US: CARMEUSE LIME AND STONE INVESTING IN A CALCITE PLANT
Company seeking tax abatement from the city
(CW Group) Carmeuse Lime and Stone has started the process to request a tax abatement from the City of Rogers City, Michigan, reports The Alpena News.
The city council approved a motion on May 2 at a meeting, to schedule a public hearing on the issue for the next meeting, on June 6.
“Carmeuse plans to invest in the Calcite plant,” City Manager Joe Hefele said. According to a manager’s report, the company wants to invest USD 39 million in a five-year period, with most of this investment focused in equipment, while the rest will go toward real estate property.
“It’s my understanding with the (Michigan Economic Development Corporation) is the company will seek a tax abatement associated with USD 1,471,100 of the proposed work,” Hefele said.
The Michigan Strategic Fund Board has already processed and approved the request, and the MEDC staff who contacted Hefele said it’s up to the city to consider.
The first step before an abatement can be approved is to create an industrial development district within which an application for an abatement could be considered at the local level, but that district cannot be created until a public hearing has been conducted.
Copyright CW Group. All rights reserved. Unauthorized distribution expressly prohibited.
