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HomeMy WebLinkAbout1995-04-24 95-179 ORDERCOUNCIL ACTION Item No. 95-179 Date Anril 24 1995 Item/Subject: Ratifying Settlement of Property Tax Appeals Case -- Maple Hill Townhouses, Inc. Responsible Department: Legal This Order would ratify the settlement of a 1993 tax appeals case involving the former "Village Green' apartment complex on Ohio and Bolling Streets, owned at the time by Maple Hill Townhouses, Inc. This item has previously been reviewed by the City Council in executive session. Department Head Manager's Comments: yAy City Manager Associated Information: Order) 5e#1e&anf b"mg4 , 5ttPutafidn Budget Approval!, /S. Finance Director Legal Approval: City Ac," to Passage COA04t Ayfnda First Reading Referral Page 1 of 5 95-09 Auigned to CouneJor Cohen April 24, 1995 a CITY OF BANGOR (TITLE.) Mr .Ratifying Settlement of Property Tax Appeals Case -- Maple Hill Townhouses, Inc. By dw GUY Cmeal of Am G`N ofAvgee: ORDERED, THAT the actions of the city solicitor in executing a "Settlement Agreement" and "Stipulation of Dismissal^, copies of which are attached hereto, in the 1993 property tax appeal of Maple Hill TowMouses, Inc., involving the former "Village Green" apartment complex, are hereby ratified and confirmed. Payment shall issue to Maple Hill. Townhouses, Inc. as directed in the 'Settlement Agreement." IN CITY COUNCIL 95-179 April 26, 1995 0 R D I R Pa � Title, Ratifying Settlement of Property Tax CITY 9RR Appeals Cane - Maple 8111 Townhouses. Inc. �Assigned to .............................unCouncilmanlman Councilman 95-179 This Agreement made and executed in duplicate this day of April, 1995, by and between MAPLE HILL TOWNHOUSES, INC., a Maine corporation with its principal place of business in Bangor, Maine (hereinafter "Maple Hill') and the CITY OF BANGOR, a municipal corporation organized and existing under the laws of the State of Maine (hereinafter "Bangor"): W I T N g S u E T S: wHEREAS, Maple Hill and Bangor are parties to a tax appeal case currently pending before the Maine State Board of Property Tax Review as docket no. 93-63; and WHEREAS, the issue pending in docket no. 93-63 is the proper valuation for assessment purposes for municipal tax year 1993 of a so unit apartment complex formerly known as "Village Green Apartments" and shown in the maps of the Bangor City Assessor a Tax Map 66, Lots 24, 25, 26, 27, 30, 31, 32, 33, 34, 35, 36, 398 38, 39, 40, 41, 42, 43, 44, 48, 49, 51, 52, 53 and 57; and WHEREAS, the parties wish to end their dispute upon mutually agreeable terms without additional expense or delay; NOW, THEREFORE, Maple Hill and Bangor hereby mutually agree as follows: (1) By Stipulation of Dismissal dated April 17, 1995, a copy of which is attached hereto, the parties have stipulated that docket no. 93-63 shall be dismissed by the State Board of Pwady Tax e3 tjc Review. The parties' Stipulation shall be filed with the State Board of Property Tax Review upon execution of this Agreement. (2) The assessed value for City of Bangor property tax purposes of the former Village Green apartment complex for tax year 1993 is agreed to be $2,750,000.00. (3) Upon dxecution of this Agreement, the City of Bangor shall process a refund of FY 1993 property tax overpayments on the former Village Green in the amount of $8,609.22, plus statutory interest at ei simple interest per year from the original tax payment date. Said refund amount shall be paid to Maple Hill within thirty days of execution of this Agreement. (4) The $2,750,000.00 assessed valuation figure for the former village Green apartment complex shall be deemed binding for FY 1993 only, and shall not affect any prior or Subsequent assessment of this property by the City of Bangor. (5) This Agreement shall be binding upon both parties hereto following execution by representatives of both parties and upon ratification by the Bangor City Council. 95-U9 (6) This Agreement and the Stipulation of Dismissal attached hereto constitute the complete understanding of the parties respecting settlement Of the parties' dispute in docket no. 93-63. WITNESS the following hands and seals this day of April, 1995. MAPLE HILL TOWNHOUSES, INC. (3y) Name: Title: CITY OF BANGOR Witness / Name: Erik M.S mpfi fel Title: City Solicitor Seen and Agreed to: Birch, Sr City. City Assessor City of Bangor 95-119 STATE OF MAINE STATE BOARD OF PROPERTY TAX REVIEW Docket No. 93-63 CITY OF BANGOR Petitioner V. MAPLE HILL TOWNHOUSES, INC Respondent STIPULATION TO DISMISSAL The parties, through undersigned counsel, hereby stipulate to the dismissal 0£ this appeal. The parties have reached settlement and further action on this matter is unnecessary.. Respectfully submitted. Dated at Bangor, Maine this ("/m'/^"pday of April, 1995. Edmond O. seer, Esq. - Er ck M. StumpEel Rudman 6 i B'chell City Solicitor Attorneys for Maple Hill City of Bangor Townhouses 73 Harlow Street P.O. Box 1401 Bangor, ME 04401 Bangor, ME 04402-1401