At its June 20, 2011 meeting, the Ann Arbor city council set the date for a public hearing on July 18, 2011 for a tax abatement for Picometrix LLC, located at 2925 Boardwalk in Ann Arbor. Picometrix is a supplier of high-speed optical receivers.
The 5-year abatement would apply to $2,434,882 of personal property that Picometrix is acquiring. From the application for abatement: “Due to the projected increase in production volume, the company will need to purchase assets to maximize production and support added staffing.”
The list of personal property included in the application ranges from garden-variety desks and cubicles to digital oscilloscopes and laser beam profilers. If the abatement were approved, it would reduce the company’s annual tax bill for the new equipment by about $16,500 annually. The new personal property would generate approximately $20,700 in property taxes for each year during the abatement period, according to the city staff memo accompanying the resolution.
The industrial development district in which the Picometrix tax abatement is sought was established in 2006.
At its June 6 meeting, the council held a public hearing on a proposed tax abatement for another company – Sakti3. No one spoke at that hearing, and the council did not take a vote on the abatement that evening. No council vote is currently scheduled for the Sakti3 abatement.
This brief was filed from the city council’s chambers on the second floor of city hall, located at 301 E. Huron. A more detailed report will follow: [link]