Vermont Territory Reclamation Authority (V.T.R.A.)
A Subsidiary of Vermont L3C #0310557
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Vermont towns insure tax / utility payment through an expensive, accessibly challenged process that includes a Town Hall Open Public Delinquent Tax Auction Bidding Platform.
V.T.R.A. with The First Vermont L3c Bank will offer Vermont property owners short-term custom ‘Pre-Default Town Property Tax Loans’ to give them a better deal "not" to default, than the town currently does when they do, with a collateralized 12% per year on the principal plus late fees, with a potential loss of all equity.
If everybody who needed one accepted our Pre-Default Loans, 274 Vermont towns average $80,000 yearly in delinquent tax payments, 22-Million at 33%+- in auction fees, would be a potential savings to Vermont property owners of 7 million dollars yearly, plus or minus.
As a safety issue, V.T.R.A. will freely accept exclusive ownership for Vermont’s derelict potentially libelous personal and municipally owned real-estate to fund previous and future claims, develop emergency and fire access, address public safety and health hazards like; refrigerators, vehicles, toxic chemicals, scrap metal, garbage, open wells, unsafe structures, and landscape, for 'Up Purposing', All Through Funding.
Each Donated Real-Estate Parcel as a separate Project, will have a corresponding web page with detailed pictures and estimates of each the jobs required, and their progress toward increased property tax valuation revenue, potential in-habitability, sale, lease, donation, re-purposing such as public parks, cell phone signal / pull off parking, plow truck and school bus turn-arounds, and beautiful roadside Public Park Picnic Areas.
A.C.C.L3C members can invest in any V.T.R.A. ‘Targeted Fund-able Projects’ and receive a 3.14% dividend on their investment donation when the project is completed.
Through General Funding, V.T.R.A. can assist individual, business, and municipal Vermont property owners who cannot afford to bring their property into compliance with local, state, and federal health safety guidelines and ground water pollution standards.
If someone “donates” their property to V.T.R.A. before the property becomes tax delinquent or before a second delinquency forces the town to transfer ownership to the previous high bidder, V.T.R.A. can pay off current liens and fund rehabbing it even to give/rent/sell it back to them, at cost, or on a sliding scale, our mission is accomplished.
Through V.T.R.A. and The First Vermont Tax Bank, additional income from an optional ‘Pay It Forward’ tax bill payment installment system, Vermont towns could maintain and stabilize their treasury to anticipate economic fluctuations and catastrophic events, ending the necessity for ‘Traditional Borrowing’ to stay solvent.
Vermont towns auction off their delinquent tax and utility bills at a municipally guaranteed 12% per year, compound monthly. Bidders often netting around 6.5%, as bidding competition often increases the total investment above the initial tax bill amount due. Any amount competitively bid above the initial amount due is held in escrow by the town, as a dead investment. Some properties get no bids, not even from the town, due to potential liability concerns.
If Vermont towns choose a “Sealed Bid” system of bidding, over the current “Open Public” bidding system, and accepted a standard authorized bid requisition form for USPO mail or E-mail for placing bids, then 'Everyone' will have 'Equal Access' to bid at the 'Town Tax Auctions’, thereby legally leveling the playing field.
In addition to real-estate donation, acceptance of goods and vehicles will require appropriate facilities for processing. A “Good News Garage" TM style facility falls within our missions' physical and financial purview . <>
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