HomeMy WebLinkAboutResolutions - 1998.08.20 - 25269• •
August 20, 1998
MISCELLANEOUS RESOLUTION #98186
BY: PLANNING AND BUILDING COMMITTEE, CHARLES E. PALMER, CHAIRPERSON
IN RE: DEVELOPMENT AND PLANNING DIVISION RESOLUTION APPROVING PROJECT PLAN
(RICHARD TOOL & DIE CORPORATION PROJECT) - LYON CHARTER TOWNSHIP
To Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS The Economic Development Corporation of the County of Oakland
(the "EDC") has recommended that the Board of Commissioners approve the
Project Plan required by the Economic Development Corporations Act (the "Act")
for the captioned Project, a copy of which has been presented to this meeting
(the "Project Plan"); and
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 and that the Project Plan satisfies all of
the requirements of the Act regarding project plans; and
WHEREAS the governing body of Lyon Charter Township, Oakland County,
Michigan, has also approved the Project Plan and given its consent to the
exercise of jurisdiction over 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 Commissioners, following such public hearing and
its review of the Project Plan, concurs in the determinations of the EDC with
respect thereto;
NOW THEREFORE BE IT RESOLVED that the Project Plan is hereby determined
to constitute a public purpose as contemplated by the Act and is hereby
approved; and
BE 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; and
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.
PLANNTN$ AND BUILDING—SMMITTEE
Planning and Building Committee:
Motion carried unanimously on a roll call vote with Johnson absent.
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan
Richard Tool & Die Corporation 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
RICHARD TOOL & DIE CORPORATION PROJECT
OWNER OF PROJECT:
Land and Building - RTD Realty LLC (Richard A. Heidrich)
Capital Equipment - Richard Tool & Die Corporation (Richard A. Heidrich - 100% shareholder)
CONTACT PERSON: (Name, address, telephone number)
Richard A. Heidrich
1974 Bayou Drive
Bloomfield Hills, MI 48302
• (248) 476-2150
LOCATION OF PROJECT: (Local municipality)
Lyon Township
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT:
Acquisition of land and construction of a 60,000 square foot tool & die manufacturing facility
and installation of machinery and equipment.
EMPLOYMENT CREATED OR RETAINED:
68 current jobs retained
25 new jobs created (minimum)
TOTAL PROJECT COST:
$6,900,000
BONDS TO BE ISSUED:
$6,900,000
LETTER OF CREDIT ISSUER OR BOND PURCHASER:
Comerica Bank
DATE AND EXPIRATION DATE OF LETTER OF CREDIT OR BOND PURCHASE
COMMITMENT: Not Applicable
By: / d
Ar
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 PROCEED-
INGS REGARDING THE PROJECT TO WHICH THE PROJECT
PLAN PERTAINS.
RICHARD TOOL & DIE CORPORATION
Its: reE5060-
Dated: :TO-t 13) IT
2
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
RICHARD TOOL & DIE CORPORATION PROJECT
I. 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 site for this proposed Project is currently vacant land. The proposed use for this site
is described in III below.
Legal description of Project Area attached as Exhibit A.
II. 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:
Not Applicable
III. 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:
Cost of land acquisition October 30, 1998 $1,250,000
Construction of building July, 1999 $3,500,000
Site work and engineering December, 1998 $250,000
Machinery and equipment October, 1999 $1,750,000
Other fees and costs July, 1999 $150,000
$6 900 000
3
IV. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF EACH
STAGE:
See Item III
V. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO BE LEFT AS
OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
The green areas and setbacks around the manufacturing facility.
VI. 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:
Not Applicable
4
VII. A DESCRIPTION OF DESIRED ZONING CHANGES AND CHANGES IN
STREET, STREET LEVELS, INTERSECTIONS AND UTILITIES:
Not Applicable
VIII. 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:
Tax-exempt bonds to be secured by a Comerica Bank Letter of Credit and privately placed
by Comerica Securities.
Copy of Letter of Credit or bond purchaser's commitment letter attached as Exhibit B.
IX. 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
5
X. A LIST OF PERSONS WHO WILL MANAGE OR BE ASSOCIATED WITH
THE MANAGEMENT OF THE PROJECT FOR A PERIOD OF NOT LESS THAN I (ONE)
YEAR FROM THE DATE OF APPROVAL OF THE PROJECT PLAN:
Richard A. Heidrich
XI. 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:
Owners of the Project
XII. 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 LEASING, PURCHASING OR CONVEYING OF THE PROJECT UPON
ITS COMPLETION:
Not Applicable
XIII. 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
TURNOVER OF THE VARIOUS TYPES OF HOUSING AND THE RANGE OF RENTS AND
6
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
XIV. A PLAN FOR ESTABLISHING PRIORITY FOR THE RELOCATION OF
PERSONS DISPLACED BY THE PROJECT IN NEW HOUSING IN THE PROJECT AREA:
Not Applicable
XV. 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
7
XVI. 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
XVII. OTHER MATERIAL AS THE ECONOMIC DEVELOPMENT CORPORATION,
LOCAL PUBLIC AGENCY, OR GOVERNING BODY CONSIDERS PERTINENT:
Not Applicable
8
Exhibit A
Legal Description
PARCEL A-1
Part of the Sri of Sec. 2, T1N, R7E, Lyon Township, Oakland County,
Michigan, de'acribed as beginning at a point located N 87'26'55NE 656.21
ft and N 01•52'14,/ 536.76 ft from the S 1 corner of Sec. 2, TIN, 171C; Th N 01 6 52'14°N 563.03 ft to the S'ly right-of-way line of 1-56; Th
S 48•39 .29"E 750.18 ft along the S'ly line of 1-96; Th S 01 6 52 .14"E
259.15 ft; Th S •7•26'55W 689.50.gt to the point of beginning.
Containing 6.5 acres.
PARCEL A-2
Part of the SEI of Sec. 2, T1N,.17E, Lyon Township, Oakland County,
Michigan, described as beginning at a point on the south line of Sec. 2,
located N 87•26'55"E 656.21 ft from the S i corner of Sec. 2, T1N, Itn;
Th N 01°S2'14"N 536.76 ft; Th N 87 6 26'55"E 689.50 ft; Th S 01•52 1 14"Z
536.76 ft to the south line of Sec. 2; Th $ 87•26'55"N 689.50 ft along
the south line of Sec. 2 to the point of beginning. Containing 8.5 acres
Milli? 8
CamAnt Oink
July 17, 1998
Mr. Richard A. Heidrich
President
Richard Tool & Die Corporation
28600 Grand River Avante
Farmington, l'vechigan 48335
Dear Rick:
I am pleased to confirm that Comerica BAZIk has agreed to provide a $7,025,000 letter of
credit to Richard Tool & Die Corporation and an LIC to be formed which will support the public
offering of variable rate Industrial Development Revenue Bonds. The Bank's commitment expires
one hundred & eighty days from the date of this letter, by which time the transaction must be
closed. Additional terms and conditions of our approval will be outlined under a separate cover.
Thank you for choosing Comerica as your relationship bank and I personal look forward
to working with you on this.
RICHARD TOOL & DIE CORPORATION,
a Michigan corporation
Its: fkiS/4e447
By:
Exhibit C
COMPANY CERTIFICATE REGARDING
TRANSFER OF EMPLOYMENT
(Richard Tool & Die Corporation Project)
The undersigned, Richard Tool & Die Corporation, 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 Richard Tool & Die Corporation 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 Lyon Township, Michigan, the municipality in which the Project will be
located, except from the City of Farmington Hills, Michigan, from which a consent to such
transfer has been obtained.
S. 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.
Dated: SE-- it /3) /q96
C-1
e5;r2):7.
Resolution #98186 August 20, 1998
Moved by Palmer supported by Hoffman the resolution be adopted.
AYES: Devine, Dingeldey, Douglas, Garfield, Gregory, Hoffman, Holbert,
Huntoon, Jacobs, Jensen, Johnson, Kaczmar, Kingzett, Law, McCulloch, McPherson,
Moffitt, Obrecht, Palmer, Schmid, Taub, Wolf, Amos, Coleman. (24)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
HE FOREGOING RESO LUTION
e 0-11 9
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, 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 August 6, 1998 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 6th day of August 1998.
Lynn/D.'Allen, County Clerk