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Request for an Industrial Facilities Exemption Certificate by Energy Conversion Devices for Real and Personal Property located at 2923 Technology Drive
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Whereas, Energy Conversion Devices, Inc., as owners of certain personal property and leasee of certain real property in the City of Rochester Hills, Oakland County, Michigan, are 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 is that property located at 2923 Technology Drive, 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 ¼ of Section 29, and the southeast ¼ 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, Energy Conversion Devices, Inc. has made application to the Rochester Hills City Council for an Industrial Facilities Exemption Certificate under the above noted legislation; 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 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.
Now, Therefore, Be It 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 request of Energy Conversion Devices, Inc. for an Industrial Facilities Exemption Certificate for a period of eight (8) years for real and personal property; and
Be It Further Resolved that the accompanying Development Agreement between Energy Conversion Devices, Inc. and the City of Rochester Hills is hereby approved after review by the City Attorney as to form, and is to be sent to the Department of Treasury and the State Tax Commission along with this resolution.