Title
Resolution to Approve Industrial Facilities Exemption Certificate between the City of Ann Arbor and Mahindra GenZe
Memorandum
Attached for your review and approval is a resolution and proposed abatement agreement (Industrial Facilities Exemption Certificate) for Mahindra GenZe. The purpose of this abatement is to attract and retain corporate investment in the City of Ann Arbor.
Mahindra GenZe is a company that is in the business of manufacturing a new technology vehicle. The company is requesting an abatement of $603,110 of real property improvements (of which 454,610 qualifies) and $1,751,204 of new personal property and equipment (see addendum to the attached proposed agreement).
City Administration recommends approval of this abatement request for the following reasons:
The electric vehicle business is continually changing with new and innovative technology and Mahindra GenZe needs to expand and acquire new equipment for the manufacture of its vehicle, with anticipation of 10 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: Steve Powers, City Administrator
Body
Whereas, Pursuant to P.A. 198 of 1974, as amended, after a duly noticed public hearing held December 12, 2013, the City of Ann Arbor City Council established Ann Arbor Industrial Development District No. 2013-010, as requested by 1901 E. Ellsworth LLC;
Whereas, Pursuant to Section 5 of Act 198, Mahindra GenZe 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. 2013-010;
Whereas, Before acting on said application, the City Council held a public hearing on November 6, 201...
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