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Request for Approval of an Industrial Facilities Exemption Certificate for AdduXi, Inc., 1857 Enterprise Dr., Rochester Hills, Michigan 48309 for new Personal Property for a period of five (5) years
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Whereas, pursuant to PA 198 of 1974, as amended, after a duly noticed Public Hearing held on October 6, 2014, the Rochester Hills City Council by resolution established that AdduXi, Inc. is located within an Industrial Development District; and
Whereas, the Industrial Development District is that property located at 1857 Enterprise Dr., Rochester Hills, also known as Parcel Number 15-28-302-011, and further described as:
T3N, R11E, SEC 28 TAN INDUSTRIAL PARK E 20 FT OF LOT 5, ALL OF LOT 6, LOT 7 EXC E 225 FT, ALSO LOT 8 EXC E 225 FT AND EXC W 25 FT OF E 250 FT OF S 20 FT 12/23/85 FR 010; and
Whereas, AdduXi, Inc. filed a new application for an Industrial Facilities Exemption Certificate for personal property on September 12, 2014 for personal property to be acquired and installed at the facility within the Industrial Development District; and
Whereas, in its application, AdduXi, Inc. has indicated that it is experiencing tremendous sales growth in its North American market and plans to purchase $3,532,190 in new equipment, machinery, furniture and computers within the next two years, creating an additional 40 jobs; and
Whereas, installation of new equipment had not begun earlier than six months before September 12, 2014, 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 regarding at City Council's Regular Meeting of October 6, 2014, at 1000 Rochester Hills Drive, Rochester Hills, MI 48309 at 7:00 p.m. in which the taxing authorities, applicant, Assessor and the public were given an opportunity to be heard; 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 under Act No. 198 of the Public Acts 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. Permanent jobs will be created as a result of this project.
c. There is a demonstrated need for financial assistance to encourage AdduXi to expand in Rochester Hills.
d. The prospects for long-term growth are present.
e. The investment will increase the economic vitality of the industrial and high technology districts within the City of Rochester Hills.
f. The aggregate SEV of 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 unit, plus the SEV of personal property thus exempted; and
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 AdduXi, Inc. for an Industrial Facilities Exemption Certificate for a period of five (5) years for personal property only; and
Be It Further Resolved, that the accompanying agreement between AdduXi, Inc. and the City of Rochester Hills is hereby approved and is to be sent to the Department of Treasury and the State Tax Commission along with this resolution no later than October 31, 2014; and
Be It Finally Resolved, that as the City Attorney has reviewed the Agreement as to form, the Mayor is authorized to sign the Agreement.