In the comments section in the previous post, the first comment (Anonymous of course) claimed I am always trying to make "Something out of nothing" with regards to the city settling a law suit against SunTrust Mortgage. That suit stemmed from the trumped up law suit the city had filed against TJ Waconia where Mayor Rybak claimed, "This is personal."
A quick rundown on the FACTS: (don't worry, I always post links to back them up)
The city files a law suit against TJ Waconia to gain control over 140+ TJ Waconia owned properties. The city announces and the StarTribune's Steve Brandt report that the city won their case and that they were now in control of those properties.
OOOPS!!!
The city's attorneys who filed the suit never bothered to have a title search done to see who actually owned the houses. They merely went to the County site which still listed TJ Waconia as the owners but, all of the houses had already been foreclosed and were owned by SunTrust Mortgage.
The blatant mistake the attorneys made was that they didn't bother to inform SunTrust of the suit. Why? Well had they done that, they would not have been able to have Rybak do the bullshit press conference to announce the law suit.
SunTrust countered the law suit and the city was caught red-handed. They SCREWED UP! Where was the press conference to tell the public that they were wrong?
So, here is the details to the settlement or what the city had to do to buy their way out of the mess that they got themselves into with SunTrust Mortgage. Note that TJ Waconia is no where to be found in the settlement because... They were not involved at that point.
I sure hope that anonymous commenter comes back to question this proof but, just like John Hoff a.k.a. Johnny Northside would say, "Do as I say, NOT as I do."
Here is the part that I have copied for the readers as well as the link to the site.
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http://www.finance-commerce.com/publicnotices.cfm?mode=mpls&display=html&id=279
MOTION
Lilligren moved to approve partial settlement of the case of City of Minneapolis, et al. v. T.J. Waconia, et al., Hennepin County Court File No. 27-CV-08-7880 by approving settlement of claims against SunTrust Mortgage, Inc. (“SunTrust”) according to terms that substantially comply with the following:
A. SunTrust, shall agree to sell to the Greater Metropolitan Housing Corporation 48 real properties either held or serviced by SunTrust (“GMHC”) that are subject to the jurisdiction of the Hennepin County District Court or the Court-appointed administrator.
B. That SunTrust will sell 30 certain listed properties at its list price less ten percent discount.
C. That SunTrust has three properties under contract with third parties. In the event those sales do not occur SunTrust will sell to GMHC at ten percent off list price.
D. That SunTrust will sell 15 certain properties when they become available for sale at their list price less twelve percent.
E. That SunTrust shall make a payment of $75,000.00 to the City of Minneapolis; $50,000.00 to be payable to the Housing Maintenance Code Revolving Repair Fund for Tenant Remedies Actions; and, $25,000.00 to be applied toward the Inspection Division for pending or levied special assessments.
F. That SunTrust will agree to dismiss any appeals it has in the above-captioned lawsuit; that Plaintiffs will dismiss their claims against SunTrust but the District Court shall return jurisdiction over certain properties for the sole purpose of ensuring that certain properties not be sold to GMHC shall be remediated of existing code violations prior to sale.
G. That Plaintiffs shall release any notices of lis pendens that were filed in the lawsuit relating to properties owned or serviced by SunTrust.
H. That the City Attorney is further authorized to execute any documents necessary to effectuate the settlement.
I. That the proper City officials are authorized to waive any pending or levied special assessments on properties owned or serviced by SunTrust that are purchased by GMHC. Seconded.
Adopted 10/10/2008.
Absent – Remington, Benson, Glidden.
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I wonder if Steve Brandt will pick this info up and do an article about it? Hmmm I doubt it.
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