| | | | | | | | City of Marquette, MI
300 West Baraga Avenue
Marquette, MI 49855
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| | | | | | | | Agenda Date: 3/10/2025
Consent Agenda - Roll Call Vote
Schedule Public Hearing – Able Medical Devices Industrial Development District |
| | | | | | | | | BACKGROUND: | In August 2024, Longyear Realty Corporation, on behalf of Able Medical Devices, requested the city create an Industrial Development District for their site with the intent to apply for a tax abatement in accordance with PA 198 of 1974 Industrial Facilities Tax Exemption. The requested district will include a portion of the parcel owned by Longyear Realty Corporation as outlined on the attached map.
An Industrial Development District is a designated area established by the legislative body of a city. These districts are created to support eligible businesses in making new investments in Michigan. Tax abatements provided within these districts help Michigan manufacturers by lowering the tax burden on investments, making it more feasible to build new facilities, expand current operations, renovate older buildings, or acquire new machinery and equipment. An Industrial Development District must be established prior to an application for a tax abatement is processed.
A public hearing is a required step in the process to establish an Industrial Development District. |
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| | | | | | | | | RECOMMENDATION: | | Schedule a public hearing to establish the proposed Industrial Development District for Able Medical Devices at the March 31, 2025 City Commission meeting. |
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| | | | | | | | | ALTERNATIVES: | | As determined by the Commission. |
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