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| Name: |
UncleSam
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| Subject: |
Is this old news??
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Date:
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2/26/2008 12:33:38 PM
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Forgive me if it is; I haven't been paying attention lately.
"There is a very strong *rumor* floating around that Russell Lands has cut a deal with 3 of the 5 Tallapoosa County Commissioners to raise the tax rate on properties inside of all Russell Lands developments and that a portion of those tax revenues will be returned to RL's as an "incentive" to build the Russell Crossroads retail/office development on Hwy 63 just north of the Kowaliga Bridge. This development, btw, is already under construction.
In The Ridge development covenants - and will be in all future RL developments - there is a stipulation that every time (in perpetuity) that a property sells there, a 2% fee is paid to the Russell Forest Preservation Organization. This 2% fee is on top of the real estate fees and the homeowners association annual fees. The RFPO, btw, is a legal entity that is basically there to collect income for Russell Lands to pay the taxes on their other properties - none of the income is obligated to be spent for the improvement or maintenance of the development from which it is collected.
While there is state legislature allows for tax increases on certain properties, those increases must be approved by public referendum. NO mention of a referendum in those discussions and there isn't anticipated to be any."
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| Name: |
Feb
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| Subject: |
Is this old news??
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Date:
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2/26/2008 12:45:31 PM
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If any or all of this is true, then there is foul smell somewhere. This time it is not coming from the Dadeville sewer.
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| Name: |
au67
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| Subject: |
Is this old news??
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Date:
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2/26/2008 1:28:17 PM
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As I have posted previously, at the January 14, 2008 meeting of the Tallapoosa County Commission, a resolution for the formation of Russell Crossroads Improvement District and a resolution for the formation of Russell Crossroads Cooperative District was passed unanimously. As with all matters that come before the commissioners, very little detail is made available to the public.
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| Name: |
LifeTime Laker
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| Subject: |
Is this old news??
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Date:
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2/26/2008 2:11:04 PM
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IMHO anyone wo buys in a Russell Development is foolish and anyone that believes they have the best interest of the lake at heart is a fool. It is NOT the same company Ben started way back when. Somebody, somehow needs to rein them in, but I don't see it happening
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| Name: |
boataholic
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| Subject: |
Is this old news??
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Date:
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2/26/2008 3:15:37 PM
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I'm guessing the Improvement District was created under the authority of the Code of Alabama 11-99A-4. A key provision in the second sentence of the law says "The owners shall prepare a written petition executed by the owners of all land proposed to be included within the district." The rumor of taxing past Russell home buyers doesn't seem likely.
I don't have time to read all of 11-99A right now but I did notice the District gets a bunch of State tax exemptions also.
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| Name: |
8hcap
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| Subject: |
Is this old news??
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Date:
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2/27/2008 9:38:32 PM
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LTL,
Why did you insult many happy owners of property in Russell Lands developments. Yes, I agree they are taking things a little too far at The Ridge but the market will ultimately correct that situation.
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| Name: |
Catherine
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| Subject: |
Is this old news??
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Date:
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2/28/2008 9:51:35 AM
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You seem to have a problem with anyone whose opinion differs from yours? Best get comfortable with it now, for when you grow up and get into the real world, you're going to find that opinions are rarely consistent when more than 2 people (like mom and dad) are discussing anything.
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| Name: |
8hcap
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| Subject: |
Is this old news??
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Date:
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2/28/2008 12:47:04 PM
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So, I guess you are joining in with LTL calling all people that purchased a lot in a Russell development are fools?
I don't have to get used to anything. If one cannot comment on a post or disagree with an opinion or idea, then this board would be useless and boring.
You, on the other hand, have a single agenda - to bash Russell Lands.
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