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Home My WebLink AboutResolutions - 2009.12.09 - 9733MISCELLANEOUS RESOLUTION 109297 December 9, 2009 BY: PLANNING AND Et:ILIDZNG CUi1T;tE JOHN SCOTT, CHAIRPERSON IN RE: PLANNING AND ECONOMIC DEVELOPMENT SERVICES DIVISION RESOLUTION APPROVING PROJECT AREA AND PROJECT DISTRICT AREA (XTREME POWER INC. PROJECT) - CITY OF WIXOM To the Oakland County Board of Commissioners Chairperson, Ladies a:1(i Gentlemen: WHEREAS there exists in the County of Oakland the need for projects to alleviate and prevent conditions of unemployment, to assist and retain local industrial and commercial enterprises in order to strengthen and revitalize the County's economy and to encourage the location and expansion of such enterprises to provide needed services and facilities to the County and its residents; and WHEREAS the Economic_ 1Development Corporations Act, Act No. 338 of the Michigan Public Acts of 1974, as amended (the "Act") provides a means for the encouragement ef such projects in this County through the County's Economic Development Corporation the E:IJC"I; and WHEREAS the EEC has commenced proceedings under the Act for the benefit of such a project (Xtreme Power Inc. Project; and has designated to this Board of Commissioners a Project Area and Project District Area for its approval. NOW THEREFORE BE 17 RESOLVED that the Oakland County Board of Commissioners hereby certifies and approves the Project Area as designated by the EDC, BE IT FURTHER RESOLVED Chat, it having been determined that the territory surrounding said designated Project Area will not be significantly affected by the Project because the surrounding territory is devoted to commercial/induWcr1a1 uses, a Project District Area having the same description as arid boundaries coterminous with the Project Area herein certified as approved be hereby established. BE IT FURTHER RESOLVED that, it having been determined that there are less than eighteen residents, real property owners, or representatives of establishments located within the Project District Area, a Project Citizens District Council shall not be formed pursuant to Section 20(b) of the Act. BE IT FURTHER RESOLVED that the County Clerk is hereby directed to provide four certified copies of this resolution to the Secretary of the Board of the EDC, Chairperson, on behalf of the Planning and Building Committee, I move the adoption of the foregojng resolution. PLANNING AND.BUILIDING COMMITTEE / PLANNING & BUILDING COMMITTEE VOTE: Motion carried unanimously on a roll call vote. • Xtreme Power Inc. City of Wixom EDC No. 10-01 Compan Project: Xtreme Power Inc.'s mission is focused on three sectors: I) replace fossil- fueled power plants with a green solution; 2) replace and defer Transmission and Distribution grid upgrades; and 3) lower energy costs and improve reliability for large industrial customers. Xtreme Power's proprietary technologies in storage, management, and manufacturing offer a compelling solution to the significant problem of large scale energy storage. Xtreme Power Inc. is seeking a $380 Million DOE Loan Guarantee, supplemented by $300 million of other financing, to renovate & rcpurpose a 4.7 million square feet idled Wixom Assembly Plant into a Renewable Energy Park filled with several green energy manufacturers, Xtreme Power's manufacturing facility will be an expansion of current manufacturing operations and will occupy one million square feet of the facility. No new construction is expected. Total capital investment will be approximately S475.3 Million, primarily for the renovations and the purchase of new machinery and equipment. Location: 28801 S. Wixom Road, Wixom, MI 48393 Project Financing EDC Bond: $100,000,000 Other Financing: $275,392,000 Equity: $100,000,000 $475,392,000 Project Cost: Land $ 0 Building (Purchase & Construction) $15,000,000 Building (Renovations) $70,500,000 Site Work $ 0 Machinery & Equipment $363,539,000 Engineering Fees $ 0 Professional Fees $ 0 Financing Fees & Costs $ 0 Other Costs $26,353,000 Total Project $475,392,000 Job impact: Owner: Jobs Created: 2,500 at full capacity Jobs Retained: 80 Xtrenae Power Inc. Prior Approvals: 1. County EDC: Resolution of Inducement (10/6/2009) 2. County EDC Resolution Recommending Project Area, Project District Area & Requesting Appointment of Additional Directors (10/6/2009) V' 1 157 111%,11n11:1iirAti`• •—r - 4.01" 4,141. 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Le oierled n11 r.ystein "las beall Infrplir,d 1,vri Tolcurd01 Lae. maas. Mho' rokthr. leoeade, and tala. 14 nal a eqIy taraided Mai] .0, SLICely and is na'•oleriden yr be us•ect z15: on (../1 oOata a ft? haleby ire I ormaann sourCeS mentioreil above Should be oc,re,,eiree la, veggie:a Liao di the treieirellioo Melted IA) NOV 13. 7009 Resolution #09297 December 9. 2009 Moved by Middleton supported by McGillivray the resolutions (with fiscal notes attached) on the amended Consent Agenda be adopted (with accompanying reports being accepted and appointments being confirmed). Discussion followed. Vote on Consent Agenda: AYES: Burns, Capello, Coleman, Coulter, Douglas, Gershenson, Gingen, Gosselin, Greimel, Hatchett, Jackson, Jacobsen, Long, McGillivray, Middleton, Nash, Potter, Potts, Runestad, Schwartz, Scott, Taub, Woodward. Zack, Bullard. (25) NAYS: None. (0) A sufficient majority having voted in favor, the resolutions (with fiscal notes attached) on the amended Consent Agenda were adopted (with accompanying reports being accepted and appointments being confirmed). 1 HEREBY WOVE THE FOREGOING REMOTION STATE OF MICHIGAN) COUNTY OF OAKLAND) I, Ruth Johnson, Clerk of the County of Oakland, do hereby certify that the foregoing resolutio rn is a true and accurate copy of a resolution adopted by the Oakland County Board of Commissioners on December 9, 2009. 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 9th day of December, 2009. ede Ruth Johnson, County Clerk