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HUD committee advances termination of Syndicate Trust CID, citing no remaining assets
Summary
The HUD Committee voted unanimously to advance board bill 127 to terminate the Syndicate Trust single-site CID, with petitioners' counsel saying the district has no remaining assets and remaining small sales-tax collections will be wound down under statute.
The HUD Committee advanced board bill 127 by a unanimous 7–0 roll call after petitioners' counsel said the Syndicate Trust single-site community improvement district (CID) has no remaining assets and requested formal termination under statute.
Alderman Aldridge introduced the measure as a simple termination of a CID established in 2008 that petitioners said is no longer being used. Nick Lucetti, representing the petitioners, told the committee "there are no assets of the district" and explained that small sales-tax receipts historically covered outstanding obligations and that the winding-up language in the petition is a statutory catchall to formally close the district.
Committee members asked practical questions about whether retail operators remain subject to the district charge and whether sales-tax collections had already been stopped; counsel said two retail operators remain in the district and that cessation of sales-tax collection would occur in connection with the petition.
The committee moved and approved a do-pass recommendation for board bill 127. Clerk roll call recorded 'aye' votes from Aldermen Cone, Schweitzer, Keys, Vice chair Sonia, Browning, Aldridge and Chair Clark Hubbard. The measure will proceed according to normal Board procedures.
