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Permalink Reply by Skip Peel - Mineral Consultant on July 26, 2009 at 5:02

Payment of back taxes. The article states that many operators will not sign a lease with a land/mineral owner if taxes on a tract are not current.

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Permalink Reply by E & E on July 26, 2009 at 5:08

Skip,
Back Taxes?? That's a large past due bill, wonder how many years past due. Taxes (& penalty fees) for 11 acres? How did they get away with that? If it had been my property, I would have already lost it.

Earlene

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Permalink Reply by Skip Peel - Mineral Consultant on July 26, 2009 at 5:13

Good questions, Earlene. The article did not provide the particulars but the information for the article came from the City of Shreveport's Property Management Division. The head of that division is a friend and unless we get rained out, I should see him at a Krewe party this afternoon. You can bet I will ask him.

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Permalink Reply by E & E on July 26, 2009 at 5:18

Skip,
Thanks. I sure hope it doesn't get rained out, I can't wait for the report. This is confusing to say the least. That is why I questioned as to what the payment was actually for.

Earlene, raining in our neck of the woods

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Permalink Reply by Skip Peel - Mineral Consultant on July 26, 2009 at 14:27

Earlene.
It turns out to be an interesting story that a number of members may remember. Many years ago the Sheraton Inn on Greenwood Road in West Shreveport went out of business. It remained vacant and became quite run down over the years causing many complaints from the neighbors. After much legal wrangling, the City of Shreveport eventually gained the legal standing to demolish it. The quite large back tax bills to the city and the parish are the result of approximately 25 years of adjudication and the cost and interest on the demolition expenses incurred by the city. I wonder what the lease offer is for this 11 acres that would make an approximately three quarters of a million dollar tax bill worth paying in order to secure a lease?

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Permalink Reply by E & E on July 26, 2009 at 15:03

Skip,
Thanks for the report! Now I maybe showing my age. Yes, I remember all about the Sheraton ordeal or maybe I was born that year........
Now your question is a great question. Sure makes ya wonder.
Earlene

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Permalink Reply by Skip Peel - Mineral Consultant on July 26, 2009 at 15:11

Chesapeake is quite active in SW Shreveport. The old Sheraton site is a considerable distance from that development activity. Makes ya go Humm? Petrohawk seems to be concentrating on SE Shreveport/S Bossier City.

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