CITY OF DETROIT BROWNFIELD REDEVELOPMENT AUTHORITY

Transcription

1 EXHIBIT A CITY OF DETROIT BROWNFIELD REDEVELOPMENT AUTHORITY TRANSFORMATIONAL BROWNFIELD PLAN FOR THE HUDSON S BLOCK, MONROE BLOCKS, ONE CAMPUS MARTIUS EXPANSION, AND BOOK BUILDING AND BOOK TOWER REDEVELOPMENT PROJECTS Prepared by: Bedrock Management Services LLC 630 Woodward Avenue Detroit, Michigan Contact Person: Jared Fleisher Phone: (313) October 12, 2017

2 CITY OF DETROIT BROWNFIELD REDEVELOPMENT AUTHORITY TRANSFORMATIONAL BROWNFIELD PLAN FOR THE HUDSON S BLOCK, MONROE BLOCKS, ONE CAMPUS MARTIUS EXPANSION, AND BOOK BUILDING AND BOOK TOWER REDEVELOPMENT PROJECTS TABLE OF CONTENTS 1.0 INTRODUCTION 1.1 Eligible Property Information Description of the Eligible Property Basis for Eligibility 1.2 Proposed Redevelopment and Future Use for Each Eligible Property 1.3 Project Justification 2.0 INFORMATION REQUIRED BY SECTION 13c OF ACT Basis for Designating the Plan as a Transformational Brownfield Plan Under Section 2(vv) Basis for Designation as Related Program of Investment 2.2 Description of the Costs of the Plan Intended to be Paid for with Construction Period Tax Capture Revenues, Tax Increment Revenues, Income Tax Capture Revenues, and Withholding Tax Capture Revenues 2.3 Estimate of the Amount of Construction Period Sales Tax Exemption, Construction Period Tax Capture Revenues, Tax Increment Revenues, Income Tax Capture Revenues, and Withholding Tax Capture Revenues Expected to be Generated Annually 2.4 Beginning Date and Duration of Construction Period Tax Capture Revenues, Tax Increment Revenues, Income Tax Capture Revenues, and Withholding Tax Capture Revenues 3.0 INFORMATION REQUIRED BY SECTION 14a(1)-(3) OF ACT Whether the Plan Meets the Requirements of Section 2(vv) 3.2 Whether the Plan Meets the Requirements of Sections 13, 13b, and 13c 3.3 Whether the Cost of Eligible Activities are Reasonable and Necessary to Carry out the Purposes of Act Whether the Amount of Captured Taxable Value, Construction Period Tax Capture Revenues, Withholding Tax Capture Revenues, and Income Tax Capture Revenues Estimated Are Reasonable 3.5 Whether, Based on an Economic and Fiscal Impact Analysis, the Plan will Result in an Overall Positive Fiscal Impact to this State 3.6 Whether, Subject to Subsection (23)(d), the Plan Includes Provisions for Affordable Housing i

3 4.0 INFORMATION REQUIRED BY SECTION 14a(3)(f) OF ACT The Importance of the Plan to the Community in which it is Located 4.2 Whether the Plan will act as a Catalyst for Additional Revitalization of the Community in which it is Located 4.3 The Amount of Local Community and Financial Support for the Plan 4.4 The Financial Need for the Plan 4.5 The Extent of Reuse of Vacant Buildings, Reuse of Historic Resources, and the Redevelopment of Blighted Property 4.6 Creation of Jobs 4.7 The Level of Private Sector and other Contributions, including, but not limited to, Federal Funds and Federal Tax Credits 4.8 Whether the Plan is Financially and Economically Sound 4.9 Whether the Plan Increases the Density of the Area 4.10 Whether the Plan Promotes Mixed-Use Development and Walkable Communities 4.11 Whether the Plan Converts Abandoned Public Buildings to Private Use 4.12 Whether the Plan Promotes Sustainable Development 4.13 Whether the Plan Involves the Rehabilitation of a Historic Resource 4.14 Whether the Plan Addresses Area-Wide Redevelopment 4.15 Whether the Plan Addresses Underserved Markets of Commerce 4.16 The Level and Extent of Environmental Contamination 4.17 Whether the Rehabilitation of the Historic Resource will meet the Federal Secretary of the Interior's Standards for Rehabilitation and Guidelines for Rehabilitating Historic Buildings (36 CFR 67) 4.18 Whether the Plan will Compete with or affect existing Michigan Businesses within the Same Industry 5.0 INFORMATION REQUIRED BY SECTION 13(2) OF ACT Description of Costs to Be Paid for With Tax Increment Revenues 5.2 Summary of Eligible Activities 5.3 Estimate of Captured Taxable Value and Tax Increment Revenues 5.4 Method of Financing and Description of Advances Made by the Municipality 5.5 Maximum Amount of Note or Bonded Indebtedness 5.6 Duration of Brownfield Plan ii

4 5.7 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdictions 5.8 Legal Description, Property Map, Statement of Qualifying Characteristics and Personal Property 5.9 Estimates of Residents and Displacement of Individuals/Families 5.10 Plan for Relocation of Displaced Persons 5.11 Provision for Relocation Costs 5.12 Strategy for Compliance with Michigan s Relocation Assistance Law 5.13 Other Material that the Authority or Governing Body Considers Pertinent Local Brownfield Revolving Fund State Brownfield Redevelopment Fund Developer s Obligations, Representation, and Warranties Estoppel Certificate 6.0 DEVELOPMENT TEAM EXPERIENCE INTERNAL TABLES Table 1 Table 2 Table 3 Table 4 ATTACHMENTS Summary of Parcel Information Estimate of Tax Capture Revenues Estimate of Tax Increment Revenues Estimated Impact for Taxing Jurisdictions Attachment A1 A2 Site Maps Attachment B1 B3 Legal Descriptions and Basis for Eligibility Attachment C1 C4 Transformational Project Descriptions Attachment D Signed Affidavits for Functional Obsolescence; Documentation of Historic Resource Attachment E1 E5 Estimated Cost of Eligible Activities Attachment F1 F5 TIF Tables Attachment G Attachment H Attachment I BS&E Acknowledgement and Other Environmental Documents Letters of Support Affordable Housing Agreement iii

5 1.0 INTRODUCTION In order to promote the revitalization of environmentally distressed and blighted areas within the boundaries of the City of Detroit, Michigan (the City ), the City has established the City of Detroit Brownfield Redevelopment Authority (the DBRA ) pursuant to Michigan Public Act 381 of 1996, as amended ( Act 381 ). The primary purpose of this Transformational Brownfield Plan ( Plan ) is to promote the redevelopment of, and private investment in, certain brownfield properties within the City that will have a transformational impact on local economic development and community revitalization based on the extent of brownfield redevelopment and growth in population, commercial activity, and employment that will result from the plan. Inclusion of property within this Plan will facilitate the financing of eligible activities at the eligible properties in order to make the proposed redevelopments economically viable. By enabling the redevelopment of these brownfield properties, this Plan is intended to promote economic growth for the benefit of the residents of the City, all taxing units under the DBRA, and the State of Michigan. This Plan applies to the eligible property identified in this Plan and identifies and authorizes the eligible activities to be funded through tax increment revenues, construction period tax capture revenues, income tax capture revenues, and withholding tax capture revenues (collectively Tax Capture Revenues ) attributable to the eligible properties subject to this Plan, as provided for under Act 381. This Plan also serves as the basis for the applicable exemptions under Michigan Public Act 48 of 2017 (exemption from sales tax on construction materials used in transformational brownfield plans) and Michigan Public Act 49 of 2017 (exemption from use tax on construction materials used in transformational brownfield plans) in accordance with such laws and Act 381. This Plan is intended to be a living document, which may be modified or amended in accordance with the requirements of Act 381, as necessary to achieve the purposes of Act 381. The applicable sections of Act 381 are noted throughout this Plan for reference purposes. This Plan describes the projects to be completed and contains information required by Sections 13, 13b, 13c, and 14a of Act 381. A description of the eligible properties included in this Plan and the transformational projects proposed for each property are provided in the following subsections of this Part I. 1.1 Eligible Property Information (Section 13 (2)(h) Description of the Eligible Property The following properties, and all tangible personal property located thereon, will comprise the eligible property for this Plan and are referred to herein individually as a Transformational Project Site and collectively as the Transformational Project Sites. 1

6 The property commonly referred to as the Hudson s Site, which consists of two tax parcels located at 1208 Woodward Avenue, Unit 1 and Unit 2; The property commonly referred to as the Monroe Blocks, which consists of seven tax parcels in the area bounded by Monroe Street, Randolph Street, Bates Street, Cadillac Square, and Woodward Avenue as well as adjacent land which is anticipated to contain underground parking as further explained below; The property which will be known as Unit 2 of the condominium to be formed on the property commonly referred to as One Campus Martius, with said project referred to herein as the One Campus Martius Expansion. One Campus Martius currently consists of one tax parcel located at 1000 Woodward Avenue. One Campus Martius will be converted into a condominium in conjunction with the planned expansion of the building, and the One Campus Martius Expansion will be Unit 2 of the One Campus Martius Condominium. The future Unit 2 is the eligible property for this Plan. The property commonly referred to as the Book Building and Book Tower, which consists of two tax parcels located at 1249 and 1265 Washington Boulevard, and the adjacent and contiguous parcel at 1201 Washington Boulevard. For purposes of this Plan, the use of the term Developer shall refer to Bedrock Management Services LLC ( Bedrock ), and each affiliate of Bedrock that is or will be the developer of a Transformational Project Site included in this Plan, and their successors and assigns. Further information about the Transformational Project Sites follows below. Attachment A provides site maps demonstrating the location of the Transformational Project Sites within Detroit s Central Business District ( CBD ). Parcel information for each Transformational Project Site is summarized in Table 1 below and legal descriptions for each parcel are provided in Attachment B-1. Hudson s Site The Hudson s Site includes acres of land (including below grade easements). The Hudson s Site is the site of the former Hudson s department store, which opened in 1911, closed in 1983, and was demolished in The Hudson s Site is bounded between Woodward Avenue, Gratiot Avenue, Grand River, and Farmer Street in downtown Detroit. The Hudson s Site currently consists of a vacant ground-level site above a four-story underground parking garage. The Hudson s Site was previously converted into a condominium, Unit 1 of which consists of the subterranean parking garage currently owned by the City; and Unit 2 of which consists of air rights currently owned by the City of Detroit Downtown Development Authority ( DDA ). The Hudson s Site condominium will be dissolved and the tax parcels will be consolidated after acquisition of the Hudson s 2

7 Site by an affiliate of Bedrock. It is anticipated that the process of dissolving the condominium will be completed after the Detroit City Council (hereinafter referred to as the governing body ) considers this Plan but before the anticipated time of action by the Michigan Strategic Fund ( MSF ). Rosko Development Company LLC ( Rosko ), an affiliate of Bedrock, or its affiliate will be the project developer. Rosko has entered into a development agreement with the DDA whereby Rosko or its affiliate will become the owner of the Hudson s Site upon closing under the development agreement. The City has entered into a Land Transfer Agreement ( LTA ) whereby the City will convey Unit 1 (the garage) to the DDA contemporaneously with the closing, which the DDA will then convey to Rosko or its affiliate together with Unit 2 (the air rights) for redevelopment pursuant to the terms of the development agreement. Monroe Blocks The Monroe Blocks includes 3.66 acres of land across seven (7) tax parcels in the area bounded by Monroe Street, Randolph Street, Bates Street, Cadillac Square, and Woodward Avenue in downtown Detroit. In addition to the foregoing, the eligible property comprising the Monroe Blocks includes (a) all internal rights of way which are located within the Monroe Blocks, including Farmer Street, all of which are proposed to be vacated and transferred to the ownership of the owner of the Monroe Blocks; and (b) approximately acres of land beneath the adjoining public plaza known as Cadillac Square ( Cadillac Square Parcel ), which bounds the redevelopment area to the south, and which is anticipated to be developed into underground parking for the project on the Monroe Blocks. The Monroe Blocks, which fronts Campus Martius Park, currently consists primarily of a surface parking lot surrounded by unoccupied structures and other vacant parcels from which previous structures have been demolished. The DDA owns the parcels comprising the surface parking lot at 32 Monroe Avenue and 725 Bates Street as well as the vacant parcel at 126 Monroe Avenue (the former Bates Garage). The City owns the structure at 118 Monroe Ave. (the former National Theater) and the adjacent vacant lot at 100 Monroe Ave Farmer Street LLC, an affiliate of Bedrock, owns the unoccupied commercial property at 1000 Farmer Street and 815 Bates Street. Rosko, an affiliate of Bedrock Management Services LLC, or its affiliate will be the project developer. Rosko is entering into a development agreement with the DDA whereby Rosko or its affiliate will become the owner of the Monroe Blocks upon closing under the development agreement. It is anticipated that the City will enter into an LTA whereby the City will convey the properties under its ownership within the Monroe Blocks to the DDA contemporaneously 3

8 with the closing, which the DDA will then convey to Rosko or its affiliate together with the properties under the DDA s ownership for redevelopment pursuant to the terms of the development agreement. Rosko or its affiliate anticipates acquiring the Cadillac Square Parcel from the City through an easement, deed, or other appropriate instrument. The legally described boundaries of the Cadillac Square Parcel are included in Attachment B-2. This Plan includes the Cadillac Square Parcel as so described and depicted on Attachment B-2 pending finalization of legal description and tax identification number for the Cadillac Square Parcel. The proposed combined legal description for the entire Monroe Blocks, including the internal rights of way and the Cadillac Square Parcel, is also provided in Attachment B- 2. Upon finalization of the legal descriptions of the Monroe Blocks, DBRA staff will append the final legal descriptions and tax identification numbers to this Plan and provide notice to the taxing jurisdictions located under the DBRA and to the MSF. One Campus Martius Expansion One Campus Martius ( OCM ), the former headquarters of Compuware Corporation, opened in 2003 and is currently the headquarters of Quicken Loans Inc. and Meridian Health Plan. The building consists of fourteen (14) stories and a penthouse on land fronting Woodward Avenue and Monroe Avenue and three (3) stories in the rear area bounded by Gratiot Avenue and Farmer Street. In addition to the foregoing, OCM includes a parking structure bounded by Farmer Street, Monroe Street, Randolph Street, and Gratiot Avenue and two levels of sub-grade parking. OCM was constructed to allow for an 11-story expansion in this rear area as depicted in Attachment C-4. The expansion was intended as Phase II of the Compuware project but was never developed. OCM is currently a single tax parcel but will be converted into a condominium in conjunction with the expansion. The currently undeveloped portion of OCM will be established as Unit 2 of the One Campus Martius Condominium, which will be the eligible property subject to this Plan. Attachment B-1 contains the proposed legal description of the future Unit 2 of the One Campus Martius Condominium and Attachment B-3 depicts the proposed condominium unit (Unit 2 of the One Campus Martius Condominium). Upon finalization of the legal description and tax identification number, DBRA staff will append the final legal description and tax identification number to this Plan and provide notice to the taxing jurisdictions located under the DBRA and to the MSF. It is anticipated that the process of forming and recording the new condominium and master deed, and securing a tax identification number for Unit 2, will be completed in mid-2018 after the anticipated time of action by the MSF. 4

9 Book Building and Book Tower The historic Book Building and Book Tower consists of a 13-story building (Book Building) completed in 1917 and a 38 story tower (Book Tower) completed in 1926, each of which is a separate tax parcel. Innovative Acquisitions LLC, an affiliate of Bedrock, owns both parcels. The redevelopment plan for the Book Building and Book Tower includes the adjoining tax parcel located at 1201 Washington Boulevard, which is adjacent and contiguous to the Book Building and Book Tower and is owned by Innovative Property Partners LLC, an affiliate of Bedrock. Table 1. Summary of Parcel Information Hudson s Site Address Tax ID Current Owner 1208 Woodward Avenue City of Detroit 1208 Woodward Avenue City of Detroit DDA Monroe Blocks Address Tax ID Current Owner 32 Monroe City of Detroit DDA 725 Bates City of Detroit DDA 100 Monroe City of Detroit 118 Monroe City of Detroit 126 Monroe City of Detroit DDA 815 Bates Farmer Street LLC, an affiliate of Bedrock 1000 Farmer Farmer Street LLC, an affiliate of Bedrock Cadillac Square Parcel No current tax City of Detroit identification number 1 Interior rights of way No current tax identification number 1 City of Detroit 1 In recognition of the potential grant of an easement, deed, or other interest in the land beneath Cadillac Square, and the intended vacation of the interior rights of way, this Plan includes the property as described in Attachment B-1 pending finalization of the transaction, legal descriptions, and tax identification numbers. One Campus Martius Expansion Address Tax ID Current Owner 1000 Woodward Avenue (current); property to be converted to condominium with separate unit and tax 1000 Webward LLC, an affiliate of Bedrock 5

10 identification number for the expansion. 2 2 In recognition of the intended conversion of the property at 1000 Woodward Avenue into a condominium, with a separate unit and tax identification for the future Unit 2, this Plan includes the property as described in Attachment B-1 and depicted in Attachment B-3 pending the finalization of the transaction, legal description, and tax identification number. Book Building and Book Tower Address Tax ID Owner 1249 Washington Boulevard Innovative Acquisitions LLC, an affiliate of Bedrock 1265 Washington Boulevard Innovative Acquisitions LLC, an affiliate of Bedrock 1201 Washington Boulevard Innovative Property Partners LLC, an affiliate of Bedrock Qualification as Eligible Property The Transformational Project Sites are considered eligible property as defined in Section 2 of Act 381. Each of the parcels included in this Plan (a) was previously utilized, or is currently utilized, for a commercial purpose; (b) is located within the City, which is a qualified local government unit under Act 381; and (c) has been determined to be either functionally obsolete, a facility, or a historic resource as each term is defined under Act 381; or to be adjacent and contiguous to such a parcel; or to qualify on the basis of Section 2(p)(vi) of Act 381 as undeveloped property that was eligible property in a previously approved Brownfield Plan abolished under Section 14(8) of Act 381. The individual eligibility of each of the parcels included in this Plan is summarized in the following subsections and in the chart included in Attachment B-1. Because each Transformational Project Site is the subject of an existing but inactive brownfield plan that needs to be abolished or terminated under Section 14(8) of Act 381, this section also addresses the abolition or termination of the previous plans. Hudson s Site The Hudson s Site was included as eligible property in the Brownfield Plan for the Hudson s, Kern, Crowley, Library Block Redevelopment adopted in 2000 for the development of what was then known as the Compuware Building ( Compuware Plan ). The Hudson s Site was included in the Compuware Plan to provide parking capacity for the Compuware Building. The Compuware Building opened in The Compuware Plan served as the basis for 6

11 a Single Business Tax - Brownfield Redevelopment Credit ( Brownfield Credit ) for the development of the Compuware Building. The eligible investment was completed for the Brownfield Credit under the Compuware Plan, and the Brownfield Credit has been claimed in full. All eligible activities identified in the Plan were also completed. Since the capture of tax increment revenues under the Compuware Plan was limited to the capture of school taxes due to the location of the Compuware Building within the boundaries of the DDA, it was determined after adoption of the Compuware Plan that the capture of tax increment revenues would not be pursued under the Compuware Plan. Therefore, no capture of tax increment revenues has occurred or is intended to occur under the Compuware Plan. As defined in Section 2v of Act 381, the governing body for purposes of Act 381 is the City Council of the City of Detroit. Under Section 14(8)(a) of Act 381, The governing body may abolish a brownfield plan when it finds that the purposes for which the plan was established are accomplished. As the Compuware Building was constructed, the eligible activities were completed, and the Brownfield Credit has been claimed in full, the Compuware Plan has achieved its purposes. Accordingly, the governing body will have abolished the Compuware Plan prior to the adoption of this Plan. Section 2(p)(vi) of Act 381 provides that undeveloped property that was eligible property in a previously approved brownfield plan abolished under section 14(8) qualifies as eligible property for inclusion in a new brownfield plan. Upon the abolition of the Compuware Plan by the governing body, the air rights unit (Unit 2) of the Hudson s Site will be undeveloped property that was eligible property in a previously approved brownfield plan abolished under section 14(8). Accordingly, the air rights unit (Unit 2) of the Hudson s Site will qualify as eligible property for inclusion under this Plan. The garage unit of the Hudson s Site (Unit 1) independently qualifies as eligible property. It is functionally obsolete, as defined by Section 2(t) of Act 381 and evidenced by the letter included from the City of Detroit Assessor as Attachment D. The structure is unable to be used to adequately perform the function for which it was intended due to deficiencies in design. The current structure was designed to support a maximum 15 to 18-story building, whereas the development plan for the Hudson s Site calls for a minimum 50-story that will rise over 800 feet. The design of the garage unit (Unit 1) also did not provide for underground loading, which would result in traffic disruption and congestion at the ground level once the contemplated improvements are constructed on the air rights unit (Unit 2). As a result, the substructure is functionally obsolete and must be reconstructed in full to adequately perform the intended function. The project contemplated for the Hudson s Site will span the underground and air rights as it requires the installation of a new foundation and support structures capable of supporting the intended development and the complete reconstruction of the existing garage. Developer intends to dissolve the current condominium and consolidate the site into a single tax parcel upon acquisition of the Hudson s Site. For the foregoing reasons, the entire Hudson s Site is the eligible property under this Plan. 7

12 Monroe Blocks The Monroe Blocks consist of multiple eligible properties. The properties located at 32 Monroe (Tax Parcel ) and 725 Bates (Tax Parcel ) have been determined to be facilities as defined by Section 2(q) of Act 381 and Part 201 of the Natural Resources and Environmental Protection Act, as amended, 1994 PA 451, MCL to The following constituents were measured in soil at concentrations that exceed Part 201 generic cleanup criteria for arsenic, chromium, copper, lead, mercury, silver, zinc, benzo(a)pyrene, fluoranthene, and phenanthrene. The Phase II analysis conducted by PM Environmental is included in the BEA report as Attachment G. The property located at 118 Monroe (Tax Parcel ) (commonly referred to as the National Theater ) is functionally obsolete as defined by Section 2(t) of Act 381 and evidenced by the letter included from the City of Detroit Assessor as Attachment D. The properties located at 1000 Farmer (Tax Parcel ) and 815 Bates (Tax Parcel ) qualify as functionally obsolete as defined by Section 2(t) of Act 381 and evidenced by the letter included from the City of Detroit Assessor in Attachment D. The properties located at 100 Monroe (Tax Parcel ) and 126 Monroe (Tax Parcel ( ) qualify as eligible property as they are adjacent and contiguous to the previously identified eligible property. The properties at the addresses commonly known as 32 Monroe Avenue and 725 Bates Street were included in the Brownfield Plan for the Monroe Blocks Redevelopment adopted in September 2013 ( Initial Monroe Blocks Plan ). In accordance with Section 14(8) of Act 381, the Initial Monroe Blocks Plan will be terminated as the project for which eligible activities were identified in the brownfield plan fail[ed] to occur for at least 2 years following the date of the resolution approving the brownfield plan or plan amendment. The termination of the Initial Monroe Blocks Plan will have occurred before approval of this Plan in accordance with the requirements of Section 14(8)(i) and (ii) of Act 381. One Campus Martius Expansion As explained above, the Compuware Plan will have been abolished pursuant to Section 14(8) of Act 381 prior to adoption of this Plan. The proposed Unit Two of the One Campus Martius Condominium is adjacent and contiguous to the Hudson s Site and is estimated to increase the captured taxable value of that property. Accordingly, the proposed Unit Two of the One Campus Martius Condominium is eligible property for inclusion in this Plan. 8

13 Book Building and Book Tower The Book Building and Book Tower is a historic resource as defined under Section 2(w) of Act 381 as it is contributing to a historic district designated by the national register of historic places, the state register of historic sites, or a local unit acting under the local historic districts act, 1970 PA 169, MCL to Specifically, it is a contributing resource to the Washington Boulevard Historic District, which was listed on the National Register on July 15, Documentation from the US Department of Interior, National Park Service, is included as Attachment D establishing that the Book Building and Book Tower are contributing resources in the above referenced historic district. The Book Building and Book Tower (1249 and 1265 Washington Boulevard) were included in the Brownfield Plan for the Book Building/Book Tower Redevelopment Project adopted in September 2006 ( Initial Book Plan ). In accordance with Section 14(8) of Act 381, the Initial Book Plan will be terminated as the project for which eligible activities were identified in the brownfield plan fail[ed] to occur for at least 2 years following the date of the resolution approving the brownfield plan or plan amendment. The termination of the Initial Book Plan will have occurred before approval of this Plan in accordance with the requirements of Section 14(8)(i) and (ii) of Act Proposed Redevelopment and Future Use for Each Eligible Property The following provides a brief description of the proposed redevelopment of each Transformational Project Site into a mixed-use development. Expanded descriptions of the proposed redevelopment for each Transformational Project Site are contained in Attachment C, including massing and programming diagrams that depict the anticipated location and square footages allocated residential, retail, office, hotel, exhibit, public space, and other uses within each Transformational Project Site. The project descriptions that follow are a summary of the developments proposed for the Transformational Project Sites at the time of the adoption of this Plan. The development of the Transformational Project Sites may vary from the project descriptions provided herein as a result of changes in market and/or financing conditions affecting the project, or other relevant considerations. Prior to the commencement of construction, however, any change to the planned development of a Transformational Project Site that would reduce the gross square footage of residential, retail, office, or exhibit use, respectively, from the amount specified in Attachment C of this Plan for such use within such site shall be subject to the approval requirements set forth below. Any change to the planned development of a Transformational Project Site that, either individually or when combined with prior changes, would reduce the gross square footage of residential, retail, office, or exhibit use, respectively, from the amount specified in Attachment C of this Plan for such use within such site by more 9

14 than 15 percent (15%) of the total gross square footage of the entire development planned for the Transformational Project Site, as specified in Attachment C of this Plan, shall require an amendment to this Plan in accordance with Section 13c of Act 381. Any change to the planned development of a Transformational Project Site that, either individually or when combined with prior changes, would reduce the gross square footage of residential, retail, office, or exhibit use, respectively, from the amount specified in Attachment C of this Plan for such use within such site by more than five percent (5%) but less than fifteen percent (15%) of the total gross square footage of the entire development planned for the Transformational Project Site, as specified in Attachment C of this Plan, shall require approval of the MSF President, Fund Manager, or other authorized agent of the MSF as delegated pursuant to the MSF resolution approving this Plan. MSF approval of such a change shall be made only if MEDC brownfield staff determine that the project as changed will still result in an overall positive fiscal impact to this State and continues to align with the MEDC s investment criteria. Any change to the planned development of a Transformational Project Site that, either individually or when combined with prior changes, would reduce the gross square footage of residential, retail, office, or exhibit use, respectively, from the amount specified in Attachment C of this Plan for such use within such site by less than five percent (5%) of the total gross square footage of the entire development planned for the Transformational Project Site, as specified in Attachment C of this Plan, shall be considered de minimis and shall not require approval. In the event an amendment to this Plan is required and pursued in order to make such a change with respect to a Transformational Project Site, this Plan shall continue in full force and effect with respect to each other Transformational Project Site included in this Plan that is not the subject of the proposed amendment. Under any circumstance, the total amount of Tax Capture Revenues that may be captured and transmitted under this Plan may not exceed the total amount authorized to be used under this Plan, as enumerated in the last line of the Attachment E-1, absent an amendment to this Plan. Further, the overall amount of Income Tax Capture Revenues and Withholding Tax Capture Revenues that may be transmitted under this Plan may not exceed the total amount authorized to be used under this Plan, as enumerated in Attachment F-1, absent an amendment to this Plan. Hudson s Site The Hudson s Site will be a landmark destination and visitor attraction. The project will create a world-class mixed-use development with extensive public and civic space, including but not limited to a public marketplace, a public skydeck, and flexible space for exhibitions and events. The Hudson s Site is anticipated to include the tallest tower in the City that will rise an estimated 800 feet next to a mid-rise podium, which will be separated 10

15 by landscaped public space. The anticipated budget for the construction of this project is $909 million. The currently anticipated site plan, schematic design and programming for the Hudson s Site are included in Attachment C-1. More specifically, the planned structure on the Hudson s Site will be approximately 1 million gross square feet ( GSF ), excluding parking, and is anticipated to consist of approximately 102,805 GSF of retail and food and beverage space on the first and second stories of the tower and podium, including a street level market; 167,968 GSF of event and conference space in the middle stories of the podium; and 262,662 GSF of office space on the top four floors of the podium. The Hudson s Site development is also planned to include approximately 93,464 GSF of programmed exhibit space above the first floor retail and lobby space in the tower; approximately 330 residential units occupying 439,217 GSF on the upper stories of the tower; and a public skydeck atop the tower. The planned redevelopment of the Hudson s Site also includes modernized below-grade parking with at least 700 spaces. This project is anticipated to directly create or support approximately 1,633 new permanent, full-time equivalent jobs in the City, and the spillover effects from visitors and tourists are expected to create another 900 jobs. Construction is anticipated to commence before the end of Monroe Blocks The planned redevelopment of the Monroe Blocks will create a new mixed-use development in two phases totaling an anticipated 1.4 million GSF, excluding parking and outdoor public plaza space. The total anticipated budget for the construction of this project is $830 million. The currently anticipated site plan, schematic design and programming for the Monroe Blocks are included in Attachment C-2. Farmer Street is the diving line between Phase I and Phase II of the redevelopment. Phase I of this project, which will occur on the portion of the Transformational Project Site south of Farmer Street, is anticipated to be anchored by a 35-story, 814,000 GSF office tower fronting Campus Martius, which would be the first high-rise office development constructed in the City since Ally Detroit Center (formerly One Detroit Center) was built in The office component is intended to position Detroit to be nationally competitive for business and talent attraction. Phase I of this project is also anticipated to include 117,200 GSF of retail space on the first and second stories and an estimated 136 residential units. The residential units are planned for the Bates Street side of the development (behind Cadillac Tower) and are anticipated to rise seven to ten stories above the two floors of retail space. Phase II of this project, which will occur on the portion of the Transformational Project Site north of Farmer Street, is anticipated to consist of 346 residential units. Phase II is anchored by a planned 27-story residential tower at the intersection of Monroe Street and Randolph Street, along with an estimated 51,700 GSF of retail space on the first and second stories. 11

16 As depicted in Attachment C-2, the planned redevelopment of the Monroe Blocks is anticipated to include extensive public plaza space, which will form the centerpiece of each phase. It is anticipated that Farmer Street and other interior rights of way will be vacated and transformed into pedestrian corridors. While parking plans are being finalized, the redevelopment is anticipated to include three levels of below-grade parking across the entire site and below Cadillac Square, yielding an estimated 1,200 parking spaces, to support the development as well as visitor parking. It is anticipated that all below-grade parking would be constructed as part of Phase I of the redevelopment. This project is anticipated to directly create or support approximately 3,741 new permanent, full-time equivalent jobs in the City. Construction on Phase I is anticipated to commence in Spring 2018 and include the below-grade parking and other sub-surface work that will cover the entire Monroe Blocks. Construction on Phase II is anticipated to commence in Summer One Campus Martius Expansion The planned expansion of OCM is expected to result in the construction of approximately 310,000 GSF of additional office space over 13 stories, including auditorium space. The total anticipated budget for the construction of the project is $94.8 million. The currently anticipated site plan, schematic design and programming for the expansion of OCM are included in Attachment C-3. Current vacancy in downtown Detroit s major Class A buildings is at a historic low of 7.5%. This expansion will allow for the growth of existing tenants and provide large, continuous floorplates not currently available in the Detroit CBD but critically needed to attract large-scale tenants and jobs to Detroit and maintain the City s growth and economic momentum. By delivering an estimated 310,000 GSF of infill office space in the epicenter of Detroit s CBD, this project will also contribute significantly to the redevelopment of downtown Detroit into a dense, walkable urban center and increasing source of employment and tax revenue for the City. It will build the employment density that is critical to catalyzing and supporting retail and residential development in the surrounding area, and most importantly, will continue and accelerate the growth of the City s income tax and employment base, and thus its overall recovery and revitalization. The OCM Expansion is anticipated to directly create or support approximately 1,155 new permanent, full-time equivalent office jobs in the City as well as 69 new permanent, fulltime equivalent jobs in the auditorium and event uses for a total of 1,224 new, permanent full-time equivalent jobs. Construction of the OCM Expansion is expected to commence in early Winter (Q1) Book Building and Book Tower The 38-story Book Tower and adjoining 13-story Book Building will undergo a 12

17 comprehensive renovation of the interior and exterior. The rehabilitation and transformation will include: replacement of all mechanical and electrical systems, plumbing, elevators, life safety systems, and windows; lead and asbestos abatement and hazardous materials removal; and complete restoration of the historic façade and interior build-out. The total anticipated budget for the construction of this project is $311 million. The currently anticipated site plan, schematic design and programming for the Book Building, Book Tower and surrounding area are included in Attachment C-4. The Book Building and Book Tower redevelopment project is anticipated to create 28,890 GSF of first floor retail space; 49,780 GSF of conference and event space on floors 2-3; 106,000 GSF of office space on floors 4-8; an estimated 200 hotel rooms also occupying 106,000 GSF on floors 9-13; and 95 residential units on floors The top two floors of the Book Tower will be used for mechanical systems. In order to provide the parking necessary for the redevelopment to be viable, a new 400-space parking structure is planned to be constructed to the south of the Book Building on the adjoining parcel at 1201 Washington Boulevard. The development of the parking structure at 1201 Washington Boulevard is anticipated to require the demolition of the existing two-story structure on site, known as the Book Arcade, which was originally built as a temporary structure. The construction of a parking structure on this site is necessary for the feasibility of the overall Book Building and Book Tower redevelopment, as it is not practicable to develop hotel, conference, event, office, residential, and retail uses of this scale absent adjoining parking; and as no other reasonably proximate parking structures have appropriate capacity. The 1,100 space Book Tower Garage previously supported the Book Building, Book Tower and surrounding area, but was demolished prior to the acquisition of the Book Building and Book Tower by Innovative Acquisitions LLC. In addition to being necessary for the rehabilitation of the Book Building and Book Tower, the parking structure is needed to support the continued revitalization and restoration of the Capitol Park Historic District and other nearby developments. The Historic District Commission has given conditional approval, subject to design review, for the demolition of the existing two-story structure in order to allow for the construction of the parking structure. This project is anticipated to directly create or support approximately 663 new permanent, full-time equivalent jobs in the City. Early stabilization work on the Book Building and Book Tower has commenced to address safety issues, prevent further deterioration, and prepare the Book Building and Book Tower for renovation. The full renovation of the Book Building and Book Tower is anticipated to commence in Winter (Q1) Project Justification As described further in Part 3 of this Plan, the transformational brownfield redevelopment incentives available under Section 13c of Act 381, as amended, are required for the proposed projects in this Plan to be economically viable. 13

18 The financial need for transformational brownfield redevelopment incentives results from the difference or gap between development costs and what market rents can support. Accordingly, the validation of construction cost estimates and market rents is central to justifying financial need. To that end, all construction cost estimates for the development of the Transformational Project Sites included in this Plan were prepared by leading, independent construction firms that operate on a national basis and are active in the Detroit market. In addition, expert third-party advisory firms were employed to validate office and residential market conditions, and that information was provided to the MEDC brownfield staff as part of their financial and underwriting analyses. In addition to the costs and challenges generally associated with brownfield conditions and historic rehabilitation, the transformational brownfield redevelopment incentives included in this Plan are necessary as market rents in the City are insufficient to support the cost of complex, large-scale, high-rise construction. As reflected in publicly available data, construction costs in the Detroit market are generally comparable to major cities across the United States, and have increased substantially in recent years as demand for construction labor and materials has increased at a faster rate than supply. 1 Further, as reflected in the third-party cost estimates for the developments included in this Plan, the cost of complex, large-scale, high-rise construction substantially exceeds these baseline costs. Current rent for Class A office space in the City, however, averages only $24 per sq. ft. per year as compared to the average of $39.83 for downtown office markets across the United States. Of the top 50 downtown markets in the country, the average asking rent in Detroit remains lower than in all but two markets. 2 This illustrates the gap between construction costs and market rents in the City which makes this Plan necessary to allow the proposed projects to be economically viable and achieve the transformational benefits described in Part 2 below with respect to job creation, population growth, commercial activity, and the City and State s overall ability to compete for talent, investment, and growth. In addition to this market value gap, the dedication of extensive space to public and civic uses, while critical to local economic development and overall community benefit, furthers the financial challenge and, in turn, the need for the transformational brownfield redevelopment incentives to make the projects possible and achieve the benefits of this Plan. 1 Per the leading City Construction Cost Index provided by RS Means, the cost index for Detroit is as compared to a national average index score. 2 All data in this paragraph comes from Jones Lange LaSalle s Office Outlook for Q2 2017, which is available to the public at 14

19 As evidenced by the approval of this Plan, the governing body will have concluded that: This Plan is required for the proposed projects to be economically viable. Developer s financial models for each project employ rent assumptions that reflect very substantial increases from current market rents. Even with the projected increase in rents and the transformational brownfield redevelopment incentives included in this Plan, the return to the Developer from the proposed projects included in this Plan is substantially below the level that is considered a traditional market return. In addition, under Section 14a(5) of Act 381, the MSF is separately required, with and through an independent third-party firm, to conduct a financial analysis to determine that the Tax Capture Revenues in this Plan are required for the projects in this Plan to be economically viable. Accordingly, the financial need for the transformational brownfield redevelopment incentives included in this Plan has been, and will continue to be, extensively justified. 2.0 INFORMATION REQUIRED BY SECTION 13C OF ACT Basis for Designating the Plan as a Transformational Brownfield Plan under Section 2(vv) Under Section 2(vv) of Act 381, a plan for mixed-use development on eligible property may be designated as a transformational brownfield plan if it meets the minimum investment requirements of Section 2(vv) and is expected to have a transformational impact on local economic development and community revitalization based on the extent of brownfield redevelopment and growth in population, commercial activity, and employment that will result from the plan. For a project in Detroit, a city with a population of more than 600,000, the minimum investment requirement to be designated as a transformational brownfield plan is $500,000,000. Where a plan consists of multiple projects that are part of a related program of investment, this evaluation is to be conducted at the plan level, considering the combined impact of the projects. In conjunction with the development of this Plan, Developer requested that Plante Moran Cresa and WSP Parsons Brinckerhoff, both leading economic consulting firms, prepare an analysis of the job creation, economic, and fiscal impacts of this Plan. These analyses, referred to herein as the Plante Report and Parsons Economic Impact Report, are being made available to the DBRA, MEDC, and governing body and include all assumptions relied upon to reach the reported conclusions. 15

20 As reflected in these analyses, the development of the projects described in this Plan is expected to result in the following transformational impacts. With respect to the minimum investment threshold, $2.1 billion in capital investment, significantly exceeding the $500 million statutory threshold. With respect to the extent of brownfield redevelopment: o Redeveloping the largest vacant sites in Detroit s CBD (the Hudson s Site and Monroe Blocks), covering three city blocks in total, each of which has been primarily vacant for over 20 years. o Reintroducing high-rise development to Detroit for the first time in 25 years, bringing a product to the market intended to make Detroit a nationally competitive urban center with respect to the attraction of business, jobs, and talent. o Redeveloping the largest unrehabilitated historic structure in downtown Detroit (the Book Building and Book Tower), which has been primarily vacant for approximately 20 years. o Delivering, in total, more than 3.2 million GSF of new residential, retail, and commercial space into the Detroit market. With respect to population growth in the City, constructing approximately 900 new residential units to grow the City s population and tax base will result in an estimated 2,122 new Detroit residents. 3 With respect to employment growth in the City: o Creating or supporting 15,800 construction jobs, consisting of 6,000 direct jobs; 5,000 indirect jobs; and 4,800 induced jobs. o Directly creating or supporting 7,261 new permanent, full-time equivalent jobs in the City to expand economic opportunity and grow the City s tax base. 4 o Supporting an additional 7,000 indirect and induced jobs from the ongoing permanent economic activity above. 3 The Parsons Economic Impact Report estimated that 90% of the new residential units would result in net new residential occupancy within the City. 4 The Parsons Economic Impact Report estimated that 85% of the office workers within the Transformational Project Sites would represent net new jobs in the City and that 90% of the employees within the retail, restaurant, event, and exhibit space represent net new jobs in the City. 16

21 With respect to growth in commercial activity in the City: o Generating $3 billion in total economic output from construction (including direct, indirect, and induced impacts). o Supporting $2.5 billion in annual economic output once the projects are completed, consisting of $1.3 billion in new direct annual output in the City; and $1.2 billion in additional indirect and induced annual output throughout Wayne County. Based on the foregoing, with the approval of this Plan, the governing body has determined that this Plan will have a transformational impact on local economic development and community revitalization based on the extent of brownfield redevelopment and growth in population, commercial activity, and employment that will result from the plan and meets the requirements for designation as a Transformational Brownfield Plan under Section 2(vv) of Act Designation as a Related Program of Investment (Section 13c(12)) Designation as a related program of investment under Section 13c(12) of Act 381 allows multiple projects to be consolidated into one Transformational Brownfield Plan and to be considered comprehensively as one plan for the purposes of the evaluation criteria in Section 14a of Act 381. The development of the four Transformational Project Sites in this Plan constitutes a related program of investment under Section 13c(12) of Act 381 for the following reasons: The projects will be undertaken concurrently or in reasonable succession, with the program of investment expected to commence in and be complete by The projects are under affiliated ownership, with each being developed by an affiliate of Bedrock. The developments are reasonably contiguous and are part of Developer s program of investment in Detroit s CBD, a logically defined geography as provided for in Act 381. Designation of the eligible properties as a related program of investment is consistent with the purposes of the Act to enable a program of transformational brownfield redevelopment in a logically defined area and is not a combination of unrelated or minimally related projects calculated to meet the minimum investment threshold. 17

22 2.2 Description of the Costs of the Plan Intended to Be Paid for with Construction Period Tax Capture Revenues, Tax Increment Revenues, Income Tax Capture Revenues, and Withholding Tax Capture Revenues (Section 13(2)(a) and Section 13c(3)(b)) Under Section 2(o)(iv) of Act 381, eligible activities under a transformational brownfield plan include any demolition, construction, restoration, alteration, renovation, or improvement of buildings or site improvements on eligible property, including infrastructure improvements that directly benefit eligible property. A summary of the eligible activities and the estimated cost of each eligible activity intended to be paid for with tax capture revenues from the Transformational Project Sites are shown in the table attached hereto as Attachment E. The eligible activities described in Attachment E are not exhaustive. Subject to the approval of DBRA and MSF staff in writing, additional eligible activities within the meaning of Section 2(o) of Act 381 may be carried out at the Transformational Project Sites, and the cost of eligible activities for a particular project within this Plan may exceed the total estimated for that project, both without requiring an amendment to this Plan, so long as such eligible activities are permitted by Act 381, and the performance of such eligible activities does not exceed the total costs for this Plan as stated in Attachment E-1. Eligible activities conducted prior to approval of this Plan are eligible for reimbursement if such expenses are incurred within 90 days of the approval this Plan by the MSF. The Developer of each Transformational Project Site (each of which is an affiliate of Bedrock) desires to be reimbursed for the costs of eligible activities set forth in Attachment E from tax capture revenues generated by the Transformational Project Sites that will be captured by the DBRA, or as applicable, transmitted by the MSF and/or State Treasurer pursuant to Act 381 and the associated public acts (2017 PA 47, MCL and 2017 PA 50, MCL ). The eligible activities in Attachment E represent a portion of the total cost of eligible activities and correspond to the amount of tax capture revenues projected to be generated from the Transformational Project Sites, in addition to a 15% contingency on such eligible activities as per the DBRA s Amended and Restated Guidelines for Brownfield Plan Proposals ( DBRA Guidelines ). Reimbursement will be pursuant to the terms of a Reimbursement Agreement to be entered into among the DBRA, MSF, and Developer after approval of this Plan (the Reimbursement Agreement ), to the extent permitted by Act 381. All reimbursements authorized under this Plan shall be governed by the Reimbursement Agreement. Total reimbursements under the Reimbursement Agreement shall not exceed the total estimated costs for this Plan set forth in Attachment E-1. The eligible activities identified in Attachment E are intended to be reimbursed from Tax Capture Revenues generally, and there is no specific assignment of particular forms of Tax Capture Revenue (i.e., construction period tax capture revenues, tax increment revenues, withholding tax capture revenues, and income tax capture revenues) to particular eligible 18

23 activities. Except as otherwise provided in this Plan, any form of available Tax Capture Revenues may be applied to any eligible activity identified in Attachment E. In addition, the Developer of each Transformational Project Site desires to exercise the exemption from sales and use taxes available for the redevelopment of eligible property included in a transformational brownfield plan as provided for in 2017 PA 48, MCL d and 2017 PA 49, MCL Although Developer is requesting reimbursement for only a portion of the cost of eligible activities for the reasons described herein, all eligible activities on each Transformational Project Site will be eligible for the applicable exemptions under 2017 PA 48 (sales tax on construction materials used in transformational brownfield plans) and 2017 PA 49 (use tax on construction materials used in transformational brownfield plans) in accordance with such laws and Act 381. As this Plan contemplates the capture of tax increment revenues for expanded eligible activities allowable under a transformational brownfield plan, as well as the use of additional tax capture revenues allowable for transformational brownfield plans, Developer acknowledges that Sections 2(vv) and 14(a) of Act 381 require the MSF to approve (a) the designation of this Plan as a transformational brownfield plan; (b) the use and transmittal construction of period tax capture revenues, income tax capture revenues, and withholding tax capture revenues; and (c) the use of tax increment revenues for the expanded eligible activities under Section 2(o)(iv) of Act 381. Developer further acknowledges and agrees that, because the implementation of this Plan will not be economically viable absent the proposed Tax Capture Revenues that are contingent upon MSF approval of this Plan, the DBRA has no obligation to reimburse Developer for the cost of any eligible activities included in this Plan from Local Taxes, Specific Taxes, or Taxes Levied for School Operating Purposes (as those terms are defined in Act 381) unless the Developer has received approval of this Plan from the MSF and completed a work plan or combined brownfield plan covering such activities. The costs identified for reimbursement in Attachment E1-5 are estimated costs and may increase or decrease depending on various market and site conditions and actual tax capture revenues. The actual cost of those eligible activities encompassed by this Plan that will qualify for reimbursement from tax capture revenues generated from the Transformational Project Sites 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 total estimated costs for this Plan set forth in Attachment E-1. As long as the total costs for this Plan are not exceeded, line item costs of eligible activities may be adjusted after the date this Plan is approved by the governing body without an amendment to this Plan. This may include a decrease in the cost of eligible activities for one project and an increase in the cost of eligible activities for another project within this 19

24 Plan, to the extent the adjustments do not violate the terms of the MDEQ or MSF work plan to be developed and approved subsequent to the approval of this Plan. Pursuant to Sections 13(4) and 13c(12), and to the extent provided for in the Reimbursement Agreement, tax capture revenues generated from one Transformational Project Site within this Plan may be used to fund eligible activities on another Transformational Project Site, to the extent the adjustments do not violate the terms of the approved MSF work plan. 2.3 Estimate of the Amount of Construction Period Sales Tax Exemption, Construction Period Tax Capture Revenues, Tax Increment Revenues, Income Tax Capture Revenues, and Withholding Tax Capture Revenues Expected to be Generated Annually (Section 13 (2)(c) 13c(3)(c)) This Plan anticipates the capture and transmittal, as applicable, of Tax Capture Revenues to reimburse the Developer of each Transformational Project Site for the costs of eligible activities under this Plan in accordance with the Reimbursement Agreement. Tables estimating the amount of Tax Capture Revenues expected to be generated annually, and in total, are attached to this Plan as Attachment F. These tables include tax increment revenues, construction period tax capture revenues, withholding tax capture revenues, and income tax capture revenues, including (as applicable) the capture income taxes levied by the City under the City Income Tax Act, 1964 PA 284, MCL to that would otherwise be exempted within a Renaissance Zone as provided for in Section 13c(13) of Act 381. Tax capture revenues are estimated for the Plan overall and for each Transformational Project Site within the Plan. Specifically, Attachment F-1 contains the estimate of Tax Capture Revenues per year and in total for this entire Plan, which is then followed by Attachment F-2 (showing the same specifically for the Hudson s Site); Attachment F-3 (for the Monroe Blocks); Attachment F-4 (for the OCM Expansion); and Attachment F-5 (for the Book Building and Book Tower). Tax Capture Revenues are projected to be applied to (a) reimbursement of the costs of eligible activities as provided for in Attachment E; (b) except as provided in the DBA Guidelines, payment of DBRA administrative and operating expenses, (c) make deposits into the State Brownfield Redevelopment Fund, and (d) make deposits into the DBRA s Local Brownfield Revolving Fund, as follows: 20

25 Table 2: Estimate of Tax Capture Revenues Tax Capture Revenue Reimbursements Costs DBRA Admin. Costs State Brownfield Fund Local Revolving Fund Tax Increment Revenues Construction Income Tax Revenues State Income Tax Capture Revenues Withholding Tax Capture Revenues City Income Tax (Ren. Zone) $229,558,387 $3,260,262 $18,805, $18,174, $51,694, $256,283, $1,660, Total $557,371,278 $3,260,262 $18,805, In addition to the foregoing, it is anticipated that the exemption from sales and use taxes available for the redevelopment of eligible property included in a transformational brownfield plan as provided for in 2017 PA 48, MCL d and 2017 PA 49, MCL , will result in a reduction in construction costs of $60,647,889 as necessary to support the economic viability of the projects included in this Plan. This Plan intends that 100% of available tax increment revenues will be captured and used. This Plan further intends that, consistent with Act 381, as amended, 100% of available construction period tax capture revenues, 50% of available withholding tax capture revenues, and 50% of available income tax capture revenues will be utilized. However, in accordance with Section 14a(8) and 13c(13), this Plan intends to utilize 100% of the income tax capture revenues generated within the Renaissance Zone applicable to the undeveloped portion of the Hudson s Site prior to the expiration of the Renaissance Zone on December 31, The tax capture revenues presented above, and in Attachment F, reflect these percentages. 21

26 There are no current residents domiciled within the Transformational Project Sites or employees working within the Transformational Project Sites as their principal place of employment. Accordingly, the initial withholding tax value and initial income tax value for each Transformational Project Site is zero. The Tax Capture Revenues presented above, and in Attachment F, reflect the use of all such incremental withholding tax capture revenues and income tax capture revenues. As stated above, Attachment F-1 contains the estimated Tax Capture Revenues for this entire Plan, per year and in total. Unless approved in writing by the MSF or otherwise provided for in the Reimbursement Agreement, (a) the amount of withholding tax capture revenues and income tax capture revenues transmitted under this Plan for a given year shall not exceed the amount estimated in Attachment F-1 for this entire Plan for such year; and (b) the total amount of withholding tax capture revenues and income tax capture revenues transmitted during the duration of this Plan shall not exceed the amount estimated in Attachment F-1 for this entire Plan for all years. 5 The MSF may approve the transmittal of withholding tax capture revenues and income tax capture revenues in excess of the amount estimated in Attachment F-1 for this entire Plan for a given year, or in excess of the amount estimated in Attachment F-1 for this entire Plan for all years, if and only if the MSF or State Treasurer has the authority to disburse such additional amounts under Sections 14a(20) and 14a(21) of Act 381 and determines that the transmittal and use of such additional amounts is otherwise consistent with the requirements of Act 381. More detailed provisions implementing this paragraph, and the preceding paragraph, will be set forth in the Reimbursement Agreement. MSF approval is not required to transmit an amount in excess of the amount estimated for a specific Transformational Project Site within this Plan, so long as the total amount transmitted under this Plan does not exceed the annual or overall estimate for this entire Plan in Attachment F-1. Additional detail on the capture and use of tax increment revenues, including an estimate of the impact on the taxing jurisdictions under the DBRA, is included in Part 5 of this Plan. 2.4 Beginning Date and Duration of Capture of Construction Period Tax Capture Revenues, Tax Increment Revenues, Withholding Tax Capture Revenues, and Income Tax Capture Revenues (Section (13)(2)(f) and 13c(3)(d) The capture and use of construction period tax capture revenues shall commence with the commencement of construction on each Transformational Project Site. Subject to Sections 13b(16) and 13c(11) of Act 381, the beginning date and duration of the use of tax increment 5 For purposes of this paragraph and the subsequent paragraph, income tax capture revenues do not include the capture of taxes levied under the city income tax act, which are not subject to the limitation under Section 14a(20) or Section 14a(21) of Act

27 revenues, withholding tax capture revenues, and income tax capture revenues for each Transformational Project Site shall be in accordance with the TIF tables in Attachment F. In no event, however, shall: (a) the beginning date of the use of tax increment revenues, withholding tax capture revenues, and income tax capture revenues under this Plan be later than five (5) years after the date of the MSF s resolution approving this Plan; and (b) the duration of the capture and use of tax increment revenues, withholding tax capture revenues, and income tax capture revenues extend beyond the maximum period allowed by Sections 13b(16) 13c(11) of Act 381. Pursuant to discussions with MEDC Brownfield Staff, it is anticipated that the MSF will act on approval of this Plan in early As set forth in Attachment F, the beginning tax years for the capture and use of tax increment revenues, income tax capture revenues, and withholding tax capture revenues for each Transformational Project Site are as follows: Hudson s Site: 2023 Monroe Blocks: 2023 OCM Expansion: 2020 Book Building and Tower: 2021 Pursuant to MSF s Guidelines for Transformational Brownfield Plans, construction under a Transformational Brownfield Plan must commence within one (1) year of the MSF s resolution approving the plan. It is currently anticipated that construction will commence under this Plan as early as December 2017, satisfying such requirement for the Plan. Developer expects construction to begin on all Transformational Project Sites within two (2) years of the approval of this Plan by the MSF. It is also currently anticipated that all eligible activities will be substantially completed within five (5) years of the date the MSF approves this Plan. The parties acknowledge that the anticipated completion date of the eligible activities exceeds the standard three (3) year completion requirement, as described in the DBRA Guidelines; however, due to the size and complexity of the projects, the additional two (2) years has been requested and is amenable to DBRA. The Transformational Project Sites will become a part of this Plan on the date this Plan is approved by the governing body. 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. 23

28 b. The governing body may terminate this Plan (or any subsequent amendment thereto) with respect to eligible property 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 MSF approval of this Plan (or any subsequent amendment thereto), provided that the governing body first does both of the following: (a) gives thirty (30) days written notice to the Developer of the applicable Transformational Project Site at its last known address by certified mail or other method that documents proof of delivery attempted; and (b) provides the Developer of the applicable eligible property 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. 3.0 INFORMATION REQUIRED BY SECTION 14a(1)-(3) OF ACT 381 Pursuant to Section 14a(2) and Section 14(5) of Act 381, the governing body has found that this Plan constitutes a public purpose in accordance with Act 381. Upon such a finding, Section 14a(1)-(3) of Act 381 require the governing body to determine whether to approve or disapprove a proposed transformational brownfield plan based on the following considerations. 3.1 Whether the Plan Meets the Requirements of Section 2(vv) and Will Have a Transformational Impact on Local Economic Development and Community Revitalization (Section 14a(3)(a)) As set forth in Part 2.1 of this Plan, this Plan meets the minimum investment requirements of Section 2(vv) of Act 381 and will have a transformational impact on local economic development and community revitalization. Under Section 2(vv) of Act 381, a plan for mixed-use development on eligible property may be designated as a transformational brownfield plan if it meets the minimum investment requirements of Section 2(vv) and is expected to have a transformational impact on local economic development and community revitalization based on the extent of brownfield redevelopment and growth in population, commercial activity, and employment that will result from the plan. For a project in Detroit, a city with a population of more than 600,000, the minimum investment requirement to be designated as a transformational brownfield plan is $500,000,000. This Plan is anticipated to result in more than $2.1 billion in capital investment, significantly exceeding the $500 million statutory threshold. 24

29 As detailed in Part 2.1, in conjunction with the development of this Plan, Developer requested that Plante Moran Cresa and WSP Parsons Brinckerhoff prepare an analysis of the job creation, economic, and fiscal impacts of this Plan. In addition to the impact on population growth in the City that will result from the construction of approximately 900 new residential units, the Plante Report and WSP Report estimated that this Plan will: Create or support 15,800 construction jobs and 7,261 new direct, permanent, fulltime equivalent jobs in the City. Support an additional 7,000 indirect and induced jobs from the ongoing permanent economic activity above. Generate $3 billion in total economic output from construction. Support $2.5 billion in annual economic output once the projects are completed. Given the scale of the Transformational Project Sites, which collectively cover approximately 5.6 acres, and of the proposed developments included in this Plan, the extent of brownfield redevelopment expected to result from this Plan also supports designation as a Transformational Brownfield Plan. In addition, by delivering large-scale, world-class mixed-use developments that are expected (along with recent investments by other stakeholders) to create a highly dynamic and attractive live-work-play environment in Detroit s urban core, the Plan is calculated to position Detroit to be competitive with leading urban centers across the country with respect to the attraction of talent and new economy companies, with the objective of creating a new trajectory of long-term economic growth in Detroit. Based on the foregoing, upon the approval of this Plan, the governing body will have determined that this Plan will have a transformational impact on local economic development and community revitalization based on the extent of brownfield redevelopment and growth in population, commercial activity, and employment that will result from the plan and meets the requirements for designation as a Transformational Brownfield Plan under Section 2(vv) of Act Whether the Plan Meets the Requirements of Sections 13, 13b, and 13c (Section 14a(3)(b)) This Plan meets the requirements of Sections 13, 13b, and 13c as addressed in Part 2 above and Part 5 below. This Plan describes the eligible property and basis for eligibility, summarizes and provides the estimated cost of eligible activities, estimates the Tax Capture Revenues and the impact on taxing jurisdictions, provides for the proposed beginning date and duration of capture in accordance with the limitations of Act 381, and otherwise addresses the requirements for a compliant brownfield plan and transformational brownfield plan under Section 13, 13b, and 13c of Act

30 3.3 Whether the Cost of Eligible Activities are Reasonable and Necessary to Carry out the Purposes of Act 381 (Section 14a(3)(c); Section 14a(5)) Under Section 14a(3)(c) of Act 381, the governing body is to consider whether the costs of the proposed eligible activities are reasonable and necessary to carry out the purposes of Act 381. As evidenced by its approval of this Plan, and as will be set forth in the resolution approving this Plan, the governing body will have considered this criterion and will have concluded that the proposed reimbursement for eligible activities is required for the projects to be economically viable and, therefore, that the cost of eligible activities is reasonable and necessary to fulfill the purposes of Act 381. Prior to its consideration and approval of this Plan, the MSF is required to conduct a financial and underwriting analysis of the projects included in this Plan under Section 14a(5) of Act 381, which specifically provides that the MSF shall not approve the use of Tax Capture Revenues beyond the amount determined to be necessary for the projects to be economically viable. Section 14a(7) of Act 381 requires an independent third-party analysis as part of this MSF underwriting process. Further, pursuant to Section 14a(8) of Act 381, the MSF is authorized to modify the amount of income tax capture revenue and withholding tax capture revenue prior to approving a plan if the MSF determines it is necessary to bring the plan into compliance with the underwriting requirements in Section 14a(5) of Act 381. Developer does not anticipate any such modification. 3.4 Whether the Amount of Captured Taxable Value, Construction Period Tax Capture Revenues, Withholding Tax Capture Revenues, and Income Tax Capture Revenues Estimated Are Reasonable (Section 14a(3)(d); Section 14a(5)) Under Section 14a(3)(d) of Act 381, the governing body is to consider whether the amount of captured taxable value, construction period tax capture revenues, withholding tax capture revenues, and income tax capture revenues estimated to result from adoption of the transformational brownfield plan are reasonable. As will be set forth in the resolution approving this Plan, the governing body will have considered this criterion and determined to approve this Plan. 3.5 Whether, Based on an Economic and Fiscal Impact Analysis, this Plan will Result in an Overall Positive Fiscal Impact to this State Under Section 14a(3)(e) of Act 381, the governing body is to consider whether, based on an economic and fiscal impact analysis, a proposed transformational brownfield plan will result in an overall positive fiscal impact to this State. As will be set forth in the resolution approving this Plan, the governing body will have considered this criterion and determined to approve this Plan. 26

31 The MSF is responsible for conducting the state-level fiscal and economic impact review required under Section 14a(6) of Act 381, which provides that the MSF shall not approve a transformational brownfield plan unless it determines that the plan will result in an overall positive fiscal impact to this state; and under Section 14a(7) of Act 381, which requires an independent third-party analysis as part of the MSF fiscal impact review process. In conjunction with the development of this Plan, Developer requested that WSP Parsons Brinckerhoff, a leading economic consulting firm, prepare an analysis of the fiscal impacts of this Plan ( Parsons Fiscal Impact Report ) for review by the governing body. The Parsons Fiscal Impact Report utilized the IMPLAN model, which is used by more than 500 universities and government agencies to estimate the economic and fiscal impacts of investments, and forecast tax revenue and employment generation. The Parsons Fiscal Impact Report found that this Plan will result in an overall positive fiscal impact to this State. Developer acknowledges that, pursuant to Section 14a(8) of Act 381, the MSF is authorized to modify the amount of income tax capture revenue and withholding tax capture revenue prior to approving a plan if the MSF determines it is necessary to bring the plan into compliance with the fiscal impact requirements of Section 14a(6) of Act 381. Developer does not anticipate any such modification. 3.6 Whether Subject to Subsection (23)(d), this Plan Includes Provisions for Affordable Housing This Plan includes provisions for affordable housing. On July 25, 2017, the Detroit City Council approved the execution of an Affordable Housing Agreement between Bedrock and the City Housing and Revitalization Department ( Affordable Housing Agreement ). Under the Affordable Housing Agreement, Bedrock has committed that 20% of the total number of residential rental units developed in connection with the receipt of financial incentives from the City will be affordable units. The approval of this Plan qualifies as the approval of a financial incentive under the Affordable Housing Agreement. Affordable units are defined as unit dedicated to households at or below 80% of the Area Median Income, at rents that do not exceed 30% of the annual household income for such households, for a period of 30 years. The affordable units may be located anywhere in the designated affordable housing priority area established in the Affordable Housing Agreement, which includes the greater downtown area and such other areas as the City may approve. Under the Affordable Housing Agreement, Bedrock can meet this obligation either by developing new affordable housing or preserving existing affordable housing and extending the affordability period, and may do so either on its own or in concert with third party developers as defined and specified in the Affordable Housing Agreement. The Affordable Housing Agreement is included in this Plan as Attachment I. 27

32 4.0 INFORMATION REQUIRED BY SECTION 14a(3)(f) OFACT 381 The following subsections detail how this Plan takes into account the criteria described in Section 90b(4) of the Michigan Strategic Fund Act. As a related program of investment, the individual projects were designed, and are intended, to work together as a comprehensive transformation strategy that combines office, residential, retail, and public spaces as well as historic rehabilitation and new infill construction. However, taken individually, each project also aligns with the criteria in the Michigan Strategic Fund Act as described below. 4.1 The Importance of this Plan to the Community In Which it is Located This Plan represents one of the largest and most significant investments in the modern history of the City and the transformation of several of its most iconic sites. The projects which are contained in this Plan are anticipated to create or support a total of 7,261 new direct, permanent, full-time jobs in the City, expanding economic opportunity for its residents, and represent a substantial addition to the City s tax base to support its overall recovery and revitalization. Specifically: The Hudson s Site is widely regarded as one of the most important redevelopment priorities in the City of Detroit, and the proposed transformational development is intended to create a landmark economic and cultural asset for the city, region, and state. The Monroe Blocks will redevelop a largely vacant, two-block area in the epicenter of Downtown Detroit and recreate what was once a thriving commercial avenue. In addition to providing residential, retail, and public space, the project will deliver 814,000 GSF of new high-rise office space to bring large-scale job creation to Detroit. The OCM Expansion, which is projected to be completed in 2019, will provide the office space that is critically needed to attract large-scale tenants and jobs to Detroit in the near-term and maintain the City s growth and economic progress. The Book Building and Book Tower is one of Detroit s most treasured historic structures. After being largely vacant for two decades, this project will bring the Book Building and Tower back to life and serve as a catalyst for the continuing revitalization of the historic Washington Boulevard district. 4.2 Whether this Plan Will Be a Catalyst for Additional Revitalization As a transformational Plan, this program of investment is specifically intended to serve as a catalyst for additional development and revitalization in the area around it. This Plan will significantly increase employment and residential density in downtown Detroit, 28

33 generating demand for surrounding businesses. Overall, this Plan is anticipated to transform Detroit s urban core into a leading live, work, play urban center, which will accelerate the upward trend in market rental rates and continue to enhance the economic viability of, and market demand for, surrounding redevelopment. Specifically: The Hudson s Site is intended to be a landmark destination that will attract an estimated three million visitors per year, driving spillover traffic to neighboring businesses while helping to establish Detroit as one of the nation s most exciting cities to drive further population, investment, and job growth in the City. The Monroe Blocks will house an estimated 3,500 total office workers and 482 households, creating significant new demand for surrounding restaurants, retail, and service businesses as well as business-to-business and industry clustering opportunities. The project is anticipated to be a major catalyst for broader investment and revitalization in the City. The OCM Expansion will house an estimated 1,350 total office workers in Downtown Detroit, contributing significantly to the redevelopment of downtown Detroit into a dense, walkable urban center and building the employment density that supports retail and residential development in the surrounding area. The Book Building and Book Tower will bring new residents, office workers, shoppers, and hotel guests to the area and is anticipated to be the anchor for revitalizing the Washington Boulevard corridor, which historically was one of Detroit s most significant and vibrant commercial and residential boulevards. 4.3 The Amount of Local Community and Financial Support Developer is seeking support for the redevelopment of the Hudson s Site, Monroe Blocks, and Book Building and Book Tower through the provision of local tax abatements under the Neighborhood Enterprise Zone Act, Commercial Rehabilitation Act, and Obsolete Property Rehabilitation Act. These tax abatements are necessary to the economic viability of the proposed redevelopment of each Transformational Project Site. Developer anticipates that the tax abatements, if approved for the full duration, would result in approximately $134 in total property tax abatement across the Transformational Project Sites over the full term. 6 Absent the tax abatements and this Plan, virtually all tax revenues would be captured by the DDA. 7 In addition, both the City and DDA are conveying publicly-owned land for the redevelopment of the Hudson s Site and Monroe Blocks plan pursuant to the terms of the development agreements for each Transformational Project Site. 6 The full term for an abatement under the Neighborhood Enterprise Zone Act is 15 years; the full term for an abatement under the Obsolete Property Rehabilitation Act is 12 years; and the full term for an abatement under the Commercial Rehabilitation Act is 10 years. 7 Absent the tax abatements and this Plan, the DDA would capture all tax revenues except for of the applicable mills levied. 29

34 4.4 Financial Need for the Transformational Brownfield Incentive As discussed extensively in Part 1.3 above, the financial need for transformational brownfield redevelopment incentives results from the difference or gap between development costs and what market rents in the City can support. As evidenced by the approval of this Plan, the governing body will have concluded that this Plan is required for the proposed projects to be economically viable. As also noted above, the MSF is separately required to conduct a financial analysis to determine that the Tax Capture Revenues in this Plan are required for the projects in this Plan to be economically viable. Accordingly, the financial need for the transformational brownfield redevelopment incentives in this Plan has been, and will continue to be, extensively justified. 4.5 The Extent of Reuse of Vacant Buildings, Reuse of Historic Resources, and the Redevelopment of Blighted Property This Plan includes extensive redevelopment of vacant sites and historic resources: The rehabilitation of the Book Building and Book Tower is one of the largest and most significant historic rehabilitation projects ever undertaken in the City. The historic landmark has been primarily vacant for an estimated 20 years. The redevelopment of the Hudson s Site will create a transformational development in place of the currently vacant site which, prior to demolition of the Hudson s Department Store in 1998, was a vacant and blighted building. The redevelopment of the Monroe Blocks will transform a largely vacant two block area that was once a vibrant commercial district. Most of the structures in the district had become blighted and were demolished in the 1990s. As part of the planned redevelopment, the project is anticipated to preserve the historic arched façade to the National Theater building, making it a gateway into the new development and positioning it as a central architectural feature, and thus preserving and celebrating its unique historical character Creation of Jobs The projects which are contained in this Plan are anticipated to directly create or support a total of 7,261 new permanent, full-time equivalent jobs to expand economic opportunity and grow the tax base in the City. Specifically: The Hudson s Site is anticipated to directly create or support 1,007 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 626 new permanent, full-time equivalent jobs in the retail, restaurant, event, and exhibition uses. 30

35 The Monroe Blocks is anticipated to directly create or support 2,941 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 800 new permanent, full-time equivalent jobs in the retail and restaurant uses. The OCM Expansion is anticipated to directly create or support 1,155 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 69 new permanent, full-time equivalent jobs in the event/auditorium uses. The Book Building and Tower is anticipated to directly create or support 334 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 329 new permanent, full-time equivalent jobs in the retail, restaurant, and event uses. The Parsons Economic Impact Report estimated that 85% of the total office workers within the Transformational Project Sites would represent net new jobs in the City and that 90% of the total employees within the retail, restaurant, event, and exhibit space represent net new jobs in the City. The figures above reflect these proportions. Based on a review of (a) data on the expansion trajectories and space needs of current businesses in the Detroit CBD; (b) the relationship between office market absorption in the Detroit CBD and Metro Detroit as a whole; and (c) Developer s tenant attraction pipelines, the Parsons Reports also concluded that the majority of the office jobs located within the Transformational Project Sites are likely to be net new to the State of Michigan rather than jobs relocating from elsewhere in the metropolitan area. 4.7 The Level of Private Sector and other Contributions, including, but not limited to, Federal Funds and Federal Tax Credits The Developer is providing substantial equity in excess of what is required under the TBP Guidelines. Under the TBP Guidelines, developers are required to contribute at least 20% equity towards the proposed developments (which in this case would equate to $420 million of the total $2.1 billion investment). It is anticipated that Developer s equity contribution will be closer to twice that amount. Developer also anticipates utilizing federal historic tax credits to support the redevelopment of the Book Building and Book Tower. 4.8 Whether this Plan is Financially and Economically Sound As a result of the reimbursement for eligible activities provided for under this Plan to close the financial gap between development costs and attainable market rents in the City, each project included in this Plan (and this Plan as a whole) is economically viable, and Developer is prepared to undertake each project. This Plan places no financial or market risk on the public sector. 31

36 4.9 Whether this Plan Increases the Density of the Area This Plan is designed to create a dense, walkable, live-work-play urban center. It is anticipated to deliver 3.2 million square feet of new infill residential, retail, and commercial development into Detroit s CBD, including the first new high rise office and residential developments in the City in approximately 25 years Whether this Plan Promotes Mixed-Use Development and Walkable Communities The Plan is for mixed-use development and combines residential, retail, office, event, exhibit, hotel, and public spaces. It promotes the development of walkable communities through the concentration of these different uses in the CBD and the creation of a live, work, play environment in this compact area. Further, as depicted in Attachments C-1 and C-2, the Hudson s Site and Monroe Blocks projects were each designed with a focus on pedestrian activity, as reflected in the pedestrian paths that traverse each. The Hudson s Site, Monroe Blocks, and OCM Expansion are all situated on the Q-LINE streetcar system and served by local and well as regional Reflex bus service Whether this Plan Converts Abandoned Public Buildings to Private Use The majority of the parcels included in this Plan (the Hudson s Site and five of the seven parcels comprising the Monroe Blocks) are currently publicly-owned and previously housed abandoned and blighted buildings that were demolished. This Plan will convert these publicly-owned, vacant sites into transformational developments Whether this Plan Promotes Sustainable Development This Plan promotes sustainable development at the plan-level through the creation of a dense, walkable, mixed-use community. In addition: The redevelopment plan for the Hudson s Site includes pursuing the WELL Building Standard for office space. The WELL Building Standard is a performancebased system for measuring, certifying, and monitoring features of the built environment that impact human health and wellbeing and is third-party certified by the Green Business Certification Incorporation. The Monroe Blocks development is committed to creating a sustainable project with a mix of high-density uses located near transit. In addition to providing efficient and integrated building systems, the site provides over one acre of outdoor public space, and a building form that maximizes access to daylight for those inside and outside of the buildings. 32

37 The OCM Expansion will continue the utilization of leading technologies and methods that earned the original Compuware Building the ENERGY STAR for superior energy performance, including highly efficient HVAC design, demandresponsive controls, high-efficiency lighting, building sensors, and active building management. The Book Building and Book Tower will be retrofitted into a modern, energyefficient mixed use development. Installation of state of the art mechanical and electrical systems will provide energy efficiency, decrease demand on public utilities, and increase overall tenant comfort Whether this Plan Involves the Rehabilitation of an Historic Resource The Book Building and Book Tower is an historic resource and will be comprehensively rehabilitated under this Plan Whether this Plan Addresses Area-Wide Redevelopment As a related program of investment covering over 5 acres in Detroit s CBD, this Plan is specifically intended to be a multi-project, area-wide transformation strategy. As discussed in Part 4.2 above, this Plan is also specifically intended to be a catalyst for revitalization in the surrounding area Whether this Plan Addresses Underserved Markets of Commerce Despite recent progress, Detroit remains an underserved market of commerce. According to the 2016 Storefront Index, which measures the number and density of retail storefronts in America s major downtowns, Detroit ranks last out of the 52 largest cities The Level and Extent of Environmental Contamination The Monroe Blocks is the only Transformational Project Site included in this Plan on the basis of being a facility. The eligible properties commonly known as 32 Monroe Street and 725 Bates Street are large parcels and facilities as defined under Act 381. Developer will conduct due care activities on these parcels as contemplated by the Environmental Documents Whether the Rehabilitation of the Historic Resource will meet the Federal Secretary of the Interior's Standards for Rehabilitation and the Guidelines for Rehabilitating Historic Buildings (36 CFR 67) Developer intends to rehabilitate the Book Building and Book Tower in accordance with the Secretary of the Interior s Standards for Rehabilitation. 33

38 4.18 Whether this Plan Will Compete with or Affect Existing Michigan Businesses in the Same Industry This Plan is not anticipated to compete with existing Michigan businesses but rather to foster population, employment, and economic growth in the City and State of Michigan. 5.0 INFORMATION REQUIRED BY SECTION 13(2) OF ACT 381 A transformational brownfield plan is a brownfield plan. Accordingly, Parts 1-4 above substantially contain the information required for a traditional brownfield plan under Section 13(2) of Act 381. However, to facilitate review of this Plan and ensure proper consideration of underlying brownfield plan requirements, the requirements of Section 13(2) of Act 381 are also addressed separately below. 5.1 Description of Costs to be Paid for With Tax Increment Revenues As set forth in Part 2.2, the capture of tax increment revenues will be applied to (a) reimbursement of the costs of eligible activities as provided for in Attachment E; (b) except as provided for in the DBRA Guidelines, payment of DBRA administrative and operating expenses, and (c) make deposits into the State Brownfield Redevelopment Fund. 5.2 Summary of Eligible Activities The eligible activities under this Plan are set forth in Attachment E and include core and shell construction (for the development of the Hudson s Site, Monroe Blocks, and OCM Expansion); core and shell restoration and renovation (for the rehabilitation of the Book Building and Book Tower); and a 15% contingency on these eligible activities. As stated above, the eligible activities identified in Attachment E are intended to be reimbursed from Tax Capture Revenues generally, and there is no specific assignment of particular forms of Tax Capture Revenue (i.e., construction period tax capture revenues, tax increment revenues, withholding tax capture revenues, and income tax capture revenues) to particular eligible activities. Except as otherwise provided in this Plan, any form of available Tax Capture Revenues may be applied to any eligible activity identified in Attachment E. 5.3 Estimate of Captured Taxable Value and Tax Increment Revenues The tables included as Attachment F estimate the Captured Taxable Value for each Transformational Project Site as well as the amount of tax increment revenues expected to be generated annually and in total over the duration of this Plan. Attachment F-1 contains the estimate of tax increment revenues per year and in total for this entire Plan, which is 34

39 then followed by Attachment F-2 (showing the same for the Hudson s Site); Attachment F-3 (for the Monroe Blocks); Attachment F-4 (for the OCM Expansion); and Attachment F-5 (for the Book Building and Book Tower). The estimated capture of tax increment revenues is contained in Table 3 below: Table 3: Estimate of Tax Increment Revenues Tax Capture Revenue Reimbursements Costs DBRA Admin. Costs State Brownfield Fund Local Revolving Fund Tax Increment Revenues $229,558,387 $3,260,262 $18,805, Method of Financing (Section 13(2)(d)) and Description of Advances Made by Municipality The eligible activities are to be financed solely by the Developer of each Transformational Project Site. The DBRA, City, and MSF or State Treasurer (as applicable) will reimburse the Developer of each Transformational Project Site for the cost of approved eligible activities, but only from Tax Capture Revenues generated from this Plan. No advances have been or shall be made by the City or the DBRA for the costs of eligible activities under this Plan. 5.5 Maximum Amount of Note or Bonded Indebtedness (Section 13(2)(e)) Unless otherwise agreed upon by the Developer, the DBRA, the City of Detroit, and the State of Michigan, the DBRA shall not incur any note or bonded indebtedness to finance eligible activities within this Plan. 5.6 Duration of Brownfield Plan Subject to Sections 13b(16) of Act 381, the beginning date and duration of the use of tax increment revenues for each Transformational Project Site shall be in accordance with the TIF tables in Attachment F. In no event, however, shall: (a) the beginning date of the use of tax increment revenues under this Plan be later than five (5) years after the date of the MSF s resolution approving this Plan; and (b) the duration of the capture and use of tax increment revenues extend beyond the maximum period allowed by Sections 13b(16) of Act 381. Pursuant to discussions with MEDC Brownfield Staff, it is anticipated that the MSF will act on approval of this Plan at the beginning of

40 5.7 Estimated Impact of Tax Increment Financing on Revenues of Taxing Jurisdictions This Plan captures all tax increment revenues within the meaning of section 2(ss) of Act 381. Pursuant to the agreement between the DDA and the Wayne County Board of Commissioners (the County ) dated July 17, 1978, as amended by the First Amendment to Agreement between Charter County of Wayne and the DDA dated December 17, 2013, the DDA does not capture three of the taxes currently imposed by the County (an approximately mill operating millage, an approximately mill jail millage and an approximately mill parks millage). Pursuant to Section 13(2)(c) of Act 381, these millages are required to be included as tax increment revenues captured by this Plan. Table 4 below provides the estimated impact of the capture of tax increment revenues on the taxing jurisdictions within the DBRA as well as the use of the tax increment revenues. Table 4: Estimated Impact on Revenues of Taxing Jurisdictions Tax Capture Revenue Reimbursements Costs DBRA Admin. Costs MSF Admin. Costs State Brownfield Fund Local Revolving Fund School Operating Tax State Education Tax County Operating, Parks, and Jail (Winter) RESA (Winter) $145,907, $31,325, $18,805, $14,831,052 $924, $37,4,94,166 $2,335, Total $229,558,387 $3,260, $18,805, In addition, the following property taxes are projected to be generated but shall not be captured under this Plan. With the exception of the millages levied for the DIA and Detroit Zoo, all taxes below are captured by the DDA. City Operating $136,277,492 Library $31,628,919 36

41 County Operating (Summer) $38,579,398 WCCC (Winter) $21,928,630 HMCA (Winter) $1,465,775 City Debt $64,943,481 School Debt $89,188,288 DIA Tax $1,366,053 Zoo Tax $683,027 Total $386,061, Legal Description, Property Map, Statement of Qualifying Characteristics, and Personal Property This information is provided in Part 1.1 and Part 1.2 of this Plan. 5.9 Estimates of Residents and Displacement of Individuals/Families There are no persons residing within the Transformational Project Sites and no occupied residences will be acquired or cleared. Therefore, there will be no displacement or relocation of persons under this Plan Plan for Relocation of Displaced Persons There are no persons residing within the Transformational Project Sites and no occupied residences will be acquired or cleared. Therefore, there are no plans for relocation of persons under this Plan Provisions for Relocation Costs There are no persons residing within the Transformational Project Sites and no occupied residences will be acquired or cleared. Therefore, there are no provisions for relocation costs. 37

42 5.12 Strategy for Compliance with Michigan s Relocation Assistance Law There are no persons residing within the Transformational Project Sites and no occupied residences will be acquired or cleared. Therefore, there are no strategies for compliance with Michigan s relocation assistance law Other Material that the Authority or Governing Body Considers Pertinent Local Brownfield Revolving Fund ( LBRF ) (Section 8; Section 13(2)(m)) The DBRA has established a Local Brownfield Revolving Fund ( LBRF ). The LBRF consists of all tax increment revenues authorized to be captured and deposited in the LBRF, as specified in Section 13(5) of Act 381, under this Plan and any other plan of the DBRA. The LBRF may also include funds appropriated or otherwise made available from public or private sources. The amount of tax increment revenue authorized for capture and deposit in the LBRF under this Plan is estimated at. All funds, if any, deposited in the LBRF shall be used in accordance with Section 8 of Act State Brownfield Redevelopment Fund (Section 8a; Section13(2)(m)) The DBRA shall pay to the Department of Treasury at least once annually an amount equal to 50% of the taxes levied under the state education tax, 1993 PA 331, MCL to , 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 Transformational Project Site included in this Plan. If the DBRA pays an amount equal to 50% of the taxes levied under the state education tax, 1993 PA 331, MCL to , on a Transformational Project Site included in this Plan to the Department of Treasury under Section 13b(14) of Act 381, the percentage of local taxes levied on that Transformational Project Site and used to reimburse eligible activities for that Transformational Project Site under this Plan shall not exceed the percentage of local taxes levied on that Transformational Project Site that would have been used to reimburse eligible activities for that Transformational Project Site under this Plan if the 50% of the taxes levied under the state education tax, 1993 PA 331, MCL to , on that Transformational Project Site were not paid to the Department of Treasury under Section 13b(14) of Act Developer s Obligations, Representations and Warranties Until a certificate of occupancy has been issued for the development constructed on a Transformational Project Site, Developer agrees to comply with the following Executive Orders (collectively, Executive Orders ) for each site; provided, however, the Developer shall not be required to comply with any of the Executive Orders which have been 38

43 terminated and the obligation of the Developer to comply (or require compliance) with the Executive Orders shall be modified to the extent that the orders are amended or modified to provide less stringent requirements or a variance is obtained: (a) Target Business Participation (Executive Order ): Developer shall use its best efforts in contracting for the design and construction of the projects being developed on each Transformational Project Site to cause thirty percent (30%) of the total dollar value of all contracts let each year for goods and services to be awarded to Detroit Based Businesses, Small Business Enterprises (as those terms are defined under the City s Executive Order No ), or Minority Owned Businesses or Women Owned Businesses, as defined by the City. (b) Utilization of Detroit Residents (Executive Order No ): Construction of the projects proposed for each Transformational Project Site shall be subject to City of Detroit Executive Order No , and Developer shall require any and all contractors and subcontractors hired to perform such work to comply with said Executive Order. The Developer represents and warrants that a Phase I Environmental Site Assessment ( ESA ), and if recommended by the ESA, 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 et seq.), has been or will be performed on the Properties, as applicable ( Environmental Documents ). Attached hereto as Attachment G is the City s Department of Buildings, Safety Engineering and Environmental acknowledgement of its receipt of the ESA, and if applicable, the Environmental Documents, or the Environmental Documents will be submitted to the DBRA and MSF as completed. Except as may be required in any development agreement relating to a Transformational Project Site, the Developer further represents and warrants that the Transformational Project Sites do not, and during the term of the Plan, will not include a City of Detroit Land Bank Authority, Wayne County Land Bank Authority or State of Michigan Land Bank financing component. Any portion of this Part which is undertaken by the developer of a Transformational Project Site shall only apply to such Developer and such Transformational Project Site, and a breach of another Developer related to another Transformational Project Site shall not be imputed to the Developer of any other Transformational Project Site, its successors or assigns. 6.0 DEVELOPMENT TEAM EXPERIENCE Bedrock is a full service commercial real estate firm based in downtown Detroit specializing in the strategic development of urban cores. With a portfolio of more than 90 39

44 properties totaling over 15 million square feet, Bedrock is the largest real estate partner in downtown Detroit and also has a strong presence in Cleveland. Bedrock s experienced real estate experts provide a full range of services, with in-house teams for each area of expertise, including Leasing, Acquisition, Finance, Construction, Architecture, Historic Rehab, and Property Management. Bedrock and/or its affiliates have previously received MSF awards for the projects known as City Modern in Detroit s Brush Park neighborhood and the rehabilitation of the Malcolmson Building at 1215 Griswold St. in Detroit s Capitol Park district. 40

45 ATTACHMENTS

46 ATTACHMENT A-1 Transformational Project Site Location Map

47 ATTACHMENT A-2 Project Site Plan with Addresses and Parcel Data

48 ATTACHMENT B-1 Legal Descriptions of Eligible Properties to which the Plan Applies and Basis for Eligibility Hudson s Site Address Legal Description Tax ID Basis for Eligibility 1208 Woodward Avenue Land in the City of Detroit, County of Wayne, State of Michigan, described as: Unit 1 of the Campus Martius Condominium, the Master Deed of which is recorded in Liber 30861, Page 557, Wayne County Records, being Wayne County Condominium Subdivision Plan No Functionally obsolete 1208 Woodward Avenue Land in the City of Detroit, County of Wayne, State of Michigan, described as: Unit 2 of the Campus Martius Condominium, the Master Deed of which is recorded in Liber 30861, Page 557, Wayne County Records, being Wayne County Condominium Subdivision Plan No Undeveloped property from an abolished plan Monroe Blocks Address Legal Description Tax ID Basis for Eligibility 32 Monroe S MONROE 50 THRU 47PLAT OF Facility SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R 1/5 3 THRU 1PLAT OF LOTS 45 & 46 SEC 6 GOVERNOR & JUDGES PLAN L1 P68 PLATS, W C R 1/17 44 & 43 W 19 FT 42PLAT OF SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R 1/5 1/ ,070 SQ FT 725 Bates W BATES 5 THRU 1 AND VAC ALLEY ADJ E C NOBLES SUB L5 P61 PLATS, W C R 1/ THRU 80 AND VAC ALLEY ADJ Facility

49 PLAT OF SEC 6 - GOV & JUDGES PLANL34 P545 DEEDS, W C R 1/51/--- 24,185 SQ FT 100 Monroe S MONROE W 5 FT OF PLAT OF SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R L34 P545 DEEDS, W C R 1/5 66 X Monroe S MONROE E 60 FT 52 PLAT OF SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R 1/5 60 X Monroe S MONROE 53 THRU 56 E 16.5 FT & VAC LIBRARY AVE & VAC ALLEYS ADJ EXC RANDOLPH ST AS WD PLAT OF SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R 1/ IRREG Adjacent and Contiguous Functionally Obsolete Adjacent and Contiguous 815 Bates N BATES W 1/2 OF 82 PLAT OF SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R 1/ X Functionally Obsolete 1000 Farmer N BATES 81 PLAT OF SEC 6 GOVERNOR & JUDGES PLAN L34 P545 DEEDS, W C R 1/5 61 X Functionally Obsolete Land beneath Cadillac Square, no current address 1 LAND BENEATH PART OF CADILLAC SQUARE (200 FEET WIDE), CITY OF DETROIT, WAYNE COUNTY, MICHIGAN, BEING MORE PARTICULARLY DESCRIBED AS: BEGINNING AT THE INTERSECTION OF THE NORTH LINE OF CADILLAC SQUARE (200 FEET WIDE) WITH THE EAST LINE OF WOODWARD AVENUE (VARIABLE WIDTH), SAID POINT ALSO BEING THE No parcel number Adjacent and Contiguous

50 SOUTHWEST CORNER OF LOT 2 OF THE PLAT OF LOTS 45 & 46, SECTON 6 OF GOVERNOR & JUDGES PLAN, L1, P68; THENCE ALONG SAID NORTH LINE, N E, FEET TO A POINT ON THE WEST LINE OF BATES STREET; THENCE ALONG SAID WEST LINE, S e, FEET; THENCE S W, FEET TO THE EAST LINE OF WOODWARD AVENUE; THECE ALONG SAID EAST LINE, N W, FEET TO THE POINT OF BEGINNING, AND CONTAINING ACRES OR 52,492 SQUARE FEET. 1 In recognition of the potential grant of an easement or other property interest in the land beneath Cadillac Square for the construction of below-grade parking, this Plan includes the property as described above pending finalization of the transaction and tax parcel identification number. One Campus Martius Expansion Address Legal Description Tax ID Basis for Eligibility 1000 Woodward Avenue PROPOSED UNIT 2 ONE CAMPUS MARTIUS CONDOMINIUM LAND IN THE CITY OF DETROIT, WAYNE COUNTY, MICHIGAN: A PART OF SECTION NO. 7 GOVENOR AND JUDGES PLAN OF THE CITY OF DETROIT, AS RECORDED IN LIBER 34, PAGE 544 OF DEEDS AND LIBER 1, PAGE 199 OF PLATS, WAYNE COUNTY RECORDS; ALSO, A PART OF SUBDIVISION OF LOT 80 SECTION NO. 7 GOVENOR AND JUDGES PLAN OF THE CITY OF DETROIT, AS RECORDED IN LIBER 1, PAGE 271 OF PLATS, WAYNE COUNTY RECORDS AND BEING (current); property to be converted to condominium with separate unit and tax parcel for the expansion. 2 Adjacent and contiguous

51 MORE PARTICULARLY DESCRIBED AS: HORIZONTAL LOCATION A PART OF LOTS 79 AND 81 OF SAID SECTION NO. 7 GOVENOR AND JUDGES PLAN OF THE CITY OF DETROIT, AND A PART OF LOTS 1 AND 2, AND ALL OF LOTS 3, 4 AND 5 OF SAID SUBDIVISION OF LOT 80 SECTION NO. 7 GOVENOR AND JUDGES PLAN OF THE CITY OF DETROIT, AND ALL OF THE VACATED ALLEYS LYING WITHIN THE FOLLOWING DESCRIBED BOUNDS: COMMENCING AT THE INTERSECTION OF THE SOUTHEASTERLY LINE OF GRATIOT AVENUE (60 FEET WIDE) AND THE EASTERLY LINE OF WOODWARD AVENUE (120 FEET WIDE); THENCE S E, FEET TO A POINT ON AN EXISITING FACE OF A 15 STORY OFFICE BUILDING; THENCE N E, FEET ALONG SAID BUILDING FACE TO THE POINT OF BEGINNING: THENCE THE FOLLOWING 6 COURSES ALONG THE APPROXIMATE FACE OF SAID EXISTING OFFICE BUILDING, (1) N E, FEET AND, (2) S E, FEET AND, (3) S W, FEET AND (4), N W, FEET AND, (5) S W, FEET AND, (6) N W, FEET TO THE POINT OF BEGINNING. LOWER VERTICAL LIMIT THE LOWER VERTICAL LIMIT OF THE THREE-DIMENSIONAL LEGAL DESCRIPTION SHALL

52 BE AN ELEVATION OF FEET, CITY OF DETROIT DATUM, 47.9 FEET ABOVE STREET LEVEL. UPPER VERTICAL LIMIT THE UPPER VERTICAL LIMIT OF THE THREE-DIMENSIONAL LEGAL DESCRIPTION SHALL BE AN ELEVATION OF FEET, CITY OF DETROIT DATUM, FEET ABOVE STREET LEVEL. 2 In recognition of the intended conversion of the property at 1000 Woodward Avenue into a condominium, with a separate unit and tax parcel identification number for the planned expansion, this Plan includes the property as described above and as depicted in Attachment B- 3 pending the finalization of the transaction and tax parcel identification number. Book Building and Book Tower Address Legal Description Tax ID Basis for Eligibility 1249 Washington Boulevard W WASHINGTON BLVD 9 THRU 7 & N FT OF E 10 FT OF VAC ALLEY IN REAR OF LOT 7 W 5 FT OF VAC WASHINGTON BLVD ADJ PLAT OF SEC 10 GOVERNOR & JUDGES PLAN L34 P553 DEEDS, W C R 2/ IRREG Historic Resource 1265 Washington Boulevard 1201 Washington Boulevard W WASHINGTON BLVD 10 W 5 FT OF VAC WASHINGTON BLVD ADJ PLAT OF SEC 10 GOVERNOR & JUDGES PLAN L34 P553 DEEDS, W C R 2/ X 105 W WASHINGTON BLVD 6&5 & VAC ALLEY IN REAR W 5 FT OF VAC WASHINGTON BLVD ADJ PLAT OF SEC 10 GOVERNOR & JUDGES PLAN L34 P553 DEEDS, W C R 2/ X Historic Resource Adjacent and Contiguous

53 ATTACHMENT B-2 MONROE BLOCKS COMBINED PARCEL MAP AND DESCRIPTION

54 ATTACHMENT B-2 MONROE BLOCKS COMBINED PARCEL MAP AND DESCRIPTION PARTS OF LOTS 54 THROUGH 56 INCLUSIVE, THE WESTERLY 19 FEET OF LOT 42, AND ALL OF LOTS 43, 44, 47 THROUGH 53 INCLUSIVE, LOTS 78 THROUGH 83 INCLUSIVE OF SECTION 6 OF THE PLAT OF THE CITY OF DETROIT AS LAID OUT BY THE GOVERNOR AND JUDGES, AS RECORDED IN LIBER 34 OF DEEDS, PAGE 545, WAYNE COUNTY RECORDS; AND LOTS 1 THROUGH 3, INCLUSIVE, OF THE PLAT OF LOTS 45 & 46, SECTION 6 OF GOVERNOR & JUDGES PLAN, AS RECORDED IN LIBER 1 OF PLATS, PAGE 68, WAYNE COUNTY RECORDS AND LOTS 1 THROUGH 5, BOTH INCLUSIVE, OF THE PLAT OF E.C. NOBLE'S SUBDIVISION OF LOT 78 AND THE SOUTH HALF OF LOT 79 IN SECTION 6 OF THE GOVERNOR AND JUDGES PLAN OF THE CITY OF DETROIT, ACCORDING TO THE PLAT THEREOF RECORDED IN LIBER 5 OF PLATS, PAGE 61, WAYNE COUNTY RECORDS; ALSO ALL OF THE VACATED PUBLIC ALLEYS ADJOINING THE SAID LOTS AND VACATED LIBRARY AVENUE AND THE 20' WIDE PUBLIC ALLEYS, FARMER STREET (60' WIDE) AND CADILLAC SQUARE (200 FEET WIDE) LYING WITHIN THE BOUNDS OF THE FOLLOWING MORE PARTICULARLY DESCRIBED LAND: BEGINNING AT THE INTERSECTION OF THE NORTH LINE OF CADILLAC SQUARE (200 FEET WIDE) WITH THE EAST LINE OF WOODWARD AVENUE (VARIABLE WIDTH), SAID POINT ALSO BEING THE SOUTHWEST CORNER OF LOT 2 OF THE PLAT OF LOTS 45 & 46, SECTION 6 OF GOVERNOR & JUDGES PLAN; THENCE ALONG SAID EAST LINE, N00"11 '31 "W, FEET TO THE EAST LINE OF MONROE STREET; THENCE ALONG SAID EAST LINE, N29"44'23"E, FEET; THENCE N29"38'56"E, FEET; THENCE N29"46'59"E, FEET TO THE SOUTHWEST LINE OF RANDOLPH STREET AS WIDENED; THENCE ALONG SAID SOUTHWEST LINE S26"14'35"E, FEET TO A POINT ON THE WEST LINE OF BATES STREET (56.50 FEET WIDE); THENCE ALONG SAID WESTLINE, S29"35'13"W, FEET; THENCE S00"06136"E, FEET; THENCE S89"48'29"W, FEET; THENCE S00"06'36"E, FEET TO A POINT ON THE NORTH LINE OF CADILLAC SQUARE; THENCE ALONG SAID NORTH LINE, N89'48'29"E, FEET TO A POINT ON THE WEST LINE OF BATES STREET; THENCE ALONG SAID WEST LINE, S00'06'36"E, FEET; THENCE S89"48'29"W, FEET TO THE EAST LINE OF WOODWARD AVENUE; THENCE ALONG SAID EAST LINE, N00'11'31"W, FEET TO THE POINT OF BEGINNING, AND CONTAINING ACRES OR 211,969 SQUARE FEET.

55 ATTACHMENT B-3: Depiction of the Proposed Unit 2, One Campus Martius Condominium Commencing on the Third Floor

56 ATTACHMENT B-3: Depiction of the Proposed Unit 2, One Campus Martius Condominium Commencing on the Third Floor

57 ATTACHMENT C-1 Transformational Project Description Hudson s Site Project Name: Project Location: Type of Eligible Property: Former Hudson s Department Store Site The Eligible Property is located at 1208 Woodward Avenue, in the Central Business District of Detroit, Wayne County, MI Functionally Obsolete Undeveloped Property That Was Eligible Property in Abolished Plan Total Project Investment: $908,980,541 Eligible Activities: Construction Reimbursable Costs: $188,740,071 (Estimated Eligible Activities) $972,655 (Estimated BRA Administrative Fees) $6,036,994 (Estimated State Redevelopment Fund) (Estimated Local Revolving Fund) Total: $195,749,720 Years to Complete Payback: 30 Years (Tax Increment Revenue) 20 Years (Income Tax Capture Revenue, Withholding Tax Capture Revenue) Base TV/New ITV Estimate:.00 Base TV $66,232,530 ITV (Year 1) Other Anticipated Incentives: Project Overview: Renaissance Zone Neighborhood Enterprise Zone designation Commercial Rehabilitation Act designation Developer intends to redevelop the site of the iconic former Hudson s department store, situated on two parcels bound by East Grand River Avenue to the north, Farmer Street to the east, Gratiot Avenue to the south, and Woodward Avenue to the west (the Property). The Property consists of undeveloped air rights above a four-story, sub-grade parking garage. Prior to demolition in 1998, the Property was the site of the historic Hudson s Department Store. Hudson s was developed in a series of additions beginning in At completion, the building was 2,124,316 square feet in size and 32 stories tall, making it the tallest and second largest department store in the world. After decades of success in

58 Detroit, the department store closed in The building sat largely vacant until being imploded in Developer plans to transform the Property into a world-class attraction and destination consisting of a residential tower that will be the tallest in the City and a podium that combines retail, market, office, conference, event, and exhibition space. The development is contemplated to include extensive programmed public and civic space as well as outdoor greenspace to serve as the same kind of magnet and gathering place that the Hudson s department store was for so many years. Construction is anticipated to commence before the end of The anticipated programming is set forth in the diagram below. All figures are in Gross Square Feet (GSF). The corresponding Rentable Square Feet (RSF) used to derive the withholding tax capture estimates for the Hudson s Site can be found in the TIF Table in Attachment F-2. For the events space only, GSF was used to derive the withholding tax capture estimates as the relevant employment density data was available in GSF. Due to its scale and intended function as an attraction and economic catalyst, the transformation of the Hudson s Site will have significant job creation and economic impact. The Hudson s Site is anticipated to directly create or support 1,007 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 626 new permanent, full-time equivalent jobs in the City in the retail, restaurant, event, and exhibition uses. The spillover effects from visitors are expected to create another 900 jobs.

59 ATTACHMENT C-1: Hudson s Site Plan and Renderings

60 ATTACHMENT C-1: Hudson s Site Plan and Renderings

61 ATTACHMENT C-2 Transformational Project Description Monroe Blocks Project Name: Monroe Blocks Project Location: The Eligible Property is located at 32, 100, 118, and 126 Monroe Avenue, 725 and 815 Bates Street, and 1000 Farmer Street, in the Central Business District of the City of Detroit, Wayne County, MI Type of Eligible Property: A mixture of facility parcels (32 Monroe Avenue and 725 Bates Street), a functionally obsolete parcel (118 Monroe Avenue), and adjacent and contiguous parcels (100 and 126 Monroe, 815 Bates Street, and 1000 Farmer Street). 815 Bates Street and 1000 Farmer Street are also functionally obsolete parcels. Total Project Investment: $830,091,215 Eligible Activities: Construction Reimbursable Costs: $316,130,062 (Estimated Eligible Activities) $800,000 (Estimated BRA Administrative Fees) $9,067,227 (Estimated State Redevelopment Fund) (Estimated Local Revolving Fund) Total: $325,997,289 Years to Complete Payback: 30 Years (Tax Increment Revenue) 20 Years (Income Tax Capture Revenue, Withholding Tax Capture Revenue) Base TV/New ITV Estimate: $567,831 Base TV $94,736,237 ITV (Year 1) Other Anticipated Incentives: Project Overview: Neighborhood Enterprise Zone designation Commercial Rehabilitation Act designation Developer intends to redevelop seven parcels bound by Randolph Street to the north, Bates Street to the east, Cadillac Square to the south, and Monroe Street to the west (the Property). The Property currently consists of surface parking lots, a vacant lot that was the former Bates Garage, the vacant National Theatre building, and two unoccupied commercial structures. Historically, the area consisted of 13 buildings known as the Monroe Avenue Commercial Buildings. The area fell into a state of severe disrepair and decay over several

62 decades, and most of the buildings were demolished in the 1990s. Developer intends to transform the area to create a mixed-use development consisting of office, retail, residential, and public space, while restoring and preserving the National Theatre s iconic façade. The rehabilitation is contemplated to result in five unique mid-rise buildings and two towers organized around three public spaces. The buildings are intended to vary in height from a 7-story residential and retail building to a 35-story office and retail tower. The anticipated programming is set forth in the diagram below. All figures are in GSF. The corresponding RSF used to derive the withholding tax capture estimates for the Monroe Blocks can be found in the TIF Table in Attachment F-3. The project is planned to create 814,000 GSF of office space, 169,000 GSF of retail space, and 482 residential units. It is anticipated that approximately 1,200 parking spaces will be constructed in a below-grade parking area. Construction on Phase I is expected to commence in Spring 2018 and construction on Phase II is expected to commence in Summer In addition to redeveloping long-vacant and contaminated parcels, the Monroe Blocks will have a transformational economic impact. The project is anticipated to directly create or support 2,941 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 800 new permanent, full-time equivalent jobs in the retail and restaurant uses.

63 ATTACHMENT C-2: Monroe Blocks Site Plan and Renderings

64 ATTACHMENT C-2: Monroe Blocks Site Plan and Renderings

65 ATTACHMENT C-2: Monroe Blocks Site Plan, Program Plan, and Renderings

66 ATTACHMENT C-3: Transformational Project Description - One Campus Martius Expansion Project Name: Project Location: Type of Eligible Property: One Campus Martius Expansion Proposed Unit Two of the One Campus Martius Condominium, 1000 Woodward Avenue, Detroit, MI, Undeveloped Property That Was Eligible Property in Abolished Plan Total Project Investment: $94,782,781 Eligible Activities: Construction and alteration Reimbursable Costs: $73,524,024 (Estimated Eligible Activities) $914,341 (Estimated BRA Administrative Fees) $1,341,752 (Estimated State Redevelopment Fund) (Estimated Local Revolving Fund) Total: $75,780,117 Years to Complete Payback: 30 Years (Tax Increment Revenue) 20 Years (Income Tax Capture Revenue, Withholding Tax Capture Revenue) Base TV/New ITV Estimate: Base TV $13,716,781 ITV (Year 1) Project Overview: Developer intends to expand the office building at One Campus Martius to provide much needed Class A office space in Detroit s Central Business District to attract large tenants to downtown Detroit and allow for expansion of existing downtown companies. The current building is bound by Gratiot Avenue to the north, Randolph Street to the east, Monroe Avenue to the south, and Woodward Avenue to the west (the Property). The building is a well-known landmark for the City of Detroit; Quicken Loans, Meridian Health Plan, Plante Moran, and Compuware are its major tenants. While demand for future office tenants to locate in downtown Detroit has increased, including from national tenants, there are few if any large floorplates available for major tenants. The expansion of One Campus Martius allows for a relatively near-term introduction of needed office

67 capacity into the market to grow the City of Detroit s employment and tax base. The Compuware building was designed in two phases and was intended to include an expansion on the undeveloped rear portion. Developer anticipates adding a 310,000 GSF addition to the building in this section, which will be a newly formed condominium unit. The addition will complete the long planned Phase II and provide office and potential auditorium space. The anticipated programming is set forth in the diagram below. All figures are in GSF. The corresponding RSF used to derive the withholding tax capture estimates for the OCM Expansion can be found in the TIF Table in Attachment F-4. The project is intended to continue and accelerate the trend of job growth in the City of Detroit. The OCM Expansion is anticipated to directly create or support 1,155 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 69 new permanent, full-time equivalent jobs in the auditorium and event uses. Construction on the OCM Expansion is anticipated to commence in Winter (Q1) 2018.

68 ATTACHMENT C-3: One Campus Martius Site Plan and Renderings

69 ATTACHMENT C-3: One Campus Martius Site Plan and Renderings

70 ATTACHMENT C-3: One Campus Martius Site Plan and Renderings

71 ATTACHMENT C-4 Transformational Project Description Book Building and Book Tower Project Name: Book Building and Book Tower Project Location: Eligible Property is located at 1201, 1249, and 1265 Washington Boulevard, in the Central Business District of the City of Detroit, Wayne County, MI Type of Eligible Property: Historic Resource (1249 and 1264 Washington); Adjacent and Contiguous (1201 Washington) Total Project Investment: $311,444,245 Eligible Activities: Restoration and renovation Reimbursable Costs: $62,582,813 (Estimated Eligible Activities) $573,265 (Estimated BRA Administrative Fees) $2,359,351 (Estimated State Redevelopment Fund) (Estimated Local Revolving Fund) Total: $65,515,429 Years to Complete Payback: 30 Years (Tax Increment Revenue) 20 Years (Income Tax Capture Revenue, Withholding Tax Capture Revenue) Base TV/New ITV Estimate: $974,739 Base TV $23,584,999 ITV (Year 1) Project Overview: Developer intends to redevelop the historic Book Building and Book Tower, situated at the southwest corner of Grand River Avenue and Washington Boulevard, including the adjacent and contiguous building located at 1201 Washington Blvd (the Property). The Property is located in the Washington Boulevard Historic District. The Book Building was developed in 1917 by the Book Brothers and designed by architect Louis Kamper. Shortly thereafter, in 1926, the Book Tower was added to the Book Building, and at 38-stories tall, it was recorded as the tallest building in Detroit at the time. Designed in the style of Academic Classicism, the Book Tower s façade is composed of Corinthian columns, caryatids, corbels, florets, scrolls, crests, and bands of Italian Renaissance ornamentation. The Book Tower and the

72 Book Building were added to the National Register of Historic Places in The iconic structure been largely vacant for the past 20 years. Prior to acquisition by Developer, the Property fell into a state of severe disrepair. Developer intends to compete a comprehensive restoration and renovation of the Book Building and Book Tower to create a mixed-use development composed of residential, hotel, office, event, and retail space while restoring and preserving the building s façades. The rehabilitated building and tower will retain their original heights of 13-stories and 38-stories, respectively. The anticipated programming is set forth in the diagram below. All figures are in GSF. The corresponding RSF used to derive the withholding tax capture estimates for the Book Building and Book Tower can be found in the TIF Table in Attachment F-5. The project is anticipated to create 28,890 GSF of first floor retail space; 49,780 GSF of conference and event space on floors 2-3; 106,000 GSF of office space on floors 4-8; an estimated 200 hotel rooms also occupying 106,000 GSF on floors 9-13; and 95 residential units on floors The top two floors of the Book Tower are mechanical. In order to provide the parking necessary for the redevelopment to be viable, a new 400-space parking structure is planned to be constructed to the south of the Book Building on the adjoining parcel at 1201 Washington Boulevard. In addition to restoring and rehabilitating one of the City of Detroit s most iconic historic structures, the redevelopment of the Book Building and Book Tower is anticipated to directly create or support 334 new permanent, full-time equivalent office jobs in the City at a projected wage of $85,000 as well as 329 new permanent, full-time equivalent jobs in the retail, restaurant, and event uses. The full renovation is anticipated to commence in Winter (Q1) 2019.

73 ATTACHMENT C-4: Book Building and Book Tower Site Plan and Renderings

74 ATTACHMENT D Signed Affidavits for Functional Obsolescence; Documentation of Historic Resource

75

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77

78

79 ATTACHMENT E ESTIMATED COST OF ELIGIBLE ACTIVITIES Developer is requesting reimbursement for only a portion of the cost of eligible activities. All eligible activities as defined under Section 2(o)(iv) of Act 381, however, will be eligible for the applicable exemptions under 2017 PA 48 (sales tax on construction materials used in transformational brownfield plans) and 2017 PA 49 (use tax on construction materials used in transformational brownfield plans) in accordance with such acts and Act 381.

80 ATTACHMENT E-1: TRANSFORMATIONAL BROWNFIELD PLAN ALL PROJECTS Estimated Cost for Which TBP Eligible Activities Reimbursement is Being Requested New Construction $502,951,441 Demolition Restoration/Alteration/Renovation $54,419,837 Site Improvements Infrastructure Improvements MSF Activities Contingency (15%) $83,605,692 SUBTOTAL SITE ELIGIBLE ACTIVITIES $640,976,970 DBRA Administrative Costs $3,260,262 State Brownfield Redevelopment Fund $18,805,324 Local Brownfield Revolving Fund TOTAL ESTIMATED COST TO BE FUNDED THROUGH TIF $663,042,556

81 ATTACHMENT E-2: HUDSON S SITE Estimated Cost for Which TBP Eligible Activities Reimbursement is Being Requested New Construction $164,121,801 Demolition Restoration/Alteration/Renovation Site Improvements Infrastructure Improvements MSF Activities Contingency (15%) $24,618,270 SUBTOTAL SITE ELIGIBLE ACTIVITIES $188,740,071 DBRA Administrative Costs $972,655 State Brownfield Redevelopment Fund $6,036,994 Local Brownfield Revolving Fund TOTAL ESTIMATED COST TO BE FUNDED THROUGH TIF $195,749,720

82 ATTACHMENT E-3: MONROE BLOCKS Estimated Cost for Which TBP Eligible Activities Reimbursement is Being Requested New Construction $274,895,706 Demolition Restoration/Alteration/Renovation Site Improvements Infrastructure Improvements MSF Activities Contingency (15%) $41,234,356 SUBTOTAL SITE ELIGIBLE ACTIVITIES $316,130,062 DBRA Administrative Costs $800,000 State Brownfield Redevelopment Fund $9,067,227 Local Brownfield Revolving Fund TOTAL ESTIMATED COST TO BE FUNDED THROUGH TIF $325,997,289

83 ATTACHMENT E-4: ONE CAMPUS MARTIUS EXPANSION Estimated Cost for Which TBP Eligible Activities Reimbursement is Being Requested New Construction $63,933,934 Demolition Restoration/Alteration/Renovation Site Improvements Infrastructure Improvements MSF Activities Contingency (15%) $9,590,090 SUBTOTAL SITE ELIGIBLE ACTIVITIES $73,524,024 DBRA Administrative Costs $914,341 State Brownfield Redevelopment Fund $1,341,752 Local Brownfield Revolving Fund TOTAL ESTIMATED COST TO BE FUNDED THROUGH TIF $75,780,117

84 ATTACHMENT E-5: BOOK BUILDING AND BOOK TOWER New Construction TBP Eligible Activities Estimated Cost for Which Reimbursement is Being Requested Demolition Restoration/Alteration/Renovation $54,419,837 Site Improvements Infrastructure Improvements MSF Activities Contingency (15%) $8,162,976 SUBTOTAL SITE ELIGIBLE ACTIVITIES $62,582,813 DBRA Administrative Costs $573,265 State Brownfield Redevelopment Fund $2,359,351 Local Brownfield Revolving Fund TOTAL ESTIMATED COST TO BE FUNDED THROUGH TIF $65,515,429

85 ATTACHMENT F

86 B D E F G H I J K L M N O P Q R S T U V W X Y Attachment F1 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue All Projects Consolidated Tax Year Initial Taxable Value*** Inflation: 2017 $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542, $1,542,570 9 Total Taxable Value*** 3.00% $1,542,570 $1,566,114 $11,137,767 $25,182,984 $48,936,815 $114,065,373 $201,035,781 $204,282,305 $209,917,545 $215,074,842 $223,046,003 $229,392,125 $233,667,471 $239,293,963 $245,992,245 $256,960,286 $263,843,601 $269,639,258 $276,613,041 $283,581,552 $295,779, Captured Taxable Value 3.00% $23,544 $9,595,197 $23,640,414 $47,394,245 $112,522,803 $199,493,211 $202,739,735 $208,374,975 $213,532,272 $221,503,433 $227,849,555 $232,124,901 $237,751,393 $244,449,675 $255,417,716 $262,301,031 $268,096,688 $275,070,471 $282,038,982 $294,237, Building Land Personal Property Total Captured Taxable Value $1,861 $21,684 $23,544 $7,749 $9,587,449 $9,595,197 $11,044,949 $9,909,820 $2,685,645 $23,640,414 $33,499,616 $10,241,862 $3,652,766 $47,394,245 $88,843,159 $10,583,865 $13,095,779 $112,522,803 $173,233,512 $10,936,129 $15,323,570 $199,493,211 $178,442,047 $11,298,961 $12,998,727 $202,739,735 $183,806,838 $11,672,677 $12,895,460 $208,374,975 $189,332,572 $12,057,605 $12,142,095 $213,532,272 $195,024,079 $12,454,081 $14,025,273 $221,503,433 $200,886,331 $12,862,451 $14,100,774 $227,849,555 $206,924,450 $13,283,072 $11,917,379 $232,124,901 $213,143,713 $13,716,311 $10,891,368 $237,751,393 $219,549,554 $14,162,548 $10,737,573 $244,449,675 $226,147,570 $14,622,172 $14,647,973 $255,417,716 $232,943,527 $15,095,585 $14,261,919 $262,301,031 $239,943,362 $15,583,200 $12,570,125 $268,096,688 $247,153,193 $16,085,444 $11,831,835 $275,070,471 $254,579,318 $16,602,755 $10,856,909 $282,038,982 $262,228,227 $17,135,585 $14,873,284 $294,237, Taxes Captured by DDA prior to capture period, then Brownfield Authority during capture period** Millage**** School Operating $424 $94,261 $312,494 $627,984 $1,544,282 $1,792,257 $2,005,695 $2,242,597 $2,486,240 $2,570,676 $2,646,460 $2,710,950 $2,784,712 $2,866,105 $2,974,353 $3,059,366 $3,139,164 $3,227,382 $3,470,339 $3,811,158 State Education Tax $141 $31,420 $114,907 $223,939 $567,144 $648,429 $714,729 $796,711 $877,315 $912,993 $938,556 $951,319 $971,803 $998,319 $1,050,043 $1,076,836 $1,096,668 $1,123,121 $1,200,207 $1,329,879 Wayne County ISD (RESA) $82 $18,142 $66,345 $71,521 $106,134 $111,077 $113,384 $122,825 $129,466 $138,732 $141,819 $137,164 $136,606 $139,160 $373,324 $621,747 $633,198 $648,471 $692,980 $767,850 Wayne County Special RESA ENH $47 $19,190 $47,281 $50,538 $70,798 $76,627 $73,427 $74,712 $74,743 $80,093 $81,874 $79,187 $78,865 $80,340 $215,526 $358,945 $365,556 $374,374 $400,069 $443,293 Total $694 $163,013 $541,027 $973,981 $2,288,359 $2,628,390 $2,907,235 $3,236,846 $3,567,764 $3,702,494 $3,808,709 $3,878,621 $3,971,987 $4,083,924 $4,613,247 $5,116,895 $5,234,587 $5,373,348 $5,763,596 $6,352,180 Taxes Remitted to Wayne County prior to capture period, then captured by Brownfield Authority during capture period** Wayne County Operating-Winter $23 $5,183 $18,954 $20,432 $30,321 $31,733 $32,392 $35,089 $36,987 $39,634 $40,515 $39,186 $39,026 $39,756 $106,653 $177,624 $180,895 $185,259 $197,974 $219,364 Wayne County Parks-Winter $6 $1,288 $4,709 $5,077 $7,534 $7,884 $8,048 $8,718 $9,190 $9,847 $10,066 $9,736 $9,696 $9,878 $26,499 $44,132 $44,945 $46,029 $49,189 $54,503 Wayne County Jail-Winter $22 $4,913 $17,966 $19,367 $28,740 $30,079 $30,703 $33,260 $35,058 $37,567 $38,403 $37,143 $36,992 $37,683 $101,093 $168,363 $171,464 $175,600 $187,652 $207,927 Total $51 $11,383 $41,629 $44,876 $66,595 $69,696 $71,144 $77,067 $81,234 $87,049 $88,985 $86,065 $85,715 $87,317 $234,245 $390,120 $397,305 $406,888 $434,815 $481,793 Taxes Captured by DDA City Operating $470 $104,483 $382,105 $411,910 $611,261 $639,728 $653,016 $707,388 $745,635 $799,003 $816,778 $789,971 $786,759 $801,468 $2,150,092 $3,580,840 $3,646,788 $3,734,752 $3,991,090 $4,422,291 Library $109 $24,250 $88,683 $95,601 $141,869 $148,476 $151,560 $164,179 $173,056 $185,442 $189,568 $183,346 $182,601 $186,014 $499,019 $831,084 $846,390 $866,806 $926,300 $1,026,378 Wayne County Operating-Summer $133 $29,579 $108,172 $116,610 $173,045 $181,104 $184,865 $200,258 $211,085 $226,193 $231,225 $223,636 $222,727 $226,891 $608,679 $1,013,716 $1,032,385 $1,057,288 $1,129,855 $1,251,926 Huron Clinton Metropolitan Authority (HCMA) $5 $1,124 $4,110 $4,430 $6,575 $6,881 $7,024 $7,609 $8,020 $8,594 $8,785 $8,497 $8,462 $8,620 $23,126 $38,515 $39,224 $40,170 $42,927 $47,565 Wayne County Community College $76 $16,971 $62,065 $66,907 $99,287 $101,133 $101,345 $109,061 $113,348 $123,946 $123,545 $119,460 $120,823 $124,991 $343,972 $571,577 $584,485 $598,753 $642,391 $714,015 City Debt $223 $90,829 $223,783 $239,199 $335,092 $362,681 $347,532 $353,618 $353,762 $379,082 $387,515 $374,797 $373,273 $380,251 $1,020,098 $1,698,907 $1,730,196 $1,771,930 $1,893,547 $2,098,128 School Debt $306 $124,738 $307,325 $328,497 $460,189 $498,078 $477,273 $485,631 $485,829 $520,601 $532,183 $514,717 $512,624 $522,207 $1,400,922 $2,333,145 $2,376,115 $2,433,429 $2,600,449 $2,881,404 Total $1,322 $391,973 $1,176,243 $1,263,153 $1,827,318 $1,938,082 $1,922,616 $2,027,743 $2,090,735 $2,242,862 $2,289,599 $2,214,424 $2,207,270 $2,250,443 $6,045,908 $10,067,783 $10,255,584 $10,503,128 $11,226,561 $12,441,708 Non-Capturable Millages DIA Tax $5 $1,047 $3,830 $4,129 $6,127 $6,413 $6,546 $7,091 $7,474 $8,009 $8,187 $7,919 $7,887 $8,034 $21,553 $35,895 $36,556 $37,437 $40,007 $44,329 Zoo Tax $2 $524 $1,915 $2,065 $3,064 $3,206 $3,273 $3,545 $3,737 $4,005 $4,094 $3,959 $3,943 $4,017 $10,776 $17,947 $18,278 $18,719 $20,003 $22,165 Total $7 $1,571 $5,745 $6,194 $9,191 $9,619 $9,819 $10,636 $11,211 $12,014 $12,281 $11,878 $11,830 $12,051 $32,329 $53,842 $54,833 $56,156 $60,010 $66,494 Total Mills NEZ Specific Tax - Total* $201,838 $1,098,038 $1,261,316 $1,433,399 $1,614,669 $1,663,204 $1,713,194 $1,764,685 $1,817,720 $1,872,347 $1,928,612 $2,591,873 $3,254,268 $6,922,681 $6,694,446 $6,142,526 NEZ Specific Tax Capture - schools 27.24% $54,990 $259,415 $316,352 $376,471 $439,912 $453,135 $466,755 $480,783 $495,233 $510,115 $525,445 $728,261 $932,647 $2,109,207 $1,968,106 $1,742,174 NEZ Specific Tax Capture - non-schools 8.67% $17,501 $94,483 $108,867 $124,029 $140,002 $144,210 $148,545 $153,009 $157,608 $162,344 $167,223 $225,417 $283,592 $607,155 $584,920 $534,723 Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes Total Captured Incremental Taxes $82,301 $214,674 $296,975 $29,816 $74,953 $104,769 $401,744 $190,702 $528,272 $718,974 $32,835 $82,541 $115,376 $834,350 $192,264 $540,290 $732,553 $32,301 $81,198 $113,499 $846,053 $713,282 $1,986,818 $2,700,101 $93,192 $258,692 $351,884 $3,051,985 $793,817 $2,242,958 $3,036,776 $99,796 $267,026 $366,822 $3,403,598 $890,829 $2,524,951 $3,415,780 $111,165 $287,469 $398,634 $3,814,414 $987,293 $2,816,174 $3,803,467 $121,078 $304,368 $425,445 $4,228,912 $1,026,277 $2,910,527 $3,936,804 $128,089 $321,994 $450,084 $4,386,887 $1,055,245 $2,996,526 $4,051,771 $131,259 $329,963 $461,223 $4,512,993 $1,071,515 $3,071,537 $4,143,053 $129,610 $325,816 $455,425 $4,598,478 $1,095,611 $3,156,137 $4,251,748 $130,568 $328,226 $458,794 $4,710,542 $1,125,848 $3,248,692 $4,374,540 $133,519 $335,642 $469,161 $4,843,701 $1,181,404 $3,368,437 $4,549,841 $281,835 $708,483 $990,318 $5,540,159 $1,258,902 $3,605,562 $4,864,463 $454,271 $1,141,958 $1,596,229 $6,460,693 $1,329,830 $3,838,649 $5,168,480 $471,673 $1,207,977 $1,679,651 $6,848,131 $1,650,423 $4,809,286 $6,459,709 $557,420 $1,479,467 $2,036,888 $8,496,597 $1,692,234 $4,946,419 $6,638,653 $586,740 $1,526,044 $2,112,784 $8,751,436 $1,765,423 $5,117,788 $6,883,211 $627,637 $1,600,022 $2,227,659 $9,110, DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund 112 Adjusted Captured Non-School Taxes (Wayne Co $60,262 $41,150 $100,000 $95,351 $100,000 $96,132 $100,000 $356,641 $100,000 $396,909 $100,000 $445,415 $100,000 $493,647 $100,000 $513,138 $100,000 $527,623 $100,000 $535,758 $100,000 $547,806 $100,000 $562,924 $100,000 $590,702 $100,000 $629,451 $100,000 $664,915 $100,000 $825,211 $100,000 $846,117 $100,000 $882, Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 117 Adjusted Total Incremental Taxes 124 $12,666 $31,841 $41,150 $214,674 $300,332 $4,376 $11,000 $95,351 $528,272 $638,999 $3,842 $9,657 $96,132 $540,290 $649,921 $66,611 $185,273 $356,641 $1,986,818 $2,595,343 $72,223 $194,599 $396,909 $2,242,958 $2,906,689 $83,048 $215,585 $445,415 $2,524,951 $3,268,999 $92,618 $232,827 $493,647 $2,816,174 $3,635,266 $99,630 $250,453 $513,138 $2,910,527 $3,773,749 $102,800 $258,422 $527,623 $2,996,526 $3,885,371 $101,150 $254,275 $535,758 $3,071,537 $3,962,720 $102,109 $256,685 $547,806 $3,156,137 $4,062,736 $105,060 $264,101 $562,924 $3,248,692 $4,180,777 $253,376 $636,942 $590,702 $3,368,437 $4,849,457 $425,812 $1,070,417 $629,451 $3,605,562 $5,731,242 $443,214 $1,136,436 $664,915 $3,838,649 $6,083,215 $528,961 $1,407,926 $825,211 $4,809,286 $7,571,386 $558,281 $1,454,503 $846,117 $4,946,419 $7,805,319 $599,178 $1,528,482 $882,711 $5,117,788 $8,128, Reimbursed MSF Expenses School Taxes Non-school Taxes 129 Unreimbursed MSF Expenses 131 $263,992,145 $263,992,145 $263,992,145 $300,332 $255,825 $44,507 $263,691,813 $638,999 $623,623 $15,376 $263,052,814 $649,921 $636,422 $13,499 $262,402,893 $2,595,343 $2,343,459 $251,884 $259,807,549 $2,906,689 $2,639,867 $266,822 $256,900,861 $3,268,999 $2,970,365 $298,634 $253,631,862 $3,635,266 $3,309,820 $325,445 $249,996,596 $3,773,749 $3,423,665 $350,084 $246,222,847 $3,885,371 $3,524,148 $361,223 $242,337,476 $3,962,720 $3,607,295 $355,425 $238,374,756 $4,062,736 $3,703,942 $358,794 $234,312,020 $4,180,777 $3,811,616 $369,161 $230,131,243 $4,849,457 $3,959,139 $890,318 $225,281,786 $5,731,242 $4,235,012 $1,496,229 $219,550,544 $6,083,215 $4,503,565 $1,579,651 $213,467,328 $7,571,386 $5,634,498 $1,936,888 $205,895,943 $7,805,319 $5,792,536 $2,012,784 $198,090,623 $8,128,159 $6,000,500 $2,127,659 $189,962,464 3 Adjusted for State 134 Brownfield 4 Brownfield plan eligible expense ratio 5 Tax ratio (weighted average) 1 Annual DBRA administrative fee calculated at the Redevelopment Fund. 25 Local Site Remediation Revolving Fund (LSRRF) school/local 135 lesser of 15% of total captured incremental taxes or years maximum. MDEQ 0.00% School Tax 77.10% Eligible activity school/local reimbursement breakdown reimbursement breakdown 136 $100,000 annually MSF $263,992, % Non-school Tax 22.90% TOTAL SCHOOL LOCAL TOTAL SCHOOL LOCAL 137 TOTAL $263,992,145 MDEQ MEGA #REF! #REF! 138 MSF $263,992,145 $203,550,345 $60,441,800 MEGA MEDQschool taxes -$20,939,096 are not eligible for -$16,145,026 deposit into the revolving -$4,794,069 fund. 2 Adjusted for DBRA administrative fee-which is taken 5 School Taxes, for eligible activity reimbursement, are capped at the amount that would be paid MDEQ school taxes are eligible but are capped at the amount of school tax 139 from non-school taxes only. 141 for the eligible expenses--using tax ratio applicable to each particular year. capture approved for eligible activity reimbursement. 142 *NEZ Specific Tax for a new facility is equal to 50% of average rate of taxation levied upon commercial property upon which ad valorem taxes are assessed as determined for the immediately preceding year by the state board of assessors under section 13 of 1905 PA 282, MCL which for 2017 was = Years of the abatement have special phase out calculations where 5/8, 3/4 and 7/8 of operating mills and 100% of remaining mills a NEZ Specific Tax for a rehabilitated facility for the first 12 years of the abatement period is equal to the taxable value of the rehabilitated facility (excluding land) as of December 31 of the year preceding the year of substantial completion multiplied by the total mills collected under the general property tax act. Years of the abatement have special phase out calculations where 5/8, 3/4 and 7/8 of operating mills and 100% of remaining mills are paid on the current taxable value. In addition, a portion of the NEZ Specific Tax is exempt, while the Renaissance Zone is in effect (subject to phase out over the last 3 years), based on the ratio of non-debt millage to the total millage 168 **See individual project tables for information related to each project's applicable capture period. 169 ***Includes all four projects for Thereafter, only includes projects permitted to capture under the plan excludes OCM, while exclude both OCM and Book Tower. 170 ****Includes all taxes other than NEZ specific tax which is calculated separately in the following section. 171 Note: This schedule assumes that the property tax abatements will be requested and approved as presented 172 This schedule Includes approximately combined mills from county winter, jail and parks millage not captured by the City of Detroit DDA and therefore required to be captured during the capture period pursuant to MCL (2)(c).

87 B D Attachment F1 to DBRA Transformational Brownfield Plan (B Estimated Tax Increment Revenue All Projects Consolidated Tax Year 5 8 Initial Taxable Value*** Inflation: 9 Total Taxable Value*** 3.00% 10 Captured Taxable Value 3.00% Building Land Personal Property Total Captured Taxable Value 15 Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AN AO $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $1,542,570 $567,831 $567,831 $303,943,361 $309,842,025 $318,850,090 $327,639,829 $339,836,190 $350,090,966 $357,928,174 $367,055,323 $378,060,603 $392,323,704 $402,829,604 $413,018,356 $395,037,305 $346,997,267 $355,630,396 $302,400,791 $308,299,455 $317,307,520 $326,097,259 $338,293,620 $348,548,396 $356,385,604 $365,512,753 $376,518,033 $390,781,134 $401,287,034 $411,475,786 $393,494,735 $346,429,436 $355,062,565 $270,106,603 $278,221,331 $286,579,500 $295,188,415 $304,055,597 $313,188,794 $322,595,988 $332,285,397 $342,265,488 $352,544,982 $363,132,861 $374,038,377 $358,495,594 $315,198,544 $324,658,472 $17,684,400 $18,249,680 $18,831,918 $19,431,623 $20,049,319 $20,685,546 $21,340,860 $22,015,834 $22,711,056 $23,427,136 $24,164,697 $24,924,386 $25,706,865 $25,261,023 $26,031,918 $14,609,788 $11,828,444 $11,896,102 $11,477,221 $14,188,704 $14,674,055 $12,448,756 $11,211,523 $11,541,489 $14,809,016 $13,989,476 $12,513,024 $9,292,276 $5,969,868 $4,372,175 $302,400,791 $308,299,455 $317,307,520 $326,097,259 $338,293,620 $348,548,396 $356,385,604 $365,512,753 $376,518,033 $390,781,134 $401,287,034 $411,475,786 $393,494,735 $346,429,436 $355,062,565 TOTALS Taxes Captured by DDA prior to capture period, then Brownfield Authority during capture period** Millage**** School Operating State Education Tax Wayne County ISD (RESA) Wayne County Special RESA ENH Total Taxes Remitted to Wayne County prior to capture period, then captured by Brownfield Authority during capture period** Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total Non-Capturable Millages DIA Tax Zoo Tax Total Total Mills NEZ Specific Tax - Total* NEZ Specific Tax Capture - schools 27.24% NEZ Specific Tax Capture - non-schools 8.67% Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes Total Captured Incremental Taxes DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund Adjusted Captured Non-School Taxes (Wayne Co 113 Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 117 Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes 129 Unreimbursed MSF Expenses 131 $5,267,897 $5,407,449 $5,568,782 $5,732,024 $5,919,021 $6,097,782 $6,265,556 $6,444,691 $6,638,827 $6,856,352 $7,055,293 $7,256,408 $6,971,398 $6,164,091 $6,338,660 $138,351,130 $1,814,405 $1,849,797 $1,903,845 $1,956,584 $2,029,762 $2,091,290 $2,138,314 $2,193,077 $2,259,108 $2,344,687 $2,407,722 $2,468,855 $2,360,968 $2,078,577 $2,130,375 $47,651,847 $1,047,607 $1,068,042 $1,099,248 $1,129,699 $1,171,951 $1,207,476 $1,234,627 $1,266,246 $1,304,371 $1,353,783 $1,390,179 $1,425,476 $1,363,184 $1,200,135 $1,230,043 $23,662,095 $604,802 $616,599 $634,615 $652,195 $676,587 $697,097 $712,771 $731,026 $753,036 $781,562 $802,574 $822,952 $786,989 $692,859 $710,125 $13,721,275 $8,734,710 $8,941,886 $9,206,491 $9,470,501 $9,797,320 $10,093,646 $10,351,267 $10,635,039 $10,955,342 $11,336,384 $11,655,768 $11,973,690 $11,482,540 $10,135,662 $10,409,204 $223,386,346 $299,286 $305,124 $314,039 $322,738 $334,809 $344,958 $352,715 $361,748 $372,640 $386,756 $397,154 $407,238 $389,442 $342,861 $351,405 $6,759,915 $74,360 $75,811 $78,026 $80,187 $83,186 $85,708 $87,635 $89,880 $92,586 $96,093 $98,676 $101,182 $96,760 $85,187 $87,310 $1,679,563 $283,682 $289,216 $297,666 $305,912 $317,353 $326,973 $334,325 $342,888 $353,212 $366,592 $376,447 $386,005 $369,137 $324,985 $333,084 $6,407,474 $657,329 $670,151 $689,731 $708,838 $735,349 $757,640 $774,675 $794,515 $818,437 $849,441 $872,278 $894,425 $855,340 $753,034 $771,799 $14,846,952 $6,033,501 $6,151,191 $6,330,920 $6,506,293 $6,749,634 $6,954,238 $7,110,606 $7,292,710 $7,512,288 $7,796,865 $8,006,479 $8,209,765 $7,851,007 $6,911,960 $7,084,208 $136,277,492 $1,400,327 $1,427,642 $1,469,356 $1,510,059 $1,566,536 $1,614,023 $1,650,315 $1,692,580 $1,743,542 $1,809,590 $1,858,240 $1,905,421 $1,822,156 $1,604,211 $1,644,188 $31,628,919 $1,708,050 $1,741,368 $1,792,248 $1,841,895 $1,910,784 $1,968,706 $2,012,973 $2,064,526 $2,126,687 $2,207,249 $2,266,590 $2,324,139 $2,222,576 $1,956,737 $2,005,500 $38,579,398 $64,895 $66,161 $68,094 $69,980 $72,598 $74,798 $76,480 $78,439 $80,801 $83,862 $86,116 $88,303 $84,444 $74,344 $76,196 $1,465,775 $969,515 $990,862 $1,021,827 $1,050,131 $1,091,470 $1,120,449 $1,145,895 $1,177,476 $1,214,913 $1,260,768 $1,290,790 $1,325,810 $1,267,355 $1,116,828 $1,146,390 $21,928,630 $2,862,556 $2,918,393 $3,003,665 $3,086,869 $3,202,321 $3,299,394 $3,373,582 $3,459,980 $3,564,157 $3,699,173 $3,798,623 $3,895,071 $3,724,861 $3,279,336 $3,361,058 $64,943,481 $3,931,210 $4,007,893 $4,124,998 $4,239,264 $4,397,817 $4,531,129 $4,633,013 $4,751,666 $4,894,734 $5,080,155 $5,216,731 $5,349,185 $5,115,432 $4,503,583 $4,615,813 $89,188,288 $16,970,055 $17,303,510 $17,811,107 $18,304,491 $18,991,161 $19,562,737 $20,002,863 $20,517,377 $21,137,123 $21,937,662 $22,523,569 $23,097,693 $22,087,831 $19,446,998 $19,933,354 $384,011,983 $60,480 $61,660 $63,462 $65,219 $67,659 $69,710 $71,277 $73,103 $75,304 $78,156 $80,257 $82,295 $78,699 $69,286 $71,013 $1,366,053 $30,240 $30,830 $31,731 $32,610 $33,829 $34,855 $35,639 $36,551 $37,652 $39,078 $40,129 $41,148 $39,349 $34,643 $35,506 $683,027 $90,720 $92,490 $95,192 $97,829 $101,488 $104,565 $106,916 $109,654 $112,955 $117,234 $120,386 $123,443 $118,048 $103,929 $106,519 $2,049, $41,974, $11,859, $3,653,627 $1,814,405 $1,849,797 $1,903,845 $1,956,584 $2,029,762 $2,091,290 $2,138,314 $2,193,077 $2,259,108 $2,344,687 $2,407,722 $2,468,855 $2,360,968 $2,078,577 $2,130,375 $50,130,564 $5,267,897 $5,407,449 $5,568,782 $5,732,024 $5,919,021 $6,097,782 $6,265,556 $6,444,691 $6,638,827 $6,856,352 $7,055,293 $7,256,408 $6,971,398 $6,164,091 $6,338,660 $145,907,929 $7,082,302 $7,257,246 $7,472,627 $7,688,608 $7,948,782 $8,189,073 $8,403,869 $8,637,768 $8,897,935 $9,201,039 $9,463,015 $9,725,263 $9,332,366 $8,242,668 $8,469,035 $196,038,493 $657,329 $670,151 $689,731 $708,838 $735,349 $757,640 $774,675 $794,515 $818,437 $849,441 $872,278 $894,425 $855,340 $753,034 $771,799 $15,755,784 $1,652,409 $1,684,641 $1,733,863 $1,781,893 $1,848,538 $1,904,573 $1,947,398 $1,997,271 $2,057,407 $2,135,345 $2,192,753 $2,248,427 $2,150,173 $1,892,994 $1,940,168 $39,829,696 $2,309,737 $2,354,791 $2,423,595 $2,490,731 $2,583,887 $2,662,213 $2,722,073 $2,791,786 $2,875,845 $2,984,786 $3,065,030 $3,142,852 $3,005,513 $2,646,028 $2,711,968 $55,585,480 $9,392,039 $9,612,037 $9,896,222 $10,179,338 $10,532,669 $10,851,285 $11,125,943 $11,429,554 $11,773,780 $12,185,825 $12,528,045 $12,868,115 $12,337,879 $10,888,696 $11,181,003 $251,623,973 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $3,260,262 $907,202 $924,898 $951,923 $978,292 $1,014,881 $1,045,645 $1,069,157 $1,020,213 $901,859 $939,655 $18,805,324 $628,870 $641,692 $661,272 $680,379 $706,890 $729,181 $746,216 $766,056 $789,978 $820,982 $843,819 $865,966 $826,880 $724,575 $743,340 $14,831,052 $1,580,868 $1,613,100 $1,662,323 $1,710,352 $1,776,997 $1,833,032 $1,875,857 $1,925,730 $1,985,867 $2,063,804 $2,121,212 $2,176,886 $2,078,632 $1,821,453 $1,868,627 $37,494,166 $907,202 $924,898 $951,923 $978,292 $1,014,881 $1,045,645 $1,069,157 $1,172,864 $1,357,249 $1,405,032 $2,407,722 $2,468,855 $2,360,968 $2,078,577 $2,130,375 $31,325,239 $5,267,897 $5,407,449 $5,568,782 $5,732,024 $5,919,021 $6,097,782 $6,265,556 $6,444,691 $6,638,827 $6,856,352 $7,055,293 $7,256,408 $6,971,398 $6,164,091 $6,338,660 $145,907,929 $8,384,836 $8,587,138 $8,844,300 $9,101,047 $9,417,788 $9,705,640 $9,956,786 $10,309,342 $10,771,920 $11,146,170 $12,428,045 $12,768,115 $12,237,879 $10,788,696 $11,081,003 $229,558,387 $8,384,836 $8,587,138 $8,844,300 $9,101,047 $9,417,788 $9,705,640 $9,956,786 $10,309,342 $10,771,920 $11,146,170 $12,428,045 $12,768,115 $12,237,879 $10,788,696 $11,081,003 $229,558,387 $6,175,099 $6,332,347 $6,520,705 $6,710,316 $6,933,902 $7,143,428 $7,334,713 $7,617,555 $7,996,076 $8,261,384 $9,463,015 $9,725,263 $9,332,366 $8,242,668 $8,469,035 $177,233,169 $2,209,737 $2,254,791 $2,323,595 $2,390,731 $2,483,887 $2,562,213 $2,622,073 $2,691,786 $2,775,845 $2,884,786 $2,965,030 $3,042,852 $2,905,513 $2,546,028 $2,611,968 $52,325,218 $181,577,628 $172,990,490 $164,146,190 $155,045,143 $145,627,355 $135,921,715 $125,964,929 $115,655,587 $104,883,667 $93,737,497 $81,309,451 $68,541,337 $56,303,457 $45,514,761 $34,433,758

88 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE Attachment F1 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue All Projects Tax Capture from Property Taxes (from previous page) $ - $ - $ - $ 300,332 $ 638,999 $ 649,921 $ 2,595,343 $ 2,906,689 $ 3,268,999 $ 3,635,266 $ 3,773,749 $ 3,885,371 $ 3,962,720 $ 4,062,736 $ 4,180,777 $ 4,849,457 $ 5,731,242 $ 6,083,215 $ 7,571,386 $ 7,805,319 $ 8,128,159 $ 8,384,836 $ 8,587,138 $ 8,844,300 Construction Sales/Use Tax Exemption $ 778,500 $ 12,883,521 $ 17,659,890 $ 16,764,102 $ 9,407,711 $ 3,154,164 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 1,684,663,572 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues $ 233,299 $ 3,860,911 $ 5,292,285 $ 5,023,837 $ 2,819,287 $ 945,234 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 1,684,663,572 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space $ - $ - $ - $ 1,837,037 $ 2,655,270 $ 2,817,342 $ 10,602,629 $ 10,927,360 $ 11,145,907 $ 11,368,826 $ 11,596,202 $ 11,828,126 $ 12,064,689 $ 12,305,982 $ 12,552,102 $ 12,803,144 $ 13,059,207 $ 13,320,391 $ 13,586,799 $ 13,858,535 $ 14,135,706 $ 14,418,420 $ 14,706,788 $ 12,075,687 Rental Square Footage (SF) 132,360 1,245,298 71, , ,458 77,881 SF per Employee ,277 Employees 808 6, Avg. Salary $ 25,522 $ 85,000 $ 23,733 $ 24, $ 44,848 Salary Incr. 2.00% 2.00% 0.00% 2.00% 0.00% 0.00% State Income Tax Rate 4.25% 4.25% 4.25% 4.25% 4.25% 0.00% % of Wages Subject to Withholding 87.06% 82.06% 87.06% 87.06% 87.06% 0.00% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ Absorption/Vacancy Pre-lease 50% 50% 50% 50% 50% Stabilized occupancy 95% - 100% 90% 95% 100% 100% Lease up (months) Income Tax Capture Revenues (State) $ - $ - $ - $ - $ 197,772 $ 246,967 $ 2,328,313 $ 2,619,805 $ 2,428,569 $ 2,228,637 $ 2,273,209 $ 2,318,673 $ 2,365,047 $ 2,412,348 $ 2,460,595 $ 2,509,807 $ 2,560,003 $ 2,611,203 $ 2,663,427 $ 2,716,696 $ 2,771,029 $ 2,826,450 $ 2,882,979 $ 2,940,639 # of Units 907 Rentable Square Footage (SF) 810,566 Total Projected Annual Potential Residential Rent $ 29,976,201 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 114,264,482 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 292,800 1st year of operations Absorption/Vacancy Pre-lease 25.00% Stabilized occupancy 95.00% Lease up (months) Income Tax Capture Revenues (City) $ - $ - $ - $ - $ - $ 233,166 $ 613,837 $ 538,702 $ 274,738 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption $ 1,011,799 $ 16,744,433 $ 22,952,175 $ 23,925,308 $ 15,719,040 $ 8,046,795 $ 16,140,123 $ 16,992,557 $ 17,118,214 $ 17,232,728 $ 17,643,160 $ 18,032,171 $ 18,392,456 $ 18,781,067 $ 19,193,474 $ 20,162,408 $ 21,350,452 $ 22,014,810 $ 23,821,612 $ 24,380,550 $ 25,034,894 $ 25,629,706 $ 26,176,906 $ 23,860,625

89 A B C D E F G Attachment F1 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue All Projects Tax Capture from Property Taxes (from previous page) Construction Sales/Use Tax Exemption Hard Costs (HC) $ 1,684,663,572 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues Hard Costs (HC) $ 1,684,663,572 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Income Tax Capture Revenues (State) # of Units 907 Rentable Square Footage (SF) 810,566 Total Projected Annual Potential Residential Rent $ 29,976,201 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 114,264,482 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 292,800 1st year of operations Absorption/Vacancy Pre-lease 25.00% Stabilized occupancy 95.00% Lease up (months) Income Tax Capture Revenues (City) City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption AF AG AH AI AJ AK AL AM AN AO AP AQ AR Total $ 9,101,047 $ 9,417,788 $ 9,705,640 $ 9,956,786 $ 10,309,342 $ 10,771,920 $ 11,146,170 $ 12,428,045 $ 12,768,115 $ 12,237,879 $ 10,788,696 $ 11,081,003 $ 229,558,387 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 60,647,889 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 18,174,854 Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space $ 11,196,608 $ 11,420,540 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 256,283,297 Rental Square Footage (SF) 132,360 1,245,298 71, , ,458 77,881 SF per Employee ,277 Employees 808 6, Avg. Salary $ 25,522 $ 85,000 $ 23,733 $ 24, $ 44,848 Salary Incr. 2.00% 2.00% 0.00% 2.00% 0.00% 0.00% State Income Tax Rate 4.25% 4.25% 4.25% 4.25% 4.25% 0.00% % of Wages Subject to Withholding 87.06% 82.06% 87.06% 87.06% 87.06% 0.00% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ Absorption/Vacancy Pre-lease 50% 50% 50% 50% 50% Stabilized occupancy 95% - 100% 90% 95% 100% 100% Lease up (months) $ 2,639,667 $ 2,692,460 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 51,694,296 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1,660,444 $ 22,937,321 $ 23,530,788 $ 9,705,640 $ 9,956,786 $ 10,309,342 $ 10,771,920 $ 11,146,170 $ 12,428,045 $ 12,768,115 $ 12,237,879 $ 10,788,696 $ 11,081,003 $ 618,019,167

90 B D E F G H I J K L M N O P Q R S T U V W X Y Attachment F2 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Hudson's Block Tax Year Renaissance Zone Exemption percentage Initial Taxable Value Inflation: % % % % % % 2023 Year % 2024 Year % 2025 Year % 2026 Year % 2027 Year % 2028 Year % 2029 Year % 2030 Year % 2031 Year % 2032 Year % 2033 Year % 2034 Year % 2035 Year % 2036 Year % 2037 Year % 9 Total Taxable Value 3.00% $4,358,471 $4,489,225 $4,623,902 $4,762,619 $66,232,530 $67,603,633 $69,031,808 $71,024,069 $72,487,487 $75,622,593 $77,723,766 $79,391,915 $81,160,400 $83,570,380 $87,507,357 $89,361,702 $91,976,070 $94,044,730 $96,322, Captured Taxable Value 3.00% $4,358,471 $4,489,225 $4,623,902 $4,762,619 $66,232,530 $67,603,633 $69,031,808 $71,024,069 $72,487,487 $75,622,593 $77,723,766 $79,391,915 $81,160,400 $83,570,380 $87,507,357 $89,361,702 $91,976,070 $94,044,730 $96,322, Building Land Personal Property Total Captured Taxable Value $4,358,471 $4,358,471 $4,489,225 $4,489,225 $4,623,902 $4,623,902 $4,762,619 $4,762,619 $57,898,732 $4,905,497 $3,428,301 $66,232,530 $59,635,694 $5,052,662 $2,915,277 $67,603,633 $61,424,764 $5,204,242 $2,402,802 $69,031,808 $63,267,507 $5,360,369 $2,396,192 $71,024,069 $65,165,533 $5,521,180 $1,800,774 $72,487,487 $67,120,499 $5,686,816 $2,815,278 $75,622,593 $69,134,114 $5,857,420 $2,732,233 $77,723,766 $71,208,137 $6,033,143 $2,150,635 $79,391,915 $73,344,381 $6,214,137 $1,601,882 $81,160,400 $75,544,712 $6,400,561 $1,625,106 $83,570,380 $77,811,054 $6,592,578 $3,103,725 $87,507,357 $80,145,385 $6,790,356 $2,425,961 $89,361,702 $82,549,747 $6,994,066 $2,432,257 $91,976,070 $85,026,239 $7,203,888 $1,814,602 $94,044,730 $87,577,027 $7,420,005 $1,325,894 $96,322,926 Taxes Captured by DDA through 2022, then 16 Captured by Brownfield Authority Millage** School Operating State Education Tax Wayne County ISD (RESA) Wayne County Special RESA ENH Total $8,717 $8,717 $8,978 $8,978 $9,248 $9,248 $9,525 $9,525 $168,732 $59,672 $7,218 $16,668 $252,290 $345,741 $121,077 $13,802 $15,936 $496,556 $531,470 $184,365 $19,765 $15,214 $750,813 $729,413 $252,722 $26,871 $15,513 $1,024,519 $747,291 $256,300 $25,365 $14,644 $1,043,601 $775,473 $269,752 $29,454 $17,004 $1,091,683 $797,732 $276,840 $29,757 $17,179 $1,121,508 $817,683 $281,163 $28,351 $16,368 $1,143,565 $838,533 $285,919 $27,077 $15,632 $1,167,161 $863,540 $294,347 $27,803 $16,051 $1,201,742 $898,026 $311,757 $180,003 $103,919 $1,493,705 $920,341 $316,484 $182,733 $105,495 $1,525,053 $947,553 $325,580 $187,984 $108,527 $1,569,644 $971,836 $331,204 $191,231 $110,401 $1,604,672 $997,732 $337,881 $195,087 $112,627 $1,643,326 Taxes Remitted to Wayne County through 2022, 24 then Captured by Brownfield Authority Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total $2,062 $512 $1,954 $4,529 $3,943 $980 $3,737 $8,660 $5,647 $1,403 $5,352 $12,402 $7,677 $1,907 $7,276 $16,860 $7,247 $1,800 $6,869 $15,916 $8,415 $2,091 $7,976 $18,481 $8,501 $2,112 $8,058 $18,671 $8,099 $2,012 $7,677 $17,789 $7,736 $1,922 $7,332 $16,990 $7,943 $1,974 $7,529 $17,445 $51,424 $12,777 $48,743 $112,944 $52,204 $12,971 $49,482 $114,657 $53,704 $13,343 $50,904 $117,952 $54,632 $13,574 $51,784 $119,990 $55,733 $13,847 $52,828 $122, Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total $41,258 $56,660 $97,918 $42,495 $58,360 $100,855 $43,770 $60,111 $103,881 $45,083 $61,914 $106,997 $41,569 $9,648 $11,768 $447 $3,974 $78,889 $108,339 $254,634 $79,488 $18,449 $22,503 $855 $8,187 $75,425 $103,583 $308,490 $113,832 $26,419 $32,225 $1,224 $12,649 $72,009 $98,892 $357,251 $154,759 $35,918 $43,811 $1,665 $17,372 $73,424 $100,835 $427,785 $146,088 $33,906 $41,357 $1,571 $17,893 $69,310 $95,185 $405,310 $169,634 $39,371 $48,022 $1,825 $18,430 $80,482 $110,527 $468,290 $171,381 $39,776 $48,517 $1,843 $18,983 $81,311 $111,665 $473,476 $163,283 $37,897 $46,224 $1,756 $19,552 $77,468 $106,389 $452,570 $155,945 $36,194 $44,147 $1,677 $20,139 $73,987 $101,608 $433,698 $160,128 $37,164 $45,331 $1,722 $20,743 $75,972 $104,334 $445,395 $1,036,695 $240,609 $293,483 $11,151 $158,332 $491,854 $675,473 $2,907,596 $1,052,416 $244,257 $297,933 $11,320 $163,082 $499,312 $685,716 $2,954,035 $1,082,662 $251,277 $306,496 $11,645 $167,974 $513,662 $705,423 $3,039,139 $1,101,362 $255,617 $311,790 $11,846 $173,013 $522,534 $717,608 $3,093,771 $1,123,566 $260,771 $318,075 $12,085 $178,204 $533,069 $732,075 $3,157, Non-Capturable Millages: DIA Tax Zoo Tax Total $417 $208 $625 $797 $398 $1,195 $1,141 $571 $1,712 $1,551 $776 $2,327 $1,464 $732 $2,197 $1,700 $850 $2,551 $1,718 $859 $2,577 $1,637 $818 $2,455 $1,563 $782 $2,345 $1,605 $803 $2,408 $10,392 $5,196 $15,588 $10,549 $5,275 $15,824 $10,853 $5,426 $16,279 $11,040 $5,520 $16,560 $11,263 $5,631 $16, Total Mills NEZ Specific Tax - Total* $320,945 $460,815 $608,788 $765,225 $788,182 $811,827 $836,182 $861,267 $887,105 $913,719 $941,130 $969,364 $2,929,347 $3,152,085 $3,385, NEZ Specific Tax Capture - schools NEZ Specific Tax Capture - non-schools 27.24% 8.67% $47,698 $27,104 $98,258 $39,459 $151,808 $52,530 $208,483 $66,350 $214,738 $68,340 $221,180 $70,391 $227,815 $72,502 $234,650 $74,677 $241,689 $76,918 $248,940 $79,225 $256,408 $81,602 $264,100 $84,050 $905,106 $257,309 $932,259 $275,583 $960,227 $294,721 Incremental Taxes Capturable by Brownfield 97 Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes $71,597 $204,506 $276,102 $8,849 $46,670 $55,518 $145,642 $419,434 $565,076 $17,559 $60,297 $77,856 $222,317 $645,326 $867,643 $26,151 $73,759 $99,910 $304,843 $885,775 $1,190,618 $35,743 $89,851 $125,594 $309,985 $908,345 $1,218,329 $35,365 $88,901 $124,265 $325,047 $941,358 $1,266,405 $38,513 $96,816 $135,330 $333,793 $968,594 $1,302,387 $39,305 $98,805 $138,110 $339,826 $993,670 $1,333,496 $39,042 $98,143 $137,185 $346,341 $1,019,800 $1,366,141 $38,880 $97,737 $136,616 $356,582 $1,050,245 $1,406,828 $39,992 $100,533 $140,525 $375,859 $1,090,332 $1,466,191 $136,167 $342,301 $478,468 $382,509 $1,118,417 $1,500,926 $138,577 $348,358 $486,934 $551,856 $1,626,382 $2,178,239 $191,180 $480,592 $671,772 $564,268 $1,671,030 $2,235,298 $198,418 $498,787 $697,205 $577,938 $1,717,902 $2,295,839 $206,283 $518,560 $724, Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund 110 Adjusted Captured Non-School Taxes (Wayne Co $331,621 $41,558 $35,798 $642,932 $39,589 $72,821 $967,553 $41,691 $111,158 $1,316,213 $41,817 $152,422 $1,342,595 $43,000 $154,992 $1,401,734 $43,000 $162,524 $1,440,497 $43,000 $166,897 $1,470,681 $43,000 $169,913 $1,502,758 $43,000 $173,170 $1,547,353 $43,000 $178,291 $1,944,659 $25,000 $187,929 $1,987,861 $25,000 $191,255 $2,850,011 $25,000 $275,928 $2,932,503 $25,000 $282,134 $3,020,683 $25,000 $288, Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 115 Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes -$1,100 $15,060 $35,798 $204,506 $254,264 $254,264 $240,304 $13,960 $7,178 $31,088 $72,821 $419,434 $530,522 $530,522 $492,255 $38,267 $14,629 $43,591 $111,158 $645,326 $814,704 $814,704 $756,484 $58,220 $23,842 $59,935 $152,422 $885,775 $1,121,974 $1,121,974 $1,038,197 $83,777 $23,127 $58,138 $154,992 $908,345 $1,144,602 $1,144,602 $1,063,337 $81,265 $26,276 $66,053 $162,524 $941,358 $1,196,211 $1,196,211 $1,103,881 $92,330 $27,067 $68,043 $166,897 $968,594 $1,230,600 $1,230,600 $1,135,490 $95,110 $26,804 $67,381 $169,913 $993,670 $1,257,768 $1,257,768 $1,163,583 $94,185 $26,642 $66,974 $173,170 $1,019,800 $1,286,587 $1,286,587 $1,192,971 $93,616 $27,755 $69,770 $178,291 $1,050,245 $1,326,062 $1,326,062 $1,228,537 $97,525 $129,053 $324,416 $187,929 $1,090,332 $1,731,730 $1,731,730 $1,278,261 $453,468 $131,462 $330,472 $191,255 $1,118,417 $1,771,606 $1,771,606 $1,309,671 $461,934 $184,065 $462,707 $275,928 $1,626,382 $2,549,083 $2,549,083 $1,902,310 $646,772 $191,303 $480,902 $282,134 $1,671,030 $2,625,369 $2,625,369 $1,953,164 $672,205 $199,169 $500,675 $288,969 $1,717,902 $2,706,714 $2,706,714 $2,006,871 $699, Unreimbursed MSF Expenses 129 $87,312,842 $87,312,842 $87,312,842 $87,312,842 $87,312,842 $87,312,842 $87,058,577 $86,528,056 $85,713,352 $84,591,378 $83,446,776 $82,250,565 $81,019,964 $79,762,197 $78,475,609 $77,149,548 $75,417,818 $73,646,212 $71,097,129 $68,471,761 $65,765, Adjusted for State Brownfield Redevelopment Fund. 25 years maximum. 4 Brownfield plan eligible expense ratio 5 Tax ratio (weighted average) MDEQ 0.00% School Tax 77.00% Eligible activity school/local reimbursement breakdown Local Site Remediation Revolving Fund (LSRRF) school/local reimbursement breakdown 1 Annual DBRA administrative fee includes project's 134 allocated portion of estimated total MSF $87,312, % Non-school Tax 23.00% TOTAL SCHOOL LOCAL TOTAL SCHOOL LOCAL TOTAL $87,312,842 MDEQ MEGA #REF! #REF! MSF $87,312,842 $67,233,399 $20,079,442 MEDQ MEGA school taxes are not -$6,087,168 eligible for deposit -$4,687,294 into the revolving fund. -$1,399,873 MDEQ school taxes are eligible but are capped at the amount of school tax capture approved for eligible activity reimbursement. 2 5 Adjusted for DBRA administrative fee-which is taken School Taxes, for eligible activity reimbursement, are capped at the amount that would be paid 137 from non-school taxes only. for the eligible expenses--using tax ratio applicable to each particular year *NEZ Specific Tax for a new facility is equal to 50% of average rate of taxation levied upon commercial property upon which ad valorem taxes are assessed as determined for the immediately preceding year by the state board of assessors under section 13 of 1905 PA 282, MCL which for 2017 was = 142 In addition, a portion of the NEZ Specific Tax is exempt, while the Renaissance Zone is in effect (subject to phase out over the last 3 years), based on the ratio of non-debt millage to the total millage 165 **Includes all taxes other than NEZ specific tax which is calculated separately in the following section. 166 Note: This schedule assumes that the property tax abatements will be requested and approved as presented 167 This schedule Includes approximately combined mills from county winter, jail and parks millage not captured by the City of Detroit DDA and therefore required to be captured during the capture period pursuant to MCL (2)(c) Years of the abatement have special phase out calculations where 5/8, 3/4 and 7/8 of operating mills and 100% of remaining mills a

91 B D Attachment F2 to DBRA Transformational Brownfield Plan ( Estimated Tax Increment Revenue Hudson's Block Tax Year Renaissance Zone Exemption percentage Initial Taxable Value Inflation: 9 Total Taxable Value 3.00% 10 Captured Taxable Value 3.00% Building Land Personal Property Total Captured Taxable Value 15 Taxes Captured by DDA through 2022, then 16 Captured by Brownfield Authority Millage** School Operating State Education Tax Wayne County ISD (RESA) Wayne County Special RESA ENH Total Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AN AO Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% $101,088,662 $103,335,817 $105,812,554 $108,982,820 $111,630,791 $116,247,619 $119,636,055 $122,523,431 $125,586,879 $129,419,485 $134,491,605 $137,819,217 $141,938,600 $145,506,136 $149,328,174 $101,088,662 $103,335,817 $105,812,554 $108,982,820 $111,630,791 $116,247,619 $119,636,055 $122,523,431 $125,586,879 $129,419,485 $134,491,605 $137,819,217 $141,938,600 $145,506,136 $149,328,174 $90,204,337 $92,910,468 $95,697,782 $98,568,715 $101,525,776 $104,571,550 $107,708,696 $110,939,957 $114,268,156 $117,696,201 $121,227,087 $124,863,899 $128,609,816 $132,468,111 $136,442,154 $7,642,605 $7,871,883 $8,108,040 $8,351,281 $8,601,819 $8,859,874 $9,125,670 $9,399,440 $9,681,423 $9,971,866 $10,271,022 $10,579,153 $10,896,527 $11,223,423 $11,560,126 $3,241,719 $2,553,466 $2,006,733 $2,062,824 $1,503,196 $2,816,195 $2,801,689 $2,184,034 $1,637,300 $1,751,418 $2,993,497 $2,376,165 $2,432,257 $1,814,602 $1,325,894 $101,088,662 $103,335,817 $105,812,554 $108,982,820 $111,630,791 $116,247,619 $119,636,055 $122,523,431 $125,586,879 $129,419,485 $134,491,605 $137,819,217 $141,938,600 $145,506,136 $149,328,174 $1,780,695 $1,829,403 $1,880,545 $1,936,937 $1,991,316 $2,058,663 $2,119,829 $2,179,213 $2,240,916 $2,308,534 $2,384,927 $2,452,232 $2,525,708 $2,597,335 $2,671,996 $44,309,344 $606,532 $620,015 $634,875 $653,897 $669,785 $697,486 $717,816 $735,141 $753,521 $776,517 $806,950 $826,915 $851,632 $873,037 $895,969 $15,025,151 $350,201 $357,986 $366,566 $377,549 $386,723 $402,717 $414,455 $424,458 $435,071 $448,348 $465,919 $477,447 $491,718 $504,077 $517,318 $7,593,055 $202,177 $206,672 $211,625 $217,966 $223,262 $232,495 $239,272 $245,047 $251,174 $258,839 $268,983 $275,638 $283,877 $291,012 $298,656 $4,444,342 $2,939,606 $3,014,076 $3,093,612 $3,186,349 $3,271,085 $3,391,360 $3,491,372 $3,583,859 $3,680,682 $3,792,238 $3,926,779 $4,032,233 $4,152,934 $4,265,461 $4,383,939 $71,371,891 TOTALS Taxes Remitted to Wayne County through 2022, then Captured by Brownfield Authority Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total Non-Capturable Millages: DIA Tax Zoo Tax Total Total Mills NEZ Specific Tax - Total* NEZ Specific Tax Capture - schools 27.24% NEZ Specific Tax Capture - non-schools 8.67% Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund Adjusted Captured Non-School Taxes (Wayne Co 111 Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 115 Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes 127 Unreimbursed MSF Expenses 129 $100,047 $102,271 $104,723 $107,860 $110,481 $115,050 $118,404 $121,261 $124,293 $128,086 $133,106 $136,400 $140,477 $144,007 $147,790 $2,169,225 $24,858 $25,410 $26,019 $26,799 $27,450 $28,585 $29,419 $30,129 $30,882 $31,824 $33,071 $33,890 $34,903 $35,780 $36,720 $538,964 $94,831 $96,939 $99,263 $102,237 $104,721 $109,052 $112,231 $114,939 $117,813 $121,408 $126,167 $129,288 $133,153 $136,499 $140,085 $2,056,128 $219,736 $224,621 $230,005 $236,896 $242,652 $252,687 $260,053 $266,329 $272,988 $281,319 $292,344 $299,578 $308,532 $316,287 $324,595 $4,764,317 $2,016,921 $2,061,756 $2,111,172 $2,174,425 $2,227,258 $2,319,372 $2,386,979 $2,444,588 $2,505,709 $2,582,178 $2,683,377 $2,749,769 $2,831,959 $2,903,138 $2,979,396 $43,730,804 $468,111 $478,517 $489,986 $504,667 $516,929 $538,308 $553,999 $567,369 $581,555 $599,303 $622,790 $638,199 $657,275 $673,795 $691,494 $10,149,571 $570,979 $583,672 $597,661 $615,568 $630,524 $656,601 $675,740 $692,049 $709,352 $731,000 $759,649 $778,444 $801,712 $821,862 $843,450 $12,379,947 $21,694 $22,176 $22,707 $23,388 $23,956 $24,947 $25,674 $26,294 $26,951 $27,773 $28,862 $29,576 $30,460 $31,226 $32,046 $470,360 $317,102 $326,615 $336,414 $346,506 $356,902 $367,609 $378,637 $389,996 $401,696 $413,747 $426,159 $438,944 $452,112 $465,676 $479,646 $6,896,287 $956,915 $978,187 $1,001,632 $1,031,642 $1,056,708 $1,100,412 $1,132,487 $1,159,819 $1,188,818 $1,225,098 $1,273,111 $1,304,610 $1,343,605 $1,377,376 $1,413,555 $21,035,291 $1,314,153 $1,343,366 $1,375,563 $1,416,777 $1,451,200 $1,511,219 $1,555,269 $1,592,805 $1,632,629 $1,682,453 $1,748,391 $1,791,650 $1,845,202 $1,891,580 $1,941,266 $28,888,221 $5,665,875 $5,794,289 $5,935,136 $6,112,973 $6,263,476 $6,518,468 $6,708,784 $6,872,919 $7,046,711 $7,261,552 $7,542,339 $7,731,193 $7,962,325 $8,164,653 $8,380,853 $123,550,481 $20,218 $20,667 $21,163 $21,797 $22,326 $23,250 $23,927 $24,505 $25,117 $25,884 $26,898 $27,564 $28,388 $29,101 $29,866 $438,360 $10,109 $10,334 $10,581 $10,898 $11,163 $11,625 $11,964 $12,252 $12,559 $12,942 $13,449 $13,782 $14,194 $14,551 $14,933 $219,180 $30,327 $31,001 $31,744 $32,695 $33,489 $34,874 $35,891 $36,757 $37,676 $38,826 $40,347 $41,346 $42,582 $43,652 $44,798 $657,540 $606,532 $620,015 $634,875 $653,897 $669,785 $697,486 $717,816 $735,141 $753,521 $776,517 $806,950 $826,915 $851,632 $873,037 $895,969 $16,328,491 $1,780,695 $1,829,403 $1,880,545 $1,936,937 $1,991,316 $2,058,663 $2,119,829 $2,179,213 $2,240,916 $2,308,534 $2,384,927 $2,452,232 $2,525,708 $2,597,335 $2,671,996 $48,219,364 $2,387,227 $2,449,418 $2,515,420 $2,590,834 $2,661,101 $2,756,149 $2,837,645 $2,914,354 $2,994,438 $3,085,051 $3,191,877 $3,279,147 $3,377,339 $3,470,372 $3,567,965 $64,547,855 $219,736 $224,621 $230,005 $236,896 $242,652 $252,687 $260,053 $266,329 $272,988 $281,319 $292,344 $299,578 $308,532 $316,287 $324,595 $5,218,645 $552,379 $564,658 $578,192 $595,515 $609,984 $635,212 $653,727 $669,505 $686,244 $707,187 $734,902 $753,086 $775,595 $795,089 $815,974 $13,167,360 $772,115 $789,279 $808,196 $832,411 $852,636 $887,899 $913,780 $935,834 $959,233 $988,506 $1,027,247 $1,052,663 $1,084,127 $1,111,376 $1,140,569 $18,386,005 $3,159,342 $3,238,697 $3,323,617 $3,423,245 $3,513,737 $3,644,048 $3,751,425 $3,850,188 $3,953,670 $4,073,557 $4,219,123 $4,331,810 $4,461,466 $4,581,748 $4,708,534 $82,933,860 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $50,000 $50,000 $972,655 $303,266 $310,007 $317,438 $326,948 $334,892 $348,743 $358,908 $367,570 $376,761 $388,258 $6,036,994 $212,622 $217,506 $222,890 $229,781 $235,537 $245,573 $252,938 $259,214 $265,873 $274,204 $285,230 $292,463 $301,417 $302,057 $310,365 $4,944,944 $534,494 $546,773 $560,306 $577,630 $592,099 $617,327 $635,842 $651,620 $668,359 $689,302 $717,017 $735,200 $757,710 $759,319 $780,203 $12,468,406 $303,266 $310,007 $317,438 $326,948 $334,892 $348,743 $358,908 $367,570 $376,761 $388,258 $806,950 $826,915 $851,632 $873,037 $895,969 $10,291,497 $1,780,695 $1,829,403 $1,880,545 $1,936,937 $1,991,316 $2,058,663 $2,119,829 $2,179,213 $2,240,916 $2,308,534 $2,384,927 $2,452,232 $2,525,708 $2,597,335 $2,671,996 $48,219,364 $2,831,076 $2,903,690 $2,981,179 $3,071,296 $3,153,844 $3,270,305 $3,367,517 $3,457,618 $3,551,909 $3,660,298 $4,194,123 $4,306,810 $4,436,466 $4,531,748 $4,658,534 $75,924,210 $2,831,076 $2,903,690 $2,981,179 $3,071,296 $3,153,844 $3,270,305 $3,367,517 $3,457,618 $3,551,909 $3,660,298 $4,194,123 $4,306,810 $4,436,466 $4,531,748 $4,658,534 $75,924,210 $2,083,961 $2,139,411 $2,197,983 $2,263,885 $2,326,208 $2,407,406 $2,478,737 $2,546,784 $2,617,677 $2,696,792 $3,191,877 $3,279,147 $3,377,339 $3,470,372 $3,567,965 $58,510,861 $747,115 $764,279 $783,196 $807,411 $827,636 $862,899 $888,780 $910,834 $934,233 $963,506 $1,002,247 $1,027,663 $1,059,127 $1,061,376 $1,090,569 $17,413,349 $62,933,970 $60,030,280 $57,049,101 $53,977,805 $50,823,961 $47,553,656 $44,186,139 $40,728,521 $37,176,612 $33,516,314 $29,322,190 $25,015,380 $20,578,913 $16,047,166 $11,388,632 $18,631,532 $5,213,360 $1,620,760

92 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF Attachment F2 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Hudson's Block Tax Capture from Property Taxes (from previous page) $ - $ - $ - $ - $ - $ - $ 254,264 $ 530,522 $ 814,704 $ 1,121,974 $ 1,144,602 $ 1,196,211 $ 1,230,600 $ 1,257,768 $ 1,286,587 $ 1,326,062 $ 1,731,730 $ 1,771,606 $ 2,549,083 $ 2,625,369 $ 2,706,714 $ 2,831,076 $ 2,903,690 $ 2,981,179 $ 3,071,296 Construction Sales/Use Tax Exemption $ 523,811 $ 6,373,037 $ 6,373,037 $ 6,390,498 $ 6,373,037 $ 2,653,977 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 796,872,183 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues $ 156,975 $ 1,909,861 $ 1,909,861 $ 1,915,093 $ 1,909,861 $ 795,339 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 796,872,183 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space $ - $ - $ - $ - $ - $ - $ 2,124,192 $ 2,276,724 $ 2,322,259 $ 2,368,704 $ 2,416,078 $ 2,464,399 $ 2,513,687 $ 2,563,961 $ 2,615,240 $ 2,667,545 $ 2,720,896 $ 2,775,314 $ 2,830,820 $ 2,887,437 $ 2,945,185 $ 3,004,089 $ 3,064,171 $ 3,125,454 $ 3,187,963 Rental Square Footage (SF) 17, ,965-76, ,968 77,881 SF per Employee ,199 1,277 Employees 107 1, Avg. Salary $ 25,522 $ 85,000 $ - $ 24,523 $ 68,393 $ 44,848 Salary Incr. 2.00% 2.00% 0.00% 2.00% 2.00% 2.00% State Income Tax Rate 4.25% 4.25% 0.00% 4.25% 4.25% 4.25% % of Wages Subject to Withholding 87.06% 82.06% 0.00% 87.06% 87.06% 87.06% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ - $ $ $ Absorption/Vacancy PIS Year 64.27% 65.00% 0.00% 64.27% 64.27% 64.27% Year after PIS Year 9.69% 14.17% 0.00% 9.69% 9.69% 9.69% Ongoing 5.00% 10.00% 0.00% 5.00% 0.00% 0.00% Income Tax Capture Revenues (State) $ - $ - $ - $ - $ - $ - $ 1,270,686 $ 1,433,127 $ 1,218,158 $ 994,017 $ 1,013,898 $ 1,034,176 $ 1,054,859 $ 1,075,956 $ 1,097,475 $ 1,119,425 $ 1,141,813 $ 1,164,650 $ 1,187,943 $ 1,211,701 $ 1,235,935 $ 1,260,654 $ 1,285,867 $ 1,311,585 $ 1,337,816 # of Units 330 Rentable Square Footage (SF) 337,219 Total Projected Annual Potential Residential Rent $ 13,151,541 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 50,131,570 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 73,200 1st year of operations Absorption/Vacancy PIS Year 78.61% Year after PIS Year 26.39% Ongoing 5.00% Income Tax Capture Revenues (City) $ - $ - $ - $ - $ - $ 233,166 $ 613,837 $ 538,702 $ 274,738 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption $ 680,786 $ 8,282,898 $ 8,282,898 $ 8,305,591 $ 8,282,898 $ 3,682,483 $ 4,262,979 $ 4,779,076 $ 4,629,859 $ 4,484,695 $ 4,574,578 $ 4,694,786 $ 4,799,147 $ 4,897,685 $ 4,999,303 $ 5,113,032 $ 5,594,439 $ 5,711,569 $ 6,567,845 $ 6,724,507 $ 6,887,835 $ 7,095,820 $ 7,253,728 $ 7,418,218 $ 7,597,076

93 A B C D E F G Attachment F2 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Hudson's Block Tax Capture from Property Taxes (from previous page) Construction Sales/Use Tax Exemption Hard Costs (HC) $ 796,872,183 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues Hard Costs (HC) $ 796,872,183 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Income Tax Capture Revenues (State) # of Units 330 Rentable Square Footage (SF) 337,219 Total Projected Annual Potential Residential Rent $ 13,151,541 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 50,131,570 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 73,200 1st year of operations Absorption/Vacancy PIS Year 78.61% Year after PIS Year 26.39% Ongoing 5.00% Income Tax Capture Revenues (City) City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption AG AH AI AJ AK AL AM AN AO AP AQ AR Total $ 3,153,844 $ 3,270,305 $ 3,367,517 $ 3,457,618 $ 3,551,909 $ 3,660,298 $ 4,194,123 $ 4,306,810 $ 4,436,466 $ 4,531,748 $ 4,658,534 $ 75,924,210 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 28,687,399 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 8,596,990 Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space $ 3,251,723 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 54,125,842 Rental Square Footage (SF) 17, ,965-76, ,968 77,881 SF per Employee ,199 1,277 Employees 107 1, Avg. Salary $ 25,522 $ 85,000 $ - $ 24,523 $ 68,393 $ 44,848 Salary Incr. 2.00% 2.00% 0.00% 2.00% 2.00% 2.00% State Income Tax Rate 4.25% 4.25% 0.00% 4.25% 4.25% 4.25% % of Wages Subject to Withholding 87.06% 82.06% 0.00% 87.06% 87.06% 87.06% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ - $ $ $ Absorption/Vacancy PIS Year 64.27% 65.00% 0.00% 64.27% 64.27% 64.27% Year after PIS Year 9.69% 14.17% 0.00% 9.69% 9.69% 9.69% Ongoing 5.00% 10.00% 0.00% 5.00% 0.00% 0.00% $ 1,364,573 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 23,814,315 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1,660,444 $ 7,770,140 $ 3,270,305 $ 3,367,517 $ 3,457,618 $ 3,551,909 $ 3,660,298 $ 4,194,123 $ 4,306,810 $ 4,436,466 $ 4,531,748 $ 4,658,534 $ 192,809,200

94 B D E F G H I J K L M N O P Q R S T U V W X Y Attachment F3 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Monroe Blocks Tax Year Initial Taxable Value Inflation: 2017 $567, $567, $567, $567, $567, $567, Year 1 $567, Year 2 $567, Year 3 $567, Year 4 $567, Year 5 $567, Year 6 $567, Year 7 $567, Year 8 $567, Year 9 $567, Year 10 $567, Year 11 $567, Year 12 $567, Year 13 $567, Year 14 $567, Year 15 $567, Total Taxable Value 3.00% $567,831 $567,831 $5,756,762 $5,929,465 $6,107,349 $70,671,613 $95,304,068 $96,314,351 $98,895,708 $99,882,013 $105,596,853 $108,414,931 $109,696,898 $111,091,706 $114,261,478 $121,878,764 $123,484,805 $126,881,053 $128,652,535 $130,817,649 $140,163,782 Captured Taxable Value 3.00% $5,188,931 $5,361,634 $5,539,518 $70,103,782 $94,736,237 $95,746,520 $98,327,877 $99,314,182 $105,029,022 $107,847,100 $109,129,067 $110,523,875 $113,693,647 $121,310,933 $122,916,974 $126,313,222 $128,084,704 $130,249,818 $139,595,951 Building $3,971 $8,061 $12,274 $54,343,638 $79,792,714 $82,190,467 $84,660,152 $87,203,927 $89,824,016 $92,522,707 $95,302,359 $98,165,401 $101,114,334 $104,151,735 $107,280,258 $110,502,636 $113,821,686 $117,240,308 $120,761,488 Land $5,184,960 $5,353,573 $5,527,244 $5,706,126 $5,890,374 $6,080,149 $6,275,617 $6,476,950 $6,684,322 $6,897,916 $7,117,918 $7,344,519 $7,577,919 $7,818,321 $8,065,934 $8,320,976 $8,583,670 $8,854,244 $9,132,935 Personal Property $10,054,019 $9,053,149 $7,475,904 $7,392,107 $5,633,305 $8,520,683 $8,426,476 $6,708,790 $5,013,955 $5,001,395 $9,340,878 $7,570,782 $7,489,609 $5,679,348 $4,155,266 $9,701,528 Total Captured Taxable Value $5,188,931 $5,361,634 $5,539,518 $70,103,782 $94,736,237 $95,746,520 $98,327,877 $99,314,182 $105,029,022 $107,847,100 $109,129,067 $110,523,875 $113,693,647 $121,310,933 $122,916,974 $126,313,222 $128,084,704 $130,249,818 $139,595,951 Taxes Captured by DDA through 2022, then Captured by Brownfield Authority Millage** School Operating $93,401 $96,509 $99,711 $1,003,993 $1,068,279 $1,089,477 $1,120,555 $1,142,530 $1,193,359 $1,227,302 $1,252,541 $1,278,983 $1,316,616 $1,381,494 $1,410,879 $1,451,597 $1,483,178 $1,517,749 $1,809,848 State Education Tax $31,134 $32,170 $33,237 $374,880 $392,306 $393,063 $403,087 $403,377 $431,869 $442,807 $444,349 $446,383 $458,878 $497,861 $500,576 $513,824 $517,110 $522,537 $642,089 Wayne County ISD (RESA) $17,976 $18,574 $19,191 $54,655 $51,769 $46,962 $47,349 $41,954 $52,675 $53,088 $47,900 $42,813 $43,579 $276,883 $289,024 $296,674 $298,571 $301,704 $370,731 Wayne County Special RESA ENH $10,378 $10,723 $11,079 $31,554 $29,887 $27,112 $27,335 $24,221 $30,410 $30,649 $27,653 $24,717 $25,159 $159,849 $166,859 $171,275 $172,370 $174,179 $214,030 Total $152,888 $157,977 $163,218 $1,465,082 $1,542,241 $1,556,614 $1,598,326 $1,612,081 $1,708,312 $1,753,846 $1,772,443 $1,792,896 $1,844,231 $2,316,087 $2,367,338 $2,433,370 $2,471,229 $2,516,169 $3,036,698 Taxes Remitted to Wayne County through 2022, 24 then Captured by Brownfield Authority Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total $5,135 $1,276 $4,868 $11,279 $5,306 $1,318 $5,030 $11,655 $5,482 $1,362 $5,197 $12,041 $15,614 $3,880 $14,800 $34,294 $14,790 $3,675 $14,019 $32,483 $13,416 $3,333 $12,717 $29,467 $13,527 $3,361 $12,822 $29,710 $11,986 $2,978 $11,361 $26,324 $15,048 $3,739 $14,264 $33,051 $15,167 $3,768 $14,376 $33,311 $13,684 $3,400 $12,971 $30,055 $12,231 $3,039 $11,593 $26,864 $12,450 $3,093 $11,801 $27,344 $79,101 $19,653 $74,977 $173,732 $82,570 $20,515 $78,265 $181,350 $84,755 $21,058 $80,336 $186,150 $85,297 $21,193 $80,850 $187,340 $86,193 $21,415 $81,699 $189,307 $105,913 $26,315 $100,391 $232, Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total $103,530 $24,028 $29,309 $1,114 $16,816 $49,119 $67,456 $291,371 $106,975 $24,828 $30,284 $1,151 $17,376 $50,754 $69,701 $301,069 $110,524 $25,652 $31,289 $1,189 $17,952 $52,438 $72,014 $311,058 $314,778 $73,057 $89,112 $3,386 $51,129 $149,344 $205,098 $885,904 $298,153 $69,199 $84,405 $3,207 $48,429 $141,457 $194,266 $839,116 $270,470 $62,774 $76,569 $2,909 $43,932 $128,323 $176,229 $761,206 $272,698 $63,291 $77,199 $2,933 $44,294 $129,380 $177,680 $767,477 $241,624 $56,079 $68,402 $2,599 $39,247 $114,637 $157,433 $680,021 $303,370 $70,410 $85,882 $3,263 $49,276 $143,932 $197,665 $853,799 $305,752 $70,963 $86,557 $3,289 $49,663 $145,062 $199,217 $860,503 $275,870 $64,027 $78,097 $2,967 $44,810 $130,885 $179,747 $776,404 $246,576 $57,228 $69,804 $2,652 $40,051 $116,987 $160,660 $693,959 $250,982 $58,251 $71,052 $2,700 $40,767 $119,077 $163,531 $706,360 $1,594,654 $370,106 $451,438 $17,152 $259,019 $756,574 $1,039,019 $4,487,962 $1,664,582 $386,336 $471,234 $17,904 $270,378 $789,750 $1,084,581 $4,684,766 $1,708,637 $396,561 $483,706 $18,378 $277,534 $810,652 $1,113,286 $4,808,753 $1,719,563 $399,097 $486,799 $18,495 $279,308 $815,836 $1,120,405 $4,839,503 $1,737,611 $403,286 $491,908 $18,689 $282,240 $824,398 $1,132,164 $4,890,295 $2,135,159 $495,553 $604,452 $22,965 $346,814 $1,013,013 $1,391,193 $6,009, Non-Capturable Millages DIA Tax Zoo Tax Total $1,038 $519 $1,557 $1,072 $536 $1,608 $1,108 $554 $1,662 $3,155 $1,578 $4,733 $2,989 $1,494 $4,483 $2,711 $1,356 $4,067 $2,734 $1,367 $4,100 $2,422 $1,211 $3,633 $3,041 $1,521 $4,562 $3,065 $1,532 $4,597 $2,765 $1,383 $4,148 $2,472 $1,236 $3,708 $2,516 $1,258 $3,774 $15,985 $7,992 $23,977 $16,686 $8,343 $25,029 $17,127 $8,564 $25,691 $17,237 $8,619 $25,856 $17,418 $8,709 $26,127 $21,403 $10,701 $32, Total Mills NEZ Specific Tax - Total* $201,838 $777,093 $800,501 $824,611 $849,444 $875,022 $901,367 $928,503 $956,453 $985,241 $1,014,894 $1,045,435 $1,633,420 $3,293,439 $3,542,362 $2,756, NEZ Specific Tax Capture - schools NEZ Specific Tax Capture - non-schools 27.24% 8.67% $54,990 $17,501 $211,717 $67,379 $218,094 $69,408 $224,663 $71,499 $231,428 $73,652 $238,397 $75,870 $245,575 $78,154 $252,968 $80,507 $260,583 $82,930 $268,426 $85,427 $276,505 $87,998 $284,826 $90,646 $475,864 $142,584 $1,005,593 $288,918 $1,035,847 $309,337 $781,947 $240,002 Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes $445,235 $1,227,067 $1,672,302 $51,658 $129,859 $181,517 $447,586 $1,253,047 $1,700,633 $49,220 $123,730 $172,950 $459,252 $1,289,052 $1,748,304 $50,057 $125,836 $175,893 $461,234 $1,316,102 $1,777,335 $47,285 $118,866 $166,150 $491,468 $1,372,156 $1,863,625 $54,643 $137,363 $192,006 $504,200 $1,411,484 $1,915,684 $55,553 $139,649 $195,202 $507,591 $1,442,267 $1,949,858 $52,967 $133,149 $186,115 $511,529 $1,474,420 $1,985,949 $50,465 $126,860 $177,325 $525,984 $1,517,936 $2,043,920 $51,655 $129,852 $181,507 $566,988 $1,588,872 $2,155,860 $198,775 $499,686 $698,461 $571,782 $1,624,498 $2,196,280 $207,147 $520,732 $727,879 $632,790 $1,808,496 $2,441,286 $220,389 $576,293 $796,682 $768,508 $2,237,372 $3,005,881 $247,306 $699,893 $947,199 $781,499 $2,294,634 $3,076,132 $262,803 $711,724 $974,527 $837,576 $2,396,309 $3,233,884 $294,587 $762,794 $1,057, Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund 112 Adjusted Captured Non-School Taxes (Wayne Co $1,853,819 $25,000 $222,617 $1,873,583 $25,000 $223,793 $1,924,197 $25,000 $229,626 $1,943,485 $25,000 $230,617 $2,055,630 $25,000 $245,734 $2,110,886 $25,000 $252,100 $2,135,973 $25,000 $253,795 $2,163,273 $25,000 $255,765 $2,225,428 $25,000 $262,992 $2,854,321 $25,000 $283,494 $2,924,160 $25,000 $285,891 $3,237,968 $25,000 $316,395 $3,953,080 $25,000 $384,254 $4,050,659 $25,000 $390,749 $4,291,266 $25,000 $418, Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 117 Adjusted Total Incremental Taxes 124 $44,543 $111,974 $222,617 $1,227,067 $1,606,202 $42,105 $105,845 $223,793 $1,253,047 $1,624,790 $42,943 $107,950 $229,626 $1,289,052 $1,669,571 $40,170 $100,980 $230,617 $1,316,102 $1,687,869 $47,528 $119,478 $245,734 $1,372,156 $1,784,896 $48,438 $121,764 $252,100 $1,411,484 $1,833,786 $45,852 $115,264 $253,795 $1,442,267 $1,857,178 $43,350 $108,974 $255,765 $1,474,420 $1,882,509 $44,540 $111,967 $262,992 $1,517,936 $1,937,436 $191,660 $481,801 $283,494 $1,588,872 $2,545,827 $200,033 $502,847 $285,891 $1,624,498 $2,613,268 $213,274 $558,407 $316,395 $1,808,496 $2,896,573 $240,191 $682,008 $384,254 $2,237,372 $3,543,826 $255,688 $693,839 $390,749 $2,294,634 $3,634,910 $287,472 $744,909 $418,788 $2,396,309 $3,847, Reimbursed MSF Expenses School Taxes Non-school Taxes 129 Unreimbursed MSF Expenses 131 $126,991,851 $126,991,851 $126,991,851 $126,991,851 $126,991,851 $126,991,851 $1,606,202 $1,449,684 $156,517 $125,385,649 $1,624,790 $1,476,840 $147,950 $123,760,859 $1,669,571 $1,518,678 $150,893 $122,091,288 $1,687,869 $1,546,718 $141,150 $120,403,420 $1,784,896 $1,617,890 $167,006 $118,618,523 $1,833,786 $1,663,584 $170,202 $116,784,738 $1,857,178 $1,696,062 $161,115 $114,927,560 $1,882,509 $1,730,184 $152,325 $113,045,051 $1,937,436 $1,780,928 $156,507 $111,107,616 $2,545,827 $1,872,366 $673,461 $108,561,788 $2,613,268 $1,910,389 $702,879 $105,948,520 $2,896,573 $2,124,891 $771,682 $103,051,948 $3,543,826 $2,621,627 $922,199 $99,508,122 $3,634,910 $2,685,383 $949,527 $95,873,212 $3,847,478 $2,815,097 $1,032,381 $92,025, Adjusted for State Brownfield Redevelopment Fund. 25 years maximum. 4 Brownfield plan eligible expense ratio 5 Tax ratio (weighted average) MDEQ 0.00% School Tax 76.60% Eligible activity school/local reimbursement breakdown Local Site Remediation Revolving Fund (LSRRF) school/local reimbursement breakdown 1 Annual DBRA administrative fee includes project's 136 allocated portion of estimated total MSF $126,991, % Non-school Tax 23.40% TOTAL SCHOOL LOCAL TOTAL SCHOOL LOCAL TOTAL $126,991,851 MDEQ MEGA #REF! #REF! MSF $126,991,851 $97,275,812 $29,716,039 MEDQ MEGA school taxes are -$10,106,745 not eligible for deposit -$7,741,771 into the revolving fund. -$2,364,974 MDEQ school taxes are eligible but are capped at the amount of school tax capture approved for eligible activity reimbursement. 2 5 Adjusted for DBRA administrative fee-which is taken School Taxes, for eligible activity reimbursement, are capped at the amount that would be paid 139 from non-school taxes only. for the eligible expenses--using tax ratio applicable to each particular year *NEZ Specific Tax for a new facilityis equal to 50% of average rate of taxation levied upon commercial property upon which ad valorem taxes are assessed as determined for the immediately preceding year by the state board of assessors under section 13 of 1905 PA 282, MCL which for 2017 was = 168 **Includes all taxes other than NEZ specific tax which is calculated separately in the following section. 169 Note: This schedule assumes that the property tax abatements will be requested and approved as presented 170 This schedule Includes approximately combined mills from county winter, jail and parks millage not captured by the City of Detroit DDA and therefore required to be captured during the capture period pursuant to MCL (2)(c) Years of the abatement have special phase out calculations where 5/8, 3/4 and 7/8 of operating mills and 100% of remaining mills a

95 B D Attachment F3 to DBRA Transformational Brownfield Plan ( Estimated Tax Increment Revenue Monroe Blocks Tax Year 5 8 Initial Taxable Value Inflation: Total Taxable Value 3.00% Captured Taxable Value 3.00% Building Land Personal Property Total Captured Taxable Value Taxes Captured by DDA through 2022, then Captured by Brownfield Authority Millage** School Operating State Education Tax Wayne County ISD (RESA) Wayne County Special RESA ENH Total Taxes Remitted to Wayne County through 2022, 24 then Captured by Brownfield Authority Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total Non-Capturable Millages DIA Tax Zoo Tax Total NEZ Specific Tax - Total* Total Mills NEZ Specific Tax Capture - schools NEZ Specific Tax Capture - non-schools 27.24% 8.67% Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund Adjusted Captured Non-School Taxes (Wayne Co 113 Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 117 Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes 129 Unreimbursed MSF Expenses 131 Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AN AO Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $567,831 $142,341,238 $144,667,895 $148,904,240 $151,548,232 $159,721,223 $164,409,135 $167,269,156 $170,388,479 $175,600,731 $184,366,624 $187,998,838 $193,490,283 $197,267,566 $201,491,131 $206,302,222 $141,773,407 $144,100,064 $148,336,409 $150,980,401 $159,153,392 $163,841,304 $166,701,325 $169,820,648 $175,032,900 $183,798,793 $187,431,007 $192,922,452 $196,699,735 $200,923,300 $205,734,391 $124,388,303 $128,123,923 $131,971,612 $135,934,731 $140,016,744 $144,221,217 $148,551,825 $153,012,350 $157,606,692 $162,338,863 $167,213,000 $172,233,361 $177,404,333 $182,730,434 $188,216,318 $9,419,987 $9,715,651 $10,020,184 $10,333,854 $10,656,934 $10,989,706 $11,332,461 $11,685,499 $12,049,128 $12,423,666 $12,809,440 $13,206,787 $13,616,054 $14,037,600 $14,471,792 $7,965,116 $6,260,490 $6,344,613 $4,711,816 $8,479,714 $8,630,381 $6,817,040 $5,122,799 $5,377,080 $9,036,264 $7,408,567 $7,482,304 $5,679,348 $4,155,266 $3,046,281 $141,773,407 $144,100,064 $148,336,409 $150,980,401 $159,153,392 $163,841,304 $166,701,325 $169,820,648 $175,032,900 $183,798,793 $187,431,007 $192,922,452 $196,699,735 $200,923,300 $205,734,391 $2,456,340 $2,518,675 $2,593,920 $2,661,105 $2,763,004 $2,845,579 $2,918,819 $2,995,298 $3,086,067 $3,199,943 $3,284,855 $3,382,816 $3,472,443 $3,566,756 $3,666,664 $66,450,287 $850,640 $864,600 $890,018 $905,882 $954,920 $983,048 $1,000,208 $1,018,924 $1,050,197 $1,102,793 $1,124,586 $1,157,535 $1,180,198 $1,205,540 $1,234,406 $23,005,033 $491,146 $499,206 $513,882 $523,041 $551,355 $567,595 $577,503 $588,310 $606,366 $636,734 $649,317 $668,341 $681,427 $696,059 $712,726 $11,335,080 $283,547 $288,200 $296,673 $301,961 $318,307 $327,683 $333,403 $339,641 $350,066 $367,598 $374,862 $385,845 $393,399 $401,847 $411,469 $6,543,937 $4,081,673 $4,170,682 $4,294,493 $4,391,990 $4,587,587 $4,723,905 $4,829,933 $4,942,173 $5,092,697 $5,307,068 $5,433,621 $5,594,537 $5,727,468 $5,870,201 $6,025,264 $107,334,337 $140,313 $142,616 $146,809 $149,425 $157,514 $162,154 $164,984 $168,071 $173,230 $181,906 $185,500 $190,935 $194,674 $198,854 $203,615 $3,238,267 $34,862 $35,434 $36,476 $37,126 $39,136 $40,289 $40,992 $41,759 $43,041 $45,196 $46,089 $47,440 $48,368 $49,407 $50,590 $804,577 $132,998 $135,180 $139,154 $141,635 $149,302 $153,700 $156,383 $159,309 $164,198 $172,422 $175,829 $180,981 $184,524 $188,486 $192,999 $3,069,434 $308,173 $313,230 $322,439 $328,186 $345,952 $356,142 $362,359 $369,139 $380,469 $399,523 $407,419 $419,356 $427,566 $436,747 $447,205 $7,112,278 $2,828,663 $2,875,084 $2,959,608 $3,012,361 $3,175,428 $3,268,962 $3,326,025 $3,388,262 $3,492,256 $3,667,154 $3,739,623 $3,849,189 $3,924,553 $4,008,822 $4,104,813 $65,282,314 $656,510 $667,284 $686,901 $699,145 $736,992 $758,700 $771,944 $786,388 $810,525 $851,117 $867,937 $893,366 $910,857 $930,416 $952,694 $15,151,504 $800,779 $813,920 $837,849 $852,783 $898,946 $925,425 $941,579 $959,198 $988,638 $1,038,151 $1,058,667 $1,089,684 $1,111,019 $1,134,875 $1,162,050 $18,481,059 $30,425 $30,924 $31,833 $32,400 $34,154 $35,160 $35,774 $36,444 $37,562 $39,443 $40,223 $41,401 $42,212 $43,118 $44,151 $702,164 $459,459 $466,999 $480,729 $489,297 $515,784 $530,977 $540,246 $550,355 $567,247 $595,655 $607,426 $625,223 $637,465 $651,152 $666,744 $10,603,795 $1,342,041 $1,364,066 $1,404,167 $1,429,196 $1,506,562 $1,550,938 $1,578,011 $1,607,539 $1,656,879 $1,739,858 $1,774,241 $1,826,223 $1,861,979 $1,901,960 $1,947,502 $30,972,780 $1,843,054 $1,873,301 $1,928,373 $1,962,745 $2,068,994 $2,129,937 $2,167,117 $2,207,668 $2,275,428 $2,389,384 $2,436,603 $2,507,992 $2,557,097 $2,612,003 $2,674,547 $42,535,589 $7,960,931 $8,091,579 $8,329,460 $8,477,927 $8,936,861 $9,200,099 $9,360,696 $9,535,854 $9,828,535 $10,320,762 $10,524,720 $10,833,078 $11,045,182 $11,282,346 $11,552,500 $183,729,206 $28,355 $28,820 $29,667 $30,196 $31,831 $32,768 $33,340 $33,964 $35,007 $36,760 $37,486 $38,584 $39,340 $40,185 $41,147 $654,394 $14,177 $14,410 $14,834 $15,098 $15,915 $16,384 $16,670 $16,982 $17,503 $18,380 $18,743 $19,292 $19,670 $20,092 $20,573 $327,197 $42,532 $43,230 $44,501 $45,294 $47,746 $49,152 $50,010 $50,946 $52,510 $55,140 $56,229 $57,877 $59,010 $60,277 $61,720 $981,591 $850,640 $864,600 $890,018 $905,882 $954,920 $983,048 $1,000,208 $1,018,924 $1,050,197 $1,102,793 $1,124,586 $1,157,535 $1,180,198 $1,205,540 $1,234,406 $24,036,720 $2,456,340 $2,518,675 $2,593,920 $2,661,105 $2,763,004 $2,845,579 $2,918,819 $2,995,298 $3,086,067 $3,199,943 $3,284,855 $3,382,816 $3,472,443 $3,566,756 $3,666,664 $69,665,997 $3,306,980 $3,383,276 $3,483,938 $3,566,988 $3,717,925 $3,828,627 $3,919,027 $4,014,222 $4,136,265 $4,302,736 $4,409,441 $4,540,351 $4,652,641 $4,772,296 $4,901,070 $93,702,717 $308,173 $313,230 $322,439 $328,186 $345,952 $356,142 $362,359 $369,139 $380,469 $399,523 $407,419 $419,356 $427,566 $436,747 $447,205 $7,518,414 $774,692 $787,406 $810,555 $825,002 $869,662 $895,278 $910,906 $927,951 $956,432 $1,004,332 $1,024,179 $1,054,186 $1,074,826 $1,097,905 $1,124,194 $19,073,793 $1,082,865 $1,100,636 $1,132,993 $1,153,188 $1,215,614 $1,251,420 $1,273,265 $1,297,090 $1,336,901 $1,403,855 $1,431,598 $1,473,542 $1,502,393 $1,534,652 $1,571,399 $26,592,206 $4,389,846 $4,483,912 $4,616,932 $4,720,176 $4,933,538 $5,080,047 $5,192,292 $5,311,312 $5,473,166 $5,706,591 $5,841,039 $6,013,893 $6,155,034 $6,306,948 $6,472,469 $120,294,924 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $50,000 $50,000 $800,000 $425,320 $432,300 $445,009 $452,941 $477,460 $491,524 $500,104 $509,462 $525,099 $551,396 $9,067,227 $301,058 $306,116 $315,324 $321,071 $338,837 $349,027 $355,244 $362,024 $373,354 $392,409 $400,304 $412,241 $420,451 $422,517 $432,975 $7,290,742 $756,807 $769,521 $792,669 $807,117 $851,777 $877,393 $893,021 $910,066 $938,547 $986,447 $1,006,294 $1,036,301 $1,056,941 $1,062,135 $1,088,424 $18,501,465 $425,320 $432,300 $445,009 $452,941 $477,460 $491,524 $500,104 $509,462 $525,099 $551,396 $1,124,586 $1,157,535 $1,180,198 $1,205,540 $1,234,406 $14,969,493 $2,456,340 $2,518,675 $2,593,920 $2,661,105 $2,763,004 $2,845,579 $2,918,819 $2,995,298 $3,086,067 $3,199,943 $3,284,855 $3,382,816 $3,472,443 $3,566,756 $3,666,664 $69,665,997 $3,939,525 $4,026,612 $4,146,923 $4,242,235 $4,431,078 $4,563,523 $4,667,188 $4,776,850 $4,923,067 $5,130,195 $5,816,039 $5,988,893 $6,130,034 $6,256,948 $6,422,469 $110,427,696 $3,939,525 $4,026,612 $4,146,923 $4,242,235 $4,431,078 $4,563,523 $4,667,188 $4,776,850 $4,923,067 $5,130,195 $5,816,039 $5,988,893 $6,130,034 $6,256,948 $6,422,469 $110,427,696 $2,881,660 $2,950,975 $3,038,929 $3,114,047 $3,240,465 $3,337,103 $3,418,923 $3,504,760 $3,611,166 $3,751,339 $4,409,441 $4,540,351 $4,652,641 $4,772,296 $4,901,070 $84,635,490 $1,057,865 $1,075,636 $1,107,993 $1,128,188 $1,190,614 $1,226,420 $1,248,265 $1,272,090 $1,311,901 $1,378,855 $1,406,598 $1,448,542 $1,477,393 $1,484,652 $1,521,399 $25,792,206 $88,086,209 $84,059,597 $79,912,674 $75,670,439 $71,239,361 $66,675,838 $62,008,650 $57,231,800 $52,308,733 $47,178,538 $41,362,499 $35,373,606 $29,243,572 $22,986,624 $16,564,154 TOTALS $21,386,598 $6,067,423 $1,861,811

96 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF Attachment F3 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Monroe Blocks Tax Capture from Property Taxes (from previous page) $ - $ - $ - $ - $ - $ - $ 1,606,202 $ 1,624,790 $ 1,669,571 $ 1,687,869 $ 1,784,896 $ 1,833,786 $ 1,857,178 $ 1,882,509 $ 1,937,436 $ 2,545,827 $ 2,613,268 $ 2,896,573 $ 3,543,826 $ 3,634,910 $ 3,847,478 $ 3,939,525 $ 4,026,612 $ 4,146,923 $ 4,242,235 Construction Sales/Use Tax Exemption $ - $ 1,559,784 $ 7,262,147 $ 8,285,159 $ 3,034,674 $ 500,187 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 573,387,524 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues $ - $ 467,433 $ 2,176,308 $ 2,482,882 $ 909,426 $ 149,895 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 573,387,524 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space $ - $ - $ - $ - $ - $ - $ 5,604,749 $ 5,719,474 $ 5,833,863 $ 5,950,541 $ 6,069,551 $ 6,190,942 $ 6,314,761 $ 6,441,056 $ 6,569,878 $ 6,701,275 $ 6,835,301 $ 6,972,007 $ 7,111,447 $ 7,253,676 $ 7,398,749 $ 7,546,724 $ 7,697,659 $ 7,851,612 $ 8,008,644 Rental Square Footage (SF) 91, ,900-51, SF per Employee Employees 560 3, Avg. Salary $ 25,522 $ 85,000 $ - $ 24,523 $ - $ - Salary Incr. 2.00% 2.00% 0.00% 2.00% 0.00% 0.00% State Income Tax Rate 4.25% 4.25% 4.25% 4.25% 4.25% 0.00% % of Wages Subject to Withholding 87.06% 82.06% 87.06% 87.06% 87.06% 0.00% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ - Absorption/Vacancy PIS Year 44.27% 45.83% 0.00% 44.27% 0.00% 0.00% Year after PIS Year 5.94% 10.83% 0.00% 5.94% 0.00% 0.00% Ongoing 0.00% 10.00% 0.00% 0.00% 0.00% 0.00% Income Tax Capture Revenues (State) $ - $ - $ - $ - $ - $ - $ 805,721 $ 929,733 $ 948,328 $ 967,294 $ 986,640 $ 1,006,373 $ 1,026,500 $ 1,047,030 $ 1,067,971 $ 1,089,330 $ 1,111,117 $ 1,133,339 $ 1,156,006 $ 1,179,126 $ 1,202,709 $ 1,226,763 $ 1,251,298 $ 1,276,324 $ 1,301,851 # of Units 482 Rentable Square Footage (SF) 367,547 Total Projected Annual Potential Residential Rent $ 13,231,692 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 50,437,093 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 146,400 1st year of operations Absorption/Vacancy PIS Year 64.58% Year after PIS Year 16.67% Ongoing 5.00% Income Tax Capture Revenues (City) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption $ - $ 2,027,217 $ 9,438,455 $ 10,768,040 $ 3,944,100 $ 650,082 $ 8,016,671 $ 8,273,997 $ 8,451,762 $ 8,605,703 $ 8,841,088 $ 9,031,101 $ 9,198,439 $ 9,370,596 $ 9,575,284 $ 10,336,433 $ 10,559,686 $ 11,001,919 $ 11,811,278 $ 12,067,712 $ 12,448,936 $ 12,713,013 $ 12,975,569 $ 13,274,859 $ 13,552,730

97 A B C D E F G Attachment F3 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Monroe Blocks Tax Capture from Property Taxes (from previous page) Construction Sales/Use Tax Exemption Hard Costs (HC) $ 573,387,524 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues Hard Costs (HC) $ 573,387,524 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space Rental Square Footage (SF) 91, ,900-51, SF per Employee Employees 560 3, Avg. Salary $ 25,522 $ 85,000 $ - $ 24,523 $ - $ - Salary Incr. 2.00% 2.00% 0.00% 2.00% 0.00% 0.00% State Income Tax Rate 4.25% 4.25% 4.25% 4.25% 4.25% 0.00% % of Wages Subject to Withholding 87.06% 82.06% 87.06% 87.06% 87.06% 0.00% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ - Absorption/Vacancy PIS Year 44.27% 45.83% 0.00% 44.27% 0.00% 0.00% Year after PIS Year 5.94% 10.83% 0.00% 5.94% 0.00% 0.00% Ongoing 0.00% 10.00% 0.00% 0.00% 0.00% 0.00% Income Tax Capture Revenues (State) # of Units 482 Rentable Square Footage (SF) 367,547 Total Projected Annual Potential Residential Rent $ 13,231,692 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 50,437,093 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 146,400 1st year of operations Absorption/Vacancy PIS Year 64.58% Year after PIS Year 16.67% Ongoing 5.00% Income Tax Capture Revenues (City) City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption AG AH AI AJ AK AL AM AN AO AP AQ AR Total $ 4,431,078 $ 4,563,523 $ 4,667,188 $ 4,776,850 $ 4,923,067 $ 5,130,195 $ 5,816,039 $ 5,988,893 $ 6,130,034 $ 6,256,948 $ 6,422,469 $ 110,427,696 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 20,641,951 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 6,185,944 $ 8,168,817 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 136,240,726 $ 1,327,888 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 22,041,340 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 13,927,783 $ 4,563,523 $ 4,667,188 $ 4,776,850 $ 4,923,067 $ 5,130,195 $ 5,816,039 $ 5,988,893 $ 6,130,034 $ 6,256,948 $ 6,422,469 $ 295,537,657

98 Estimated Tax Increment Revenue One Campus Martius Expansion Tax Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year 16 8 Initial Taxable Value Inflation: 9 Total Taxable Value 3.00% $ - $13,716,781 $13,645,826 $13,580,545 $13,931,149 $13,826,331 $14,993,570 $15,312,161 $15,251,696 $15,228,815 $15,666,230 $17,256,374 $17,170,165 $17,633,190 $17,621,153 $17,724,287 $19,725, Captured Taxable Value 3.00% $ - $13,716,781 $13,645,826 $13,580,545 $13,931,149 $13,826,331 $14,993,570 $15,312,161 $15,251,696 $15,228,815 $15,666,230 $17,256,374 $17,170,165 $17,633,190 $17,621,153 $17,724,287 $19,725, Building Land Personal Property Total Captured Taxable Value $11,031,136 $2,685,645 $13,716,781 $11,362,070 $2,283,755 $13,645,826 $11,702,933 $1,877,613 $13,580,545 $12,054,021 $1,877,129 $13,931,149 $12,415,641 $1,410,690 $13,826,331 $12,788,110 $2,205,460 $14,993,570 $13,171,754 $2,140,408 $15,312,161 $13,566,906 $1,684,790 $15,251,696 $13,973,913 $1,254,902 $15,228,815 $14,393,131 $1,273,099 $15,666,230 $14,824,925 $2,431,449 $17,256,374 $15,269,673 $1,900,492 $17,170,165 $15,727,763 $1,905,427 $17,633,190 $16,199,596 $1,421,557 $17,621,153 $16,685,584 $1,038,704 $17,724,287 $17,186,151 $2,539,559 $19,725, B D F G H I J K L M N O P Q R S T U V W X Y Attachment F4 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Taxes Captured by DDA through 2019, then Captured by Brownfield Authority Millage School Operating $214,674 $218,220 $221,918 $228,235 $231,946 $243,419 $249,934 $254,313 $259,060 $266,715 $281,437 $286,257 $294,532 $300,122 $306,573 $324,588 State Education Tax $82,301 $81,875 $81,483 $83,587 $82,958 $89,961 $91,873 $91,510 $91,373 $93,997 $103,538 $103,021 $105,799 $105,727 $106,346 $118,354 Wayne County ISD (RESA) $47,519 $47,273 $47,047 $48,262 $47,899 $51,942 $53,046 $52,836 $52,757 $54,273 $59,781 $59,483 $61,087 $61,045 $61,402 $68,336 Wayne County Special RESA ENH $27,434 $27,292 $27,161 $27,862 $27,653 $29,987 $30,624 $30,503 $30,458 $31,332 $34,513 $34,340 $35,266 $35,242 $35,449 $39,451 Total $371,928 $374,660 $377,610 $387,946 $390,455 $415,310 $425,477 $429,163 $433,648 $446,317 $479,270 $483,101 $496,684 $502,136 $509,769 $550,730 Taxes Remitted to Wayne County through 2019, then Captured by Brownfield Authority Wayne County Operating-Winter $13,575 $13,505 $13,441 $13,788 $13,684 $14,839 $15,154 $15,095 $15,072 $15,505 $17,079 $16,993 $17,452 $17,440 $17,542 $19,523 Wayne County Parks-Winter $3,373 $3,356 $3,339 $3,426 $3,400 $3,687 $3,765 $3,750 $3,745 $3,852 $4,243 $4,222 $4,336 $4,333 $4,358 $4,851 Wayne County Jail-Winter $12,868 $12,801 $12,740 $13,069 $12,970 $14,065 $14,364 $14,308 $14,286 $14,696 $16,188 $16,107 $16,542 $16,530 $16,627 $18,505 Total $29,816 $29,662 $29,520 $30,282 $30,054 $32,592 $33,284 $33,153 $33,103 $34,054 $37,510 $37,323 $38,329 $38,303 $38,527 $42,878 Taxes Captured by DDA City Operating $273,677 $272,262 $270,959 $277,954 $275,863 $299,152 $305,508 $304,302 $303,845 $312,573 $344,299 $342,579 $351,817 $351,577 $353,635 $393,567 Library $63,518 $63,190 $62,887 $64,511 $64,026 $69,431 $70,906 $70,626 $70,520 $72,546 $79,909 $79,510 $81,654 $81,598 $82,076 $91,344 Wayne County Operating-Summer $77,476 $77,076 $76,707 $78,687 $78,095 $84,688 $86,488 $86,146 $86,017 $88,488 $97,469 $96,982 $99,598 $99,530 $100,112 $111,417 Huron Clinton Metropolitan Authority (HCMA) $2,944 $2,928 $2,914 $2,990 $2,967 $3,218 $3,286 $3,273 $3,268 $3,362 $3,703 $3,685 $3,784 $3,781 $3,804 $4,233 Wayne County Community College $44,453 $44,223 $44,012 $45,148 $44,808 $48,591 $49,624 $49,428 $49,354 $50,771 $55,924 $55,645 $57,146 $57,107 $57,441 $63,927 City Debt $129,844 $129,173 $128,555 $131,874 $130,881 $141,931 $144,946 $144,374 $144,157 $148,298 $163,351 $162,534 $166,918 $166,804 $167,780 $186,726 School Debt $178,318 $177,396 $176,547 $181,105 $179,742 $194,916 $199,058 $198,272 $197,975 $203,661 $224,333 $223,212 $229,231 $229,075 $230,416 $256,434 Total $770,232 $766,247 $762,582 $782,269 $776,383 $841,926 $859,816 $856,421 $855,136 $879,698 $968,989 $964,148 $990,148 $989,472 $995,263 $1,107,648 Non-Capturable Millages: DIA Tax $2,743 $2,729 $2,716 $2,786 $2,765 $2,999 $3,062 $3,050 $3,046 $3,133 $3,451 $3,434 $3,527 $3,524 $3,545 $3,945 Zoo Tax $1,372 $1,365 $1,358 $1,393 $1,383 $1,499 $1,531 $1,525 $1,523 $1,567 $1,726 $1,717 $1,763 $1,762 $1,772 $1,973 Total $4,115 $4,094 $4,074 $4,179 $4,148 $4,498 $4,594 $4,576 $4,569 $4,700 $5,177 $5,151 $5,290 $5,286 $5,317 $5,918 Total Mills Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) $82,301 $81,875 $81,483 $83,587 $82,958 $89,961 $91,873 $91,510 $91,373 $93,997 $103,538 $103,021 $105,799 $105,727 $106,346 $118,354 Captured School Taxes (School Oper) $214,674 $218,220 $221,918 $228,235 $231,946 $243,419 $249,934 $254,313 $259,060 $266,715 $281,437 $286,257 $294,532 $300,122 $306,573 $324,588 Total Captured Incremental School Taxes $296,975 $300,095 $303,402 $311,822 $314,904 $333,380 $341,807 $345,823 $350,433 $360,712 $384,976 $389,278 $400,331 $405,849 $412,918 $442,942 Captured Non-school Taxes (Wayne Co Winter) $29,816 $29,662 $29,520 $30,282 $30,054 $32,592 $33,284 $33,153 $33,103 $34,054 $37,510 $37,323 $38,329 $38,303 $38,527 $42,878 Captured Non-school Taxes (RESA) $74,953 $74,565 $74,208 $76,124 $75,551 $81,929 $83,670 $83,340 $83,215 $85,605 $94,294 $93,823 $96,353 $96,287 $96,851 $107,787 Total Captured Incremental Non-School Taxes $104,769 $104,227 $103,728 $106,406 $105,606 $114,521 $116,954 $116,492 $116,318 $119,659 $131,804 $131,146 $134,682 $134,590 $135,378 $150, Total Captured Incremental Taxes $401,744 $404,322 $407,130 $418,228 $420,509 $447,901 $458,761 $462,316 $466,750 $480,371 $516,780 $520,424 $535,014 $540,439 $548,297 $593, Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund 108 Adjusted Captured Non-School Taxes (Wayne Co $60,262 $41,150 $88,851 $40,937 $90,229 $40,742 $25,000 $41,793 $25,000 $41,479 $25,000 $44,981 $25,000 $45,936 $25,000 $45,755 $25,000 $45,686 $25,000 $46,999 $25,000 $51,769 $25,000 $51,510 $25,000 $52,900 $25,000 $52,863 $25,000 $53,173 $25,000 $59, Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 113 Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes $12,666 $31,841 $41,150 $214,674 $300,332 $300,332 $255,825 $44,507 $4,376 $11,000 $40,937 $218,220 $274,533 $274,533 $259,157 $15,376 $3,842 $9,657 $40,742 $221,918 $276,159 $276,159 $262,660 $13,499 $23,167 $58,239 $41,793 $228,235 $351,435 $351,435 $270,029 $81,406 $22,940 $57,666 $41,479 $231,946 $354,030 $354,030 $273,425 $80,606 $25,477 $64,044 $44,981 $243,419 $377,920 $377,920 $288,399 $89,521 $26,169 $65,785 $45,936 $249,934 $387,825 $387,825 $295,870 $91,954 $26,038 $65,455 $45,755 $254,313 $391,561 $391,561 $300,068 $91,492 $25,988 $65,330 $45,686 $259,060 $396,064 $396,064 $304,746 $91,318 $26,939 $67,720 $46,999 $266,715 $408,372 $408,372 $313,714 $94,659 $30,395 $76,409 $51,769 $281,437 $440,011 $440,011 $333,206 $106,804 $30,208 $75,938 $51,510 $286,257 $443,913 $443,913 $337,768 $106,146 $31,215 $78,468 $52,900 $294,532 $457,114 $457,114 $347,432 $109,682 $31,188 $78,402 $52,863 $300,122 $462,576 $462,576 $352,986 $109,590 $31,413 $78,966 $53,173 $306,573 $470,124 $470,124 $359,746 $110,378 $35,763 $89,902 $59,177 $324,588 $509,430 $509,430 $383,765 $125, Unreimbursed MSF Expenses 127 ######### $17,711,349 $17,711,349 $17,711,349 $17,411,017 $17,136,484 $16,860,324 $16,508,890 $16,154,860 $15,776,939 $15,389,114 $14,997,554 $14,601,490 $14,193,118 $13,753,107 $13,309,194 $12,852,079 $12,389,504 $11,919,380 $11,409, Adjusted for State Brownfield Redevelopment Fund. 25 years maximum. 4 Brownfield plan eligible expense ratio 5 Tax ratio (weighted average) MDEQ 0.00% School Tax 77.32% Eligible activity school/local reimbursement breakdown Local Site Remediation Revolving Fund (LSRRF) school/local reimbursement breakdown 1 Annual DBRA administrative fee includes project's 132 allocated portion of estimated total. MSF $17,711, % Non-school Tax 22.68% TOTAL SCHOOL LOCAL TOTAL SCHOOL LOCAL 133 TOTAL $17,711,349 MDEQ MEGA #REF! #REF! 134 MSF $17,711,349 $13,694,865 $4,016,484 MEDQ #VALUE! #VALUE! #VALUE! 2 Adjusted for DBRA administrative fee-which is taken 5 School Taxes, for eligible activity reimbursement, are capped at the amount that would be 6 MEGA school taxes are not eligible for deposit into the revolving fund. 135 from non-school taxes only. 136 paid for the eligible expenses--using tax ratio applicable to each particular year. MDEQ school taxes are eligible but are capped at the amount of school tax 144 Note: This schedule Includes approximately combined mills from county winter, jail and parks millage not captured by the City of Detroit DDA and therefore required to be captured during the capture period pursuant to MCL (2)(c).

99 B Attachment F4 to DBRA Transformational Brownfield Plan (B Estimated Tax Increment Revenue One Campus Martius Expansion Tax Year 5 8 Initial Taxable Value Inflation: 9 Total Taxable Value 3.00% 10 Captured Taxable Value 3.00% Building Land Personal Property Total Captured Taxable Value 15 Taxes Captured by DDA through 2019, then Captured by Brownfield Authority Millage School Operating State Education Tax Wayne County ISD (RESA) Wayne County Special RESA ENH Total Taxes Remitted to Wayne County through 2019, then Captured by Brownfield Authority Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total Non-Capturable Millages: DIA Tax Zoo Tax Total Total Mills Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund Adjusted Captured Non-School Taxes (Wayne Co 109 Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) Adjusted Captured School Taxes (School Oper) 113 Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes 125 Unreimbursed MSF Expenses 127 D Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AP Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 $19,702,118 $19,804,859 $20,395,785 $20,520,766 $22,129,663 $22,716,003 $22,847,768 $23,053,561 $23,796,088 $25,441,852 $25,651,137 $26,408,769 $26,659,999 $27,034,299 $19,702,118 $19,804,859 $20,395,785 $20,520,766 $22,129,663 $22,716,003 $22,847,768 $23,053,561 $23,796,088 $25,441,852 $25,651,137 $26,408,769 $26,659,999 $27,034,299 $17,701,736 $18,232,788 $18,779,771 $19,343,164 $19,923,459 $20,521,163 $21,136,798 $21,770,902 $22,424,029 $23,096,750 $23,789,652 $24,503,342 $25,238,442 $25,995,595 $2,000,383 $1,572,072 $1,616,014 $1,177,602 $2,206,204 $2,194,840 $1,710,970 $1,282,659 $1,372,059 $2,345,102 $1,861,485 $1,905,427 $1,421,557 $1,038,704 $19,702,118 $19,804,859 $20,395,785 $20,520,766 $22,129,663 $22,716,003 $22,847,768 $23,053,561 $23,796,088 $25,441,852 $25,651,137 $26,408,769 $26,659,999 $27,034,299 $330,634 $337,623 $347,732 $355,243 $371,859 $382,550 $390,728 $399,572 $411,865 $429,812 $439,383 $452,493 $462,821 $474,153 $9,768,411 $118,213 $118,829 $122,375 $123,125 $132,778 $136,296 $137,087 $138,321 $142,777 $152,651 $153,907 $158,453 $159,960 $162,206 $3,470,680 $68,254 $68,610 $70,657 $71,090 $76,664 $78,695 $79,152 $79,864 $82,437 $88,138 $88,863 $91,488 $92,358 $93,655 $2,003,913 $39,404 $39,610 $40,792 $41,042 $44,259 $45,432 $45,696 $46,107 $47,592 $50,884 $51,302 $52,818 $53,320 $54,069 $1,156,893 $556,505 $564,671 $581,555 $590,499 $625,561 $642,973 $652,662 $663,865 $684,670 $721,485 $733,455 $755,251 $768,460 $784,082 $16,399,897 $19,499 $19,601 $20,186 $20,309 $21,902 $22,482 $22,612 $22,816 $23,551 $25,180 $25,387 $26,137 $26,385 $26,756 $572,489 $4,845 $4,870 $5,015 $5,046 $5,442 $5,586 $5,618 $5,669 $5,851 $6,256 $6,308 $6,494 $6,556 $6,648 $142,240 $18,483 $18,579 $19,133 $19,251 $20,760 $21,310 $21,433 $21,627 $22,323 $23,867 $24,063 $24,774 $25,010 $25,361 $542,641 $42,826 $43,050 $44,334 $44,606 $48,103 $49,378 $49,664 $50,112 $51,726 $55,303 $55,758 $57,405 $57,951 $58,764 $1,257,369 $393,097 $395,147 $406,937 $409,430 $441,531 $453,230 $455,859 $459,965 $474,780 $507,616 $511,791 $526,908 $531,920 $539,388 $11,541,168 $91,235 $91,710 $94,447 $95,026 $102,476 $105,191 $105,801 $106,754 $110,193 $117,814 $118,783 $122,291 $123,454 $125,188 $2,678,613 $111,283 $111,864 $115,202 $115,907 $124,995 $128,307 $129,051 $130,213 $134,407 $143,703 $144,885 $149,165 $150,584 $152,698 $3,267,240 $4,228 $4,250 $4,377 $4,404 $4,749 $4,875 $4,903 $4,947 $5,107 $5,460 $5,505 $5,667 $5,721 $5,802 $124,135 $63,851 $64,184 $66,099 $66,504 $71,718 $73,618 $74,045 $74,712 $77,118 $82,452 $83,130 $85,586 $86,400 $87,613 $1,874,630 $186,502 $187,475 $193,069 $194,252 $209,482 $215,032 $216,279 $218,227 $225,256 $240,835 $242,816 $249,988 $252,366 $255,909 $5,475,634 $256,128 $257,463 $265,145 $266,770 $287,686 $295,308 $297,021 $299,696 $309,349 $330,744 $333,465 $343,314 $346,580 $351,446 $7,519,806 $1,106,323 $1,112,092 $1,145,274 $1,152,292 $1,242,636 $1,275,560 $1,282,959 $1,294,515 $1,336,210 $1,428,624 $1,440,375 $1,482,918 $1,497,026 $1,518,043 $32,481,226 $3,940 $3,961 $4,079 $4,104 $4,426 $4,543 $4,570 $4,611 $4,759 $5,088 $5,130 $5,282 $5,332 $5,407 $115,689 $1,970 $1,980 $2,040 $2,052 $2,213 $2,272 $2,285 $2,305 $2,380 $2,544 $2,565 $2,641 $2,666 $2,703 $57,845 $5,911 $5,941 $6,119 $6,156 $6,639 $6,815 $6,854 $6,916 $7,139 $7,633 $7,695 $7,923 $7,998 $8,110 $173,534 $118,213 $118,829 $122,375 $123,125 $132,778 $136,296 $137,087 $138,321 $142,777 $152,651 $153,907 $158,453 $159,960 $162,206 $3,470,680 $330,634 $337,623 $347,732 $355,243 $371,859 $382,550 $390,728 $399,572 $411,865 $429,812 $439,383 $452,493 $462,821 $474,153 $9,768,411 $448,846 $456,452 $470,107 $478,367 $504,637 $518,846 $527,815 $537,894 $554,641 $582,463 $593,289 $610,945 $622,781 $636,359 $13,239,091 $42,826 $43,050 $44,334 $44,606 $48,103 $49,378 $49,664 $50,112 $51,726 $55,303 $55,758 $57,405 $57,951 $58,764 $1,257,369 $107,658 $108,220 $111,449 $112,132 $120,923 $124,127 $124,847 $125,972 $130,029 $139,022 $140,166 $144,305 $145,678 $147,724 $3,160,806 $150,485 $151,270 $155,783 $156,738 $169,026 $173,505 $174,511 $176,083 $181,755 $194,325 $195,923 $201,710 $203,629 $206,488 $4,418,176 $599,331 $607,721 $625,890 $635,105 $673,664 $692,351 $702,326 $713,977 $736,396 $776,788 $789,213 $812,656 $826,410 $842,847 $17,657,266 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $914,341 $59,106 $59,415 $61,187 $61,562 $66,389 $68,148 $68,543 $69,161 $71,388 $1,341,752 $35,712 $35,935 $37,220 $37,491 $40,988 $42,263 $42,549 $42,997 $44,611 $48,188 $48,643 $50,290 $50,836 $51,650 $997,157 $89,773 $90,334 $93,563 $94,246 $103,038 $106,242 $106,962 $108,086 $112,144 $121,137 $122,280 $126,420 $127,793 $129,838 $2,506,677 $59,106 $59,415 $61,187 $61,562 $66,389 $68,148 $68,543 $69,161 $71,388 $152,651 $153,907 $158,453 $159,960 $162,206 $2,128,928 $330,634 $337,623 $347,732 $355,243 $371,859 $382,550 $390,728 $399,572 $411,865 $429,812 $439,383 $452,493 $462,821 $474,153 $9,768,411 $515,225 $523,307 $539,702 $548,542 $582,275 $599,203 $608,783 $619,816 $640,008 $751,788 $764,213 $787,656 $801,410 $817,847 $15,401,173 $515,225 $523,307 $539,702 $548,542 $582,275 $599,203 $608,783 $619,816 $640,008 $751,788 $764,213 $787,656 $801,410 $817,847 $15,401,173 $389,740 $397,037 $408,919 $416,805 $438,248 $450,698 $459,271 $468,733 $483,253 $582,463 $593,289 $610,945 $622,781 $636,359 $11,897,339 $125,485 $126,270 $130,783 $131,738 $144,026 $148,505 $149,511 $151,083 $156,755 $169,325 $170,923 $176,710 $178,629 $181,488 $3,503,834 $10,894,725 $10,371,418 $9,831,716 $9,283,174 $8,700,899 $8,101,696 $7,492,913 $6,873,097 $6,233,090 $5,481,301 $4,717,089 $3,929,433 $3,128,023 $2,310,176 TOTALS

100 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE Attachment F4 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue One Campus Martius Expansion Tax Capture from Property Taxes (from previous page) Construction Sales/Use Tax Exemption 2017 $ - $ $ - $ 1,851, $ - $ 925, $ 300,332 $ $ 274,533 $ $ 276,159 $ $ 351,435 $ $ 354,030 $ $ 377,920 $ $ 387,825 $ $ 391,561 $ $ 396,064 $ $ 408,372 $ $ 440,011 $ $ 443,913 $ $ 457,114 $ $ 462,576 $ $ 470,124 $ $ 509,430 $ $ 515,225 $ $ 523,307 $ $ 539,702 $ $ 548,542 $ $ 582,275 $ Hard Costs (HC) Percentage of HC = Materials Sales/Use Tax (Constr.) - $ 77,166, % 6.00% 15 Construction Period Tax Capture Revenues $ - $ 555,001 $ 277,501 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Hard Costs (HC) Percentage of HC = Wages State Income Tax % Captured (Constr.) $ 77,166, % 4.25% 91.18% Withholding Tax Capture Revenues Food & Soft Retail Office Hotel Beverage Event Space Auditorium/Conf $ - $ - $ - $ 1,837,037 $ 2,007,973 $ 2,048,132 $ 2,089,095 $ 2,130,877 $ 2,173,494 $ 2,216,964 $ 2,261,304 $ 2,306,530 $ 2,352,660 $ 2,399,713 $ 2,447,708 $ 2,496,662 $ 2,546,595 $ 2,597,527 $ 2,649,478 $ 2,702,467 $ 2,756,516 $ 2,811,647 $ 2,867,880 $ - Rental Square Footage (SF) - 237, ,500 SF per Employee Employees - 1, Avg. Salary $ - $ 85,000 $ - $ - $ - $ 40,000 Salary Incr. 0.00% 2.00% 0.00% 0.00% 0.00% 2.00% State Income Tax Rate 4.25% 4.25% 0.00% 4.25% 4.25% 4.25% % of Wages Subject to Withholding 87.06% 82.06% 0.00% 87.06% 87.06% 87.06% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ Absorption/Vacancy PIS Year 0.00% 70.83% 0.00% 0.00% 0.00% 70.83% Year after PIS Year 0.00% 15.83% 0.00% 0.00% 0.00% 15.83% Ongoing 0.00% 10.00% 0.00% 0.00% 0.00% 0.00% Income Tax Capture Revenues (State) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - # of Units - Rentable Square Footage (SF) - Total Projected Annual Potential Residential Rent $ - 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ - Wage Increase (per year) 0.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ - 1st year of operations Absorption/Vacancy PIS Year 0.00% Year after PIS Year 0.00% Ongoing 0.00% Income Tax Capture Revenues (City) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption $ - $ 2,406,991 $ 1,203,495 $ 2,137,369 $ 2,282,506 $ 2,324,292 $ 2,440,530 $ 2,484,907 $ 2,551,415 $ 2,604,789 $ 2,652,864 $ 2,702,594 $ 2,761,033 $ 2,839,724 $ 2,891,621 $ 2,953,776 $ 3,009,171 $ 3,067,651 $ 3,158,908 $ 3,217,692 $ 3,279,823 $ 3,351,349 $ 3,416,422 $ 582,275

101 A B C D E F G Attachment F4 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue One Campus Martius Expansion Tax Capture from Property Taxes (from previous page) Construction Sales/Use Tax Exemption Hard Costs (HC) Percentage of HC = Materials Sales/Use Tax (Constr.) - Construction Period Tax Capture Revenues Hard Costs (HC) Percentage of HC = Wages State Income Tax % Captured (Constr.) $ 77,166, % 6.00% $ 77,166, % 4.25% 91.18% Withholding Tax Capture Revenues Food & Beverage Event Space Auditorium/Conf Soft Retail Office Hotel Rental Square Footage (SF) - 237, ,500 SF per Employee Employees - 1, Avg. Salary $ - $ 85,000 $ - $ - $ - $ 40,000 Salary Incr. 0.00% 2.00% 0.00% 0.00% 0.00% 2.00% State Income Tax Rate 4.25% 4.25% 0.00% 4.25% 4.25% 4.25% % of Wages Subject to Withholding 87.06% 82.06% 0.00% 87.06% 87.06% 87.06% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ Absorption/Vacancy PIS Year 0.00% 70.83% 0.00% 0.00% 0.00% 70.83% Year after PIS Year 0.00% 15.83% 0.00% 0.00% 0.00% 15.83% Ongoing 0.00% 10.00% 0.00% 0.00% 0.00% 0.00% Income Tax Capture Revenues (State) # of Units - Rentable Square Footage (SF) - Total Projected Annual Potential Residential Rent $ - 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ - Wage Increase (per year) 0.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ - 1st year of operations Absorption/Vacancy PIS Year 0.00% Year after PIS Year 0.00% Ongoing 0.00% Income Tax Capture Revenues (City) City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption AF AG AH AI AJ AK AL AM AN AO AP AQ AR Total $ 599,203 $ 608,783 $ 619,816 $ 640,008 $ 751,788 $ 764,213 $ 787,656 $ 801,410 $ 817,847 $ - $ - $ - $ 15,401,173 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,777,985 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 832,502 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 47,700,259 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 599,203 $ 608,783 $ 619,816 $ 640,008 $ 751,788 $ 764,213 $ 787,656 $ 801,410 $ 817,847 $ - $ - $ - $ 66,711,919

102 B D F G H I J K L M N O P Q R S T U V W X Y Attachment F5 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Book Building and Book Tower Tax Year Initial Taxable Value Inflation: 2017 $974, $974, $974, $974, Year 1 $974, Year 2 $974, Year 3 $974, Year 4 $974, Year 5 $974, Year 6 $974, Year 7 $974, Year 8 $974, Year 9 $974, Year 10 $974, Year 11 $974, Year 12 $974, Year 13 $974, Year 14 $974, Year 15 $974, Year 16 $974,739 9 Total Taxable Value 3.00% $974,739 $998,283 $1,022,534 $1,047,513 $24,559,738 $25,050,596 $25,568,034 $26,537,990 $26,996,459 $28,856,599 $29,709,967 $30,125,786 $30,580,577 $31,553,968 $33,400,202 $33,877,952 $35,230,287 $35,672,216 $36,258,726 $39,017, Captured Taxable Value 3.00% $23,544 $47,795 $72,774 $23,584,999 $24,075,857 $24,593,295 $25,563,251 $26,021,720 $27,881,860 $28,735,228 $29,151,047 $29,605,838 $30,579,229 $32,425,463 $32,903,213 $34,255,548 $34,697,477 $35,283,987 $38,042, Building Land Personal Property Total Captured Taxable Value $1,861 $21,684 $23,544 $3,778 $44,018 $47,795 $5,752 $67,022 $72,774 $22,125,272 $90,716 $1,369,011 $23,584,999 $22,796,589 $115,121 $1,164,147 $24,075,857 $23,488,045 $140,258 $964,991 $24,593,295 $24,200,245 $166,149 $1,196,856 $25,563,251 $24,933,811 $192,817 $895,092 $26,021,720 $25,689,384 $220,285 $1,972,191 $27,881,860 $26,467,624 $248,578 $2,019,026 $28,735,228 $27,269,212 $277,718 $1,604,117 $29,151,047 $28,094,847 $307,734 $1,203,258 $29,605,838 $28,945,251 $338,649 $1,295,329 $30,579,229 $29,821,167 $370,492 $2,233,804 $32,425,463 $30,723,360 $403,290 $1,776,562 $32,903,213 $31,652,620 $437,073 $2,165,855 $34,255,548 $32,609,757 $471,868 $1,615,851 $34,697,477 $33,595,608 $507,708 $1,180,671 $35,283,987 $34,611,035 $544,623 $2,886,659 $38,042, Taxes Captured by DDA through 2020, then Captured by Brownfield Authority Millage** School Operating $424 $860 $1,310 $310,052 $318,371 $327,011 $338,532 $347,154 $364,363 $375,713 $384,624 $393,962 $406,610 $424,699 $434,787 $450,339 $460,652 $472,063 $650,122 State Education Tax $141 $287 $437 $108,827 $110,780 $112,864 $117,631 $119,298 $129,343 $133,314 $134,625 $136,134 $140,718 $150,501 $152,035 $158,777 $160,014 $162,077 $228,254 Wayne County ISD (RESA) $82 $166 $252 $5,057 $4,432 $3,829 $4,722 $3,769 $7,595 $7,856 $6,519 $5,235 $5,661 $9,022 $7,552 $91,675 $92,390 $93,581 $131,790 Wayne County Special RESA ENH $47 $96 $146 $2,919 $2,559 $2,210 $2,726 $2,176 $4,385 $4,535 $3,764 $3,022 $3,268 $5,209 $4,360 $52,926 $53,338 $54,026 $76,085 Total $694 $1,408 $2,144 $426,856 $436,142 $445,914 $463,611 $472,397 $505,687 $521,418 $529,532 $538,352 $556,256 $589,431 $598,733 $753,716 $766,394 $781,746 $1,086,250 Taxes Remitted to Wayne County through 2020, then Captured by Brownfield Authority Wayne County Operating-Winter $23 $47 $72 $1,445 $1,266 $1,094 $1,349 $1,077 $2,170 $2,244 $1,862 $1,495 $1,617 $2,577 $2,157 $26,190 $26,394 $26,735 $37,650 Wayne County Parks-Winter $6 $12 $18 $359 $315 $272 $335 $268 $539 $558 $463 $372 $402 $640 $536 $6,507 $6,558 $6,642 $9,355 Wayne County Jail-Winter $22 $45 $68 $1,369 $1,200 $1,037 $1,279 $1,021 $2,057 $2,127 $1,765 $1,417 $1,533 $2,443 $2,045 $24,825 $25,018 $25,341 $35,687 Total $51 $104 $158 $3,173 $2,781 $2,402 $2,963 $2,365 $4,766 $4,929 $4,091 $3,284 $3,552 $5,661 $4,738 $57,522 $57,970 $58,718 $82,693 Taxes Captured by DDA City Operating $470 $954 $1,452 $29,124 $25,524 $22,052 $27,195 $21,706 $43,744 $45,243 $37,546 $30,147 $32,601 $51,961 $43,492 $527,985 $532,101 $538,960 $759,020 Library $109 $221 $337 $6,760 $5,924 $5,118 $6,312 $5,038 $10,153 $10,501 $8,714 $6,997 $7,566 $12,060 $10,094 $122,541 $123,496 $125,088 $176,163 Wayne County Operating-Summer $133 $270 $411 $8,245 $7,226 $6,243 $7,699 $6,145 $12,384 $12,808 $10,629 $8,535 $9,229 $14,710 $12,312 $149,470 $150,635 $152,577 $214,874 Huron Clinton Metropolitan Authority (HCMA) $5 $10 $16 $313 $275 $237 $293 $233 $471 $487 $404 $324 $351 $559 $468 $5,679 $5,723 $5,797 $8,164 Wayne County Community College $76 $155 $236 $4,731 $4,146 $3,582 $4,417 $3,526 $7,105 $7,349 $6,099 $4,897 $5,295 $8,440 $7,064 $85,760 $86,429 $87,543 $123,288 City Debt $223 $452 $689 $13,818 $12,110 $10,462 $12,902 $10,298 $20,754 $21,465 $17,814 $14,303 $15,467 $24,653 $20,635 $250,499 $252,452 $255,706 $360,112 School Debt $306 $621 $946 $18,976 $16,630 $14,368 $17,719 $14,143 $28,502 $29,479 $24,464 $19,643 $21,242 $33,856 $28,338 $344,016 $346,697 $351,167 $494,550 Total $1,322 $2,684 $4,086 $81,967 $71,834 $62,063 $76,536 $61,089 $123,113 $127,332 $105,670 $84,846 $91,752 $146,238 $122,404 $1,485,950 $1,497,533 $1,516,838 $2,136,171 Non-Capturable Millages DIA Tax $5 $10 $15 $292 $256 $221 $273 $218 $438 $454 $376 $302 $327 $521 $436 $5,293 $5,334 $5,403 $7,608 Zoo Tax $2 $5 $7 $146 $128 $111 $136 $109 $219 $227 $188 $151 $163 $260 $218 $2,646 $2,667 $2,701 $3,804 Total $7 $14 $22 $438 $384 $332 $409 $326 $658 $680 $565 $453 $490 $781 $654 $7,939 $8,001 $8,104 $11,413 Total Mills NEZ Specific Tax - Total* $605,307 $651,484 $699,895 NEZ Specific Tax Capture - schools 27.24% $187,027 $192,683 $198,508 NEZ Specific Tax Capture - non-schools 8.67% $53,169 $56,958 $60,928 Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) $108,827 $110,780 $112,864 $117,631 $119,298 $129,343 $133,314 $134,625 $136,134 $140,718 $150,501 $152,035 $205,533 $208,185 $211,704 $228,254 Captured School Taxes (School Oper) $310,052 $318,371 $327,011 $338,532 $347,154 $364,363 $375,713 $384,624 $393,962 $406,610 $424,699 $434,787 $590,610 $605,164 $620,944 $650,122 Total Captured Incremental School Taxes $418,879 $429,152 $439,874 $456,163 $466,453 $493,706 $509,027 $519,249 $530,096 $547,328 $575,200 $586,822 $796,143 $813,349 $832,648 $878,376 Captured Non-school Taxes (Wayne Co Winter) $3,173 $2,781 $2,402 $2,963 $2,365 $4,766 $4,929 $4,091 $3,284 $3,552 $5,661 $4,738 $72,654 $74,180 $76,057 $82,693 Captured Non-school Taxes (RESA) $7,976 $6,990 $6,039 $7,448 $5,945 $11,980 $12,391 $10,283 $8,257 $8,929 $14,231 $11,911 $182,638 $186,476 $191,194 $207, Total Captured Incremental Non-School Taxes $11,149 $9,771 $8,442 $10,411 $8,309 $16,746 $17,320 $14,373 $11,541 $12,480 $19,892 $16,650 $255,292 $260,656 $267,252 $290, Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund 111 Adjusted Captured Non-School Taxes (Wayne Co $430,029 $11,149 $54,413 $438,923 $9,771 $55,390 $448,316 $8,442 $56,432 $466,573 $10,411 $58,816 $474,762 $8,309 $59,649 $510,453 $8,183 $64,672 $526,347 $7,000 $66,657 $533,623 $7,000 $67,312 $541,637 $7,000 $68,067 $559,808 $7,000 $70,359 $595,092 $7,000 $75,251 $603,472 $7,000 $76,018 $1,051,435 $25,000 $102,767 $1,074,006 $25,000 $104,092 $1,099,899 $25,000 $105,852 $1,168,943 $25,000 $114, Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) 115 Adjusted Captured School Taxes (School Oper) Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes $54,413 $310,052 $364,466 $364,466 $364,466 $55,390 $318,371 $373,762 $373,762 $373,762 $56,432 $327,011 $383,443 $383,443 $383,443 $58,816 $338,532 $397,347 $397,347 $397,347 $59,649 $347,154 $406,804 $406,804 $406,804 $2,437 $6,126 $64,672 $364,363 $437,598 $437,598 $429,035 $8,564 $2,937 $7,383 $66,657 $375,713 $452,690 $452,690 $442,370 $10,320 $2,098 $5,275 $67,312 $384,624 $459,310 $459,310 $451,937 $7,373 $1,292 $3,249 $68,067 $393,962 $466,570 $466,570 $462,029 $4,541 $1,560 $3,921 $70,359 $406,610 $482,449 $482,449 $476,969 $5,480 $3,669 $9,223 $75,251 $424,699 $512,841 $512,841 $499,949 $12,892 $2,746 $6,904 $76,018 $434,787 $520,454 $520,454 $510,804 $9,650 $65,539 $164,753 $102,767 $590,610 $923,668 $923,668 $693,376 $230,292 $67,066 $168,591 $104,092 $605,164 $944,913 $944,913 $709,257 $235,656 $68,942 $173,309 $105,852 $620,944 $969,047 $969,047 $726,796 $242,252 $75,578 $189,989 $114,127 $650,122 $1,029,816 $1,029,816 $764,249 $265, Unreimbursed MSF Expenses 130 $31,976,103 $31,976,103 $31,976,103 $31,976,103 $31,611,638 $31,237,876 $30,854,433 $30,457,086 $30,050,283 $29,612,684 $29,159,994 $28,700,684 $28,234,114 $27,751,665 $27,238,824 $26,718,370 $25,794,702 $24,849,789 $23,880,742 $22,850, Annual DBRA administrative fee includes project's 135 allocated portion of estimated total. 3 Adjusted for State Brownfield Redevelopment Fund. 25 years maximum. 4 Brownfield plan eligible expense ratio 5 Tax ratio (weighted average) MDEQ 0.00% School Tax 79.56% Eligible activity school/local reimbursement breakdown Local Site Remediation Revolving Fund (LSRRF) school/local reimbursement breakdown MSF $31,976, % Non-school Tax 20.44% TOTAL SCHOOL LOCAL TOTAL SCHOOL LOCAL 136 TOTAL $31,976,103 MDEQ MEGA #REF! #REF! 137 MSF $31,976,103 $25,439,481 $6,536,622 MEDQ #VALUE! #VALUE! #VALUE! 6 MEGA school taxes are not eligible for deposit into the revolving fund. 2 Adjusted for DBRA administrative fee-which is taken 5 School Taxes, for eligible activity reimbursement, are capped at the amount that would be MDEQ school taxes are eligible but are capped at the amount of school tax 138 from non-school taxes only. 140 paid for the eligible expenses--using tax ratio applicable to each particular year. capture approved for eligible activity reimbursement. 141 *NEZ Specific Tax for a rehabilitated facility for the first 12 years of the abatement period is equal to the taxable value of the rehabilitated facility (excluding land) as of December 31 of the year preceding the year of substantial completion multiplied by the total mills collected under the general property tax act. Years of the abatement have special phase out calculations where 5/8, 3/4 and 7/8 of operating mills and 100% of remaining mills are paid on the c 166 **Includes all taxes other than NEZ specific tax which is calculated separately in the following section. 167 Note: This schedule assumes that the property tax abatements will be requested and approved as presented 168 This schedule Includes approximately combined mills from county winter, jail and parks millage not captured by the City of Detroit DDA and therefore required to be captured during the capture period pursuant to MCL (2)(c).

103 B D Attachment F5 to DBRA Transformational Brownfield Plan (B Estimated Tax Increment Revenue Book Building and Book Tower Tax Year 5 8 Initial Taxable Value Inflation: 9 Total Taxable Value 3.00% 10 Captured Taxable Value 3.00% Building Land Personal Property Total Captured Taxable Value Taxes Captured by DDA through 2020, then Captured by Brownfield Authority Millage** School Operating State Education Tax Wayne County ISD (RESA) Wayne County Special RESA ENH Total Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AO Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $974,739 $39,488,098 $40,117,676 $41,317,547 $42,003,633 $44,392,774 $45,636,408 $46,380,651 $47,226,875 $48,701,561 $51,221,856 $52,128,826 $53,679,162 $54,674,557 $55,831,138 $38,513,359 $39,142,937 $40,342,808 $41,028,894 $43,418,035 $44,661,669 $45,405,912 $46,252,136 $47,726,822 $50,247,117 $51,154,087 $52,704,423 $53,699,818 $54,856,399 $35,656,925 $36,734,191 $37,843,776 $38,986,647 $40,163,805 $41,376,278 $42,625,125 $43,911,438 $45,236,339 $46,600,988 $48,006,576 $49,454,332 $50,945,521 $52,481,445 $582,645 $621,808 $662,146 $703,694 $746,488 $790,566 $835,967 $882,729 $930,895 $980,505 $1,031,604 $1,084,236 $1,138,446 $1,194,283 $2,273,789 $1,786,938 $1,836,886 $1,338,553 $2,507,742 $2,494,824 $1,944,820 $1,457,969 $1,559,588 $2,665,624 $2,115,907 $2,165,855 $1,615,851 $1,180,671 $38,513,359 $39,142,937 $40,342,808 $41,028,894 $43,418,035 $44,661,669 $45,405,912 $46,252,136 $47,726,822 $50,247,117 $51,154,087 $52,704,423 $53,699,818 $54,856,399 $665,955 $683,130 $704,128 $722,457 $751,432 $773,972 $793,969 $815,043 $840,368 $872,461 $895,383 $922,689 $947,207 $973,247 $17,823,088 $231,080 $234,858 $242,057 $246,173 $260,508 $267,970 $272,435 $277,513 $286,361 $301,483 $306,925 $316,227 $322,199 $329,138 $6,150,983 $133,422 $135,603 $139,760 $142,136 $150,413 $154,721 $157,300 $160,231 $165,340 $174,071 $177,213 $182,584 $186,032 $190,039 $2,730,047 $77,027 $78,286 $80,686 $82,058 $86,836 $89,323 $90,812 $92,504 $95,454 $100,494 $102,308 $105,409 $107,400 $109,713 $1,576,103 $1,107,484 $1,131,876 $1,166,630 $1,192,825 $1,249,189 $1,285,987 $1,314,516 $1,345,291 $1,387,522 $1,448,509 $1,481,828 $1,526,909 $1,562,837 $1,602,137 $28,280,222 TOTALS Taxes Remitted to Wayne County through 2020, then Captured by Brownfield Authority Wayne County Operating-Winter Wayne County Parks-Winter Wayne County Jail-Winter Total Taxes Captured by DDA City Operating Library Wayne County Operating-Summer Huron Clinton Metropolitan Authority (HCMA) Wayne County Community College City Debt School Debt Total Non-Capturable Millages DIA Tax Zoo Tax Total Total Mills NEZ Specific Tax - Total* NEZ Specific Tax Capture - schools 27.24% NEZ Specific Tax Capture - non-schools 8.67% Incremental Taxes Capturable by Brownfield Authority Captured School Taxes (SET) Captured School Taxes (School Oper) Total Captured Incremental School Taxes Captured Non-school Taxes (Wayne Co Winter) Captured Non-school Taxes (RESA) Total Captured Incremental Non-School Taxes Total Captured Incremental Taxes Annual DBRA Administrative Fee % SET to State Brownfield Redevelopment Fund Adjusted Captured Non-School Taxes (Wayne Co 112 Winter) Adjusted Captured Non-School Taxes (RESA) Adjusted Captured School Taxes (SET) 115 Adjusted Captured School Taxes (School Oper) Adjusted Total Incremental Taxes Reimbursed MSF Expenses School Taxes Non-school Taxes 128 Unreimbursed MSF Expenses 130 $38,117 $38,740 $39,927 $40,606 $42,971 $44,202 $44,938 $45,776 $47,235 $49,730 $50,627 $52,162 $53,147 $54,291 $779,935 $9,470 $9,625 $9,920 $10,089 $10,676 $10,982 $11,165 $11,373 $11,736 $12,356 $12,579 $12,960 $13,205 $13,489 $193,782 $36,129 $36,720 $37,846 $38,489 $40,730 $41,897 $42,595 $43,389 $44,773 $47,137 $47,988 $49,442 $50,376 $51,461 $739,271 $83,716 $85,085 $87,693 $89,185 $94,378 $97,081 $98,699 $100,538 $103,744 $109,222 $111,194 $114,564 $116,727 $119,241 $1,712,988 $768,419 $780,980 $804,920 $818,608 $866,277 $891,090 $905,939 $922,823 $952,246 $1,002,530 $1,020,626 $1,051,559 $1,071,419 $1,094,495 $15,723,207 $178,344 $181,259 $186,815 $189,993 $201,056 $206,815 $210,261 $214,180 $221,009 $232,679 $236,879 $244,058 $248,668 $254,024 $3,649,231 $217,535 $221,091 $227,868 $231,744 $245,238 $252,263 $256,466 $261,246 $269,575 $283,811 $288,934 $297,690 $303,313 $309,845 $4,451,152 $8,265 $8,400 $8,658 $8,805 $9,318 $9,584 $9,744 $9,926 $10,242 $10,783 $10,978 $11,310 $11,524 $11,772 $169,116 $124,814 $126,854 $130,743 $132,966 $140,709 $144,740 $147,151 $149,894 $154,673 $162,841 $165,780 $170,804 $174,030 $177,779 $2,553,918 $364,571 $370,531 $381,889 $388,384 $410,999 $422,772 $429,817 $437,827 $451,787 $475,644 $484,230 $498,905 $508,328 $519,276 $7,459,776 $500,674 $508,858 $524,456 $533,376 $564,434 $580,602 $590,277 $601,278 $620,449 $653,213 $665,003 $685,157 $698,098 $713,133 $10,244,672 $2,162,621 $2,197,974 $2,265,350 $2,303,875 $2,438,031 $2,507,864 $2,549,655 $2,597,173 $2,679,980 $2,821,501 $2,872,430 $2,959,485 $3,015,379 $3,080,324 $44,251,071 $7,703 $7,829 $8,069 $8,206 $8,684 $8,932 $9,081 $9,250 $9,545 $10,049 $10,231 $10,541 $10,740 $10,971 $157,610 $3,851 $3,914 $4,034 $4,103 $4,342 $4,466 $4,541 $4,625 $4,773 $5,025 $5,115 $5,270 $5,370 $5,486 $78,805 $11,554 $11,743 $12,103 $12,309 $13,025 $13,399 $13,622 $13,876 $14,318 $15,074 $15,346 $15,811 $16,110 $16,457 $236,415 $231,080 $234,858 $242,057 $246,173 $260,508 $267,970 $272,435 $277,513 $286,361 $301,483 $306,925 $316,227 $322,199 $329,138 $6,294,673 $665,955 $683,130 $704,128 $722,457 $751,432 $773,972 $793,969 $815,043 $840,368 $872,461 $895,383 $922,689 $947,207 $973,247 $18,254,157 $897,035 $917,987 $946,185 $968,631 $1,011,940 $1,041,942 $1,066,404 $1,092,556 $1,126,729 $1,173,943 $1,202,307 $1,238,916 $1,269,405 $1,302,386 $24,548,830 $83,716 $85,085 $87,693 $89,185 $94,378 $97,081 $98,699 $100,538 $103,744 $109,222 $111,194 $114,564 $116,727 $119,241 $1,761,355 $210,449 $213,889 $220,445 $224,194 $237,249 $244,045 $248,112 $252,736 $260,794 $274,565 $279,521 $287,993 $293,432 $299,752 $4,427,738 $294,165 $298,974 $308,138 $313,379 $331,627 $341,126 $346,810 $353,274 $364,537 $383,787 $390,715 $402,556 $410,159 $418,993 $6,189,093 $1,191,200 $1,216,961 $1,254,323 $1,282,010 $1,343,567 $1,383,068 $1,413,214 $1,445,829 $1,491,266 $1,557,731 $1,593,022 $1,641,472 $1,679,565 $1,721,379 $30,737,923 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $50,000 $573,265 $115,540 $117,429 $121,028 $123,087 $130,254 $133,985 $136,218 $138,756 $143,180 $2,359,351 $76,602 $77,970 $80,578 $82,070 $87,263 $89,966 $91,584 $93,424 $96,629 $102,107 $104,079 $107,449 $109,613 $105,012 $1,598,210 $192,563 $196,004 $202,560 $206,309 $219,364 $226,160 $230,226 $234,850 $242,908 $256,680 $261,636 $270,108 $275,547 $263,981 $4,017,618 $115,540 $117,429 $121,028 $123,087 $130,254 $133,985 $136,218 $138,756 $143,180 $301,483 $306,925 $316,227 $322,199 $329,138 $3,935,322 $665,955 $683,130 $704,128 $722,457 $751,432 $773,972 $793,969 $815,043 $840,368 $872,461 $895,383 $922,689 $947,207 $973,247 $18,254,157 $1,050,660 $1,074,532 $1,108,295 $1,133,923 $1,188,313 $1,224,083 $1,251,997 $1,282,073 $1,323,086 $1,532,731 $1,568,022 $1,616,472 $1,654,565 $1,671,379 $27,805,307 $1,050,660 $1,074,532 $1,108,295 $1,133,923 $1,188,313 $1,224,083 $1,251,997 $1,282,073 $1,323,086 $1,532,731 $1,568,022 $1,616,472 $1,654,565 $1,671,379 $27,805,307 $781,495 $800,558 $825,156 $845,544 $881,686 $907,957 $930,186 $953,799 $983,548 $1,173,943 $1,202,307 $1,238,916 $1,269,405 $1,302,386 $22,189,479 $269,165 $273,974 $283,138 $288,379 $306,627 $316,126 $321,810 $328,274 $339,537 $358,787 $365,715 $377,556 $385,159 $368,993 $5,615,828 $21,800,266 $20,725,733 $19,617,439 $18,483,516 $17,295,203 $16,071,120 $14,819,123 $13,537,050 $12,213,965 $10,681,234 $9,113,212 $7,496,739 $5,842,175 $4,170,796 $1,956,686 $578,217 $171,055

104 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF Attachment F5 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Book Building and Book Tower Tax Capture from Property Taxes (from previous page) $ - $ - $ - $ - $ 364,466 $ 373,762 $ 383,443 $ 397,347 $ 406,804 $ 437,598 $ 452,690 $ 459,310 $ 466,570 $ 482,449 $ 512,841 $ 520,454 $ 923,668 $ 944,913 $ 969,047 $ 1,029,816 $ 1,050,660 $ 1,074,532 $ 1,108,295 $ 1,133,923 $ 1,188,313 Construction Sales/Use Tax Exemption $ 254,689 $ 3,098,710 $ 3,098,710 $ 2,088,446 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 237,237,624 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues $ 76,325 $ 928,616 $ 928,616 $ 625,862 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Hard Costs (HC) $ 237,237,624 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space $ - $ - $ - $ - $ 647,297 $ 769,209 $ 784,594 $ 800,285 $ 816,291 $ 832,617 $ 849,269 $ 866,255 $ 883,580 $ 901,251 $ 919,276 $ 937,662 $ 956,415 $ 975,544 $ 995,054 $ 1,014,955 $ 1,035,255 $ 1,055,960 $ 1,077,079 $ 1,098,620 $ - Rental Square Footage (SF) 23,074 78,545 71,395-39,990 - SF per Employee ,000 - Employees Avg. Salary $ 25,522 $ 85,000 $ 23,733 $ - $ 40,000 $ - Salary Incr. 2.00% 2.00% 2.00% 0.00% 2.00% 0.00% State Income Tax Rate 4.25% 4.25% 4.25% 4.25% 4.25% 0.00% % of Wages Subject to Withholding 87.06% 82.06% 87.06% 87.06% 87.06% 0.00% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ - Absorption/Vacancy PIS Year 81.25% 81.67% 26.33% 81.25% 81.25% 0.00% Year after PIS Year 12.50% 20.00% 36.00% 12.50% 12.50% 0.00% Ongoing 0.00% 10.00% 0.00% 0.00% 0.00% 0.00% Income Tax Capture Revenues (State) $ - $ - $ - $ - $ 197,772 $ 246,967 $ 251,907 $ 256,945 $ 262,084 $ 267,325 $ 272,672 $ 278,125 $ 283,688 $ 289,361 $ 295,149 $ 301,052 $ 307,073 $ 313,214 $ 319,478 $ 325,868 $ 332,385 $ 339,033 $ 345,814 $ 352,730 $ - # of Units 95 Rentable Square Footage (SF) 105,800 Total Projected Annual Potential Residential Rent $ 3,592,968 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 13,695,819 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 73,200 1st year of operations Absorption/Vacancy PIS Year 88.75% Year after PIS Year 22.50% Ongoing 5.00% Income Tax Capture Revenues (City) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption $ 331,013 $ 4,027,326 $ 4,027,326 $ 2,714,308 $ 1,209,536 $ 1,389,938 $ 1,419,943 $ 1,454,577 $ 1,485,178 $ 1,537,541 $ 1,574,631 $ 1,603,690 $ 1,633,837 $ 1,673,062 $ 1,727,266 $ 1,759,168 $ 2,187,156 $ 2,233,671 $ 2,283,580 $ 2,370,639 $ 2,418,300 $ 2,469,525 $ 2,531,187 $ 2,585,273 $ 1,188,313

105 A B C D E F G Attachment F5 to DBRA Transformational Brownfield Plan (Bedrock Management Services LLC) Estimated Tax Increment Revenue Book Building and Book Tower Tax Capture from Property Taxes (from previous page) Construction Sales/Use Tax Exemption Hard Costs (HC) $ 237,237,624 Percentage of HC = Materials 60.00% Sales/Use Tax (Constr.) % Construction Period Tax Capture Revenues Hard Costs (HC) $ 237,237,624 Percentage of HC = Wages 27.84% State Income Tax 4.25% % Captured (Constr.) 91.18% Withholding Tax Capture Revenues Food & Exhibition Soft Retail Office Hotel Beverage Event Space Space Rental Square Footage (SF) 23,074 78,545 71,395-39,990 - SF per Employee ,000 - Employees Avg. Salary $ 25,522 $ 85,000 $ 23,733 $ - $ 40,000 $ - Salary Incr. 2.00% 2.00% 2.00% 0.00% 2.00% 0.00% State Income Tax Rate 4.25% 4.25% 4.25% 4.25% 4.25% 0.00% % of Wages Subject to Withholding 87.06% 82.06% 87.06% 87.06% 87.06% 0.00% % State Income Tax Captured 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Management Agent Wages - PSF $ $ $ $ $ $ - Absorption/Vacancy PIS Year 81.25% 81.67% 26.33% 81.25% 81.25% 0.00% Year after PIS Year 12.50% 20.00% 36.00% 12.50% 12.50% 0.00% Ongoing 0.00% 10.00% 0.00% 0.00% 0.00% 0.00% Income Tax Capture Revenues (State) # of Units 95 Rentable Square Footage (SF) 105,800 Total Projected Annual Potential Residential Rent $ 3,592,968 1st year of operations Rent to household income factor 25.00% Exclusion factor - residents work in building 4.704% Total Projected Annual Income of Residents $ 13,695,819 Wage Increase (per year) 2.00% State Income Tax Rate 4.25% % State Income Tax Captured 50.00% % of Wages Subject to Withholding 82.06% Management Agent Wages $ 73,200 1st year of operations Absorption/Vacancy PIS Year 88.75% Year after PIS Year 22.50% Ongoing 5.00% Income Tax Capture Revenues (City) City Income Tax Rate 2.40% Renaissance Zone expiration date 12/31/2025 Total Capture/Exemption AG AH AI AJ AK AL AM AN AO AP AQ AR Total $ 1,224,083 $ 1,251,997 $ 1,282,073 $ 1,323,086 $ 1,532,731 $ 1,568,022 $ 1,616,472 $ 1,654,565 $ 1,671,379 $ - $ - $ 27,805,307 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 8,540,554 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,559,419 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 18,216,470 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 5,838,641 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1,224,083 $ 1,251,997 $ 1,282,073 $ 1,323,086 $ 1,532,731 $ 1,568,022 $ 1,616,472 $ 1,654,565 $ 1,671,379 $ - $ - $ 62,960,391

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