Title
Hearing and consideration of Agreement to Opt Out of a Personal Property Exemption between the City of Rochester Hills and Michigan Next Energy Authority for Energy Conversion Devices, LLC (ECD)
Body
WHEREAS the Michigan Next Energy Authority has notified the City that Energy Conversion Devices, LLC has been certified as an alternate energy technology business under Public Act 593 of 2002, as amended; and
WHEREAS the Michigan Next Energy Authority has certified certain personal property owned by Energy Conversion Devices, LLC as alternate energy personal property exempt from certain property taxes; and
WHEREAS the maximum value of the said exempted personal property is $6,277,091; and
WHEREAS the removal of said personal property from the personal property tax roll would create an economic burden on the City of Rochester Hills and other local taxing units, and result in the potential shift of the tax burden to other residential, commercial and industrial properties within the City; and
WHEREAS, PA 593 of 2002, MCL 211.9i (4), allows the governing body of the local tax collecting unit in which the alternative energy personal property is located to adopt a resolution to not exempt that alternative energy personal property from taxes collected in that local tax collecting unit, except taxes collected under sections 1211 and 1212, of the revised school code, 1976 PA 451, MCL 380.1211 and 380.1212, a tax levied under the revised school code, 1976 PA 451, MCL 380.1 to 380.1852, to retire outstanding bonded indebtedness, or the tax levied by the State under the State Education Act, 1993 PA 331, MCL 211.901 to 211.906; and
WHEREAS the Mayor and the City Assessor have recommended that the City Council, acting as the governing body of the local tax collecting unit, resolve to not exempt from taxes collected in that local collecting unit for this personal property.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Rochester Hills ...
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