HomeMy WebLinkAbout12-16-24 Public Comment - J. Bennett & R. Deming - Resolution 5631, 5632 & 5633From:Julie Bennett
To:Bozeman Public Comment
Cc:Rich_Deming@hotmail.com
Subject:[EXTERNAL]Resolution 5631, 5632 & 5633: Re-establishment and Extension of the Meadow Creek SubdivisionPayback Agreement for Traffic Signal Improvements, Water Improvements, Sanitary Sewer Improvements
Date:Monday, December 16, 2024 10:08:16 PM
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We are property owners within the Meadow Creek Subdivision Payback
Agreement for Sanitary Sewer Improvements, Traffic Improvements, and
Water Improvements. We own a tract of land at S. 27th and Graf Street.
My parents, Marshall and Luzann Bennett also own 2 tracts of land in this
area within the payback districts.
We would like to ask that you address if MC Capital LLC actually spent
funds to build the improvements within the payback agreement districts.
Meadow Creek LLC was the entity that executed the agreements with the
City of Bozeman and we assume that entity paid for the improvements.
MC Capital LLC was not party to the contract with the City of Bozeman. It
is our understanding that some years later Meadow Creek LLC assigned
their rights to receive the payback district funds to MC Capital and
subsequently Meadow Creek LLC filed for bankruptcy and is now defunct.
We would like to know the relationship between MC Capital LLC and
Meadow Creek Partners LLC
We would like to know if MC Capital should be entitled to continue
receiving funds if the payback districts are extended
We would like to know if there is any precedent for extending a
payback district with City of Bozeman for an additional time frame.
The extension would provide another 20 years to the payback district
time frame. Is 40 years excessive?
Thank you.
Julie Bennett & Rich Deming
406-581-4143
Juliebennett1@hotmail.com