Title
Resolution Setting a Public Hearing on the Application of Intergrated Sensing Systems, Inc., for Industrial Facilities Exemption Certificate in Industrial Development District 2009-040
Memorandum
Attached please find for Council action the necessary resolution to set a public hearing on the application of Intergrated Sensing Systems, Inc., for an industrial facilities exemption certificate in Industrial Development District No. 2009-040 established by City Council on September 8, 2009.
State law requires that a public hearing be scheduled by the local governing body on receipt of an application for an industrial facilities exemption certificate in an established development district. Intergrated Sensing Systems, Inc. filed an application with the City Clerk on September 9, 2009.
Intergrated Sensing Systems, Inc. is requesting an abatement on $500,000 of real property improvements and $2,500,000 of personal property. If approved, this will reduce Intergrated Sensing Systems’ annual tax bill for the new improvements by an average of approximately $28,000 for each year of the abatement. The new real and personal property investments will generate approximately $30,900 in property taxes for each year during the abatement period.
Staff
Prepared by: David Petrak, City Assessor
Reviewed by: Tom Crawford, Chief Financial Officer
Approved by: Roger Fraser, City Administrator
Body
Whereas, Pursuant to P.A. 198 of 1974, as amended (“Act”), after a duly noticed public hearing held on September 8, 2009, the City of Ann Arbor City Council established Industrial Development District No. 2009-040;
Whereas, Pursuant to Section 7a of the Act, on September 9, 2009, Intergrated Sensing Systems, Inc. filed an application with the City Clerk for an Industrial Facilities Exemption Certificate for real property improvements to be constructed and new personal property to be acquired and installed within Industrial Development District No. 2009-040;
Whereas, Before...
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