I-1 - Development Agreement - Park 3 - Boardwalk

EXHIBIT C DEVELOPER’S ESTIMATE WORKSHEET (1) Date of Preparation: October _____, 20____. (2) Assessed Taxable Valuation of Property as of January 1, 20_____: $_____________________. (3) Base Taxable Valuation of Property: $_____________. (4) Incremental Taxable Valuation of Property (2 minus 3): $_____________________ (the “TIF Value”). (5) Current City fiscal year consolidated property tax levy rate for purposes of calculating Incremental Property Tax Revenues (the “Adjusted Levy Rate”): $_____________________ per thousand of value. (6) The TIF Value (4) factored by the Adjusted Levy Rate (5). $_________x $__________/1000 = $__________ (the “Available TIF Estimate”) (7) Factor the Available TIF Estimate (6) by the Annual Percentage = Company’s Estimate = $_____________________ x .80= __________________ -10- 4910-7132-5999\1