Springfield SD approves settlement tied to Springfield Hospital assessments, solicitor says district saves about $1.2 million
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Summary
The board approved a settlement that, according to Solicitor Mark Sereny, prevents abandonment of Springfield Hospital and adjacent parking garage in bankruptcy, requires the prospect to relinquish assessment appeals dating to 2017 and is estimated to save the district about $1,200,000 in refunds.
The Springfield School District Board of School Directors on Feb. 26 approved a proposed settlement to resolve tax-assessment appeals tied to two parcels — Springfield Hospital and the adjacent parking garage — and to address a related prospect bankruptcy threat.
Solicitor Mark Sereny told the board the agreement would prevent the properties from being abandoned in bankruptcy and would allow sale to a local buyer under terms that require the prospect to give up tax-assessment appeals dating back to 2017. ‘‘These two properties will not be abandoned in bankruptcy,’’ Sereny said, describing the settlement as the product of coordination among the district, Springfield Township and Delaware County. He estimated the district would avoid roughly $1,200,000 in refunds if the prospect relinquishes past appeals.
Under the settlement as described in the meeting, assessments for tax years 2025 and 2026 would be set; any readjustment of assessments could resume beginning in 2027 by appeal. Sereny said the county and township had already approved the proposed agreement.
Board members moved and seconded the motion and the chair announced the motion carried 9 to 0.
Next steps recorded in the meeting materials direct the district solicitor to finalize the language of the settlement agreement; the terms and full resolution are available on the district website under the meeting agenda.