Title
Resolution to Approve Industrial Facilities Exemption Certificate between the City Of Ann Arbor and Arbor Networks Inc.
Memorandum
Attached for your review and approval is a resolution and proposed abatement agreement (Industrial Facilities Exemption Certificate) for Arbor Networks Inc. The purpose of this abatement is to attract and retain corporate investment in the City of Ann Arbor.
Arbor Networks Inc is an Ann Arbor based company that is in the business of network security and operational performance products. The company is requesting an abatement of $4,961,800 of real property improvements and equipment (see addendum to the attached proposed agreement).
City Administration recommends approval of this abatement request for the following reasons:
· The digital information business is continually changing with new and faster technology and Arbor Networks needs to acquire space, new equipment for a data center and work stations, with anticipation of 82 new employees resulting from the move to this facility.
· The attraction and retention of these operations is consistent with the City and SPARK’s economic growth objectives.
Staff
Prepared by: David Petrak, City Assessor
Reviewed by: Tom Crawford, Chief Financial Officer
Body
Whereas, Pursuant to P.A. 198 of 1974, as amended, after a duly noticed public hearing held February 19, 2008, the City of Ann Arbor City Council established Ann Arbor Industrial Development District No. 2008-020, as requested by MAV Development;
Whereas, Pursuant to Section 5 of Act 198, Arbor Networks Inc has filed an application for Industrial Facilities Exemption Certificate with respect to real property improvements and new personal property to be acquired and installed within Ann Arbor Industrial Development District No. 2008-020;
Whereas, Before acting on said application, the City Council held a public hearing on March 17, 2008 at the City of Ann Arbor City Hall, at 7:00 p.m., for which hearing the applicant, the...
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