The two-acre site across the street from the $265m. Uptown arena and bordered by the $521m. light rail line and which was to be the site of a 12-story $60m. mixed use project and 1400-space parking deck for Bank of America has a delinquent 2008 tax bill of $95,446, according to county online records.
BofA assumed ownership of the parcel in October 2007 from the city of Charlotte with the understanding that high-density development would ensue. Initially Lincoln Harris was to help BofA develop the project, but then Spectrum Properties assumed that role with the Center City Green proposal in 2008. The original plan would’ve put 88 more condos Uptown.
Now, like other Uptown projects, the condos are on hold, but the parking deck is full steam ahead, reflecting the loss of parking elsewhere in Uptown.
The parcel carries a May 2008 tax value of $7m. and a notice on that determination was sent to BofA’s corporate tax office on Tryon Street at that time. The current interest penalty on the bill is $1871.
Bonus Deadbeat: Newly installed racing don Marcus Smith owes $23K on his $1.7m. Sharon Lane home. This makes six years running that the multi-millionaire has paid his property taxes after incurring a late penalty. For tax year 2007 county records indicate that the SMI COO bounced a check for $22,646.
Update: The city confirms that it got $8m. for the parcel in Oct 07, and the county turns around and values it at $6.99m. six months later. Hmmm.
Update II: WBTV led their 11pm newscast with this story, adding that BofA spokespeople were not able to explain what is going on.
