File #: 2010-0495    Version:
Type: Exemptions Status: Passed
File created: 11/12/2010 In control: City Council Regular Meeting
On agenda: Final action: 12/9/2013
Title: Request to Consider Adoption of the Restated Resolution, to replace RES0201-2013 adopted at the September 30, 2013 Regular Meeting, regarding the request for approval of an Industrial Facilities Exemption Certificate for Otto Bock Polyurethane Technologies
Attachments: 1. Agenda Summary.pdf, 2. Letter Tax Commission 120213.pdf, 3. Treasury Sample Resolution.pdf, 4. 093013 Agenda Summary.pdf, 5. Development Agreement 2013.pdf, 6. Financial Analysis.pdf, 7. Suppl Presentation.pdf, 8. 091613 Agenda Summary.pdf, 9. Application.pdf, 10. 062413 Agenda Summary.pdf, 11. Suppl Presentation 062413.pdf, 12. 022811 Agenda Summary.pdf, 13. 121310 Agenda Summary.pdf, 14. 112210 Agenda Summary.pdf, 15. Development Agreement Draft.pdf, 16. Suppl Development Agreement (Revised).pdf, 17. Suppl Presentation 121310.pdf, 18. Exhibit A 2008 Tax Exemption Chart.pdf, 19. Application.pdf, 20. Application Question 6a.pdf, 21. Application Section 6b.pdf, 22. Otto Bock Brief History.pdf, 23. 5 Year Analysis.pdf, 24. 112210 Resolution.pdf, 25. 121310 Resolution.pdf, 26. 022811 Resolution.pdf, 27. 091613 Resolution.pdf, 28. 093013 Resolution.pdf, 29. Resolution.pdf
Title
Request to Consider Adoption of the Restated Resolution, to replace RES0201-2013 adopted at the September 30, 2013 Regular Meeting, regarding the request for approval of an Industrial Facilities Exemption Certificate for Otto Bock Polyurethane Technologies

Body
Whereas, an Industrial Development District was established on September 6, 2006 at 2923 Technology Drive, also known as Parcel Number 15-30-477-012, and further described as:

THE SOUTH 133 FEET OF LOT 33 AND THE NORTH 142 FEET OF LOT 34, "ROCHESTER HILLS EXECUTIVE PARK" AS RECORDED IN LIBER 199, PAGES 26-30, OAKLAND COUNTY PUBLIC RECORDS. LYING IN THE SOUTHWEST 1/4 OF SECTION 29, AND THE SOUTHEAST 1/4 OF SECTION 30, TOWN 3 NORTH, RANGE 11 EAST, CITY OF ROCHESTER HILLS, OAKLAND COUNTY, MICHIGAN. CONTAINING 132,000 SQUARE FEET OR 3.03 ACRES; and

Whereas, in December 2010, City Council approved a real and personal property tax abatement for the investment Otto Bock made in the building located at 2923 Technology Drive, along with machinery and equipment;

Whereas, Otto Bock is currently in the third year of that five-year tax abatement and this newly presented investment was not calculated at the time of the first abatement and cannot be added to the existing tax abatement as the two-year window of time to make those investments has closed; and

Whereas, Otto Bock pledged to invest $3,861,000 in the Rochester Hills operation and create 39 jobs, and as reported to City Council in June 2013, Otto Bock to date has invested $6,396,000 in the Rochester Hills facility and created 45 jobs; and

Whereas, Otto Bock Polyurethane Technologies, Inc. filed a new application for an Industrial Facilities Exemption Certificate for personal property on September 9, 2013; and

Whereas, in its application, Otto Bock Polyurethane has indicated that it is experiencing tremendous sales growth, especially in non-automotive sectors and plans to purchase $2,950,000 in additional machinery and equipment within the next t...

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