EXTRA: Town Paying Dickie Foster’s Real Estate Tax
CAPE CHARLES WAVE
March 20, 2014
Lease documents supplied to the Wave show that since 2010 the Town of Cape Charles has paid all real estate taxes for seven commercial lots on Randolph Avenue owned by Bay Creek developer Richard “Dickie” Foster.
The annual Northampton County tax bill is $2,355 and the annual Cape Charles tax bill is $935, for a total of $3,290 paid by the town each year.
Under the lease agreement, the town also bears all expense for landscaping, cutting the grass, and “otherwise maintaining the property.”
The lease was signed in June 2010 by Foster and Town Manager Heather Arcos. By June of this year the town will have saved Foster over $13,000 in taxes and at least $17,000 lawn care, for a total of over $30,000.
CONTINUED FROM FIRST PAGE
The only benefit received by the town is permission to display a “Welcome to Historic Cape Charles” sign on one of the lots. Town Manager Arcos has not explained why seven lots are required to display a welcome sign on one lot.
The sign includes a large “Rotary International” emblem along with a notice of weekly meetings at the Eastville Inn, eight miles north of Cape Charles town limits.
As reported March 17 (CLICK), Town Council now plans to purchase the seven lots from Foster, which will remove them from both the county and the town tax rolls. The purchase price is $100,000.
Town Council is expected to vote tonight (Thursday) on purchasing the lots.