Title
Request to Approve a Tax Abatement Transfer of IFT #2011-496 from Eagle Ottawa, LLC to Lear Corporation, 2930 W. Auburn Road
Body
Whereas, pursuant to P.A. 198 of 1974, M.C.L. 207.551 et seq., after a duly noticed public hearing held on October 17, 2011, the Rochester Hills City Council by resolution established an Industrial Development District at 2930 W. Auburn Rd.; and
Whereas, the Rochester Hills City Council approved an application from Eagle Ottawa requesting an Industrial Facilities Exemption Certificate 2011-496 for personal property investments located at 2930 W. Auburn; and
Whereas, Lear Corporation has filed an application for a transfer of Industrial Facilities Exemption Certificate 2011-496 with respect to personal property of a new facility located within the Industrial Development District at 2930 W. Auburn; and
Whereas, the applicant, the Assessor and a representative of the affected taxing units were given written notice of the transfer application and were offered an opportunity to be heard on said application; and
Whereas, Lear Corporation has substantially met all the requirements under Public Act 198 of 1974 for the transfer of Industrial Facilities Exemption Certificate 2011-496; and
Whereas, the aggregate SEV of personal property exempt from ad valorem taxes within the City of Rochester Hills, after granting this certificate will not exceed 5% of an amount equal to the sum of the SEV of the unit, plus the SEV of personal property thus exempted.
Resolved, that the Rochester Hills City Council has reviewed the application and made the following findings:
1. The City of Rochester Hills finds and determines that the granting of the transfer of an Industrial Facilities Exemption Certificate considered together with the aggregate amount of certificates previously granted and currently in force under Act. No. 198 of the Public Acts of 1974 and Act No. 255 of the Public Acts of 1978, shall not have the effect of substantially imped...
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