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1 <br /> <br />2 <br /> <br />3 <br /> <br />4 <br /> <br /> 5 <br /> <br /> 6 <br /> <br /> 7 <br /> <br /> 8 <br /> <br /> 9 <br /> <br /> 10 <br /> <br />11 <br /> <br />12 <br /> <br />13 <br /> <br />14 <br /> <br />15 <br /> <br />16 <br /> <br />17 <br /> <br />18 <br /> <br />19 <br /> <br />20 <br /> <br />21 <br /> <br />22 <br /> <br />23 <br /> <br />24 <br /> <br />25 <br /> <br />taxes will you pay? <br /> <br /> JEFF JOHNSON: <br /> <br />29 <br /> <br />The property is owned <br /> <br />by a non-profit limited partnership that AACAP <br />is the general partner of, and controlling <br />partner. And that property then is subject to <br />the same real estate tax laws that any housing <br />ownership entity would be. <br /> <br />4 -D? <br /> <br />4-D. <br /> <br />RESIDENT: <br /> <br /> JEFF JOHNSON: <br />Yes. <br /> <br /> RESIDENT: <br /> <br />You didn't apply for the <br /> <br />The property will be <br /> <br />That's one percent, that's <br /> <br /> all you pay. Who pays the other 99 percent? <br /> RESIDENT: We do. <br /> RESIDENT: We pay it. <br /> <br /> JEFF JOHNSON: One percent is one <br /> percent of value, just like the single family <br /> home rate is one percent of your evaluation. <br /> <br /> RESIDENT: You knew it was 4-D, why <br /> didn't you tell us that? See, you guys are <br /> <br /> hiding things from -- <br /> RESIDENT: <br /> <br />~./~ ~r.e p e-..~¥/~a~e s-i.~ be .~ subsidtZ.~d~, ih c'any <br /> <br /> LARRY BAKKEN: What the gentleman has <br /> <br />ADAMS COURT REPORTIN~ (612) 421-2486 <br /> <br /> <br />