County Commissioners, Tuesday, tabled until Sept. 28, action on the default of a tax abatement agreement for a Green Isle business.
V & V Properties Partnership, LLP, a stained glass company owned by Ronald and Nancy Wittman-Beltz of Chaska, have been found to be in default of the development agreement created between the City of Green Isle, and Sibley County.
According to the Sibley County Auditor’s Office, an event of default may be defined as the failure by the company to pay ad valorem real property taxes, special assessments, utility charges or other governmental impositions with respect to the properties.
The firm has $31,350.74 remaining in unpaid real estate taxes for 2008 and 2009. The firm has paid $16,605.
When a letter is sent to V&V Properties Partnership, it will allow 30 days for the delinquent property taxes to be paid.
Failure of the firm to pay the taxes could result in the following:
•The City and County may suspend its performance under this agreement until it receives reassurance from the company, deemed adequate by the City, that the company will cure its default and continue its performance under this agreement.
• The City and the County may cancel and rescind the agreement.
• The City and County may declare the principal of the unpaid loan immediately due and payable.
• The City and County may take action, including legal or administrative action, in law or equity, which may appear necessary or desirable to enforce performance and observation of any obligation, agreement or covenant of the developer under this agreement.
Currently a 10 year tax abatement is in place for the business.]
During the County Board meeting, the owners called the Sibley County Attorney’s Office and offered to meet with the County Board. Commissioners decided to wait two weeks before taking action on this matter.