The third of four steps associated with a tax abatement for Barracuda Networks was taken by the Ann Arbor city council at its Sept. 4 meeting – setting a public hearing on the tax abatement, to be held Oct. 1, 2012.
The council had previously set a hearing on the establishment of an industrial development district (Michigan’s Act 198 of 1974) at 317 Maynard St. in downtown Ann Arbor and voted to establish that district at its Aug. 9, 2012 meeting. That set 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. [.jpg of parcel map showing 317 Maynard] [.jpg of aerial photo showing 317 Maynard]
Barracuda is a computer network security company. On its application for the abatement, expected to be worth $85,000, Barracuda indicates that it currently has 155 employees who will be retained due to the abatement and expects to add 144 additional employees by July 1, 2014. The property on which Barracuda is requesting the abatement ranges from cubicles and desk chairs to telephone network equipment and wiring.
This brief was filed from the city council’s chambers on the second floor of city hall at 301 E. Huron. A more detailed report will follow: [link]