April 18, 2024

Union County Board of Supervisors approves a $100,000 tax abatement

The Union County Board of Supervisors approved a tax abatement of $100,000 for WDC Aquisitions LLC. during its regular board meeting Monday.

WDC bought Wellman Dynamics Corporation in May 2018. The 2016 Wellman bankruptcy left $160,000 in unpaid property taxes. WDC offered a $60,000 settlement to the county.

Union County Treasurer, Kelly Busch stated that this is a unique situation due to the existance of a tax sale certificate and the bankruptcy of Wellman. Busch, after having consulted with Union County Attorney, Tim Kenyon, recommended that the board of supervisors approve the abatement with the proposed settlement.

The board discussed the fact that any attempts to recoup the back taxes would not be cost effective and that there is no recourse to legally collect the monies from WDC Aquisitions because the bill of sale states that the purchase was “free and clear of any and all liens, encumbrance claims,” etc.

Board member, Ron Riley, noted that it is in the county’s interest to work with WDC going forward as they are a major employer and tax payer. Busch pointed out that WDC Aquisitions has already paid the first installment of taxes since they acquired the business.

The motion to approve the abatement was passed unanimously.