HomeMy WebLinkAboutResolutions - 2000.07.20 - 26041July 20, 2000
MISCELLANEOUS RESOLUTION # 00181
BY: PLANNING AND BUILDING COMMITTEE, CHARLES E. PALMER, CHAIRPERSON
IN RE: PLANNING AND ECONOMIC DEVELOPMENT SERVICES DIVISION RESOLUTION
APPROVING PROJECT PLAN (FOX ALUMINUM PRODUCTS INC. PROJECT) - CITY OF HAZEL
PARK
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 the City of Hazel Park, 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.
Planning and Building Committee Vote:
Motion carried unanimously on a roll call vote
with Sever absent.
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan
Fox Aluminum Products 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
"D" - Company Certificate Regarding Payment of Prevailing Wages
Other
PROJECT PLAN
SUMMARY DESCRIPTION OF
FOX ALUMINUM PRODUCTS INC. PROJECT
OWNER OF PROJECT: Fox Aluminum Products Inc., a Michigan corporation, and James
Fox Building Company LLC, a Michigan limited liability
company
CONTACT PERSON: James Fox
Fox Aluminum Products Inc.
25170 John R
Madison Heights, MI 48071
(248/399-4288)
LOCATION OF PROJECT: Hazel Park, MI
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT: The project consists of the construction of an approximately
42,400 square foot manufacturing facility and the
installation of certain machinery and equipment for use in
operating the facility (the "Project").
EMPLOYMENT CREATED OR RETAINED: Employment Retained: 25
(Madison Heights: 19, Hazel Park: 6)
Employment Created: 8
TOTAL PROJECT COST: $2,500,000
BONDS TO BE ISSUED: $2,000,000
LETTER OF CREDIT ISSUER OR BOND PURCHASER: Peoples State Bank
DATE AND EXPIRATION DATE OF LETTER OF CREDIT OR BOND PURCHASE
COMMITMENT: Letter of Credit Commitment is dated June , 2000 and will expire June
, 2000.
FOX ALUMINUM PRODUCTS INC., a Michigan
corporation
James Fox
President
Dated: June 7, 2000
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.
2
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
FOX ALUMINUM PRODUCTS INC. 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 land that will be used as a part of the Project is not currently commercially developed.
An unoccupied house is located on the parcel and will be demolished as part of the Project. The
parcel is located south of Maple, north of Woodward Heights, and east of Hughes in the City of
Hazel Park.
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:
Fox Aluminum Products Inc. is a manufacturer of aluminum storm doors, storm windows,
and machine guards. The Project consists of the construction of an approximately 42,400 square
foot manufacturing facility and the installation of certain machinery and equipment for use in
operating the facility.
It is expected that the land, building, and site work will cost approximately $2,000,000.
Another $500,000 has been budgeted for machinery and equipment and costs associated with
issuing the bonds. The Project will start in July, 2000 and is expected to be completed by
February, 2001.
(See also IV for more detail)
3
IV. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF EACH
STAGE:
Acquisition of site: 1998
Begin construction: July, 2000
Complete construction: February, 2001
Machinery and equipment will be installed over time after completion of construction.
(See also III)
V. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO BE LEFT AS
OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
Green areas, less ingress and egress to the road and areas set aside for a parking lot, will
surround the building after completion. There is no other intended use for the open space.
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
VII. A DESCRIPTION OF DESIRED ZONING CHANGES AND CHANGES IN
STREET, STREET LEVELS, INTERSECTIONS AND UTILITIES:
None
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:
The Project is anticipated to be financed with tax-exempt bonds issued by the Economic
Development Corporation of the County of Oakland and secured by a Peoples State Bank direct
pay letter of credit.
Copy of Letter of Credit commitment attached as Exhibit B.
4
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):
Company certificate regarding payment of prevailing wages attached as Exhibit D.
X. 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:
James Fox, President
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:
The Project is being undertaken for the benefit of Fox Aluminum Products Inc., which
will have operations within the facility and own the machinery and equipment portion of the
Project, and James Fox Building Company LLC, which will own the real estate portion of the
Project that will be leased to Fox Aluminum Products Inc.
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
SALE PRICES, AN ESTIMATE OF THE TOTAL DEMAND FOR HOUSING IN THE
5
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
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
6
EXHIBIT A
LEGAL DESCRIPTION
"ASSESSOR'S PLAT OF
9-112 MILE SMALL FARM SUBDIVISION"
WEST 20' OP LOT 129, ALL OF LOTS 130-137 AND
ma WEST 20' OF LOT 138 OF
PART OF THE NORTHEAST 14 SECTION 25,
TIN., R.11E.,
CITY OF HAZEL PARK, OAKLAND COUNTY, MICHIGAN
AS RECORDED IN LIBER 56 OF PLATS
PAGE 41 OF OAKLAND COUNTY RECORDS_
Issuer:
Obligors:
Bond Term and-Amortization
Underwriter:
Trustee:
Structure of Issue;
06/28/2000 08:28 1-248-541 -5435 FOXALUMINUM . PAGE 05
Exhibit B
•
PEOPLES
STATE BANK
-+-
We Put People First
June 22, 2000
Mr. James Fox
Fox Aluminurn Products, Inc.
-and -
James Fox Building Company, L.L.C.
25170 lohn R.
Madison Heights, Michigan 48071
Dear Mr. Fox:
We are pleased to confirm that Peoples State Bank (the "Bank") has approved issuance of its irrevocable direct
pay letter of credit to provide credit enhancement for bonds (the "Bonds") aggregating up to Two Million Thirty
Thousand and 00/100 Dollars ($2.030,000.00). This letter is the Bank's offer to commit to issue said letter of
credit (the "Letter of Credit") subject to the terms and conditions described herein and to documentation
satisfactory in form and content to the Bank, to the Bank's Legal Counsel, to Bond Counsel, to the Underwriter,
and to the Issuer. This letter further contains Bank's offer to renew an existing One Hundred Fifty Thousand and
00/100 Dollars ($150,000.00) Line of Credit for Fox Aluminum Products, Inc.
This offer to commit shall expire at the Bank's option if (a) the Bank has not received acceptance by the
Acceptance Date, (b) Closing does not occur on or before the Expiration Date, or (c) there is a material adverse
change in the financial condition or affairs of Fox Aluminum Products, Inc. or lames Fox Building Company,
L.L.C. from that represented to the Bank.
A. GENERAL BOND TRANSACTION TERMS
The Economic Development Corporation of the County of Oakland
Fox Aluminum Products, Inc. (the "Corporate Obligor") and
James Fox Building Company, L.L.C. (the "LLC Obligor")
Bond size:
Purpose of financing:
Up to $2,030,000
To provide funding for the construction of a new 42,400 square foot
building, and acquisition and installation of a new crane, new welding
fixtures and related equipment.
Up to twenty (20) year maturity; with monthly payments pursuant to
the Loan Agreement and Trust Indenture.
Comerica Securities
To be determined
Bonds shall be tax-exempt, variable rate demand Bonds, monthly rate
mode.
1800 East Twelve Mile Road • P.O. Box 71485 • Madison Heights, MI 48071-0485 • 248-548-2900 • Fax 248-399-7905
06/28/00 WED 08:43 [TX/RX NO 5006]
Subordination of Officer Debt:
Letter of Credit Fees:
06/28/2000 08:28 1-248-541-5435 FOXALUMINUM PAGE 01
Mr. James Fox
June 22, 2000
Page 2
B. GENERAL LETTER OF CREDIT TERMS AND CONDITIONS
Letter of Credit Amount: The principal amount of Bonds at any time outstanding, plus the
appropriate amount (depending upon structuring) of covered interest.
Letter of Credit Term: Up to 5 years, renewable at option of Bank
Collateral: First priority real estate mortgage and security interests, with
assignment of rents and leases, in Hazel Park facility (including real
estate, fixtures and equipment), and all assets of the Corporate Obligor,
subject to "Permitted Encumbrances" as defined in Reimbursement
Agreement or Bond documents.
Guarantees: Unconditional joint and several personal guarantees of James Fox and
Judith Fox
Cross-Collateralization:
Drawing Interest Rate:
Tendered Bonds:
Increased Costs:
Obligations of the Obligor under the Reimbursement Agreement shall
be cross-collateralized and cross-defaulted with all other loans by the
Bank to either Obligor or to either Guarantor.
Existing officer debt (of approximately $74,000) shall be subordinated
to the interests of the Bank.
Prepaid annually at a rate of 1.50% per annum of the outstanding
amount of the Letter of Credit. Such fees shall be computed for the
actual number of days in the fee period, with a 360-day year basis.
Amounts drawn upon under the Letter of Credit for payment to the
Trustee shall be reimbursed by Obligor, to the Bank not later than the
same day, with no interest thereon. Amounts not reimbursed the day of
drawing shall accrue interest from said date until paid at a variable rate
of interest per annum equal to the sum of the Bank's Prime
Commercial Borrowing Rate (the "Base Rate") plus one-half percent
(0.5%) computed for the actual number of days elapsed, with a 360-
day-year basis, and shall be payable monthly. The Bank's prime rate is
the rate announced by the Bank from time to time as its prime
commercial lending rate and is not necessarily the lowest rate charged
by the bank at any time.
If for any reason tendered Bonds cannot be immediately remarketed,
the documentation shall provide for the Trustee to hold such Bonds for
the Bank until they can be remarketed, with variable rate of interest per
annum equal to the Base Rate.
Obligor, at the Bank's option, shall pay any increase in Bank's cost of
issuing or maintaining the Letter of Credit, or any decrease in Bank's
fees or other compensation for the Letter of Credit, resulting from:
(a) Change in Law: Any change in law or regulation or interpretation
thereof by any court, administrative, banking, or regulative body,
enacted or effective after the date of this letter; or
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06/28/2000 08:28 1-248-541-5435 FOXALUMINUM PAGE 02
Mr. James Fox
June 22, 2000
Page 3
(b) New Taxes or Other Charges: Any imposition of applicable
reserves, special deposits, risk/capital adequacy, or similar
requirements against letters of credit, or any new charge or tax on
banks with respect to letters of credit.
Covenants and Events of Default: By way of example and not limitation, these shall include (unless Bank
gives prior written consent) prohibition or restriction of changes in
capital structure, investments or advances to other entities, including
subsidiaries, mergers or substantial sale of assets, other indebtedness or
encumbrances (except "Permitted Encumbrances"). Covenants shall
require, without limitation, maintenance of adequate hazard insurance,
and (at option of Bank) escrow accounts for property taxes and
insurance premiums. Obligors shall provide annual tax returns, and
audited financial statements and Guarantors shall provide annual
personal financial statements and tax returns. Events of default shall
include, without limitation, breach or default on any Bond, collateral,
or guaranty document, or the Reimbursement Agreement, or breach or
default on any other loans made by Bank to Obligors or any Guarantor.
C. GENERAL LINE OF CREDIT RENEWAL TERMS
Obligor: Fox Aluminum Products, Inc.
Line of Credit Amount: $150,000
Purpose: To provide funding for accounts receivable and inventory financing.
Term and Amortization: Twelve (12) months, with monthly interest only payments; due in full
on June 1,2001,
Interest Rate: Base Rate plus one percent (1.00%)
Collateral: Continued first priority real estate mortgage and security interests, with
assignment of rents and leases, in Obligor's John R/Madison Heights
facility, and all assets of the Obligor.
Guarantees: Continued unconditional joint and several personal guarantees of James
Fox and Judith Fox.
Cross-Collateralization: Obligations of the Obligor shall be cross-collateralized and cross-
defaulted with all other loans by the Bank to Obligor or to either
Guarantor.
Subordination of Officer Debt: Existing officer debt (of approximately S74,000) shall be subordinated
to the interests of the Bank.
Reporting Requirements: Obligor shall provide annual tax returns and audited financial
statements and Guarantors shall provide annual tax returns and personal
financial statements.
06/28/00 WED 08:43 [TX/RX NO 5006]
06/28/2000 08:28 1 -248-541-5435 FOXALUMINUM , PAGE 03
Mr. James Fox
June 22, 2000
Page 4
C. EME,...C.QNDMONS,OF THE BANK'S OFFER TO COMMIT
Closing: As soon as possible, but no later than September 15, 2000
Costs and Expenses: Bond and Bank Counsel fees, Issuer fees, Underwriter and Trustee
Pees, and all other costs and expenses incurred in connection with this
financing shall be the responsibility of Obligors.
Title Insurance: Obligors shall furnish the Bank at Closing with an ALTA Policy of
Title Insurance, without standard exceptions, and in conformity with
the Bank's loan policy requirements.
Survey: Obligors shall furnish to Bank, at least ten (10) days prior to Closing,
an ALTAJACSM Survey of the Hazel Park facility, in form and content
acceptable to Bank, with such certifications as may be required by the
Bank, to be followed by an as-built survey upon final acquisition,
construction and installation of the Project.
Appraisal:
Insurance:
Environmental Audit:
Commitment Fees:
• Obligors shall furnish to Bank, at least ten (10) days prior to Closing, a
written MAI appraisal prepared in conformity with the Bank's appraisal
requirements, satisfactory to the Bank in all respects, including, without
limitation, a conclusion of fair market value of the Project as completed
of not less than $2,000,000. The appraiser will be selected and directly
engaged by the Bank. Cost of the appraisal will be paid by the
Obligors at Closing.
Obligors shall furnish to Bank, at least ten (10) days prior to Closing,
evidence of insurance and shall at all times comply with the Bank's
insurance requirements.
Obligors shall furnish to Bank, at least ten (10) days prior to Closing, a
Phase I environmental audit satisfactory to Bank in all respects,
prepared by an environmental auditing firm approved by Bank. Cost of
the audit will be paid by the Obligors at Closing.
Obligors shall pay Bank a non-refundable Letter of Credit Issuance fee
in the amount of one percent (1%) of the face amount of the Letter of
Credit concurrently with the issuance of the Letter of Credit. Obligor
shall pay Bank a non-refundable processing fee of $500 concurrently
with the renew of the Line of Credit.
The Bank's obligation under this Commitment shall be subject to satisfaction of all of the
conditions contained herein. The issuance of this Commitment shall not prejudice the Bank's rights of review
and approval, including without limitation, of all documents and materials heretofore delivered to the Bank by or
on behalf of the Obligors.
06/28/00 WED 08:43 [TX/RX NO 5006]
Its: Its:
08/28/2000 08:28 1-248-541-5435 FOXALUMINUM ,PAGE 04
Mr. James Fox
June 22, 2000
Page 5
This letter sets forth our entire commitment with Obligors and cannot be modified in any way,
except by a future amendment in writing, signed by Obligors and the Bank. This commitment takes the place of
any preliminary discussions and negotiations and supersedes any previous written agreements or understandings
between the parties. This letter is for the sole benefit of Obligors. Prior to Acceptance, disclosure of the terms of
this letter is not authorized except with the Bank's prior written consent.
If the terms and conditions of this commitment offer are acceptable, please execute and return a
duplicate copy of this commitment letter as indicated as soon as possible but no later than June 30, 2000, the
"Acceptance Date". Upon acceptance on or before the Acceptance Date, this letter constitutes a valid and binding
commitment until its Expiration Date of September 15, 2000.
Sincerely;
PEOPLES STATE BANK
By;
bpavid M. Borcherding
Assistant Vice President
The above terms and conditions are hereby acknowledged and accepted this , day of , 200(1
OBLIGOR: OBLIGOR:
FOX ALUMINUM PRODUCTS, INC. JAMES FOX BUILDING COMPANY, L.L.C.
By: By;
GUARANTOR: GUARANTOR:
James Fox Judith Fox
k%PindkadncenillittnatItIOW•romdoe
06/28/00 WED 08:43 [TX/RX NO 50081
James Fox
Exhibit C
COMPANY CERTIFICATE REGARDING
TRANSFER OF EMPLOYMENT
(Fox Aluminum Products Inc. Project)
The undersigned, Fox Aluminum Products 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 Fox Aluminum Products 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 will 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 the City of Hazel Park, Michigan, the municipality in which the Project will
be located.
FOX ALUMINUM PRODUCTS INC., a Michigan
corporation
It.( President
Dated: June 7, 2000
FOX ALUMINUM PRODUCTS INC., a Michigan
corporation
ftriids 1-ox
Iti/ President
Exhibit D
COMPANY CERTIFICATE REGARDING
PAYMENT OF PREVAILING WAGES
(Fox Aluminum Products Inc. Project)
The undersigned, Fox Aluminum Products 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 Fox Aluminum Products 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 performed, as determined
pursuant to Act No. 166 of the Michigan Public Acts of 1965, as amended.
Dated: June 7, 2000
I HEREB)>roRT/
L Brooks Pattsusork dounty Executive
E FOREGOING RESOIrUTION
Date
NMI
Resolution #00181 July 20, 2000
Moved by Jensen supported by Gregory the resolutions on the Consent Agenda
be adopted with accompanying reports being accepted.
AYES: Appel, Buckley, Causey-Mitchell, Coleman, Dingeldey, Douglas,
Garfield, Gregory, Jensen, Law, McCulloch, McPherson, Melton, Millard, Moffitt,
Obrecht, Palmer, Schmid, Sever, Suarez, Taub, Amos. (22)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolutions on the
Consent Agenda were adopted with accompanying reports accepted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, G. William Caddell, 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 July 20, 2000 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 20A,h day/bf July, 2000.
G. William Caddell, County Clerk