151$ 157$ 163$ 169$ 176$ 182$ 189$ 195$ 202$ 209$ 216$ 267$ 279$ 290$ 302$ 314$ 327$ 339$ 352$ 364$ 377$ 390$ 404$ 417$ 431$ 47$ 49$ 52$ 54$ 56$ 58$ 60$ 62$ 65$ 67$ 69$ 72$ 74$ 76$ 142$ 148$ 155$ 161$ 167$ 174$ 180$ 187$ 194$ 201$ 208$ 215$ 222$ 229$ 2,931$ 3,057$ 3,185$ 3,315$ 3,447$ 3,581$ 3,717$ 3,855$ 3,996$ 4,138$ 4,282$ 4,429$ 4,578$ 4,729$ 147$ 179$ 213$ 222$ 230$ 239$ 249$ 258$ 267$ 277$ 286$ 296$ 306$ 316$ 19$ 20$ 21$ 22$ 22$ 23$ 24$ 25$ 26$ 27$ 28$ 29$ 30$ 31$ 9$ 10$ 10$ 10$ 11$ 11$ 12$ 12$ 13$ 13$ 14$ 14$ 14$ 15$ 175$ 208$ 244$ 254$ 264$ 274$ 284$ 295$ 306$ 317$ 328$ 339$ 350$ 362$ 5,282$ 5,509$ 5,740$ 5,975$ 6,213$ 6,454$ 6,700$ 6,948$ 7,201$ 7,457$ 7,718$ 7,982$ 8,250$ 8,522$ 5,506$ 5,743$ 5,984$ 6,228$ 6,477$ 6,728$ 6,984$ 7,243$ 7,507$ 7,774$ 8,045$ 8,321$ 8,600$ 8,884$ 12,701$ 12,892$ 13,085$ 13,282$ 13,481$ 13,683$ 13,888$ 14,097$ 14,308$ 14,523$ 14,740$ 14,962$ 15,186$ 15,414$ 18,207$ 18,635$ 19,069$ 19,510$ 19,957$ 20,411$ 20,872$ 21,340$ 21,815$ 22,297$ 22,786$ 23,282$ 23,786$ 24,298$ 12,926$ 13,126$ 13,329$ 13,535$ 13,745$ 13,957$ 14,173$ 14,392$ 14,614$ 14,839$ 15,068$ 15,300$ 15,536$ 15,776$ Tax Increment Revenue Capture Estimates Beacon Townhomes Redevelopment - NEZ Rehab Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 2%: Brownfield Plan Year Calendar Year Parent Parcel LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Post Development Taxable Value School Capture *no capture Millage Rate State Education Tax (SET)6.0000 School Operating Tax 18.0000 School Total 24.0000 Local Capture Millage Rate Pontiac City Operating 12.0000 Library 0.9679 County Operating 3.9686 County Parks & Rec 0.3431 Transportation 0.9500 HCMA 0.2070 OIS Allocated 0.1881 OIS Voted 2.9777 OCC 1.4891 Sinking Fund 0.7980 Cap Improve 1.3639 Sanitation 2.7281 Senior Services 0.4839 Youth Services 1.4519 Local Total 29.9173 Non-Capturable Millages Millage Rate School Debt 2.0000 DIA 0.1945 Zoo 0.0945 Total Non-Capturable Taxes 2.2890 Total Millages 56.2063 Total Brownfield Capturable Millages 53.9173 $ 10,311.61 Total Brownfield Capturable Millages BASE YEAR Taxes Due PER YEAR - over 30 years 572,760$ Brownfield estimate on return. ROUGH ESTIMATE FOR OUT OF POCKET TAXES 28 29 30 TOTAL 2053 2054 2055 183,460$ 183,460$ 183,460$ 346,639 351,839 357,116 163,179$ 168,379$ 173,656$ 346,639$ 351,839$ 357,116$ 979$ 1,010$ 1,042$ 20,302$ 2,937$ 3,031$ 3,126$ 60,905$ 3,916$ 4,041$ 4,168$ 76,804$ 1,958$ 2,021$ 2,084$ 28,543$ 158$ 163$ 168$ 2,302$ 648$ 668$ 689$ 9,440$ 56$ 58$ 60$ 816$ 155$ 160$ 165$ 2,260$ 34$ 35$ 36$ 492$ 31$ 32$ 33$ 447$ 486$ 501$ 517$ 7,083$ 243$ 251$ 259$ 3,542$ 130$ 134$ 139$ 1,898$ 223$ 230$ 237$ 3,244$ 445$ 459$ 474$ 6,489$ 79$ 81$ 84$ 1,151$ 237$ 244$ 252$ 3,453$ 4,882$ 5,037$ 5,195$ 71,161$ 326$ 337$ 347$ 4,683$ 32$ 33$ 34$ 463$ 15$ 16$ 16$ 225$ 374$ 385$ 397$ 5,370$ 8,798$ 9,079$ 9,363$ 44,296$ 9,172$ 9,464$ 9,761$ 15,645$ 15,880$ 16,118$ 403,202$ 24,817$ 25,344$ 25,878$ 16,019$ 16,265$ 16,515$ Tax Increment Revenue Capture Estimates Auburn Apartments and Beacon Townhome Redevelopment Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 1.5%: NEZ Tax Abatement on Residential Portion (PA 147)0.625% Brownfield Plan Year 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Calendar Year 2023-2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Parent Parcel LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ Estimated New TV 4,048,900$ 4,110,787$ 4,172,449$ 4,235,036$ 4,298,561$ 4,363,040$ 4,428,485$ 4,494,913$ 4,562,336$ 4,630,771$ 4,700,233$ 4,770,736$ 4,842,298$ Incremental Difference (New TV - Base TV)213,940$ 3,834,960$ 3,896,847$ 3,958,509$ 4,021,096$ 4,084,621$ 4,149,100$ 4,214,545$ 4,280,973$ 4,348,396$ 4,416,831$ 4,486,293$ 4,556,796$ 4,628,358$ Post Development Taxable Value -$ 4,048,900$ 4,110,787$ 4,172,449$ 4,235,036$ 4,298,561$ 4,363,040$ 4,428,485$ 4,494,913$ 4,562,336$ 4,630,771$ 4,700,233$ 4,770,736$ 4,842,298$ School Capture *no capture Millage Rate State Education Tax (SET)6.0000 1,284$ 11,177$ 11,371$ 11,561$ 11,753$ 11,949$ 12,147$ 12,349$ 12,553$ 12,761$ 12,972$ 13,185$ 13,402$ 27,770$ School Operating Tax 18.0000 3,851$ 33,531$ 34,113$ 34,682$ 35,260$ 35,847$ 36,442$ 37,047$ 37,660$ 38,283$ 38,915$ 39,556$ 40,207$ 83,310$ School Total 24.0000 5,135$ 44,708$ 45,484$ 46,243$ 47,014$ 47,796$ 48,590$ 49,396$ 50,214$ 51,044$ 51,886$ 52,742$ 53,610$ 111,081$ Local Capture Millage Rate Pontiac City Operating 12.0000 2,567$ 22,354$ 22,742$ 23,121$ 23,507$ 23,898$ 24,295$ 24,698$ 25,107$ 25,522$ 25,943$ 26,371$ 26,805$ 35,194$ Library 0.9679 207$ 1,803$ 1,834$ 1,865$ 1,896$ 1,928$ 1,960$ 1,992$ 2,025$ 2,059$ 2,093$ 2,127$ 2,162$ 4,480$ County Operating 3.9686 849$ 7,393$ 7,521$ 7,647$ 7,774$ 7,903$ 8,035$ 8,168$ 8,303$ 8,441$ 8,580$ 8,721$ 8,865$ 11,639$ County Parks & Rec 0.3431 73$ 639$ 650$ 661$ 672$ 683$ 695$ 706$ 718$ 730$ 742$ 754$ 766$ 1,588$ Transportation 0.9500 203$ 1,770$ 1,800$ 1,830$ 1,861$ 1,892$ 1,923$ 1,955$ 1,988$ 2,020$ 2,054$ 2,088$ 2,122$ 4,397$ HCMA 0.2070 44$ 386$ 392$ 399$ 405$ 412$ 419$ 426$ 433$ 440$ 448$ 455$ 462$ 958$ OIS Allocated 0.1881 40$ 350$ 356$ 362$ 368$ 375$ 381$ 387$ 394$ 400$ 407$ 413$ 420$ 871$ OIS Voted 2.9777 637$ 5,547$ 5,643$ 5,737$ 5,833$ 5,930$ 6,029$ 6,129$ 6,230$ 6,333$ 6,438$ 6,544$ 6,651$ 13,782$ OCC 1.4891 319$ 2,774$ 2,822$ 2,869$ 2,917$ 2,966$ 3,015$ 3,065$ 3,116$ 3,167$ 3,219$ 3,272$ 3,326$ 6,892$ Sinking Fund 0.7980 171$ 1,487$ 1,512$ 1,538$ 1,563$ 1,589$ 1,616$ 1,642$ 1,670$ 1,697$ 1,725$ 1,754$ 1,783$ 3,693$ Cap Improve 1.3639 292$ 2,541$ 2,585$ 2,628$ 2,672$ 2,716$ 2,761$ 2,807$ 2,854$ 2,901$ 2,949$ 2,997$ 3,047$ 6,313$ Sanitation 2.7281 584$ 5,082$ 5,170$ 5,256$ 5,344$ 5,433$ 5,523$ 5,615$ 5,708$ 5,802$ 5,898$ 5,995$ 6,094$ 12,627$ Senior Services 0.4839 104$ 901$ 917$ 932$ 948$ 964$ 980$ 996$ 1,012$ 1,029$ 1,046$ 1,063$ 1,081$ 2,240$ Youth Services 1.4519 311$ 2,705$ 2,752$ 2,797$ 2,844$ 2,891$ 2,939$ 2,988$ 3,038$ 3,088$ 3,139$ 3,191$ 3,243$ 6,720$ Local Total 29.9173 6,401$ 55,731$ 56,698$ 57,644$ 58,605$ 59,580$ 60,570$ 61,574$ 62,594$ 63,629$ 64,679$ 65,745$ 66,828$ 111,392$ Non-Capturable Millages Millage Rate School Debt 2.0000 428$ 3,726$ 3,790$ 3,854$ 3,918$ 3,983$ 4,049$ 4,116$ 4,184$ 4,254$ 4,324$ 4,395$ 4,467$ 9,257$ DIA 0.1945 42$ 362$ 369$ 375$ 381$ 387$ 394$ 400$ 407$ 414$ 420$ 427$ 434$ 900$ Zoo 0.0945 20$ 176$ 179$ 182$ 185$ 188$ 191$ 194$ 198$ 201$ 204$ 208$ 211$ 437$ Total Non-Capturable Taxes 2.2890 490$ 4,264$ 4,338$ 4,410$ 4,484$ 4,559$ 4,634$ 4,711$ 4,789$ 4,868$ 4,949$ 5,030$ 5,113$ 10,594$ Total Millages 56.2063 Total Brownfield Capturable Millages 53.9173 12,025$ 12,265$ 12,511$ 12,761$ 13,016$ 13,276$ 13,542$ 13,813$ 14,089$ 14,371$ 14,658$ 14,951$ 15,250$ 15,555$ Tax Increment Revenue Capture Estimates Auburn Apartments and Beacon Townhome Redevelopment Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 1.5%: Brownfield Plan Year Calendar Year Parent Parcel LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Post Development Taxable Value School Capture *no capture Millage Rate State Education Tax (SET)6.0000 School Operating Tax 18.0000 School Total 24.0000 Local Capture Millage Rate Pontiac City Operating 12.0000 Library 0.9679 County Operating 3.9686 County Parks & Rec 0.3431 Transportation 0.9500 HCMA 0.2070 OIS Allocated 0.1881 OIS Voted 2.9777 OCC 1.4891 Sinking Fund 0.7980 Cap Improve 1.3639 Sanitation 2.7281 Senior Services 0.4839 Youth Services 1.4519 Local Total 29.9173 Non-Capturable Millages Millage Rate School Debt 2.0000 DIA 0.1945 Zoo 0.0945 Total Non-Capturable Taxes 2.2890 Total Millages 56.2063 Total Brownfield Capturable Millages 53.9173 0.750%0.875% 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 213,940$ 4,914,932$ 4,988,656$ 5,063,486$ 5,139,438$ 5,216,530$ 5,294,778$ 5,374,199$ 5,454,812$ 5,536,634$ 5,619,684$ 5,703,979$ 5,789,539$ 5,876,382$ 5,964,528$ 4,700,992$ 4,774,716$ 4,849,546$ 4,925,498$ 5,002,590$ 5,080,838$ 5,160,259$ 5,240,872$ 5,322,694$ 5,405,744$ 5,490,039$ 5,575,599$ 5,662,442$ 5,750,588$ 4,914,932$ 4,988,656$ 5,063,486$ 5,139,438$ 5,216,530$ 5,294,778$ 5,374,199$ 5,454,812$ 5,536,634$ 5,619,684$ 5,703,979$ 5,789,539$ 5,876,382$ 5,964,528$ 28,206$ 28,648$ 29,097$ 29,553$ 30,016$ 30,485$ 30,962$ 31,445$ 31,936$ 32,434$ 32,940$ 33,454$ 33,975$ 34,504$ 84,618$ 85,945$ 87,292$ 88,659$ 90,047$ 91,455$ 92,885$ 94,336$ 95,809$ 97,303$ 98,821$ 100,361$ 101,924$ 103,511$ 112,824$ 114,593$ 116,389$ 118,212$ 120,062$ 121,940$ 123,846$ 125,781$ 127,745$ 129,738$ 131,761$ 133,814$ 135,899$ 138,014$ 42,645$ 50,309$ 58,195$ 59,106$ 60,031$ 60,970$ 61,923$ 62,890$ 63,872$ 64,869$ 65,880$ 66,907$ 67,949$ 69,007$ 4,550$ 4,621$ 4,694$ 4,767$ 4,842$ 4,918$ 4,995$ 5,073$ 5,152$ 5,232$ 5,314$ 5,397$ 5,481$ 5,566$ 14,103$ 16,639$ 19,246$ 19,547$ 19,853$ 20,164$ 20,479$ 20,799$ 21,124$ 21,453$ 21,788$ 22,127$ 22,472$ 22,822$ 1,613$ 1,638$ 1,664$ 1,690$ 1,716$ 1,743$ 1,770$ 1,798$ 1,826$ 1,855$ 1,884$ 1,913$ 1,943$ 1,973$ 4,466$ 4,536$ 4,607$ 4,679$ 4,752$ 4,827$ 4,902$ 4,979$ 5,057$ 5,135$ 5,216$ 5,297$ 5,379$ 5,463$ 973$ 988$ 1,004$ 1,020$ 1,036$ 1,052$ 1,068$ 1,085$ 1,102$ 1,119$ 1,136$ 1,154$ 1,172$ 1,190$ 884$ 898$ 912$ 926$ 941$ 956$ 971$ 986$ 1,001$ 1,017$ 1,033$ 1,049$ 1,065$ 1,082$ 13,998$ 14,218$ 14,440$ 14,667$ 14,896$ 15,129$ 15,366$ 15,606$ 15,849$ 16,097$ 16,348$ 16,602$ 16,861$ 17,124$ 7,000$ 7,110$ 7,221$ 7,335$ 7,449$ 7,566$ 7,684$ 7,804$ 7,926$ 8,050$ 8,175$ 8,303$ 8,432$ 8,563$ 3,751$ 3,810$ 3,870$ 3,931$ 3,992$ 4,055$ 4,118$ 4,182$ 4,248$ 4,314$ 4,381$ 4,449$ 4,519$ 4,589$ 6,412$ 6,512$ 6,614$ 6,718$ 6,823$ 6,930$ 7,038$ 7,148$ 7,260$ 7,373$ 7,488$ 7,605$ 7,723$ 7,843$ 12,825$ 13,026$ 13,230$ 13,437$ 13,648$ 13,861$ 14,078$ 14,298$ 14,521$ 14,747$ 14,977$ 15,211$ 15,448$ 15,688$ 2,275$ 2,310$ 2,347$ 2,383$ 2,421$ 2,459$ 2,497$ 2,536$ 2,576$ 2,616$ 2,657$ 2,698$ 2,740$ 2,783$ 6,825$ 6,932$ 7,041$ 7,151$ 7,263$ 7,377$ 7,492$ 7,609$ 7,728$ 7,849$ 7,971$ 8,095$ 8,221$ 8,349$ 122,320$ 133,549$ 145,085$ 147,358$ 149,664$ 152,005$ 154,381$ 156,793$ 159,241$ 161,725$ 164,247$ 166,807$ 169,405$ 172,042$ 9,353$ 9,524$ 9,699$ 9,851$ 10,005$ 10,162$ 10,321$ 10,482$ 10,645$ 10,811$ 10,980$ 11,151$ 11,325$ 11,501$ 914$ 929$ 943$ 958$ 973$ 988$ 1,004$ 1,019$ 1,035$ 1,051$ 1,068$ 1,084$ 1,101$ 1,118$ 444$ 451$ 458$ 465$ 473$ 480$ 488$ 495$ 503$ 511$ 519$ 527$ 535$ 543$ 10,712$ 10,904$ 11,101$ 11,274$ 11,451$ 11,630$ 11,812$ 11,996$ 12,184$ 12,374$ 12,567$ 12,763$ 12,961$ 13,163$ 15,866$ 16,184$ 16,507$ 16,838$ 17,174$ 17,518$ 17,868$ 18,226$ 18,590$ 18,962$ 19,341$ 19,728$ 20,122$ 20,525$ Tax Increment Revenue Capture Estimates Auburn Apartments and Beacon Townhome Redevelopment Pontiac,Oakland County, Michigan 2024 Estimated Taxable Value (TV) Increase Rate 1.5%: Brownfield Plan Year Calendar Year Parent Parcel LAND - Ad Valorem Base Year set in 2022 *Base Taxable Value Estimated New TV Incremental Difference (New TV - Base TV) Post Development Taxable Value School Capture *no capture Millage Rate State Education Tax (SET)6.0000 School Operating Tax 18.0000 School Total 24.0000 Local Capture Millage Rate Pontiac City Operating 12.0000 Library 0.9679 County Operating 3.9686 County Parks & Rec 0.3431 Transportation 0.9500 HCMA 0.2070 OIS Allocated 0.1881 OIS Voted 2.9777 OCC 1.4891 Sinking Fund 0.7980 Cap Improve 1.3639 Sanitation 2.7281 Senior Services 0.4839 Youth Services 1.4519 Local Total 29.9173 Non-Capturable Millages Millage Rate School Debt 2.0000 DIA 0.1945 Zoo 0.0945 Total Non-Capturable Taxes 2.2890 Total Millages 56.2063 Total Brownfield Capturable Millages 53.9173 28 29 30 TOTAL 2053 2054 2055 213,940$ 213,940$ 213,940$ 6,053,996$ 6,144,806$ 6,236,978$ 5,840,056$ 5,930,866$ 6,023,038$ 6,053,996$ 6,144,806$ 6,236,978$ 35,040$ 35,585$ 36,138$ 720,653$ 105,121$ 106,756$ 108,415$ 2,161,959$ 140,161$ 142,341$ 144,553$ 2,877,478$ 70,081$ 71,170$ 72,276$ 1,103,275$ 5,653$ 5,740$ 5,830$ 92,304$ 23,177$ 23,537$ 23,903$ 364,872$ 2,004$ 2,035$ 2,067$ 32,720$ 5,548$ 5,634$ 5,722$ 90,596$ 1,209$ 1,228$ 1,247$ 19,740$ 1,099$ 1,116$ 1,133$ 17,938$ 17,390$ 17,660$ 17,935$ 283,968$ 8,696$ 8,832$ 8,969$ 142,008$ 4,660$ 4,733$ 4,806$ 76,101$ 7,965$ 8,089$ 8,215$ 130,068$ 15,932$ 16,180$ 16,431$ 260,165$ 2,826$ 2,870$ 2,915$ 46,147$ 8,479$ 8,611$ 8,745$ 138,460$ 174,719$ 177,435$ 180,193$ 2,798,361$ 11,680$ 11,862$ 12,046$ 190,655$ 1,136$ 1,154$ 1,171$ 18,548$ 552$ 560$ 569$ 9,012$ 13,368$ 13,576$ 13,787$ 218,215$ 20,935$ 21,354$ 21,781$ 509,603$ Tax Increment Revenue Reimbursement Allocation Table Auburn Apartments and Beacon Townshomes Redevelopment Pontiac, Oakland County, MI 2024 Developer Maximum Reimbursement Total Proportionality School & Local Taxes Local-Only Taxes Total Developer Total Estimated Tax Reimbursement 5,943,554$ TOTAL 100%5,943,554$ -$ 5,943,554$ BRA Admin Fee Tax Reimbursement 150,000$ State 44.51%2,665,260$ -$ 2,665,260$ State Brownfield Redevelopment Fund Reimbursement $ 272,064 Local 55.49%3,322,391$ -$ 3,322,391$ Local Brownfield Revolving Loan Fund $ - TOTAL 100%5,943,554$ 5,943,554$ TOTAL 6,365,617$ MSHDA 77.38%4,599,047$ 4,599,047$ EGLE 22.62%1,344,507$ -$ 1,344,507$ 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2023-2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Total State Incremental Revenue -$ 44,708$ 45,484$ 46,243$ 47,014$ 47,796$ 48,590$ 49,396$ 50,214$ 51,044$ 51,886$ 52,742$ 53,610$ 111,081$ 112,824$ 114,593$ State Brownfield Redevelopment Fund (50% of SET)-$ 5,589$ 5,685$ 5,780$ 5,877$ 5,974$ 6,074$ 6,174$ 6,277$ 6,380$ 6,486$ 6,593$ 6,701$ 13,885$ 14,103$ 14,324$ State TIR Available for Reimbursement -$ 39,120$ 39,798$ 40,462$ 41,137$ 41,821$ 42,516$ 43,221$ 43,937$ 44,663$ 45,401$ 46,149$ 46,909$ 97,196$ 98,721$ 100,269$ Total Local Increment Revenue -$ 55,731$ 56,698$ 57,644$ 58,605$ 59,580$ 60,570$ 61,574$ 62,594$ 63,629$ 64,679$ 65,745$ 66,828$ 111,392$ 122,320$ 133,549$ BRA Administrative Fee ($5,000/YR)-$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ Local TIR Available for Reimbursement -$ 50,731$ 51,698$ 52,644$ 53,605$ 54,580$ 55,570$ 56,574$ 57,594$ 58,629$ 59,679$ 60,745$ 61,828$ 106,392$ 117,320$ 128,549$ Total State & Local TIR Available -$ 89,851$ 91,496$ 93,107$ 94,742$ 96,401$ 98,086$ 99,795$ 101,531$ 103,292$ 105,080$ 106,894$ 108,736$ 203,588$ 216,041$ 228,818$ DEVELOPER Reimbursement Balance 5,943,554$ -$ 5,853,703$ 5,762,207$ 5,669,100$ 5,574,358$ 5,477,957$ 5,379,872$ 5,280,076$ 5,178,546$ 5,075,254$ 4,970,174$ 4,863,279$ 4,754,543$ 4,550,955$ 4,334,914$ 4,106,097$ EGLE -Preapproved-Environmental Costs 1,344,507$ 20,325$ 20,698$ 21,062$ 21,432$ 21,807$ 22,188$ 22,575$ 22,968$ 23,366$ 23,770$ 24,181$ 24,598$ 46,054$ 48,871$ 51,761$ State Tax Reimbursement 9,047$ 9,213$ 9,375$ 9,540$ 9,707$ 9,877$ 10,049$ 10,223$ 10,401$ 10,581$ 10,764$ 10,949$ 20,500$ 21,754$ 23,040$ Local Tax Reimbursement 11,278$ 11,485$ 11,687$ 11,892$ 12,100$ 12,312$ 12,526$ 12,744$ 12,965$ 13,190$ 13,417$ 13,649$ 25,554$ 27,117$ 28,721$ Total EGLE Reimbursement Balance 1,324,182$ 1,303,484$ 1,282,422$ 1,260,990$ 1,239,183$ 1,216,995$ 1,194,420$ 1,171,452$ 1,148,087$ 1,124,316$ 1,100,135$ 1,075,538$ 1,029,484$ 980,612$ 928,851$ MSHDA Non-Environmental Costs 4,599,047$ 69,526$ 70,798$ 72,045$ 73,310$ 74,594$ 75,897$ 77,220$ 78,563$ 79,926$ 81,309$ 82,714$ 84,139$ 157,534$ 167,170$ 177,056$ State Tax Reimbursement 30,948$ 31,514$ 32,069$ 32,632$ 33,204$ 33,784$ 34,373$ 34,971$ 35,577$ 36,193$ 36,818$ 37,452$ 70,122$ 74,412$ 78,812$ Local Tax Reimbursement 38,578$ 39,284$ 39,976$ 40,678$ 41,390$ 42,114$ 42,848$ 43,593$ 44,349$ 45,116$ 45,896$ 46,686$ 87,411$ 92,758$ 98,244$ Total MSF Reimbursement Balance 4,529,521$ 4,458,723$ 4,386,678$ 4,313,368$ 4,238,774$ 4,162,877$ 4,085,656$ 4,007,093$ 3,927,167$ 3,845,858$ 3,763,144$ 3,679,005$ 3,521,472$ 3,354,302$ 3,177,246$ Total Annual Developer Reimbursement 5,943,554$ 89,851$ 91,496$ 93,107$ 94,742$ 96,401$ 98,086$ 99,795$ 101,531$ 103,292$ 105,080$ 106,894$ 108,736$ 203,588$ 216,041$ 228,818$ LOCAL BROWNFIELD REVOLVING FUND 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 EGLE & Local TIR only. DEVELOPER Beginning Balance Estimated Total Years of Plan: 30 Years Tax Increment Revenue Reimbursement Allocation Table Auburn Apartments and Beacon Townshomes Redevelopment Pontiac, Oakland County, MI 2024 Total State Incremental Revenue State Brownfield Redevelopment Fund (50% State TIR Available for Reimbursement Total Local Increment Revenue BRA Administrative Fee ($5,000/YR) Local TIR Available for Reimbursement Total State & Local TIR Available DEVELOPER Reimbursement Balance EGLE -Preapproved-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total EGLE Reimbursement Balance MSHDA Non-Environmental Costs State Tax Reimbursement Local Tax Reimbursement Total MSF Reimbursement Balance Total Annual Developer Reimbursement LOCAL BROWNFIELD REVOLVING FU LBRF Deposits * State Tax Capture Local Tax Capture Total LBRF Capture * Up to five years of capture for LBRF Depo DEVELOPER 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 TOTAL 116,389$ 118,212$ 120,062$ 121,940$ 123,846$ 125,781$ 127,745$ 129,738$ 131,761$ 133,814$ 135,899$ 138,014$ 140,161$ 142,341$ 144,553$ 2,877,478$ 14,549$ 14,776$ 15,008$ 15,243$ 15,481$ 15,723$ 15,968$ 16,217$ 16,470$ 16,727$ 272,064$ 101,840$ 103,435$ 105,054$ 106,698$ 108,365$ 110,058$ 111,777$ 113,521$ 115,291$ 117,088$ 135,899$ 138,014$ 140,161$ 142,341$ 144,553$ 2,605,414$ 145,085$ 147,358$ 149,664$ 152,005$ 154,381$ 156,793$ 159,241$ 161,725$ 164,247$ 166,807$ 169,405$ 172,042$ 174,719$ 177,435$ 180,193$ 3,532,238$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 5,000$ 150,000$ 140,085$ 142,358$ 144,664$ 147,005$ 149,381$ 151,793$ 154,241$ 156,725$ 159,247$ 161,807$ 164,405$ 167,042$ 169,719$ 172,435$ 175,193$ 3,382,238$ 241,926$ 245,793$ 249,718$ 253,703$ 257,746$ 261,851$ 266,017$ 270,246$ 274,538$ 278,894$ 300,304$ 305,056$ 309,880$ 314,776$ 319,746$ 5,987,652$ 3,864,171$ 3,618,378$ 3,368,659$ 3,114,957$ 2,857,210$ 2,595,359$ 2,329,342$ 2,059,096$ 1,784,558$ 1,505,664$ 1,205,360$ 900,304$ 590,424$ 275,648$ 5,987,652$ 54,727$ 55,601$ 56,489$ 57,391$ 58,306$ 59,234$ 60,176$ 61,133$ 62,104$ 63,089$ 67,932$ 69,008$ 70,099$ 71,206$ 62,355$ 1,344,507$ 24,360$ 24,750$ 25,145$ 25,546$ 25,953$ 26,367$ 26,786$ 27,212$ 27,644$ 28,083$ 30,239$ 30,717$ 31,203$ 31,696$ 27,756$ 598,475$ 30,366$ 30,852$ 31,345$ 31,845$ 32,352$ 32,867$ 33,390$ 33,921$ 34,460$ 35,007$ 37,694$ 38,290$ 38,896$ 39,511$ 34,599$ 746,032$ 874,124$ 818,523$ 762,033$ 704,643$ 646,337$ 587,103$ 526,927$ 465,794$ 403,690$ 340,600$ 272,668$ 203,660$ 133,561$ 62,355$ 187,199$ 190,192$ 193,229$ 196,312$ 199,441$ 202,617$ 205,841$ 209,113$ 212,434$ 215,805$ 232,371$ 236,049$ 239,781$ 243,570$ 257,391$ 4,643,145$ 83,327$ 84,659$ 86,011$ 87,384$ 88,776$ 90,190$ 91,625$ 93,082$ 94,560$ 96,060$ 103,434$ 105,071$ 106,733$ 108,419$ 114,571$ 2,066,785$ 103,872$ 105,532$ 107,218$ 108,928$ 110,665$ 112,427$ 114,216$ 116,031$ 117,874$ 119,745$ 128,937$ 130,977$ 133,048$ 135,151$ 142,819$ 2,576,360$ 2,990,046$ 2,799,855$ 2,606,626$ 2,410,314$ 2,210,873$ 2,008,256$ 1,802,415$ 1,593,303$ 1,380,869$ 1,165,064$ 932,692$ 696,644$ 456,863$ 213,293$ 241,926$ 245,793$ 249,718$ 253,703$ 257,746$ 261,851$ 266,017$ 270,246$ 274,538$ 278,894$ 300,304$ 305,056$ 309,880$ 314,776$ 319,746$ 5,987,652$