Title
Request for Transfer of Industrial Facilities Exemption Certificate #2006-428
Body
Whereas, Joel Nosanchuk, as owner of certain industrial property in the City of Rochester Hills, Oakland County, Michigan, whose facility is located within an Industrial Development District under the "Plant Rehabilitation and Industrial Development Districts Act of 1974," as amended, which was established by the Rochester Hills City Council on September 6, 2006, and
Whereas, the Industrial Development District is that property located at 2923 Technology Dr., Rochester Hills, Michigan, more particularly described as follows:
THE SOUTH 133 FEET OF LOT 33 AND THE NORTH 142 FEET OF LOT 34, "ROCHESTER HILLS EXECUTIVE PARK' AS RECORDED IN LIBER 199, PAGES 26-30, OAKLAND COUNTY PUBLIC RECORDS. LYING IN THE SOUTHWEST 1/4 OF SECTION 29, AND THE SOUTHEAST 1/4 OF SECTION 30, TOWN 3 NORTH, RANGE 11, EAST, CITY OF ROCHESTER HILLS, OAKLAND COUNTY, MICHIGAN, CONTAINING 132,000 SQUARE FEET OR 3.03 ACRES.
Whereas, Industrial Facilities Exemption Certificate #2006-428 for Energy Conversion Devices, Inc. was originally approved by the Rochester Hills City Council on September 6, 2006 and went in to effect on December 31, 2006; and
Whereas, ThyssenKrupp Materials, NA has sub-leased the facility at 2923 Technology Dr. from Energy Conversion Devices and applied to the City of Rochester Hills for a transfer of Certificate #2006-428 on August 1, 2008; 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. The project is the transfer of existing Industrial Facilities Exemption Certificate #2006-428, which went into effect on December 31, 2006.
c. Energy Conversion Devices, Inc. completed improvements to the facility under the IFT in 2007.
d. Completion of the facility does not constitute merely the addition of machinery and equipment for the purpose of increasing productive capacity, but rather is primarily for the purpose and will primarily have the effect of providing a new speculative facility on industrial property.
e. The construction of the industrial facility meets the objectives of job creation within the established industrial corridor of the City of Rochester Hills.
Resolved, that pursuant to Section 21, (1) of Act 198 of Public Acts of 1974, as amended, the City Council of the City of Rochester Hills hereby approves the transfer of Industrial Facilities exemption Certificate #2006-428 for the remaining period of six (6) years for real property only; and
Be it Further Resolved, that the attached Development Agreement also is approved, subject to the review and approval of the City Attorney as to form; and
Be it Finally Resolved, that the City Clerk's office is hereby authorized to submit this Resolution along with the application for transfer of the IFT to the State Tax Commission no later than October 31, 2008.