Here’s a letter to the Tamarack Homeowners by the Tamarack Municipal Association on 7/27/19 to explain in much more detail the current situation with the Tax Deeds:
Legal Update for Tax deed proceedings on July 25, 2016
Hello Tamarack Homeowners,
The Valley County Commissioners – not a court — held a hearing this week (July 25th) at the Valley County Commissioners offices regarding the Notices of Pending Issues of Tax Deed filed on properties within Valley County. The majority of the parcels that were subject to the tax deed were located within Tamarack Resort. TMA’s Board has prepared the questions and answers below to help in your understanding of what happened and what may happen next.
WHAT IS A TAX DEED HEARING?
If a property owner is 3 years delinquent in their property taxes, the County holds a tax deed hearing at which time the property ownership transfers to the County. At the tax deed hearing the County accepts the property and may set a date for a tax deed sale – an auction of the property.
Delinquent owners have an opportunity to speak at the hearing should they feel that there is reason for the County to not take ownership of the property.
WHICH OF THE PUBLISHED TAMARACK PROPERTIES WERE OR WERE NOT SUBJECT TO THE TAX DEED HEARING?
BAG, owner of the 4 properties, primarily future hotel sites paid taxes on all but the Belvedere Ridge property, proposed site of the Fairmont Hotel.
New TR Acquisition Co. LLC (New TRAC) had multiple scenarios:
Taxes were paid on their Lodge at Osprey Meadows properties such as golf drive, hotel administration, hotel registration, spa terrace and laundry. Taxes were paid on the TVT bunker, 2 lower ski area parcels, several undeveloped properties in the south side of the resort. Taxes were not paid on several properties which were subject to the tax deed hearing. New TRAC filed an objection to the tax deed proceedings on these properties which included Design Plaza, a large parcel that includes a number of parking lots and the recycle center area, medical clinic, resort operations building, market, ski maintenance building, snow-front domes, 14 hotel rooms in the lodge, several unsold properties, miscellaneous undeveloped properties including Heritage
They did not pay taxes on the leased land improvement parcels (3 golf holes and the parcel with the 2 main ski lifts, zip line ad mid mountain lodge)
UWW, owner of the unfinished Village, paid all taxes due so none of their properties were impacted.
WMG or someone on their behalf paid taxes on the golf course and driving range parcels plus the golf maintenance building. No taxes were paid on any of their properties in the Lodge at Osprey Meadows such as the pool, terrace, Morel’s & Lounge, spa, etc. These Lodge properties were subject to the tax deed hearing.
WHAT IS THE OBJECTION THAT WAS TALKED ABOUT AT THE HEARING?
In addition to delinquent property taxes there are also delinquent Local Improvement District (LID) assessments from the North Lake Recreational Sewer and Water District (North Lake). North Lake entered into an agreement with the County to act as the collection authority for delinquent LIDs.
New TRAC filed an Objection with County, arguing that there were deficiencies in the required Tax Deed Notices of delinquencies on certain of their Tamarack Resort properties. The purported deficiencies were primarily related to the LID delinquencies such as:
Incorrectly specified tax year and delinquency date
Incorrectly calculated delinquency amounts certified by North Lake to the County
Improper application of the 2% late fee to LID delinquencies
WHAT HAPPENED AT THE HEARING IN RELATIONSHIP TO TAMARACK?
At the hearing, the County Commissioners listened to NewTRAC’s lawyers and witnesses. At the conclusion of that hearing, they took the matter under advisement and, per guidelines, will prepare a written decision. We expect the written decision within 2 weeks. Because of the objection and delayed decision, the County Treasurer chose to not ask the commissioners to approve the tax deed for the two leased land parcels, which the County will address later.
A decision may mean that the objection is recognized, which might result in new notices of a tax deed to address the defects stated in the Objection. Or, the County could decide that the defects are not significant or meaningful enough to justify further delay. In that case, the County could issue tax deeds with the decision and become the owner of those 35 NewTRAC parcels.
For all other properties for which taxes had not been paid, the County accepted them and will be filing the tax deed. That means the County now owns the BAG Fairmont and WMG Lodge properties.
WHAT DOES IT MEAN TO HAVE PROPERTY GO OVER TO THE COUNTY?
The county becomes the legal owner of the specific land parcels that they acquire with a “tax deed.”. They will set a date and auction these properties to the public.
Potential resort owners can use this as an opportunity to buy into the Resort
HOW CAN YOU OPERATE IF THE COUNTY OWNS THE PROPERTY?
We are working with the County to ensure the changes in title have minimum impact on Tamarack and the homeowners. TMA also sees that continued operations will preserve or enhance the eventual sale or auction value of parcels that the county has or will acquire through the tax deed process.
IS TAMARACK SHUTTING DOWN?
Absolutely not. The TMA Board and other property and business owners expect to retain the vibrant and beautiful Tamarack environment for both homeowners, the community and our many guests and visitors to enjoy.
WHAT IS THE DIFFERENCE BETWEEN WHEN TAMARACK WENT INTO FORECLOSURE AND THIS?
We knew that clear title might take a little more time when the foreclosure ended in March 2014 because of taxes and LIDs. Title is now clearer on the WMG Lodge and the BAG Fairmont properties. The County’s decision on the 35 NewTRAC parcels may result in the County, not a banking lender, owning them.
IS THIS A GOOD THING?
This is really the last phase in moving towards a single consolidated resort owner. Although it is disruptive, we view it as a positive step towards the long term success of the Tamarack Resort.
WHO IS NEW TRAC?
Credit Suisse AG was the collateral agent for certain lenders at the time of the Sheriff’s Sale after the foreclosure on the developer, Tamarack Resort LLC. Upon becoming the successful bidder at the Sheriff’s Sale in March, 2014, Credit Suisse and its associated lenders formed New TR Acquisition Co. LLC (New TRAC). New TRAC became the owner of major portions of Tamarack Resort including the ski facilities.
WHO IS REPLAY?
Replay Resorts is a separate entity that was hired by New TRAC first to oversee the Resort’s assets and later to operate and manage ski facilities, summer recreation, bars and restaurants, residential construction and lodging at the Resort.
EXPLAIN THE DIFFERENCE BETWEEN NEW TRAC AND REPLAY.
As stated above, New TRAC has been the owner of major portions of Tamarack Resort, and has provided funding of operations. Replay Resorts is the contractor that NewTRAC hired to operate and manage ski facilities, summer recreation, bars and restaurants, residential construction and lodging at Tamarack Resort.
We would like to remind you about the TMA homeowner town meeting on Wednesday August 3rd. Details are posted in the “members only” section of the TMA website.
Levi Johnson | Community Manager
Tamarack Municipal Association
311 Village Drive | Tamarack | Idaho 83615
Direct: 208.315.0859 | Cell: 208.315.0859