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HOW TO UTILIZE FUNDS FROM SALE OF COMMON AREA LAND

In connection with the Black Mountain Boulevard extension project set to commence later this year, ADOT has made an offer to purchase a 66,377 sq. foot parcel of Wildcat Ridge’s common area land along the western boundary of the subdivision for $634,783. Areas of discussion will include the offer itself and whether it should be accepted, in addition to how any accepted funds are to be utilized, whether any accepted funds should be disbursed to homeowners, and any tax implications to homeowners of such a payout.

Glenn Kroemer, CPA (of the Kroemer Company, PLC) will be present to provide information and answer questions on tax implications of a potential payout. Again, the Board would like to hear any feedback, questions, comments, or thoughts from all residents on this issue.
 
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