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Request to consider opting out of a tax exemption of personal property acquired in 2008 by Energy Conversion Devices (ECD), a certified alternative energy technology business under Public Act 549, of 2002
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Whereas, on December 15, 2003 the Michigan NextEnergy Authority (MNEA) certified Energy Conversion Devices, Inc. as an Alternative Energy Technology Business as permitted by Public Act 549 of 2002; and
Whereas, on December 15, 2008 the MNEA certified a list of equipment (See Exhibit A - MNEA packet for list of equipment) as Alternative Energy personal property (the "property") making it exempt from taxes levied before January 1, 2013 as permitted by Public Act 549 of 2002; and
Whereas, notice of this action was received by the City of Rochester Hills Assessing Department on January 13, 2009; and
Whereas, the City Assessor has made the following determinations regarding the certified property (See Exhibit B):
1. It is property classified as personal rather than real property
2. It has not been previously subject to taxation under the general property tax act, and
3. It has not previously been exempted from taxes under the general property tax and; and
Whereas, exemption of the property will not impede the City's ability to provide service or have a detrimental impact on its fiscal stability.
Resolved, that the City of Rochester Hills is not opting-out of the exemption of the alternative energy personal property from local personal property taxes of Energy Conversion Devices, a certified Alternative Energy Technology Business, as permitted by Public Act 549 of 2002; and
Be It Further Resolved, that the City Clerk should forward a certified copy of this Resolution to the Michigan NextEnergy Authority no later than Friday, February 27, 2009.