A new industrial development district has been established for the downtown Ann Arbor property at 317 Maynard St., which sets up the opportunity for Barracuda Networks to apply for a tax abatement as it moves from its current location on Depot Street to the downtown site. The vote establishing the district was taken by the Ann Arbor city council at its Aug. 9, 2012 meeting after a public hearing. The council’s vote was unanimous.
Under Michigan’s Act 198 of 1974, the next step for that abatement, on application from Barracuda, will be for the city council to set a public hearing on the abatement. After the public hearing, the council could then grant the abatement, which is estimated to be valued at around $85,000.
At its July 2 meeting, the Ann Arbor city council had voted to set the Aug. 9 public hearing on the industrial development district. A letter dated June 1, 2012 from First Martin to the Ann Arbor city clerk requested the establishment of the district. First Martin is the owner of the property at 317 Maynard.
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]