Number
020768
Version
SUBSTITUTE 1
Reference
Sponsor
CHAIR
Title
Substitute resolution approving and authorizing stipulation with United Apostolic Church of God, Inc. ("United") concerning in personam liability for 1992-2000 taxes against 2516-2522 West Hopkins (10th Aldermanic District).
Analysis
Resolution approves and authorizes compromise of in personam judgment granted to City in the amount of $43,945.79 for back taxes (1992-2000) against 2516-2522 West Hopkins Street in exchange for $26,586.72, and further approves and authorizes a deduction netted out from that $26,586.72 to pay Kohn Law Firm's fees incurred with respect to the collection.
Body
Whereas, The property (tax key number 285-1239-100-3) is on the City's do-not-acquire list as it is suspected of being a brownfield and environmentally contaminated; and
Whereas, According to the City's outside collection attorney, the Kohn Law Firm ("Kohn"), (1) United was sued for the 1992-2000 back taxes and the Court agreed that judgment for the City could be entered via a July, 2002 "Stipulation and Order for Judgment" for $43,945.79; and (2) if the City does not approve the compromise and accept the offered $26,586.72 lump sum payment from United to settle the judgment, United's financial condition and circumstances raise concern and doubt about the City being able to collect against it; and
Whereas, If the City does approve the compromise, the City should be able to collect the $26,586.72 payment offered (being principal only of the 1992-2000 delinquencies) less Kohn's fees; now, therefore, be it
Resolved, That the City hereby approves and authorizes: the compromise of the City's $43,945.79 judgment for $26,586.72; and, to pay Kohn, the netting out of Kohn's fees of $3,165.69 against the $26,586.72 Kohn will collect and remit to the City; and, be it
Further Resolved, That the City approves and authorizes: Kohn issuing a satisfaction of the judgment against United upon rece...
Click here for full text