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Holy Cross says Rotman site is privately owned; council asks manager for report on keeping property on tax rolls
Summary
College official told the council the Rotman property is held by Madison Brussels LLC and is taxable; the council voted to ask the city manager to pursue a written agreement with Holy Cross and Madison Properties to preserve tax revenue on future development.
Sue Hunt, representing the College of the Holy Cross, told the council the recently acquired Rotman site is owned by Madison Brussels LLC, a for-profit entity, and the property is currently subject to taxation. Hunt said Holy Cross has generally paid taxes on most properties it holds and that, for a small subset of properties removed from the tax rolls, the college has made voluntary payments in lieu of taxes. She provided fiscal figures for the most recent year: Holy Cross paid about $276,000 in property taxes and an additional roughly $130,000 in…
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