This resolution approves a settlement for $890,852 plus interest to FC 5M M2 Exchange, LLC, related to a claim of overpayment of real property transfer taxes. The claim was filed on May 25, 2021, and the resolution has been passed by the city.
Resolution approving the settlement of the unlitigated claim filed by FC 5M M2 Exchange, LLC against the City and County of San Francisco for $890,852 plus statutory interest; the claim was filed on May 25, 2021; the claim involves an alleged overpayment of real property transfer taxes.
How it got here
The legislation originated from a claim filed by FC 5M M2 Exchange, LLC regarding an alleged overpayment of real property transfer taxes.
FC 5M M2 Exchange, LLC filed a claim against the City and County of San Francisco for an alleged overpayment of real property transfer taxes.
The claim was received from the City Attorney's office for review and recommendation.
The claim was assigned to the Government Audit and Oversight Committee for further consideration.
The committee recommended the settlement of the claim for $890,852 plus statutory interest.
The Board of Supervisors adopted the resolution to settle the claim as recommended by the committee.
The Mayor approved the resolution, finalizing the settlement of the claim.
Reconstructed from attached documents & the official record
