HomeMy WebLinkAboutResolutions - 2011.05.19 - 18273MISCELLANEOUS RESOLUTION #1110 • May 19, 2011
BY: PLANNING AND BUILDING COMM. .:"I'LL2, DAVIE W. POTTS, CHAIRPERSON
IN RE: PLANNING AND ECONOMIC DEVELOPMENT SERVICES DIVISION RESOLUTION
APPROVING PROJECT PLAN (IBC NORTH AMERICA, INC. PROJECT) - CHARTER TOWNSHIP OF
SPRINGFIELD
To Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS The Economic Development Corporation of the County of Oakland
(the "EDC") has recommended th....t the Eoard of Commissioners approve the
Project Plan. required L T:•...:-10MiC Development Corporations Act the "Act")
for the captioned Projeyi, a n t which has been presented to this meeting
(the "Project Plan");
WHEREAS the EDC's recommendations to the Board of Commissioners were
based upon its determinations that the Project is reasonable and necessary to
effectuate the purposes of the Act, that the Project Flan satisfies all of the
requirements of the Act regarding project plans and that a letter of credit
issued by a financial institution acceptable to the EDC will be available to
pay debt service; and
WHEREAS the governing body of the Charter Township of Springfield,
Oakland County, Michigan, has also approved the Project Plan and given its
consent to the exercise of jurisdiction ever the Project by the EDC: and
WHEREAS the Board of Commissioners has held a. public hearing to consider
whether the Project Plan constitutes a public purpose as contemplated by the
Act; and
WHEREAS the Board of COMMasc-,HC=TS, following such public hearing and
its review of the Project. Plan, tareby certifies, approves and concurs in the
determinations of the EDC •it], iLopct thereto.
NOW THEREFORE RE IT BESCU that the Oakland County Board of
Commissioners hereby determines the Project Plan constitutes a public
purpose as contemplated by the Act.
BE IT FURTHER RESOLVED that the Oakland County Board of Commissioners
hereby certifies and approves the Project Plan,
RE IT FURTHER RESOLVED that the EDC is hereby authorized to take such
steps as are necessary to implement the Project and the financing thereof by
the issuance of its limited obligation revenue bonds as contemplated by the
Project Plan.
BE IT FURTHER RESOLVED that the County Clerk is hereby directed to
provide four certified copies of this resolution to the Assistant Secretary of
the Board of the EDC.
Chairperson, on behalf of the Planning and Building Committee, I move
the adoption of the foregoing resolution.
PLANNING AND BUILDING COMMITTEE
PLANNING & BUILDING COMMITTEE VOTE:
Motion carried unanimously on a roll call vote with Gosselin and Crawford absent.
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan
IBC North America, Inc. Project
PROJECT PLAN
CONTENTS
1. Summary Description of Project (Page 1)
2, Project Plan Certification by Company (Page 2)
3. Statutorily Required Information (Page 3)
4. Exhibits
"A" - Project Area Legal Description
"B" - Letter of Credit or Bond Purchaser's Commitment Letter
"C" - Company Certificate Regarding Transfer of Employment
- Company Certificate Regarding Payment of Prevailing Wages
Other
PROJECT PLAN
SUMMARY DESCRIPTION OF
IBC NORTH AMERICA, INC. PROJECT
OWNER OF PROJECT: IBC North America, Inc., a Michigan corporation
CONTACT PERSON: Dick Harding
President/Chief Executive Officer
4545 Clawson Tank Dr.
Clarkston, MI 48346
Cell: (248) 705-5873
Email: dharding@ibcna.corn
LOCATION OF PROJECT: (Local municipality) Charter Township of Springfield, Michigan
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT: The project consists of the acquisition and installation of
machinery and equipment.
EMPLOYMENT CREATED OR RETAINED: Between 20 and 25 new jobs are expected to
be created and 30 existing jobs will be
retained.
TOTAL PROJECT COST: $2,350,000
BONDS TO BE ISSUED: $2,350,000
LETTER OF CREDIT ISSUER OR BOND PURCHASER: Comerica Securities
DATE AND EXPIRATION DATE OF LETTER OF CREDIT OR BOND PURCHASE
COMMITMENT:
By:
Its:
Dated:
PROJECT PLAN CERTIFICATION
THIS PROJECT PLAN WAS PREPARED FOR THE
ECONOMIC DEVELOPMENT CORPORATION OF THE
COUNTY OF OAKLAND IN ACCORDANCE WITH THE
REQUIREMENTS OF THE ECONOMIC DEVELOPMENT
CORPORATIONS ACT, ACT NO. 338 OF THE MICHIGAN
PUBLIC ACTS OF 1974, AS AMENDED.
THE UNDERSIGNED HAS PROVIDED ALL OF THE
INFORMATION CONTAINED HEREIN AND HEREBY
CERTIFIES AS TO THE ACCURACY AND VALIDITY OF
SUCH INFORMATION AS OF THIS DATE.
THE UNDERSIGNED UNDERSTANDS THAT THIS PROJECT
PLAN IS STATUTORILY REQUIRED AND, IF IT CONTAINS
ANY MATERIAL MISREPRESENTATION OR
INACCURACY, COULD RESULT IN THE INVALIDATION
OF THE ECONOMIC DEVELOPMENT CORPORATION
PROCEEDINGS REGARDING THE PROJECT TO WHICH
THE PROJECT PLAN PERTAINS.
IBC NORTH AMERICA, INC,
2
Land
Building
Machinery and Equipment
ancillary Building Renovation
TOTAL COSTS
2,350,000
2,350,000
0
0
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
IBC North America, Inc. Project
A. THE LOCATION AND EXTENT OF EXISTING STREETS AND OTHER
PUBLIC FACILITIES WITHIN THE PROJECT DISTRICT AREA; THE LOCATION,
CHARACTER, AND EXTENT OF THE CATEGORIES OF PUBLIC AND PRIVATE LAND
USES NOW EXISTING AND PROPOSED FOR THE PROJECT AREA, INCLUDING
RESIDENTIAL, RECREATIONAL, COMMERCIAL, INDUSTRIAL, EDUCATIONAL, AND
OTHER USES; AND A LEGAL DESCRIPTION OF THE PROJECT AREA:
The Project site that is a part of the Project Plan is comprised of an existing
approximately 50,000 s.f. manufacturing facility situated on 4.5 acres of land located on
the West side of Clawson Tank Drive about 1/10 mile North of Andersonville. Ajax
Drive is located approximately 1/4 miles west of White Lake Road. The facility location
is sun-ounded to the North, South, East, and West by light industrial/heavy industrial.
The location of the Project Area is set forth in the legal description attached hereto.
There will be no alterations of the existing improvements in the Project Area, other than
interior building renovations and interior building improvements which may be ancillary
to the installation of the machinery and equipment comprising the Project.
Legal description of Project Area attached as Exhibit A.
B. A DESCRIPTION OF EXISTING IMPROVEMENTS IN THE PROJECT AREA
TO BE DEMOLISHED, REPAIRED, OR ALTERED; A DESCRIPTION OF REPAIRS AND
ALTERATIONS; AND AN ESTIMATE OF THE TIME REQUIRED FOR COMPLETION:
There will be no alterations of the existing improvements in the Project Area, other than
interior building renovations and interior building improvements which may be ancillary
to the installation of the machinery and equipment comprising the Project.
C. THE 'LOCATION, EXTENT, CHARACTER, AND ESTIMATED COST OF
THE IMPROVEMENTS, INCLUDING REHABILITATION CONTEMPLATED FOR THE
PROJECT AREA, AND AN ESTIMATE OF THE TIME REQUIRED FOR COMPLETION:
IBC North America, Inc. does not intend to make renovations to the facility.
Description of Bond Project Costs Estimated Amounts
D. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF EACH
STAGE:
Not Applicable
E. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO BE LEFT
AS OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
There will be no change to areas left as open spaces in the Project Area.
F. A DESCRIPTION OF PORTIONS OF THE PROJECT AREA WHICH THE
ECONOMIC DEVELOPMENT CORPORATION OR THE COMPANY DESIRES TO SELL,
DONATE, EXCHANGE OR LEASE TO OR FROM THE MUNICIPALITY AND THE
PROPOSED TERMS:
The Economic Development Corporation of the County of Oakland (the "EDC") will not
sell, donate, exchange or lease any portion of the Project Area to or from the
municipality.
G. A DESCRIPTION OF DESIRED ZONING CHANGES AND CHANGES IN
STREET, STREET LEVELS, INTERSECTIONS AND UTILITIES:
No changes in zoning, streets, street levels, intersections or utilities as a result of the
Project.
H. A DESCRIPTION OF THE PROPOSED METHOD OF FINANCING THE
PROJECT, INCLUDING ATTACHMENT OF A COPY OF THE LETTER OF CREDIT OR
BOND PURCHASER'S COMMITMENT LETTER:
The project will be financed through the issuance and sale of The Economic
Development Corporation of the County of Oakland industrial revenue bonds in an
aggregate principal amount not to exceed $2,350,000. The bonds will be structured as
variable rate demand obligations secured by a letter of credit issued by a commercial
bank. The Borrower has obtained a commitment from Comerica Bank to provide a letter
of credit to secure the bonds (see Attachment B) and by Comerica Securities to act as
placement agent in the offering and sale of the bonds.
The bonds will not be a general obligation of any governmental unit and will not be
payable from tax revenues or other funds of either the County of Oakland or the State of
Michigan.
The proceeds of the Bonds will be lent to the Applicant pursuant to a loan agreement by
and between the Applicant and the EDC and will be used by the Applicant and the EDC
for the purpose of financing the costs of the Project and certain eligible issuance costs
4
relating thereto. In accordance with the loan agreement, the Applicant will be obligated
to make payments sufficient to make timely payments of principal and interest on the
Bonds. The Bonds will not be a general obligation of the EDC but will be secured by a
pledge of revenues in the loan agreement.
I. A STATEMENT REGARDING THE PAYMENT OF PREVAILING WAGE
AND FRINGE BENEFIT RATES AS DETERMINED PURSUANT TO ACT NO. 166 OF THE
MICHIGAN PUBLIC ACTS OF 1965, AS AMENDED (REGARDING WAGES ON STATE
CONTRACTS):
See Exhibit D
J. A LIST OF PERSONS WHO WILL MANAGE OR BE ASSOCIATED WITH
THE MANAGEMENT OF THE PROJECT FOR A PERIOD OF NOT LESS THAN 1 (ONE)
YEAR FROM THE DATE OF APPROVAL OF THE PROJECT PLAN:
Dick Harding - President/Chief Executive Officer
K. DESIGNATION OF THE PERSON OR PERSONS, NATURAL OR
CORPORATE, TO WHOM THE PROJECT IS TO BE LEASED, SOLD OR CONVEYED
AND FOR WHOSE BENEFIT THE PROJECT IS BEING UNDERTAKEN, TO THE EXTENT
THAT INFORMATION IS PRESENTLY AVAILABLE:
The Project is being undertaken for the benefit of IBC North America, Inc. and their
respective shareholders and will be operated by IBC North America, Inc. The Machinery
and Equipment which comprises the Project is not expected to be sold or conveyed to any
other party. The machinery and equipment will be owned and operated by IBC North
America, Inc.
L. IF THERE IS NOT AN EXPRESS OR IMPLIED AGREEMENT WITH A
PERSON OR PERSONS, NATURAL OR CORPORATE, THAT THE PROJECT WILL BE
LEASED, SOLD, OR CONVEYED TO THOSE PERSONS, THE PROCEDURES FOR
BIDDING FOR THE TLEASM4G, PURCHASII`4G OR CONVEYD4G OF THE PROJECT
UPON ITS COMPLETION:
Not Applicable
M. ESTIMATES OF THE NUMBER OF PERSONS RESIDING IN THE PROJECT
AREA AND THE NUMBER OF FAMILIES AND INDIVIDUALS TO BE DISPLACED. IF
OCCUPIED RESIDENCES ARE DESIGNATED FOR ACQUISITION AND CLEARANCE,
INCLUDE A SURVEY OF THE FAMILIES AND INDIVIDUALS TO BE DISPLACED,
INCLUDING THEIR INCOME AND RACIAL COMPOSITION, A STATISTICAL
DESCRIPTION OF THE HOUSING SUPPLY IN THE COMMUNITY, INCLUDING THE
NUMBER OF PRIVATE AND PUBLIC UNITS IN EXISTENCE OR UNDER
CONSTRUCTION, THE CONDITION OF THOSE IN EXISTENCE, THE NUMBER OF
OWNER-OCCUPIED AND RENTER-OCCUPIED UNITS, THE ANNUAL RATE OF
5
TURNOVER OF THE VARIOUS TYPES OF HOUSING AND THE RANGE OF RENTS
AND SALE PRICES, AN ESTIMATE OF THE TOTAL DEMAND FOR HOUSING IN THE
COMMUNITY, AND THE ESTIMATED CAPACITY OF PRIVATE AND PUBLIC
HOUSING AVAILABLE TO DISPLACED FAMILIES AND INDIVIDUALS:
Not Applicable
N. A PLAN FOR ESTABLISHING PRIORITY FOR THE RELOCATION OF
PERSONS DISPLACED BY THE PROJECT IN NEW HOUSING IN THE PROJECT AREA:
Not Applicable
0. PROVISION FOR THE COSTS OF RELOCATING PERSONS DISPLACED
BY THE PROJECT AND FINANCIAL ASSISTANCE AND REIMBURSEMENT OF
EXPENSES, INCLUDING LITIGATION EXPENSES AND EXPENSES INCIDENT TO THE
TRANSFER OF TITLE, IN ACCORDANCE WITH THE STANDARDS AND PROVISIONS
OF THE FEDERAL UNIFORM RELOCATION ASSISTANCE AND REAL PROPERTY
ACQUISITION POLICIES ACT OF 1970, 42 U.S.C. 4601 TO 4655:
Not Applicable
P. A PLAN FOR COMPLIANCE WITH ACT NO. 227 OF THE MICHIGAN
PUBLIC ACTS OF 1972, WHICH PERTAINS TO PROVIDING FINANCIAL ASSISTANCE,
ADVISORY SERVICES AND REIMBURSEMENT OF CERTAIN EXPENSES TO
DISPLACED PERSONS:
Not Applicable
Q. OTHER MATERIAL AS THE ECONOMIC DEVELOPMENT
CORPORATION, LOCAL PUBLIC AGENCY, OR GOVERNING BODY CONSIDERS
PERTINENT:
Not Applicable
6
Exhibit A
PROJECT AREA LEGAL DESCRIPTION
Sewer indicator
Seotic Indicator
Pro0ert criotion
; T
4701 WHITE LAKE RD CLARKSTON Ml 48346-2554
07-36-401-001
‘.) Oakland County'
'r Property Gateway
Commercial and Industrial Property Profile
Note: Please be advised the data included in Property Gateway originates from multiple local municipalities. Data, in regard
to properties, may be classified and updated differently by municipalities. If you have any questions, please contact the
local community where the data originated.
Owner inforrnatiort-ic ,
Owner(s)
Mailing Address
CLAiN.SON TANK CO
: 4545 CLAWSON TANK DR CLARKSTON MI 48346-2572
formation
Site Address
PIN
Municipality
School: District
Use
Water Indicator
Well Indicator
: 4701 WHITE LAKE RD CLARKSTON MI 48346-2554
07-31-401-00: Neighborhood Code : 80100
: Charter Township of Springfield
: 070 CLARKSTON COMM SCHLS
: 301 iND IMP (indt.ist ,:ial
T4N, R8E, SEC 36 THAT PART OF SE 114 LYING NLY OF FOL DESC LINE BEG ON E SEC LINE DIST N 02-17-
25 E 1912.26 FT FROM SE SEC COR, TH N 88-45-10 W 94.4.70 FT, TH S 28-03-05W 860.11 FT, TH S 01-17-05W
99.49 FT, TN N 89-33-10 W 643.88 FT, TH N 00-08-05 E 863.23 FT, TN N 55-08-25W 512.78 FT, TH N 89-42-20 W
248.54 FT TO N & S 114 LINE 60 A U613
111111=11
Taxable Value
Current Assessed Value
Effective Date For Taxes
Taxes
Summer
Winter
Viiiaae
Description
: $559,650
: $618,500
: $0.00
: $0.00
: $0.00
State Equalized Value
Capped Value
Principal Residence
Exemption'
Taxes
Summer
Winter :
Village
Lot Inf-0 -- abon
Acres
: $618,500
: $559,650
: 0%
: $0.00
: $0.00
: 60.
07-36-401-001 Commercial and Industrial Property Profile
:1 : Industrial, Light
Manufacturing
: 1977 : 1950
Low Cost
,
Building
Year Built
Class
No ot Stopot, •
Avg Square Feet (39,704
Sprinklers N
Total Building Square : 69,704
Footage
Used As
• Effective Year
Quality
-Height Per Story (feet)
Elevators
'identical Units
Units
Description
Square Feet
: CRANEWAY - UIP 8,6
: 2,600
Units
Units
Un:tG
Decor ption
Square Feet
Description
q Li are -Feet ..
Description
Square Feet
: Paving (Asphalt)
: Paving (Concrete)
:0
: Surface Parking Lol
: 0
Oakland County'
Property Gateway 4701 WHITE LAKE RD CLARKSTON MI 48346-2554
Note: Please be advised the data included in Property Gateway originates from multiple local municipalities. Data, in regard
to properties, may be classified and updated differently by municipalities. If you have any questions, please contact the
local community where the data originated.
Building/Section
Building/Section 1 Lump StfiTt Adjustments
Building/Section 1 Yard Adjustments
07-36-401-001 Commercial and Industrial Property Profile
:2
: 1991
BtrIdIrt 2 Lump Sum Adjustments
Units
CRANEWAY - UIP 8.6
: 350
Description
uare Feet
Oakland County.' Property 6areway 4701 WHITE LAKE RD CLARKSTON MI 48346-2554
Note: Please be advised the data included in Property Gateway originates from multiple local municipalities. Data, in regard
to properties, may be classified and updated differently by municipalities. If you have any questions, please contact the
local community where the data originated.
Building
Year Built
Class 7 7.-4
No of Stories
Avg Square Feet : 7,875
Sprinklers N
Used As
• Effective Year
Quality
Height Per Story (feet
Elevators
Identical Units
: Industrial, Light
Manufacturing
:192
: Low Coot
Total Building Square : 7,875
Footage
No yard improvements Data Available for 13uildingISection2
Owner(s:)
Maiiinq Address
Sewer Indicator
Septic Indicator
Pro tart •Descri .tion
N
:N
09/27/1999
$30:075 Liber
Date
.AMOUrit
Grantor
: 20774:035
#BOARD COUNTY RD
COMM
#HARDING LEASING Grantee
EQUIP CO
4750 CLAWSON TANK DR CLARKSTON Mt 48346-2572 Oakland County' Property Gateway
Commercial and Industrial Property Profile 07-36-401-002
Note: Please be advised the data included in Property Gateway originates from multiple local municipalities. Data, in regard
to properties, may be classified and updated differently by municipalities. If you have any questions, please contact the
local community where the data originated.
: CLAWSON TAN CO
: 4545 CLAWSON TANK DR CLARKSTON MI 48346-2572
Site Addre ,:s
FIN
MunicipaI;tv
School Disli:Gt
Use
Water Indicator
Well Indicator
74750 CLAWSON TANK DR CLARKSTON MI 48346-2572
07-36-401-002 Neior borhood Coon 80100
Charter Township of Swim:J(43;d
CLARKSTON COMM.SCHLS
301 IND IMP (industrial imp.)
T4N s R8E, SEC 36 PART OF SE 1/4 BEG AT PT DIST N 02-36-30 E 377.18 FT & N 76-15-00 W 245.63 FT FROM
SE SEC COR, TH N 02-36-30 E 215.85 FT, TH S 75-36-00 E 246.20 FT TO SEC LINE, TH N 02-17-25 E 1322.08 FT,
TH N 88-45-10 W 944.70 FT, TH S 28-03-05W 860.11 FT, TH S 01-17-05W 99.49 FT, TH N 89-33-10 W 643.88 FT,
TH N 00-08-05 E 863.23 FT, TH N 55-08-25 W 512.78 FT, TH N 89-42-20 W 248.54 FT, TH S ALG 1/4 LINE TO CEN
ANDERSONVILLE RD, TH SELY ALG CEN SD RD TO BEG EXC THAT PART TAKEN FOR CLAWSON TANK DR,
ALSO EXC THAT PART TAKEN FOR ANDERSONVILLE RD 54.48 A 12-16-91 CORR 6-20-97 CORR
Most Recent Sale Since 1994
Tax Information
: $2,168,800
:•$2,531,610
Taxable Value
.Current Assessed Value
Effective Date For Taxes
: $2.168,800
: $2,168,800
State Equalized Value
Capped Value
Principal Residence : 0%
Exemption
Taxes. Taxes
Summer : $0.00 Summer : S0.00
Winter : $0.00 Winter • • : $0.00
Viliaqe : $0.00 Village : $0.00
Description : 55. Acres
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Exhibit B
LETTER OF CREDIT OR
BOND PURCHASER'S COMMITMENT LETTER
Middle Markel Banking, Metro-C
3501 Hamlin, Ste. 3
Auburn Hills, Ml 48328
248 371-5964 Telephone
248 371.5338 Fax
restokes@comerIca.com
Russell A, Stokes
Senior Vice President
Comerioa Bank
April 20, 2011
otn. igk:Ban •
Mary Langhauser
Oakland County Offices
Bldg. 41 W
2100 Pontiac Lake Rd.
Waterford, MI 48328
RE: IBC NA - Financing
Dear Mary,
As we've recently discussed, Cornerica Bank is working on completing a financing package for
IBC NA's expansion plans for their plant in Clarkston, MI. Specifically, we have contemplated
approval of a new letter of credit which would back the new IRB which IBC NA will be issuing to
purchase new equipment. We have been exchanging information with the company and are
currently expected to proceed with final approval of the loan package on May 2". The primary
reason for the delay is that we've decided to work on the renewal of their full lending relationship
with Comerica Bank which has added an extra week or two to the process.
Given their strong performance, I don't expect any issues with the final approval on May 2, and
would expect that we would be ready to close our piece of the transaction shortly thereafter.
Please let me know if you need further clarification on anything.
Sincerely,
n•nn
Russell A. Stokes
Senior Vice President
RD IN G
Exhibit C
COMPANY CERTIFICATE REGA
TRANSFER OF EMPLOYMENT
(IBC North America, Inc. Project)
The undersigned, IBC North America, Inc., a Michigan corporation (the "Company"),
hereby certifies to The Economic Development Corporation of the County of Oakland (the
"EDC") as follows:
1. This Certificate is made and based upon the best of the Company's knowledge and
belief, only after thorough investigation and discussion with all owners of the Company and
others who might have knowledge regarding the subject matter.
2. The Company acknowledges that this Certificate will be employed by the EDC as
the sole basis for the EDC's certification to the Board of Commissioners of the County of
Oakland as to transfer of employment as required by Section 8(3) of the Economic Development
Corporations Act, Act No. 338 of the Michigan Public Acts of 1974, as amended (the "Act").
3. The Company understands that the EDC's Certification to the Board of
Commissioners of the County of Oakland is a statutory requirement which, if improperly made
or based upon any material misrepresentation or inaccuracy, might invalidate the proceedings
regarding the IBC North America, Inc. Project (the "Project") pursuant to which the EDC
expects ultimately to issue its limited obligation economic development revenue bonds to finance
all or part of the Project.
4. As of the date hereof, the Project shall not have the effect of transferring
employment of more than 20 full-time persons from a municipality (as that term is defined in the
Act) of this State to Charter Township of Springfield, Michigan, the municipality in which the
Project will be located, unless the Company has first obtained a consent to the proposed transfer
of employment from the governing body of each municipality from which employment is to be
transferred.
5. The Company understands that a covenant to effectuate the purposes of this
Certificate will be included in those covenants to be made by the Company when bonds are
issued by the EDC for the benefit of the Project.
C -1
IBC NORTH AMERICA, INC., a
Michigan Corporation
±:1)
(
Exhibit D
COMPANY CERTIFICATE REGARDING
PAYMENT OF PREVAILING WAGES
(IBC North America, Inc. Project)
The undersigned, IBC North America, Inc., a Michigan corporation (the "Company"),
hereby certifies to The Economic Development Corporation of the County of Oakland (the
"EDC") as follows:
1. The Company understands that this Certificate is a statutory requirement under
the Economic Development Corporations Act, Act No. 338 of the Michigan Public Acts of 1974,
as amended (the "Act") which, if improperly made or based upon any material misrepresentation
or inaccuracy, might invalidate the proceedings regarding the IBC North America, Inc. Project
(the "Project") pursuant to which the EDC expects ultimately to issue its limited obligation
economic development revenue bonds to finance all or part of the Project.
2. Within the meaning and intent of Section 8(4)(h) of the Act, all persons
performing work on the construction of the Project will be paid the prevailing wage and fringe
benefit rates for the same or similar work in the locality in which the work is to be perfoinied, as
determined pursuant to Act No. 166 of the Michigan Public Acts of 1965, as amended.
IBC NORTH AMERICA, INC., a
Michigan Corporation
By:
Its:
Dated:
Resolution #11101 May 19, 2011
Moved by Weipert supported by McGillivray the resolutions (with fiscal notes attached) on the Consent
Agenda be adopted (with accompanying reports being accepted),
Commissioner Jackson addressed the Board to give a special thanks to the General Government
Committee for passing Miscellaneous Resolution #11081 entitled Board of Commissioners — Declaration
of May 25, 2011 as National Missing Child Day in Oakland County; she also wanted to give thanks to
Youth Assistance.
Vote on Consent Agenda:
AYES: Crawford, Dwyer, Gershenson, Gingell, Gosselin, Greimel, Hatchett, Hoffman, Jackson,
Long, Matis, McGillivray, Middleton, Nash, Nuccio, Potts, Quarles, Runestad, Scott, Taub,
Weipert, Woodward, Zack, Bosnic, Covey. (25)
NAYS: None. (0)
A sufficient majority having voted in favor, the resolutions (with fiscal notes attached) on the Consent
Agenda were adopted (with accompanying reports being accepted).
I HEREBY APPROVE THE FORfGUJ6 RESOLUTIOI.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Bill Bullard Jr., Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true
and accurate copy of a resolution adopted by the Oakland County Board of Commissioners on May 19,
2011, with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the County of Oakland at
Pontiac, Michigan this 19th day of May, 2011.
Bill Bullard Jr., Oakland County