Title
Request an Industrial Facilities Exemption Certificate (IFT), for personal property at 2960 Technology Drive
Body
Whereas, Bernal, 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 Districts Act of 1974," as amended; and
Whereas, the Industrial Development District is that property located at 2960 Technology Drive, Rochester Hills, Michigan, more particularly described as follows:
A parcel of land containing Lots 2, 3, and 4, Rochester Hills Executive Park, part of the southwest ¼ of Section 29 and the southeast ¼ of Section 30, T.3N., R.11E., City of Rochester Hills, Oakland County, Michigan, according to the plat thereof recorded in Liber 199 of Plats, Pages 26, 27, 28, 29, and 30 of Oakland County records.
Whereas, Bernal, 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 Bernal, Inc. for an Industrial Facilities Exemption Certificate for a period of eight years for personal property only; and
Be It Further Resolved that the accompanying Development Agreement between Bernal, 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.