Item Text

20. OFFER OF SETTLEMENT AND ABATEMENT SUBJECT TO RECEIPT OF PAYMENT Approve an offer of $50,000 from receiver of Pizza Revolucion, LLC (“Debtor”) in full satisfaction of taxes, interest and penalties due for personal property (equipment) tax due on the parcels noted below and for the specified tax years. Debtor owns 11 stores which were placed in receivership by a judge. The Receiver sold the restaurants, including the equipment, in March, 2015 without notice to the Treasurer. When the County learned of the sale and approached the Receiver about the personal property taxes, the Receiver agreed to hold funds to pay the taxes, but requested that a portion of the taxes be abated. The purchase price was not allocated between the real property, the franchise agreements and the personal property and the Receiver contends the buyer would not have paid more than $50,000 for the equipment if sold separately, based on the age and condition of the property sold. On August 11, 2016, after negotiations, the Receiver offered to pay $50,000 of the amount due. Treasurer recommends the County accept the settlement subject to receipt of payment from the receiver. Authorize the Chair to execute settlement documents and release of unpaid taxes conditioned on receipt of payment. Authorize the Treasurer to abate remaining unpaid taxes for parcels numbers, tax years and amounts shown below upon finalization of the settlement: 992-32-042, 2013, $3,137.46 992-32-061, 2013-2016, $16,385.79 992-32-070, 2013-2016, $16,385.79 992-32-089, 2013-2016, $19,744.37 (C-43-17-010-M-00)

Attachments (4)