BC 1993 04 05 - Laserfiche WebLink

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250 Thus, in an effort to get us off the mat and in a posture to focus on more positive activity to promote the general welfare of the County, we recommend approval of the settlement. Specific action requested: 1. Approve in principle the proposed settlement as contained in this memorandum. 2. Authorize the Gounty Manager to execute appropriate final documents on the personal property issue consistent with the settlement proposed and outlined in this memorandum. 3. Authorize County Manager to attempt to reach agreement on future assessments of Philip Morris personal property using the same approach as that which formed the basis of this settlement; namely, the American Appraisal approach less capitalized interest, less economic depreciation, and including approximately 74 percent of indirect costs. Informal Public Comments At 10:08 A.M., Chairman Carpenter opened the meeting for Informal Public Comments. Mr. Jim Hoffman, Chairman of the Greater Cabarrus County Economic Development Board of Directors,. supported the settlement of the Philip Morris tax issue for the following reasons: Cost of legal fees; negative impact on the County's image and industrial recruitment; and the issue of fairness. Mr. Tom Ramseur, President of the Concord-Cabarrus County Chamber of Commerce, asked that the County actively seek a solution to the Philip Morris tax dispute. He further asked that the settlement be fair and equitable to the County, Philip Morris, and the taxpayers of the county. Mr. Wallace Hinnant, speaking as a individual taxpayer, objected to the proposed settlement with Philip Morris and stated in his opinion the issue should be decided by the courts. He suggested the possibility that individuals and other businesses in the county would also seek relief from their taxes. Mr. Wayne Trexler, resident of 8551 Cottonwood Trail, questioned a 25 percent increase in his tax valuation although he lost approximately 40 trees during Hurricane Hugo. There was no one else present to address the Board, and Chairman Carpenter closed the Informal Public Comments portion of the meeting. Mr. Kenneth Ollo spoke against the proposed settlement with Philip Morris as outlined in Mr. Witherspoon's memorandum. He stated that "Tax Watch" would be scrutinizing the proposed settlement for any violations of the tax laws and would seek remedies against the County and commissioners if any violations are found. Philip Morris Tax Information - Commissioner Barnhart Commissioner Barnhart reviewed the history of the Philip Morris tax dispute and discussed the three major issues of capitalized interest, indirect costs and personal versus real property. He presented a prepared response outlining 21 points of objection to the proposed settlement as set forth in the April 5th memorandum from Mr. Witherspoon. Motion was made by Commissioner Payne and seconded by Commissioner Casper to instruct the County Manager to proceed with the following items as listed on the final page of the April 5, 1993 memorandum from Mr. Witherspoon as quickly as possible. (1) (2> Approve in principle the proposed settlement as contained in this memorandum. Authorize the County Manager to execute appropriate final documents on the personal property issue consistent with the settlement proposed and outlined in this memorandum.