Title
Request for Approval of an Industrial Facilities Exemption Certificate (IFT) for Ovonyx Technologies at 2956 Waterview Drive.
Body
Whereas, Ovonyx Technologies, 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 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, Ovonyx Technologies, Inc. has made application to the Rochester Hills City Council for an Industrial Facilities Exemption Certificate under the above noted legislation, and
Whereas, A Public Hearing regarding this request was held at City Council's Workshop Meeting of September 5, 2007 in which the taxing authorities, applicant and 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, 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 increas...
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