Title
Approval of Industrial Facilities Exemption Certificate for BMD Group, Inc.
Body
Whereas, BMD Group, 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 3098 Research Drive, Rochester Hills, Michigan, more particularly described as follows:
A parcel of land part of Lot 32 of the "Rochester Hills Executive Park" part of the southeast ¼ of Section 29 and the southeast ¼ of southeast ¼ of Section 30, T.3 N., R.11 E., City of Rochester Hills, Oakland County, Michigan, according to the plat thereof recorded in Liber 199 of plates, Pages 26, 27, 28, 29 and 30, Oakland County records, being more particularly described as:
Beginning at the northwest corner of said Lot 32; thence along the southerly right-of-way line of Research Drive (70 feet wide) the following two (2) courses: (1) N 85°57'25" E., 50.00 feet; and (2) 105.38 feet along the arc of a curve to the left (radius 358.23 feet, central angle 16°51'17” long chord bears N 77°31'46" E., 105.00 feet); thence 51.16 feet along the arc of a curve to the right (radius 212.50 feet, central angle 13°47'41", long chord bears S 10°56'25" E., 51.04 feet); thence S 04°02'35" E., thence S 85°57'25" W., 160.00 feet along the southerly line of said Lot 32 to a point on the easterly line of Technology Drive (70 feet wide) said point also being the southwest corner of said Lot 32; thence N 04°02'35" W., 292.85 feet along the easterly right-of-way line of said Technology Drive to the point of beginning. Containing 47,376 square feet or 1.087 acres and subject to easements and restrictions of record.
Whereas, BMD Group, Inc. has made application to the Rochester Hills City Council for an Industrial Facilities Exemption Certificate under the above noted legislation; 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. The project is a speculative development and the building is a new facility that has not previously been occupied by a tenant.
c. Completion of the facility is calculated to, and will at the time of issuance of the certificate, have the reasonable likelihood to create employment.
d. Completion of the facility does not constitute merely the addition of machinery and equipment for the purpose of increasing productive capacity, but rather is primarily for the purpose and will primarily have the effect of providing a new speculative facility on industrial property.
e. The construction of the industrial facility meets the objectives of job creation within the established industrial corridor of the City of Rochester Hills.
Now, Therefore, Be It 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 BMD Group, Inc. for an Industrial Facilities Exemption Certificate for a period of six (6) years for real property; and
Be It Further Resolved, that the accompanying agreement between BMD Group, 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; and
Be It Finally Resolved, that the Mayor is authorized to sign the agreement after review by the City Attorney's office as to form.