City of Racine - File #: 664-17

• File #: 664-17
• Version: A
• Name: (Direct Referral) Communication from the Finance Director requesting City Council acknowledgment and endorsement of judgment mandated by Wisconsin Supreme Court case number 2014AP2947, Regency West Apartments, LLC v. City of Racine, for refund of 2012-201
• Type: Communication
• Status: Passed
• File created: 7/7/2017
• In control: Finance and Personnel Committee
• Final action: 7/18/2017
• Title: Subject: (Direct Referral) Communication from the Finance Director requesting City Council acknowledgment and endorsement of authorization to execute a settlement agreement and payment in Racine County Case numbers 2015CV0745 and 2016CV1122 for partial refunds of 2014 and 2015 real estate property taxes, costs and interest totaling $84,663; authorization to execute a settlement agreement and payment for 2016 real estate property taxes, costs and interest totaling $50,124. (Res. No. 0241-17) Recommendation of the Finance & Personnel Committee on 7/10/2017: Settlement of Racine County Case numbers 2015CV0745 and 2016CV1122; and settlement of claim of excessive assessment for 2016 real estate property taxes in the cumulative principal amount of $134,545.66 plus cumulative interest through June 30, 2017 of $222.96 plus cumulative per diem interest of $1.00 starting July 1 through payment date for an estimated total of approximately $134,788. Fiscal Note: There are sufficient funds availa...
• Related files: Res.0241-17

Date	Ver.	Action By	Action	Result
7/18/2017	A	Common Council	Approved as Presented	Pass
7/10/2017	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Communication from the Finance Director requesting City Council acknowledgment and endorsement of authorization to execute a settlement agreement and payment in Racine County Case numbers 2015CV0745 and 2016CV1122 for partial refunds of 2014 and 2015 real estate property taxes, costs and interest totaling $84,663; authorization to execute a settlement agreement and payment for 2016 real estate property taxes, costs and interest totaling $50,124. (Res. No. 0241-17)

Recommendation of the Finance & Personnel Committee on 7/10/2017: Settlement of Racine County Case numbers 2015CV0745 and 2016CV1122; and settlement of claim of excessive assessment for 2016 real estate property taxes in the cumulative principal amount of $134,545.66 plus cumulative interest through June 30, 2017 of $222.96 plus cumulative per diem interest of $1.00 starting July 1 through payment date for an estimated total of approximately $134,788.

Fiscal Note: There are sufficient funds available for payment of this settlement in account 11202-53420, Misc-Property Taxes Cancelled. Approximately half of the refund will be charged back to the other taxing jurisdictions. Principal + interest by year is as follows: 2014 $41,979.77 + $51.29; 2015 $42,589.32 + $42.88; 2016 $49,976.57 + $147.79.