Title
Resolution to Approve Industrial Facilities Exemption Certificate between the City of Ann Arbor and Barracuda Networks
Memorandum
Attached for your review and approval is a resolution and proposed abatement agreement (Industrial Facilities Exemption Certificate) for Barracuda Networks Corporation. The purpose of this abatement is to attract and retain corporate investment in the City of Ann Arbor.
Barracuda Networks Corp. is a company that is in the business of developing software for data protection, security, and application delivery. The company is requesting an abatement of $1,664,156 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 computer software business is continually changing with new and faster technology and Barracuda Networks needs to expand and acquire new equipment for the development of its systems, with anticipation of 144 new employees resulting from the new 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
Approved by: Steven D. Powers, City Administrator
Body
Whereas, Pursuant to P.A. 198 of 1974, as amended, after a duly noticed public hearing held August 9, 2012, the City of Ann Arbor City Council established Ann Arbor Industrial Development District No. 2012-010, as requested by 317 Maynard LLC;
Whereas, Pursuant to Section 5 of Act 198, Barracuda Networks Corp. 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. 2012-010;
Whereas, Before acting on said application, the City Council held a public hearing on October 1, 2012 at the City of A...
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