HomeMy WebLinkAbout2010-07-26-Meeting Agendawww.augustaga.gov
Finance Committee Meeting Commission Chamber- 7/26/2010- 12:45 PM
FINANCE
1. Consider a request from ACCG to renew an Ad for the 2010 County Family
Album of Georgia County Government Magazine.
Attachments
2. Motion to approve an agreement between the Georgia Department of
Economic Development on behalf of the Georgia Golf Hall of
Fame Authority and Georgia Golf Hall of Fame Commission and Augusta,
Georgia regarding the sale of the bronze sculptures to Augusta, Georgia.
Attachments
3. Consider a request from Mr. James H. Jay of 2383 Travis Pines Drive
regarding a refund of a portion of taxes that he was charged for in error
after his homestead exemption was dropped.
Attachments
4. Consider a request from Travers W. Paine, III, P.C., Receiver for The
White's Building Receivership, to waive penalty, interest and other fees on
8 properties.
Attachments
Finance Committee Meeting
7/26/2010 12:45 PM
2010 -ACCG County Family Album
Department:
Caption:Consider a request from ACCG to renew an Ad for the 2010 County Family
Album of Georgia County Government Magazine.
Background:Since 1999 Augusta has supported and participate via the purchase of an ad
in ACCG publication Georgia County Government Magazine "Family
Album".
Analysis:
Financial Impact:Half page Black/White Ad $539.50
Alternatives:
Recommendation:
Funds are Available in
the Following
Accounts:
Commission "Other Acct. 101-01-331-5233119 Publication Quarterly
account.
REVIEWED AND APPROVED BY:
Clerk of Commission
Cover Memo
Attachment number 1Page 1 of 1
Finance Committee Meeting
7/26/2010 12:45 PM
Agreement with Georgia Golf Hall of Fame Authority
Department:Clerk of Commission
Caption:Motion to approve an agreement between the Georgia Department of
Economic Development on behalf of the Georgia Golf Hall of
Fame Authority and Georgia Golf Hall of Fame Commission and Augusta,
Georgia regarding the sale of the bronze sculptures to Augusta, Georgia.
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available in
the Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Cover Memo
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Finance Committee Meeting
7/26/2010 12:45 PM
James H. Jay
Department:Clerk of Commission
Caption:Consider a request from Mr. James H. Jay of 2383 Travis Pines Drive
regarding a refund of a portion of taxes that he was charged for in error after
his homestead exemption was dropped.
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available in
the Following
Accounts:
REVIEWED AND APPROVED BY:
Clerk of Commission
Cover Memo
Attachment number 1Page 1 of 2
Attachment number 1Page 2 of 2
Finance Committee Meeting
7/26/2010 12:45 PM
Request by Receiver of White's Building for abatement of penalty & interest
Department:Tax Commissioner's Office
Caption:Consider a request from Travers W. Paine, III, P.C., Receiver for The
White's Building Receivership, to waive penalty, interest and other fees on 8
properties.
Background:Please see Mr. Paine's letter, attached.
Analysis:
Financial Impact:Penalties: $8,488.49 Interest: 6,790.64
Alternatives:Waive all fees as requested. Waive a portion of all fees. Waive one or the
other. Waive none of the fees requested.
Recommendation:We have researched thi issue and wanted to provide our findings and
recommendation. Federal statute 12 U.S.C. 1825 (b)(3)essentially states that
the FDIC when acting as a receiver, "shall not be liable for any amounts in
the nature of penalties or fines". Tax penalties may be collected on property
from a successor owner(s) or security deed holder(s) after the property has
been removed from FDIC receivership. The developers' of these properties
defaulted on the construction/mortgage loan obligation to a failed financial
institution (Haven Trust Bank). the failure of this bank resulted in the FDIC
becoming the receiver of the Bank's assets. The FDIC never filed a
foreclosure deed which would have given them ownership of the properties
and exemption from taxes. We think we are on solid ground in the demand
for the delinquent taxes and the fifa (lien) charges. Due to the somewhat
confusing status of the property, we think it is in the best interest of
Augusta-Richmond County to relieve all penalties and interest on these eight
(8) properties and collect the base tax amount and the fifa charge.
Funds are Available in
the Following
Accounts:
N/A
REVIEWED AND APPROVED BY:
Finance.
Law.
Cover Memo
Administrator.
Clerk of Commission
Cover Memo
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