T: HC Development, LLC.


T ) Property sale / HC Development, LLC. from Ramsey Furniture, Inc.

( given a $ 500,000.00 discount by failing to assess )  Documents

  1. In January of 2007, HC Development, LLC. purchased a large store building located on the north side of New Route 13 ( frontage road ) in Carterville, Illinois from Ramseys Furniture, Inc. ( locally aka Dushell’s Furniture.)

  2. P-TAX records confirm that the total purchase price for these three tax parcels was $ 1,100,000.00. ( see documents referred to as Exhibit T )

  3. The large structure’s interior had been stripped “to the bare bones” before the time of the sale.

  4. HC Development, LLC. procured two mortgages dated the same day of the sale both recorded on this property. One for $1,100,000.00 and the second for $ 500,000.00, presumably for the cost of remodeling the stripped interior of the building.

  5. At any rate, the Williamson County Tax Assessor failed to reassess this property to reflect its actual fair cash value based on the purchase price and the required complete interior renovation not only for the following tax year but all of the subsequent years to date.

  6. The property currently houses numerous businesses, strip mall style.

  1. The rough estimate of tax monies the county taxpayers have been defrauded of on this transaction to date is approximately $ 70,000.00.

( View Exhibit T Documents )


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