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Home My WebLink About911000.tiff RESOLUTION RE: DENY REQUEST OF RESOLUTION TAX CORPORATION FOR EXTENSION OF TIME TO TAKE TAX DEED - SKIES UNLIMITED WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board was presented with a request from Resolution Trust Corporation for an Extension of Time to take a certain Tax Deed concerning Skies Unlimited, and WHEREAS, pursuant to the Weld County Home Rule Charter, Article 3, Section 3-13, the concurrence of three of the members of the Board is required to approve a Resolution, and WHEREAS, the motion to approve the extension requested by Skies Unlimited received only two votes and therefore failed; the effect of the failure to obtain a majority vote is a denial of the motion. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the request from Resolution Trust Corporation for an Extension of Time to take a certain Tax Deed be, and hereby is, deemed denied. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 14th day of August, A.D. , 1991. ��./V � n BOARD OF COUNTY COMMISSIONERS ATTEST: 1 WELD COUNTY, COLORADO Weld County Clerk to the Board 6 (NAY) / /1 Gor acy, it an By: i"� � �fZ. l/// „e„,„00 (NAY) Deputy Clerk to the Board ( George Kenn dy, Pro- APPROVED AS TO FORM: _ EXCUSED DATE OF SIGNING (AYE) Constance L. Harbert EXCUSED County Attorney, C. W. Kirby &U R( /. ' 1�"v�'1 Q/f/ (AYE) W. H. Webster 911000 cc Rec>i nista it rya ikGovi SENT BY:MATHIS LAW FIRM P. C. : 8— 9-91 :10:09AM : d.3033520242 :it 2 THE MATHIS LAW FIRM, P.C. ATTORNEYS AT LAW 1000 BROADWAY. SUITE 2906 DENVER, COLORADO 60202 TELEPHONE(606) 299.6600 KAREN J. MATH14 TELEFAX (902) 299•0269 JOHN F. REHA OF COUNSEL. CHRISTINA A. PIFLIS LAURA A. CITGES HARVEY W. CURTIE CAROLYN DAHLGREN LEVIN STAR L. WARINO RUTH A. TEIERABEND H. ROBERT WALSH. JR. August 9, 1991 VIA FACSIMILE AND REGULAR MAIL Lee Morrison, Esq. Weld County Attorney's Office 915 10th Street Greeley, Colorado 80632 Re: Erie Airpark Tax Deed - RTC's Request for Extension Dear Lee: Enclosed is the memorandum to the Commissioners which we discussed yesterday. Please send copies to the Commissioners in their packet today. I appreciate your assistance in this matter. I look forward to meeting you on Monday. Sincerely, tifliblet ura A. Ditges LAD/us Our File No. 4601.001 cc Steve Girrard, RTC Dallas Hainline, RTC Enclosure Gt7Lt �/5/ — i/ 910979S9S _ ___...._ AUG 9 ' 91 10: 04 3032960256 PAGE . 002 —diet C '� SENT BY:MATHIS LAW FIRM P. C. ; 8- 9-91 ;10:09AM ; d43033520242 ;73 3 • • For the Meeting of August 12, 1991 MEMORANDUM TO: Weld County Commissioners • FROM: Resolution Trust Corporation, .Receiver for Barber County Savings and Loan Association, by its Counsel, Laura A. Ditges • DATE: August 9, 1991 SUBJECT: Request for Extension: Issuance of . Tax Deed for Erie Airpark Subdivision, A portion of Tract H BACKGROUND As the Commissioners are aware, the Resolution Trust Corporation, 4s Receiver for the Barber County Savings and Loan Association ("RTC") has requested that the issuance of the deed to the County for the Erie Airpark Property, scheduled for August 16, 1991, be extended for sixty days until October 16, 1991. Attached is a copy of the July 25, 1991 letter requesting the extension for your reference. As also is stated in the original request, RTC holds a First Deed of Trust on the property securing a loan, for which the balance is $280,000.00. RTC staff, including two asset managers and in-house legal counsel, have been engaged in investigating the property for several months in an effort to learn about the property and to make a sound recommendation to the RTC Board as to whether to redeem the property by paying the taxes. In addition to RTC staff investigations, RTC has engaged experts to evaluate the property, which have resulted in the following out-of-pocket expenses to date: Appraisal (which is not yet complete) $9,200.00 Environmental Screening (which is not yet complete) 3,840.00 Outside Legal Counsel (ongoing) 1.350.00 Total: $14,390.00 The time, effort, and money that RTC has expended in investigating this property demonstrates that RTC is very serious about completing comprehensive due diligence on the property. The request for an extension is not intended as a delaying tactic. The unusual nature of the property (a private airport) and the long AUG 9 ' 91 10: 05 3032960256 PAGE . 003 SENT BY:MATHIS LAW FIRM P. C. ; B- 9-91 ;10:10AM ; 4143033520242 ;# 4 • Mono to Weld County Commissioners August 9, 1991 Page 2 history of 'the property has resulted in a much more detailed investigation than was originally anticipated. RTC's request for the delay is simply to insure that the appraisal and environmental reports can be completed and that the RTC Board can make a sound decision based upon facts. As the Commissioner's are obviously aware, being public officers, it would not be appropriate for RTC to spend public monies to redeem the property prior to the completion of the investigation. RTC appreciates your consideration of its request. I will be available at the meeting to answer any questions that may arise. ar .Qi101 � • • • ._ ..9(9 RUG 9 ' 91. 10: 0g- 3032960256 PRGE . 004 SENT BY:MATHIS LAW FIRM P. C. ; 8— 9-91 :10:11AM ; d43033520242 :X. 5 THE MATHIS LAW FIRM. P.C. . ATTORNEYS AT LAW 2666 BROADWAY, SUITE nos DENVER. COLOKA00 6O2O2 TELEOHONE'0KM) !66.9900 KAREN J. MATHIS TGLFFAX 0002)260.0256 JOHN F REHA OF COUNSEL: CHRISTINA A. FIFLIS LduRA A. DITGES HARVEY W. CURTIS CAROLYN DAHLGREN LEVIN STAR L. WARING RUTH A. FEIERAGEND H. R06ERT WALGH, JR, July 25, 1991 Connie Harbert George Kennedy C.W. Kirby Gordon 7,acy . . . Weld County Commissioners 915 10th. Street Greeley, Colorado 80632 RE: Tax Deed Erie Airpark Subdivision, A Portion of Tract H Dear Commissioners: On behalf of the Resolution Trust Corporation, Receiver for the Barber County Savings and Loan Association in Medicine Lodge, Kansas,. I respectfully request that the Weld County Commissioners delay the scheduled date for issuance of the tax deed on the property described above for sixty (60) days, until October 16, 1991. The extension of time is necessary to oempiate `r the RTC's investigation related to the property which, as you are aware, has a very colorful and complicated history. Resolution Trust Corporation ("RTC") , as Receiver, owns a 90% interest in a Promissory Note executed by Skies Unlimited, Inc. , on September 27 , 1979, in the amount of $300,000. The note is seoured by a Deed of Trust on the property. The loan balance is $280,000. Since learning about the scheduled issuance of the tax dead, RTC has arranged for the completion of an appraisal and an environmental assessment of the property. However, it does not appear at this time that the reports will be .completed in time for RTC to thoroughly review the reports and make an informed decision as to whether to. redeem the property by paying the delinquent taxes.. RTC regrets any inconvenience that the delay in the issuance of the tax deed may cause the county. " However, in light of the fact that RTC has a real estate portfolio consisting of 41,509 el _^gni , AUG 9 ' 91 10: 06 3032960256 PRGE . 005 SENT BY:MATHIS LAW FIRM P. C, ; 8— 9-91 ;10:11AM ; dy3033520242 1# 6 • • properties, with a book value of ' $10.9 Billion, it is often difficult to complete all the necessary studies in a timely manner. Colorado law allows you, as Commissioners, ' to delay the issuance of the tax deed. Section 39-11-191(2) , C.R.S. , relating to issuance of tax deeds to the county, states that the county . .ysy apply for and receive tax. deed. . ." The County is not required to receive such a deed, and as with any grantee under a deed, the county is not required to accept delivery of' the deed. The County's discretion in this matter may be particularly warranted, when you consider the fact that the issuance of the deed will not extinguish RTC's interest in the property pursuant to federal law. Pursuant to ¢12 V.S.C'. 1825(b) , the RTC does not consent to any levy, attachment, garnishment, foreclosure or sale of the subject property. Application of this same section reveals that the. RTC's lien will not be extinguished by the County's proposed .tax sale. . However, if review of the studies now underway so indicates, the RTC Light be willing to waivs its lien if appropriate. If that were the '•case it would certainly benefit the County's position if the property were to be resold. - I would like to meet with you to discuss RTC's request in more detail. Although I will be out of town until July 28, 1991, I am available any after that date to meet with you. I appreciate your consideration of the RTC's request. Very truly yours, THE MATHIS LAW FIRM,. P.C. -12--11%t Laura A. Ditges LAD/bg . . Our File No. 4601. 001 . . co; Steve Girard ' Dallas Hainbine Lae MO1219On . . • • te. • AUG 9 ' 91 10 : 07 .�. ' 3032960256 PRGE . 006 SENT BY:MATHIS LAW FIRM P. C. ; 8— 9-91 ;10:08AM ; d+3033520242 :it 1 THE MATHIS LAW FIRM, P.C. • ATTORNEYS AT LAW %O04 BROADWAY.SUITE EGON DENVER. COLORADO SO16OR TELEPHONE WM)144.41100 KAREN 1 MATHIS TELEFAX (309)1606-066114 JOHN R REHA OF COUNSEL: CHRIGTiNA A. FIFLIS LAURA A. DITGE6 HARVEY W.•CURTI6 CAROLYN DAHLGREN LEVIN STAR L. WARING RUTH A. FEIEetApENo TACSIMILE TRANSE sum SWEET H. ROBERT WALE H,JR. CONFIDENTIALITY NOTICE This faecimila transmission andior the doeumente acuepanying It may contain confidential information belbnging so the anger which is protected WY the attorney-client privilege. the Intonation is intenoad only for the use of the indivlduel er entity named Woo. II you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution or the toting of oily action in rel lone on'the contents of ihit intonation is strictly prohibited. If you hese received this transmission in error, please Imosdiately notify us try telephone to arrange for return of the, PLEASE DELIVER THE FOLLOWING yAGES ,TO• NAME/COMPANY l � e I Dill} .r achYt, DATE: e q/4 ( FAH NO. : /,3507 0.Ri/a PHONE NO. : Stic 600 MESSAGE: -19,-11441 (/ ll ty11A1 Golfj� �{J .nr,, v,,_ acuu_. • PLEASE 'NOTE: • URGENT: F:Y.I. : .RESFONSE REQUESTED: BARD COPY WILL FOLLOW: • • FROM: ata04 OUR FILE NO. : 00/n 00/ • • ath Law iro,P.C. • YOu will receive (0 ' 'pages of copy including this cover . ' • page. If you do not receive all pages please cor,,n/ uf' office as soon as possible at 296-33OO and speak with. /�[/IJt�ALQa..- • Thank you. ' onieb . AUG 9 ' 91 10: 04 3032960256 PAGE . 001 (5 FOR h. DATE ` ' /Q7 TIME 7'� P.M. M t 4VC. OF PHONE exretisioN Vat5 4 i &u b: g: �ssw f s' I,44 a411 $.44/..2,, Jen/ MESSAGE - R. td I attlelar 1-441, &42. ld ier . T,c O SIGNED TOPS i Fano MODS ✓1.10f,/ 4 F EAf ° �� a. ' F. TOWN OF ERIE Ni\ 645 HOLBROOK P.O.BOX 100 n4 ; ERIE,COLORADO 80516 ,,,, �` �^ '. 828.3843 665-3555 a y a ! a 2,74 tiuyust. G , .L1. ` ' • : c:t}i1 1-.... • .l :.;,J • .(. l: : Weld County Commissioners . , .� • :�:..; P . O. Box 156 �- _ • L..:Greeley, Co 80632 y"- bear County Commissioners: I am sure you are aware that the owners of Skies Unlimited ( Tri- C:ounty Airport ) tiled for bankruptcy a day before the property tax redemption period ended. 1 am requesting that you reconsider extending the contract with the Town of Erie on this parcel . The Town needs documentation for the FAA. The County also has good reason for such d move. First, the County is not interested in running an airport near Erie . Second, It is my opinion that a delay in the redemption injures the creditors, if you recall, Cdstlerock Construction are owed $1510,000 and they did not request that you extend the redemption date. Third, the Town of Erie is owed over $610+0,000 by the owners . Next, IL Is ,ray opinion that it is unlikely that there are interested purchasers and it purchasers exist, they likely are not aware of the liens on the property. Theretore, more people may ' lose their shirt" . It is my understanding the Airport has been Lor sale since 1964. Last, not only has tax collection been a problem but the recorder ottice and assessor ottice has many problems with this piece of land. Most parties agree that only the Town or County as owners can straighten out the legal boundary problems. The FAA will likely not otter more grant money to this tacility it it remains under private ownership. It not resolved, this will negatively attect economic development,. c_c_ 6/7 O9 POLICE DEPT. METRO 449-3156 LOCAL 828-3200 P.O. BOX 510 LONGMONT FIRE PROTECTION DISTRICT 666.4404 WELD c:UuliTY CUMMIS5ioNERS AUGUST 26. 1991 t'AGE in conclusion . the Town is otter•ind the county some security and a way out of Lhis mess . Host parties agree that the only way to stralghLµ►1 InIS out is to push forward with the proper process. How can anyone avoid paying any property tax since lie Sincel eiv . - /f/(64-71 �71 �cuLL ft. tic:Wu ToWD HUmi►lisLuaLor SAH/ jm cc: Doug Thurburn D: \wPwk\let\administ\wecom2 /4. r THE MATHIS LAW FIRM, P.C. ATTORNEYS AT LAW 1999 BROADWAY. SUITE 2605 DENVER. COLORADO 60202 TELEPHONE (303) 296-3300 KAREN J. MATHIS TELEFAX (303) 296-0256 JOHN F. REHA OF COUNSEL: CHRISTINA A. FIFLIS LAURA A. DITGES HARVEY W. CURTIS CAROLYN DAHLGREN LEVIN STAR L. WARING RUTH A. FEIERABEND H. ROBERT WALSH, JR. July 25, 1991 Connie Harbert George Kennedy C.W. Kirby Gordon Lacy Weld County Commissioners 915 10th Street Greeley, Colorado 80632 RE: Tax Deed Erie Airpark Subdivision, A Portion of Tract H Dear Commissioners: On behalf of the Resolution Trust Corporation, Receiver for the Barber County Savings and Loan Association in Medicine Lodge, Kansas, I respectfully request that the Weld County Commissioners delay the scheduled date for issuance of the tax deed on the property described above for sixty (60) days, until October 16, 1991 . The extension of time is necessary to complete of the RTC's investigation related to the property which, as you are aware, has a very colorful and complicated history. Resolution Trust Corporation ("RTC") , as Receiver, owns a 90% interest in a Promissory Note executed by Skies Unlimited, Inc. , on September 27 , 1979, in the amount of $300, 000. The note is secured by a Deed of Trust on the property. The loan balance is $280, 000. Since learning about the scheduled issuance of the tax deed, RTC has arranged for the completion of an appraisal and an environmental assessment of the property. However, it does not appear at this time that the reports will be completed in time for RTC to thoroughly review the reports and make an informed decision as to whether to redeem the property by paying the delinquent taxes. 15frti RTC regrets any inconvenience that the delay in the issuance of the tax deed may cause the county. However, in light of the -7'7,(),0-1 fact that RTC has a real estate portfolio consisting of 41, 509 t t' CC"' ', t-'A. Gil 1000 properties, with a book value of $19. 9 Billion, it is often difficult to complete all the necessary studies in a timely manner. Colorado law allows you, as Commissioners, to delay the issuance of the tax deed. Section 39-11-191 (2) , C.R.S. , relating to issuance of tax deeds to the county, states that the county .may apply for and receive tax deed. . . " The County is not required to receive such a deed, and as with any grantee under a deed, the county is not required to accept delivery of the deed. The County' s discretion in this matter may be particularly warranted, when you consider the fact that the issuance of the deed will not extinguish RTC's interest in the property pursuant to federal law. Pursuant to §12 U.S.C. 1825 (b) , the RTC does not consent to any levy, attachment, garnishment, foreclosure or sale of the subject property. Application of this same section reveals that the RTC' s lien will not be extinguished by the County's proposed tax sale. However, if review of the studies now underway so indicates, the RTC might be willing to waive its lien if appropriate. If that were the case it would certainly benefit the County' s position if the property were to be resold. I would like to meet with you to discuss RTC' s request in more detail . Although I will be out of town until July 28 , 1991, I am available any time after that date to meet with you. I appreciate your consideration of the RTC' s request. Very truly yours, THE MATHIS LAW FIRM, P.C. CPv Axitt 2-;12-&15c--(5j2-11`1?tO Laura A. Ditges LAD/bg Our File No. 4601. 001 cc: Steve Girard Dallas Hainbine Lee Morrison Hello