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Februar~ 27, 2001
<br />
<br />Financial Impact:
<br />
<br />The change order amount for this project is approximately $153,180. The original
<br />contract amount plus the cost to relocate the Virginia Power duct bank in the project
<br />was $657,851.71. With final adjustments, the total cost including this change order
<br />will be $644,832.42. Economic Development Alliance has already approved this
<br />change order through the grant.
<br />
<br />1. Mark Geduldig-Yatrofsky, 363 Middle Street, spoke in opposition to the
<br /> change order.
<br />
<br /> Motion by Mr. Whitehurst, and seconded by Mr. Moody, to exceed the 25% limit
<br />of allowable change orders to the contract for drainage improvements of PortCentre
<br />Parkway, and was adopted by the following vote:
<br />
<br />Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst
<br />Nays: None
<br />
<br />01 - 72 - Adoption of a motion to refund the over assessment of business personal
<br />property taxes paid, $77,741, plus interest in the amount of $15, 198 to Cogentrix
<br />Virginia Leasing Corporation due to erroneous assessment of personal property of the
<br />business.
<br />
<br />Recommendation:
<br />
<br />· Adoption of a motion to refund the over assessment of business personal property
<br />taxes paid, $77,740.85, plus interest in the amount of $15,197.72, to Cogentrix Virginia
<br />Leasing Corporation.
<br />
<br />Purpose and Need:
<br />
<br />· Cogentrix Virginia Leasing Corporation's Pollution Abatement Equipment was
<br />included twice in the assessed value of business personal property for tax years 1997-
<br />2000 calculated by the Commissioner of the Revenue's Office.
<br />
<br />· City Code Section 35-12 (f) states that a refund which includes interest to be paid in
<br />excess of $1,000 requires advance approval of City Council.
<br />
<br />· City Code Section 35-12 (e) states that interest will be paid along with the tax refund
<br />if the erroneous assessment is paid as a result of miscalculation on the part of the
<br />Commissioner of the Revenue.
<br />
<br />Financial Impact:
<br />
<br />· Business Personal Property Tax Refund with interest for the following tax years:
<br />
<br />Tax Year Tax Paid Interest Total
<br />
<br />1997 $18,558.82 $ 6,492.99 $25,051.80
<br />1998 $18,600.06 $ 4,648.16 $23,248.22
<br />1999 $20,290.98 $ 3,042.43 $23,333.41
<br />2000 $20,290.99 $1,014.14 $21,305.14
<br />
<br />Total $77,740.85 $15,197.72 $92,938.57
<br />
<br /> Motion by Mr. Pitts, and seconded by Mr. Whitehurst, to refund the over
<br />assessment of business personal property taxes paid, $77,741 plus interest in the
<br />amount of $15,198, to Cogentrix Virginia Leasing Corporation due to erroneous
<br />assessment of personal property of the business, and was adopted by the following
<br />vote:
<br />
<br />Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst
<br />Nays: None
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