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035 ¢¢ (B)
CITY OF
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Agenda Item Review Form
Muskegon City Commission
Commission Meeting Date: August 12, 2025 Title: PA 198 Industrial Facilities Exemption - 701 W.
Laketon Ave.
Submitted by: Jocelyn Hines, Development Department: Economic Development
Analyst
Brief Summary:
Pursuant to Public Act 198 of 1974, as amended, Molding Media of America, 701 W. Laketon Ave. has
requested the issuance of an Industrial Facilities Exemption Certificate for the property located at 701
W. Laketon Ave.
Detailed Summary & Background:
Molding Media of America (MMA) has submitted an application for an Industrial Facilities Exemption
(IFT) certificate for real property improvements at 701 W. Laketon Avenue, the former Great Lakes Die
Cast facility. The company is proposing a capital rehabilitation investment of $185,000. If approved,
the IFT certificate would reduce property taxes on the real property improvements by 50%.
MMA is a newly established company created in response to the anticipated closure of the current
fiberglass supplier for SRS Fiberglass Products. To fill this gap in the market, MMA intends to develop a
68,000 sq. ft. fiberglass processing facility to serve the automotive, commercial interiors, and HVAC
markets. In addition to the real property investment, the company plans to make significant
investments in equipment and create approximately 50 high-paying jobs over the next two years.
As a new business, MMA has signed the City's Equal Employment Opportunity and Inclusive
Workforce Develooment Letter (attached), affirming its commitment to building a workforce that
reflects the diversity of the City of Muskegon. The City’s EEO & Employee Relations Director, in
collaboration with the Economic Develooment Department, will monitor the company’s progress
toward these workforce goals.
Following review, the City's Internal Tax Committee recommends approval of a 9-year abatement
term for the proposed investment.
Goal/Action Item:
2027 Goal 2: Economic Development Housing and Business - Progress toward new and ongoing
economic development projects
Is this a repeat item?:
Explain what change has been made to justify bringing it back fo Commission:
Amount Requested: Budgeted Item:
Michigan Department of Traasury
4012 (Rev, 09-22), Page 1 of 4
Application for Industrial Facilities Tax Exemption Certificate
Issued undéraithority of Public Act 198 of 1974, aa amandad. Filing is mandatory,
INSTRUCTIONS: File the completed application and the required attachments with the clerk of the lacal government unit, If you have any
questions regarding the completion of this form, call 517-335-7491.
ny
G SNe
> Date Received by Local Unit
> Application Number > Date Recelved by STC
APPLICANT INFORMATION
All boxes must be completed.
> 18. Company Name (Applicant must be the accupant/operator of the facility) > 4b. Standard indusirial Classification (SIC) Code - Sec. 2(10) (4 of 6 Digit Gade)
Molding Media of America 5099
> 1c, Facility Addrass (City, State, Z(P Code) (real and/or personal property location) > td, City/Township/village (indicate which} > 168. County
701 W. Laketon Avenue, Muskegon, MI_ 49441 _| City Muskegon
> 2. Type of Approval Raquested > 3a, School District where facility is located > 3b, School Code
New (See. 2(5)) [|_| Transfer Muskegon Public Schools 610-01
Speculative Building (Sec. 3(8)) Rehabilitation (Sec. 3(6)) |4. Amount of years requested for exemption (1-12 Years)
Research and Development (Sec. 2(10)) a Increase/Amendment | 7
5. Per saction 5, the application shall contain or be accompanied by a general description of the facility and a general description of the proposed use of the facility, the general
nature and extent of ine restoration, replacement, or construction to be undertaken, a daacriptiva list of the equipment that will be part of the facility. Attach additional page(s) if
more room is needed.
See attached
caseeeneeeeiee > 185,000.00
Ga. Cost of land and building improvements (excluding cost of FANd) ooo... ccccsccssesssssesssessssssssenus
* Attach list of Improvements and associated costs. Real Properly Costs
* Also attach a copy of bullding permit if project has already begun.
6b. Cost of machinery, equipment, furniture and fixtures. ee esteem sete cote uae ue cent de casaseteeen > 1,138,386.43 Costs
* Attach itemized listing with month, day and year of beginning of installation, plus total Personal Property
ssncascann > 1,323,386.43
Bo, Total Project Costs ..cccccsescsssesss sscssstsssessssesasetsssisnatisnicesstetieinstusniuiensasisneusqnasennenee
* Round Costs to Nearest Dollar Total of Real & Personal Costs
7. Indicate the time schedule for start and finish of construction and equipment installation. Projects must be completed within a two year perlod of the effective date of the
certificate unless otherwise approved by the STC.
; Begin Date (M/D/Y) End Date (M/D/Y)
Real Property Improvements » 08/01/2025 2/26/2026 > {_|Owned [X] Leased
Personal Property improvements > 08/01/2025 02/26/2026 r [X] Owned [ _|Leased
> 8. Are State Education Taxes reduced or abated by the Michigan Economic Davalopment Corporation (MEDC)? If yes, applicant must attach a signed MEDC Letter of
to receive this exemption.
Commitment Yes [| No
> 9. No. of existing jobs at this facility that will be retalned as a result of this project. > 40. No. of new jobs at this facility expected to create within 2 years of completion.
0 50
71. Rehabilitation applications only: Complete a, b and ¢ of this section, You must attach the assessors statement of SEV for the entire plant rehabilitation district and
obsolescence statement for property. The Taxable Value (TV) data below must be as of December 34 of the year prior to the rehabilitation.
ntune
wien: seas seetinieiesqnie
a, TV of Real Property (axoluding fand) .ccsssussnsnesu tviat
insescitststnie s 185,000.00
nenenseeae
b. TV of Personal Property (excluding inventory) 1,138,386.43
G. Total TV iccnecectesteeeecenerenssaneeeenies 1 323,386.43
> 12a. Check the type of District the facility is located in:
[7] industrial Development District Plant Rehabilitation District
> 12b. Date district was established by local government unit (contact local unit} > 12c., is this application for a speculative bullding (Sec. 3(B))?
07/22/2025 [| Yes No
economic development
August 5, 2025
Johnathan Seyferth
City of Muskegon
933 Terrance St.
Muskegon, MI 49440
Subject: Letter of Support for Molding Media of America
Mr. Seyferth,
Greater Muskegon Economic Development (GMED) is pleased to offer its full support for Molding Media
of America’s planned opening in the City of Muskegon. This significant project entails a $1.3 million dollar
capital investment and is anticipated to create 50 new jobs in our community over the next two years. As
the leading economic development agency in Muskegon County, GMED recognizes the profound impact
this project will have on our community’s workforce and vitality.
GMED strongly supports the approval of a 9-year tax abatement for Molding Media of America’s project.
This abatement will make the project more practical and affordable, encouraging Molding Media of
America to invest in our community. By reducing the initial tax burden, the abatement will enable Molding
Media of America to allocate more resources towards innovation, workforce development, and
operational excellence.
GMED has always championed projects that foster economic growth, innovation, and job creation.
Molding Media of America’s project aligns seamlessly with these objectives and is aligned with our goal
to increase new businesses, and support our employers. We are confident that this investment will yield
significant returns for City of Muskegon and its residents.
Thank you for your consideration of this positive economic development initiative.
Sincerely, _
Lb Bt—n
Trevor Friedeberg °
iS
President & CEO
Greater Muskegon Economic Development
This institution is an equal opportunity provider and employer.
380 W. Western Ave. STE 202, Muskegon, MI 49440
PHONE 231-722-3751 * FAX 231-728-7251 - Eman info@developmuskegon.org cleayeste SOT rey
June 18, 2025
General Description of Facility
Molding Media will be a 68,000 sq ft. fiberglass processing facility. Processing fiberglass for
the automotive, commercial interiors, and HVAC markets. Knauf Insulation is a major
fiberglass supplier which has discontinued their molding media product. Molding Media
has taken the opportunity to purchase equipment to fill the void. The projection is to create
50 new jobs over the next 2 years.
CITY OF
MUSKEGON
Letter of Intent: Equal Employment Opportunity and Inclusive Workforce Development
Molding Media of America, LLC reaffirms its ongoing commitment to the principles of equal
opportunity, diversity, equity, and inclusion. In alignment with the intent of applicable executive
orders and the City of Muskegon’s Equity and Inclusion goals, we will continue to partner with
the City’s Equal Employment Opportunity (EEO) Director and the Development Services
Department to review, maintain, and strengthen our Equal Employment Opportunity policies and
practices.
Our Commitment
It remains the policy of Molding Media of America, LLC to provide equal employment
opportunities based solely on merit, qualifications, and business need—without discrimination
based on race, color, religion, sex, national origin, age, disability, weight, height, veteran status,
marital status, sexual orientation, or gender identity.
We are committed to advancing workforce diversity and will continue to evaluate our internal
metrics as we work toward the City’s goals of achieving 14% minority and 6.9% female
representation in our workforce.
Molding Media of America, LLC is dedicated to identifying and eliminating systemic barriers
that may prevent underrepresented groups from fully participating in our employment processes.
We will continue to source, recruit, and engage talent from the greater Muskegon community,
and we will prioritize the intentional inclusion of minority and women candidates who meet the
minimum qualifications for open positions.
As part of our ongoing efforts, Molding Media of America, LLC will follow up in one year to
assess progress toward these goals and to identify areas of improvement, ensuring accountability
and continued alignment with our commitments. .
This policy and our commitment to it are hereby reaffirmed by:
Name, Position
Molding Media of America
July 15, 2025
234.724.6705 | 933 Terrace St, Muskegon, MI 49440-1397 | www.shoreilnecity.com
Equipment List
AIS — purchased an oven ~ cost: $63,555 (plus installation)
>
Boh
IPT - purchased a rewinder— cost: $102,550.00
Navis Tube Tex— purchased a compression foam system — cost: $776,450.00
2572 Foam Injector - $ (can give you cost on Tuesday)
ng
Work
Rehab/Remodeli
Painting & Flooring - $30,000
>
ONOaArwhd
Office Windows - $30,000
Roofing - $50,000
Electrical - $15,000
AC - $5,000
Bathroom remodel - $5,000
— $40,000
Driveway
- $10,000
Heating
Total = $185,000.00
Pro ment
**50 employees over the next 2 years
" Operators - $20.00 per hour
« Managerial/Supervisors - $30.00 per hour (possibly salaried)
«" Maintenance - $30.00
* Office Staff - $21.00 - $25.00
MUSKEGON COUNTY
M Ic oH I! G A N
701 W Laketon Ave
August 11, 2025
RE: 701 W Laketon Ave (POLP 24-370-002-0001-00)
The structure at 701 W Laketon Ave Muskegon MI 49441 (part of parcel 61-24-
370-002-0001-00) consists of a multi-story industrial building. The entire parcel
has a current taxable value of $1,566,363. The parcel has been approved for a
split and the parcel resulting of 4.26 acres. The contributory value of this split
parcel has a true cash value of $593,811. The land carries a true cash value of
$64,041. The parcel has a SEV of 296,900 including land and an SEV of $264,900
excluding the land.
Assessing
City of Muskegon
EQUALIZATION * 173 E APPLE AVENUE* STE. 201 * MUSKEGON, MICHIGAN 49442
PHONE 231-724-6386 * FAX 231-724-1129 * www.co.muskegon.mi.us/equalization
Affidavit of Functional Obsolescence
Project
Former Dilesco/Great Lakes Diecast
701 W Laketon Ave
Muskegon, MI 49441
Inspection
The subject property was inspected on Tuesday August 5, 2025, by Donna Vandervries, Wesley
Dault and Justin George from the Muskegon County Equalization Department with Russ
Kwiatkowski of SRS Fiberglass.
The project consists of the mixed story building of different construction styles.
The building sets on approximately 4.26 acres at 701 W Laketon Ave near the corner of Laketon
and Bus. US 31.
The building was built in multiple phases with the original building constructed in 1940 with
additions added sporadically until 1995 when the most recent addition was added.
The building had been utilized by Dilesco/Great Lakes Diecast from 1974 until its closure in 2018
when the building was purchased by Mumford Metal Castings.
The structure’s facade consists of multiple coverings from steel to brick and block construction,
with portions of the roof being flat and other portions being bowstring.
Recent improvements to the building have, for the most part, been limited to roof repairs and
demolition for remodeling of the office space.
The structure suffers from being built in multiple sections with different floor heights with step
ups and ramps to access different areas.
Extensive roof repairs are needed due to leaks and water damage in breakroom and warehouse
areas, as well as the removal of numerous exhaust stacks that go through the roof from previous
uses,
The building also lacks an elevator in the 2-story section of the building creating accessibility
issues,
The windows also appear to be original to the structure and would necessitate replacement.
The subject property, in its current physical state, is not consistent with the needs and market
expectations for potential users of this property type. Therefore, all of these conditions would
need to be addressed in order to make the building viable for any proposed new use.
Certification of Functional Obsolescence
It is this assessor’s expert opinion that this property is functionally obsolete and unable to
adequately perform the function for which it is intended due to a substantial loss in value
resulting from the following conditions: 1.) Deficiencies in the roof system including the removal
of exhaust vents and water leaks; and 2.) Different sections of the structure at different levels.
Additionally, due to its specific design, the building will require extensive modification and
renovation to accommodate the conversion to a new use and the renovation of the outdated
windows, siding and accessibility.
This opinion is made from consideration of the information contained in this report.
Disclaimer
This opinion is based upon the individual research and professional training and experience of the
signer. It does not necessarily reflect the official opinion of the local assessor's office as used in
the determination of value for the current and/or any future assessment roll.
CG) Vaal Ver,
Donna B. Vandervries, MMA (4)
Director, Muskegon County Equalization Department
Date
<l/ 4)i 25
Resolution No. 2025-66(B)
MUSKEGON CITY COMMISSION
RESOLUTION APPROVING APPLICATION FOR ISSUANCE OF INDUSTRIAL
FACILITIES EXEMPTION CERTIFICATE Molding Media of America
WHEREAS, pursuant to P.A. 198 of 1974 as amended, after duly noticed public
hearing held on July 22, 2025 this Commission by resolution established
a Plant Rehabilitation District as requested by SRS Fiberglass Products,
701 W. Laketon Ave., Muskegon, Michigan 49441; and
WHEREAS, Molding Media of America has filed an application for the issuance
of an Industrial Facilities Tax Exemption Certificate with respect to the
rehabilitation of a facility and new machinery and equipment to be installed
within said Plant Rehabilitation District; and
WHEREAS, before acting on said application the Muskegon City Commission held
a public hearing on August 12, 2025 at the Muskegon City Hall in
Muskegon, Michigan at 5:30 p.m. at which hearing the applicant, the
assessor and representatives of the affected taxing units were given
written notice and were afforded an opportunity to be heard on said
application; and
WHEREAS, the rehabilitation of the facility and installation of machinery and
equipment is calculated to and will have the reasonable likelihood to retain,
create, or prevent the loss of employment in Muskegon, Michigan; and
WHEREAS, the aggregate SEV of real property exempt from ad valorem taxes
within the City of Muskegon, will not exceed 5% of an amount equal to the
sum of the SEV of the local government unit, plus the SEV of personal and
real property thus exempted.
NOW, THEREFORE, BE IT RESOLVED by the Muskegon City
Commission of the City of Muskegon, Michigan that:
1) The Muskegon City Commission finds and determines that the
Certificate considered together with the aggregate amount of
certificates previously granted and currently in force under Act No. 198
of the Public Act of 1974 as amended shall not have the effect of
substantially impeding the operation of the City of Muskegon or
impairing the financial soundness of a taxing unit which levies ad
valorem property taxes in the City of Muskegon.
2) The application of Molding Media of America, for the issuance of an
Industrial Facilities Tax Exemption Certificate with respect to the
rehabilitation and installation of new machinery and equipment on the
following described parcel of real property situated within the City of
Muskegon to wit:
LAND SITUATED IN THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 31, TOWN 10
NORTH, RANGE 16 WEST, CITY OF MUSKEGON, COUNTY OF MUSKEGON, STATE OF MICHIGAN, LOTS 6 AND 7
AND LOTS 12 TO 18, INCLUSIVE, BLOCK 2; LOTS } TO 4, INCLUSIVE AND LOTS 20 TO 26 INCLUSIVE, BLOCK
3, LOTS 1 TO 7, INCLUSIVE AND LOTS 21 TO 26, INCLUSIVE, BLOCK 4; LOTS 1 TO 6 INCLUSIVE, BLOCK 5;
ALL IN MAP OF GLENCOE ADDITION TO THE CITY OF MUSKEGON, AS RECORDED IN LIBER 3 OF PLATS, PAGE
33, MUSKEGON COUNTY RECORDS, INCLUDING VACATED STREETS AND ALLEY ADJACENT THERETO.
EXCEPT: THAT PART THAT LIES EAST OF THE WEST RIGHT OF WAY LINE OF BUSINESS HIGHWAY US—J1.
ALSO EXCEPT, PART OF LOT 7, BLOCK 2, THE WEST HALF OF VACATED SEIDLER STREET, AND THE NORTH
HALF OF THE VACATED ALLEY ADJACENT TO LOTS 7 TO 5 AND 7 TO 11.
SAID PARCEL ALSO DESCRIBED AS FOLLOWS;
COMMENCE AT THE NORTHWEST CORNER OF SAIO SECTION 31;
THENCE SOUTH 88 DEGREES O05 MINUTES 42 SECONDS EAST ALONG THE NORTH LINE OF SAIO SECTION, A
DISTANCE OF 209.87 FEET;
THENCE SOUTH O01 DEGREE 54 MINUTES 18 SECONDS WEST TO THE POINT OF INTERSECTION OF THE
NORTHEASTERLY RIGHT~OF—WAY LINE OF THE C&O RAILROAD ANO THE SOUTHERLY RIGHT-OF-WAY LINE OF
LAKETON AVENUE, A OISTANCE OF 33.00 FEET;
THENCE SOUTH 88 DEGREES O5 MINUTES 42 SECONDS EAST ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE
OF LAKETON AVENUE, A DISTANCE OF 105.79 FEET TO THE POINT OF BEGINNING;
THENCE CONTINUE SOUTH 88 DEGREES 05 MINUTES 42 SECONDS EAST ALONG SAID LINE, A DISTANCE OF
76.20 FEET;
THENCE SOUTH 25 DEGREES 12 MINUTES 56 SECONDS WEST, A DISTANCE OF 41.23 FEET;
THENCE SOUTH 01 DEGREE 56 MINUTES O6 SECONDS WEST, A DISTANCE OF 96.24 FEET;
THENCE SOUTH 88 DEGREES O03 MINUTES 54 SECONDS EAST ALONG THE CENTERLINE OF SAID VACATED
ALLEY, A DISTANCE OF 143.00 FEET;
THENCE NORTH 01 OEGREE 56 MINUTES O06 SECONDS EAST, A DISTANCE OF 15.00 FEET;
THENCE SOUTH 88 DEGREES 03 MINUTES 54 SECONDS EAST, A DISTANCE OF 15.00 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 23 SECONDS EAST ALONG THE CENTERLINE OF SAID VACATED
BEIDLER STREET, A DISTANCE OF 49.00 FEET;
THENCE NORTH 88 OEGREES 03 MINUTES 10 SECONDS WEST, A DISTANCE OF 2.50 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 04 SECONDS EAST, A DISTANCE OF 16.00 FEET;
THENCE SOUTH 88 DEGREES O04 MINUTES 32 SECONDS EAST, A DISTANCE OF 2.50 FEET;
THENCE NORTH 15 OEGREES 58 MINUTES 06 SECONDS EAST, A DISTANCE OF 56.94 FEET;
THENCE SOUTH 88 DEGREES 05 MINUTES 42 SECONDS EAST ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE
OF LAKETON AVENUE, A DISTANCE OF 100.50 FEET;
THENCE SOUTH O02 DEGREES 35 MINUTES 53 SECONDS WEST, A DISTANCE OF 99.05 FEET;
THENCE SOUTH 88 DEGREES 31 MINUTES 45 SECONDS EAST, A DISTANCE OF 1.48 FEET;
THENCE SOUTH 02 DEGREES 47 MINUTES 14 SECONDS WEST, A DISTANCE OF 44.63 FEET;
THENCE SOUTH 88 DEGREES OO MINUTES 28 SECONDS EAST ALONG THE CENTERLINE OF A VACATED ALLEY
ADJACENT TO LOTS 20 TO 24 OF SAID BLOCK 3 , A DISTANCE OF 125.13 FEET TO A POINT ON THE
WESTERLY RIGHT-OF-WAY LINE OF BUISNESS US-31! (SEAWAY DRIVE);
THENCE SOUTH 02 DEGREES 12 MINUTES 50 SECONDS WEST ALONG SAID WESTERLY RIGHT-OF-WAY LINE, A
DISTANCE OF 323.07 FEET;
THENCE NORTH 88 DEGREES 02 MINUTES 53 SECONDS WEST ALONG SAID WESTERLY RIGHT-OF-WAY LINE, A
DISTANCE OF 25.01 FEET;
THENCE SOUTH 02 DEGREES 07 MINUTES 12 SECONDS WEST ALONG SAID WESTERLY RIGHT-OF-WAY LINE, A
OISTANCE OF 379.00 FEET TO A POINT ON SAID NORTHEASTERLY RIGHT-OF-WAY LINE OF THE C&O RAILROAD;
THENCE NORTH 30 DEGREES 49 MINUTES 56 SECONDS WEST ALONG SAID NORTHEASTERLY RIGHT-OF-WAY LINE
OF THE C&O RAILROAD, A DISTANCE OF 647.16 FEET;
THENCE NORTHWESTERLY ALONG SAID NORTHEASTERLY RIGHT-OF-WAY LINE, A DISTANCE OF 191.13 FEET
ALONG A CURVE TO THE RIGHT CURVE DATA BEING RADIUS = 2,334.36 FEET, DELTA = 04 DEGREES 41
MINUTES 28 SECONDS, LONG CHORD = 191.07 FEET, LONG CHORD BEARING = NORTH 26 DEGREES 50
MINUTES 57 SECONDS WEST;
THENCE SOUTH 88 DEGREES 03 MINUTES 54 SECONDS EAST ALONG THE CENTERLINE OF SAID VACATED ALLEY
ADJACENT TO LOTS 1 TO 5 OF BLOCK 2, A DISTANCE OF 79.25 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 06 SECONDS EAST, A DISTANCE OF 114.09 FEET;
THENCE NORTH 88 DEGREES 05 MINUTES 42 SECONDS WEST, A DISTANCE OF 34.89 FEET;
THENCE NORTH 01 DEGREE 56 MINUTES 06 SECONDS EAST, A DISTANCE OF 20.00 FEET TO THE POINT OF
BEGINNING. SAID PARCEL CONTAINS 4,26 ACRES, MORE OR LESS.
3) The Industrial Facilities Tax Exemption Certificate is issued and shall be
and remain in force and effect for a period of nine (9) years on real
property.
Adopted this 12 Day of AUGUST 2025
Ayes: Kilgo, Keener, Gorman, Kochin, St.Clair, and Johnson
Nays: None
Absent: German
BY: Nr Lvebnose\
Ken Johnson Mayor
ATTEST: Ww CaN Niwot dn
“Ann Meisch, City Clerk
CERTIFICATION
| hereby certify that the foregoing constitutes a true and complete copy of a
resolution adopted by the Muskegon City Commission, County of Muskegon,
Michigan, at a regular meeting held on August 12, 2025.
Ann Meisch, City Clerk
RENTAL LEASE AGREEMENT
4. PARTIES. This Rental Lease Agreement (the “Agreement”) made this
06/05/2025 is between:
Tenant(s): Molding Media of America LLC (the "Tenant”)
Landlord: SRS Holdings LLC (the “Landlord”)
Landlord Address: 19087 Gildner Creek Court, Spring Lake, MI 49456
2. PROPERTY. The Tenant will lease the following property from the Landlord:
Address: 701 W. Laketon Ave., Muskegon, MI 49441
Type: 1 Apartment (1 Single-family 1 Condominium 1 Townhome &! Other: Commercial
Bldg.
3. LEASE TERM. The Agreement will start and end on the dates entered below:
Start Date: 06/15/2025 End Date: 12/31/2025
4. RENT. The Tenant agrees to pay $6,000.00 (the “Rent’) to the Landlord on a monthly basis.
Rent will be due on the 1st of every month, to be paid in the following manner: check or
account transfer.
5. LATE FEE. The Tenant [1 Will & Will NOT be required to pay a late fee for late rate. If
required, the Tenant will need to pay a late fee of $0.00 if the rent has not been received
within 0 days of the due date.
6. SECURITY DEPOSIT. The Tenant 0 Will & Will NOT be required to pay a security deposit.
If required, the Tenant will be required to pay $0.00 to the Landlord by the Start Date
entered in Section 3.
7. ACKNOWLEDGMENT. By signing below, the Tenant hereby acknowledges that they have
read, understood, and agreed to all parts of this document.
lo rd Si gn atur e: Vin Za
La nd ge — Date: 06/05/2025
Printed Namté: steven E. Bradish for SRS Holdings LLC
om
=
ae eens ed
Tenant Signature; ; ne
7S c _ Date: 06/05/2025
oe
Printed Name: Steven E. Bradish for Molding Media of America LLC
CITY OF MUSKEGON
CONTRACT FOR TAX ABATEMENT
Act 198 Public Acts of 1974
AGREEMENT between CITY OF MUSKEGON, a municipal corporation
of 933 Terrace Street, Muskegon, Michigan 49440, (“City”) and Molding Media of
America ("Company’).
Recitals:
A. |The Company has applied to the City for the establishment ofa Plant
Rehabilitation District pursuant to the provisions of Act198 of the Public Acts of
1974, as amended, which act requires a contract between the City and the Company
to be agreed and submitted with the Company’s subsequent anticipated application
for an industrial facilities exemption certificate.
B. That in addition to the statutory requirement, the City has determined that it
is in the best interests of the taxpayers, property owners and residents of the City
that this Agreement be approved and executed prior to the establishment of the
requested district, and the City deems this Contract, together with the conditions set
forth in the said Act to constitute a necessary element in the City’s determination
whether or not to create the district.
C, The Company intends to install the project set forth in its application
(“project”) which it believes qualifies for the process of establishing the district and
the application for industrial facilities exemption certificate.
D. The City, provided this Agreement is executed, will determine whether to
create the district based upon the potential for the production of permanent jobs, the
continuation, stabilization or increase of economic activity, planning and zoning:
considerations and the City’s general plan and intentions regarding economic
development. In addition to the City policy considerations and predictions that the
Company’s proposed district and certificate benefit the community in those ways,
the City has further determined that the contractual commitments made by the
Company to thereby assist the community shall be binding on the Company and
necessary to continue the tax exemption made possible by the certificate.
E, This contract shall become effective upon the issuance of an Industrial
Facilities Tax Exemption Certificate.
NOW THEREFORE THE PARTIES AGREE:
1.9 The Company shall not cause or fail to cure the release of any hazardous
substance, or the violation of any environmental law on its premises in the City.
It shall report any releases to the appropriate governmental authority in a timely
and complete manner, and provide copies of said report documentation to the
City, It shall comply with all orders and actions of any governmental agency
having authority.
1.10 The Company shall maintain the equipment and improvements so as
to minimize physical or functional obsolescence,
1.11 The Company shall continue to operate its business location in the
City, containing the same number of and type of jobs, for the term of the
certificate.
2. AGREEMENT BY THE CITY. Provided this contract has been executed
and further provided all applications to create the district and achieve the industrial
facility exemption certificate have been properly filed, the City shall, in a timely
manner, determine in a public meeting to whether to create the district and whether
to receive, process, and approve thereafter the Company’s application for an
industrial facilities exemption certificate. The City may consider this contract in a
meeting separate from and prior to the meeting in which the City considers the
creation of the district and approval of the application for certificate. Further, the
City shall require the submission of this contract signed by the Company together
with its applications, before creating the district.
3. EVENTS OF DEFAULT. The following actions or failures to comply shall
be considered events of default by the Company:
3.1 Failure to meet any of the commitments set forth above.
3.2 The closing of the Company’s facilities in the City. Closing shall mean for
purpose of this Agreement, the removal, without transfer to another site within
the City of substantially all of the production facilities, and the elimination of
substantially all the jobs created or retained thereby, which are set forth in the
Company’s application.
3.3 Failure to afford to the City the documentation and reporting required.
3.4 The failure to create or retain jobs, meet affirmative action goals or expend
the funds on equipment and improvements as represented in the application
within the times required hereby, unless the company can show that there has
been a loss of revenue and employment due to circumstances beyond the control
of the company. In order to make that showing the company shall have the
burden of supplying, to the City's satisfaction, complete and convincing
documentation supporting and justifying reductions in investment, failures to
attain affirmative action goals or job losses, such as, without limitation, written
evidence of lost contracts, accounting information showing reduced revenues due
to the loss of business, (not due to diversion of production to affiliate companies
or divisions of the company), production records showing reduced quantities
over significant periods of time, and such other information required by the City
to support the Company's claim that the failure to invest, failure to achieve
affirmative action goals, or loss of jobs should not form the basis for a finding of .
default.
3.5 The bankruptcy or insolvency of the Company.
3.6 The failure to pay any and all taxes and assessments levied on the Company’s
property or any other taxes, local, state or federal, including but not limited to
City income taxes and the withholding of said City income taxes from employees
as required by the City Income Tax Ordinance.
3.7 The performance or omission of any act which would lead to revocation
under MCLA 207,565, being §15 of the Act.
3.8 The violation of any provisions, promises, commitments, considerations ot
covenants of this Agreement.
4. REMEDIES ON DEFAULT. In the event of any of the above defaults the
City shall have the following remedies which it may invoke without notice, except as
may be reasonably required by the Company’s rights to due process:
4,1 In the event of closing as determined after investigation of the facts and a
public hearing, the Company shall be immediately liable for penalties to be paid
forthwith to the city as determined as follows:
4.1.1 The Company shall pay to the City for prorata distribution to the
taxing units experiencing the abatement, an amount equal to the difference’
between the industrial facilities tax which it has paid, and the total property
taxes to the relevant taxing units which it would have paid, given its
installations of improvements and equipment, during the years for which the
certificate was in effect.
4.1.2 Immediate Revocation, The Company hereby consents to revocation
to the IFT certificate before the State Tax Commission, without hearing, and
the City shall submit a copy of this Agreement to the State Tax Commission
in connection with its revocation procedure, giving notice that the default has
occurred and immediate revocation should occur.
4.2 In the event the improvements and equipment have not been installed before
the two (2) year period, in addition to the revocation procedures before the State
Tax Commission, the abatement should immediately be reduced by the City
proportionately, and any installations which have not been finished at the end of
said two (2) year period shall not be eligible for the abatement thereafter and
shall be placed on the regular tax roll.
4,3 Failure to Expend the Funds Represented, In the event, (whether or not the
installations have been completed), the Company has not expended the funds it
has represented on its application that it would invest for the installation of
equipment, the abatement shall be reduced prorata, and any remaining value of
equipment shall be placed on the regular tax roll, unless the company can show,
through receipts, etc. that the cost of the equipment was actually less than the
amount estimated by the company (i.e., the same equipment was purchased as
listed in the IFT application, but the bids came in less than expected),
4.4 Job Creation and Retention. In the event the promised number of jobs have
not been created or retained at the end of the two (2) years after the grant of the
certificate by the State Tax Commission, the abatement shall be proportionately
reduced, unless the company can show that the loss of jobs, or inability to hire as
many people as expected, is due to circumstances beyond the control of the
company (such as an economic downturn).
4,5 Affirmative Action Goals. In the event, after one (1) year from the grant of
the certificate by the State Tax Commission, the affirmative action goals of the
City for additional jobs have not been met on a prorata basis, the abatement shall
be revoked.
4.6 For other violations of this Agreement or for actions or omissions by the
Company amounting to grounds for revocation by statue, the City shall
recommend to the State Tax Commission immediate revocation of the certificate.
4.7 Special Assessment. For any amount due to be paid to the City, under this
Section 4, the Company consents that the City shall have a personal action
against the Company for the said amount, and in addition, cumulatively, and not
by election, the City shall have a special assessment lien on all the property of
the Company personal and real, located in the City, for the collection of the
amounts due as and in the manner of property taxes and in such case the
collection of the said special assessment shall be accomplished by addition by
the City to the Company’s property tax statement regularly rendered.
5. Governing Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of Michigan applicable to contracts made and
to be performed within the State of Michigan.
6. Counterparts, This Agreement may be executed in one or more counterparts.
Notwithstanding such execution all such counterparts shall constitute one and the
same Agreement.
7. Benefit. This Agreement shall be binding upon and inure to the benefit of
the respective parties, their successors and personal representatives.
8. Effective Date. This Agreement shall be effective on the date the State of
Michigan Tax Commission grants the company at Industrial Facilities Exemption
Certificate.
CITY OF MUSKEGON
ByKénDWor~ Qpobwesesr—_
Johnsor, Mayor
ocho, Ann Meisch, Clerk
Y/ Steve Bradish
its VP of Dperatipns
Resolution No. 2025-60(A)
MUSKEGON CITY COMMISSION
RESOLUTION APPROVING A PLANT REHABILIATION DISTRICT AT 701 W. LAKETON AVE, MUSKEGON,
MI 49441
WHEREAS, pursuant to PA 198 of 1974, as amended, the City Commission of the City of Muskegon has the
authority to establish a Plant Rehabilitation District within the City of Muskegon; and
WHEREAS, SRS Fiberglass Products has petitioned the City Commission of the City of Muskegon to establish a
Plant Rehabilitation District on its property located in the City of Muskegon hereinafter described; and
WHEREAS, construction, acquisition, alteration, or installation of a proposed facility has not commenced at the
time of filing the request to establish this district; and
WHEREAS, written notice has been given by mail to all owners of real property located within the district, and to
the public by newspaper advertisement in the Muskegon Chronicle and public posting of the hearing on the
establishment of the proposed district; and
WHEREAS, on July 22, 2025 a public hearing was held at which all owners of real property within the proposed
Plant Rehabilitation District and all residents and taxpayers of the City of Muskegon were afforded an opportunity
to be heard thereon; and
WHEREAS, the City Commission of the City of Muskegon deems it to be in the public interest of the City of
Muskegon to establish the Plant Rehabilitation District as proposed.
NOW, THEREFORE, BE !T RESOLVED by the City Commission of the City of Muskegon that the following
described parcel of land situated in the City of Muskegon, Muskegon County, and State of Michigan, to wit:
LAND SITUATED IN THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 31, TOWN 10
NORTH, RANGE 16 WEST, CITY OF MUSKEGON, COUNTY OF MUSKEGON, STATE OF MICHIGAN, LOTS 6 AND 7
AND LOTS 12 TO 18, INCLUSIVE, BLOCK 2; LOTS 1 TO 4, INCLUSIVE AND LOTS 20 TO 26 INCLUSIVE, BLOCK
3, LOTS 1 TO 7, INCLUSIVE AND LOTS 21 TO 26, INCLUSIVE, BLOCK 4; LOTS | TO 6 INCLUSIVE, BLOCK 5;
ALL IN MAP OF GLENCOE ADDITION TO THE CITY OF MUSKEGON, AS RECORDED IN LIBER 3 OF PLATS, PAGE
33, MUSKEGON COUNTY RECORDS, INCLUDING VACATED STREETS AND ALLEY ADJACENT THERETO,
EXCEPT: THAT PART THAT LIES EAST OF THE WEST RIGHT OF WAY LINE OF BUSINESS HIGHWAY US—31.
ALSO EXCEPT, PART OF LOT 7, BLOCK 2, THE WEST HALF OF VACATED BEIDLER STREET, AND THE NORTH
HALF OF THE VACATED ALLEY ADJACENT TO LOTS 1 TO 5 AND 7 TO 17f.
SAID PARCEL ALSO DESCRIBED AS FOLLOWS;
COMMENCE AT THE NORTHWEST CORNER OF SAID SECTION 31;
THENCE SOUTH 88 DEGREES O5 MINUTES 42 SECONDS EAST ALONG THE NORTH LINE OF SAID SECTION, A
DISTANCE OF 209.87 FEET;
THENCE SOUTH 01 DEGREE 54 MINUTES 18 SECONDS WEST TO THE POINT OF INTERSECTION OF THE
NORTHEASTERLY RIGHT-OF~WAY LINE OF THE C&O RAILROAD AND THE SOUTHERLY RIGHT-OF-WAY LINE OF
LAKETON AVENUE, A DISTANCE OF 33.00 FEET;
THENCE SOUTH 88 DEGREES O05 MINUTES 42 SECONDS EAST ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE
OF LAKETON AVENUE, A DISTANCE OF 105.79 FEET TO THE POINT OF BEGINNING;
THENCE CONTINUE SOUTH 88 DEGREES 05 MINUTES 42 SECONOS EAST ALONG SAID LINE, A DISTANCE OF
76.20 FEET;
THENCE SOUTH 25 DEGREES 12 MINUTES 56 SECONDS WEST, A DISTANCE OF 41.23 FEET;
THENCE SOUTH O01 DEGREE 56 MINUTES 06 SECONDS WEST, A DISTANCE OF 96.24 FEET;
THENCE SOUTH 88 DEGREES 03 MINUTES 54 SECONDS EAST ALONG THE CENTERLINE OF SAID VACATED
ALLEY, A DISTANCE OF 143,00 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 06 SECONDS EAST, A DISTANCE OF 15.00 FEET;
THENCE SOUTH 88 DEGREES 03 MINUTES 54 SECONDS EAST, A DISTANCE OF 15.00 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 23 SECONDS EAST ALONG THE CENTERLINE OF SAID VACATED
BEIDLER STREET, A DISTANCE OF 49.00 FEET;
THENCE NORTH 88 DEGREES 03 MINUTES 10 SECONDS WEST, A DISTANCE OF 2.50 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 04 SECONDS EAST, A DISTANCE OF 16.00 FEET;
THENCE SOUTH 88 DEGREES 04 MINUTES 32 SECONDS EAST, A DISTANCE OF 2.50 FEET;
THENCE NORTH 15 DEGREES 58 MINUTES 06 SECONDS EAST, A DISTANCE OF 56.94 FEET;
THENCE SOUTH 88 DEGREES 05 MINUTES 42 SECONDS EAST ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE
OF LAKETON AVENUE, A DISTANCE OF 100.50 FEET;
THENCE SOUTH O02 DEGREES 35 MINUTES 53 SECONDS WEST, A DISTANCE OF 99.05 FEET;
THENCE SOUTH 88 DEGREES 31 MINUTES 45 SECONDS EAST, A DISTANCE OF 1.48 FEET;
THENCE SOUTH O02 DEGREES 47 MINUTES 14 SECONDS WEST, A DISTANCE OF 44.63 FEET;
THENCE SOUTH 88 DEGREES OO MINUTES 28 SECONDS EAST ALONG THE CENTERLINE OF A VACATED ALLEY
AOJACENT TO LOTS 20 TO 24 OF SAID BLOCK 3 , A DISTANCE OF 125.13 FEET TO A POINT ON THE
WESTERLY RIGHT-OF-WAY LINE OF BUISNESS US~—31 (SEAWAY DRIVE);
THENCE SOUTH 02 DEGREES 12 MINUTES 50 SECONDS WEST ALONG SAID WESTERLY RIGHT-OF-WAY LINE, A
OISTANCE OF 323.07 FEET;
THENCE NORTH 88 DEGREES 02 MINUTES 53 SECONDS WEST ALONG SAID WESTERLY RIGHT~OF-—WAY LINE, A
DISTANCE OF 25.01 FEET;
THENCE SOUTH 02 DEGREES 07 MINUTES 12 SECONDS WEST ALONG SAID WESTERLY RIGHT-OF-WAY LINE, A
DISTANCE OF 379.00 FEET TO A POINT ON SAID NORTHEASTERLY RIGHT-OF-WAY LINE OF THE C&O RAILROAD;
THENCE NORTH 30 DEGREES 49 MINUTES 56 SECONDS WEST ALONG SAID NORTHEASTERLY RIGHT-OF-WAY LINE
OF THE C&O RAILROAD, A DISTANCE OF 647.16 FEET;
THENCE NORTHWESTERLY ALONG SAID NORTHEASTERLY RIGHT-OF-WAY LINE, A DISTANCE OF 191.13 FEET
ALONG A CURVE TO THE RIGHT CURVE DATA BEING RADIUS = 2,334.36 FEET, DELTA = 04 DEGREES 41
MINUTES 28 SECONDS, LONG CHORO = 191.07 FEET, LONG CHORD BEARING = NORTH 26 DEGREES 50
MINUTES 57 SECONDS WEST;
THENCE SOUTH 88 DEGREES 03 MINUTES 54 SECONDS EAST ALONG THE CENTERLINE OF SAID VACATED ALLEY
ADJACENT TO LOTS 1 TO 5 OF BLOCK 2, A DISTANCE OF 79.25 FEET;
THENCE NORTH O17 DEGREE 56 MINUTES 06 SECONOS EAST, A DISTANCE OF 114.09 FEET;
THENCE NORTH 88 DEGREES 05 MINUTES 42 SECONDS WEST, A DISTANCE OF 34.89 FEET;
THENCE NORTH O01 DEGREE 56 MINUTES 06 SECONOS EAST, A DISTANCE OF 20,00 FEET TO THE POINT OF
BEGINNING, SAID PARCEL CONTAINS 4.26 ACRES, MORE OR LESS.
is established as a Plant Rehabilitation District pursuant to the provisions of PA 198 of 1974, as amended, to be
known as 701 W. Laketon Plant Rehabilitation District.
Adopted this 22nd Day of July 2025.
Ayes: Kilgo, German, Gorman, Kochin, St.Clair, and Johnson
Nays: None
Absent: Keener
BY: Now \ehere
Ken Johnson’
SN
ATTEST: \ wen Ant Meisch
A
Clerk
CERTIFICATION
| hereby certify that the foregoing constitutes a true and complete copy of a resolution adopted by the Muskegon
City Commission, County of Muskegon, Michigan, ata aw held on July 22, 2025.
UNI Wra, DN
Ann Meisch
Clerk
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