Title
Resolution to Approve Industrial Facilities Exemption Certificate between the City of Ann Arbor and Edwards Brothers Inc.
Memorandum
Attached for your review and approval is a resolution and proposed abatement agreement (Industrial Facilities Exemption Certificate) for Edwards Brothers Inc. The purpose of this abatement is to attract and retain corporate investment in the City of Ann Arbor.
Edwards Brothers Inc. is an Ann Arbor based company that is in the business of book printing and binding. The company is requesting an abatement of $4,754,146 of equipment (see addendum to the attached proposed agreement).
City Administration recommends approval of this abatement request for the following reasons:
· Edwards Brothers is committed to Ann Arbor but is facing pressures from national competitors’ growth, making it more difficult to compete.
· The printing business is increasingly moving to small batch runs and print on demand books and Edwards Brothers needs to acquire a new press and support equipment.
· 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
Approved by: Roger W. Fraser, City Administrator
Body
Whereas, Pursuant to P.A. 198 of 1974, as amended, after a duly noticed public hearing held August 6, 2007, the City of Ann Arbor City Council established Ann Arbor Industrial Development District No. 2007-010, as requested by Edwards Brothers, Inc;
Whereas, Pursuant to Section 5 of Act 198, Edwards Brothers Inc, has filed an application for Industrial Facilities Exemption Certificate with respect to new personal property to be acquired and installed within Ann Arbor Industrial Development District No. 2007-010;
Whereas, Before acting on said application, the City Council held a public hearing on January 5, 2009, at the City of Ann Arbor City Hall, at 7:00 p.m., for which hearing...
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