Title
Request for Approval of an Industrial Facilities Exemption Certificate (IFT or tax abatement) for Molex, LLC, located at 3499 W. Hamlin Road, Rochester Hills, Michigan
Body
Whereas, pursuant to PA 198 of 1974, as amended, after a duly noticed Public Hearing held on January 23, 2017, the Rochester Hills City Council by resolution established that Molex, LLC is located within an Industrial Development District; and
Whereas, the Industrial Development District is that property located at 3499 W. Hamlin Rd., also known as Parcel No. 15-30-227-004 and further described as:
T3N, R11E, SEC 30 PART OF N 1/2 OF SEC BEG AT PT DIST S 00-19-29 E 1058.39 FT & S 76-10-56 W 718.31 FT & S 84-44-06 W 76.24 FT & S 81-40-16 W 1027.66 FT FROM NE SEC COR, TH S 03-23-22 E 446.87 FT, TH S 83-03-17 W 83.49 FT, TH N 88-41-47 W 616.86 FT, TH N 67-46-14 W 300 FT, TH N 45-01-47 W 300 FT, TH N 44-57-49 E 200.83 FT, TH N 00-01-47 W 33 FT, TH N 89-58-13 E 126.55 FT, TH N 89-24-07 E 890.68 FT, TH S 03-23-22 E 67.95 FT TO BEG 11.94 A5-24-96 FR 002
Whereas, Molex, LLC has filed an application for an Industrial Facilities Exemption Certificate on December 2, 2016 for real property to be installed within the Industrial Development District; and
Whereas, installation of new facility had not begun earlier than six months before December 2, 2016, the date of acceptance of the application for the Industrial Facilities Exemption Certificate; and
Whereas, before acting on said application, the Rochester Hills City Council held a Public Hearing on January 23, 2017 at 1000 Rochester Hills Dr., Rochester Hills, MI 48309 at 7:00 p.m. for which Hearing the applicant, the Assessor and the taxing authorities were given written notice and were afforded an opportunity to be heard and after review of the application, the City Council 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 under PA 198 of 1974 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. The addition of the facility meets the objectives of job creation within the established industrial corridor of the City of Rochester Hills.
d. The aggregate SEV of real and 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 City of Rochester Hills, plus the SEV of personal and real property thus exempted.
Resolved, that pursuant to Section 9, (1) and (2) of Act 198 of Public Acts of 1974, as amended, the Rochester Hills City Council hereby approves the request of Molex, LLC for an Industrial Facilities Exemption Certificate for a period of 12 years after project completion for real property only; and
Be it Further Resolved, that the accompanying agreement between Molex, LLC and the City of Rochester Hills is hereby approved and is to be received by the Department of Treasury and the State Tax Commission along with the Resolution by October 31, 2017; and
Be it Finally Resolved, that the Mayor is authorized the sign the Agreement after review by the City Attorney’s office as to form.