Title
Request for Approval of the Transfer of IFT #2007-447 from Ovonyx Technologies, Inc. to Ovonyx, Inc.
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Whereas, Ovonyx Technologies, Inc., as owners of certain industrial property in the City of Rochester Hills, Oakland County, Michigan, is located within an Industrial Development District under the "Plant Rehabilitation and Industrial Development Districts Act of 1974," as amended; and
Whereas, the Industrial Development District was established on September 12, 2007 and is that property located at 2956 Waterview Dr., also known as Parcel Number 15-30-376-022, Rochester Hills, Michigan, more particularly described as follows:
T3N, R11E, SEC 30 ROCHESTER HILLS CORPORATE CENTER SUB LOT 4 EXC SLY 27 FT., ALSO ALL OF LOT 5 5-18-95 FR 012 & 013; and
Whereas, Industrial Facilities Exemption Certificate #2007-447 for Ovonyx Technologies, Inc. was originally approved on September 12, 2007 for a period of six (6) years for personal property only; and
Whereas, Ovonyx, Inc. applied for the transfer of Certificate #2007-447 on December 8, 2009; and
Whereas, A Public Hearing regarding this request was held at City Council's Regular Meeting of January 25, 2010 in which the taxing authorities, applicant and public were given an opportunity to be heard; and
Whereas, Pursuant to Section 10 of the Development Agreement entered into by Ovonyx Technologies, Inc. and the City of Rochester Hills on September 19, 2007, Ovonyx, Inc. as heir to Ovonyx Technologies, Inc. assumes all of its requirements, rights and responsibilities under the Agreement; 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 transfer, 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 will at the time of issuance of the certificate, have the reasonable likelihood to create employment.
c. 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 facility on industrial property.
d. 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 9, (1) and (2) of Act 198 of Public Acts of 1974, as amended, the City Council of the City of Rochester Hills hereby approves the transfer of IFT Certificate #2007-447 from Ovonyx Technologies, Inc. to Ovonyx, Inc. for the remaining period of four (4) years for personal property only; and
Be It Further Resolved, that the City Clerk is directed to forward a certified copy of this Resolution to the State Tax Commission.