Title
Request for Approval of an Industrial Facilities Exemption Certificate (IFT) by Hot Melt Technologies
Body
Whereas, Hot Melt Technologies, Inc., as owners of certain industrial property in the City of Rochester Hills, Oakland County, Michigan, are located within an Industrial Development District under the "Plant Rehabilitation and Industrial Development District Act of 1974," as amended, and
Whereas, the Industrial Development District is that property located at 1665 W. Hamlin Road, Unit 3 of the Hamlin Industrial Condominium, further identified as:
Unit 3, Hamlin Industrial Condominium, according to the Master Deed recorded in liber 39410, pages 389 through 438, both exclusive, Oakland County Records, and designated as Oakland County Condominium Subdivision No. 1941, together with rights in general common elements and limited common elements, as set forth in the above described Master Deed and as described in Act 59 of the Public Acts of 1978, as amended and,
Whereas, Hot Melt Technologies, has made application to the Rochester Hills City Council for an Industrial Facilities Exemption Certificate under the above noted legislation, and
Whereas, A Public Hearing regarding this request was held at City Council's Regular Meeting of July 14, 2008 in which the taxing authorities, applicant and public were given an opportunity to be heard, and
Whereas, the Rochester Hills City Council has reviewed the application and made the following findings:
a. The granting of the Industrial Facilities Exemption Certificate, considered together with the aggregate amount of Industrial Facilities Exemption Certificates previously granted and currently in force, does not have the effect of substantially impeding the operation of the City of Rochester Hills or impairing the financial soundness of a taxing unit which levies an ad valorem property tax in the City of Rochester Hills in which the facility is located.
b. Completion of the facility is calculated to, and wi...
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