From the Orlando Sentinel:
Orange County mayoral candidate Matthew Falconer owes $64,000 in delinquent property taxes to Osceola and Lee counties, records show, but the commercial real-estate investor said Friday he was unaware of any unpaid tax bills...
The properties in question are a Vine Street strip mall in Kissimmee assessed at $1.7 million in 2009, with $42,853 in taxes owed, and vacant land in Fort Myers assessed at $1.1 million, with $21,122 owed in 2009 taxes.
Falconer, who has campaigned on the promise of fiscal conservatism, drew fire from opponent Teresa Jacobs, who asked if he is "really running because he cares about public service or because he needs a job?"
The article also discusses a PAC called "Concerned Citizens of Orange County," which is backing Bill Segal and attacking Teresa Jacobs and Linda Stewart. This group has been sending out attack mailers, and a robocall which I received today that falsely called Jacobs a lobbyist.
I strongly disagree with the statements by Segal's spokesman, Josh Wilson, attempting to defend their false attack on Jacobs. Wilson justifies calling Jacobs a lobbyist because her employer "touted [her] political skills" on its website, saying, "[i]f a lobbyist is not one who uses political skills, then who does?"
What a moron. Josh, words have meaning. You can't just decide to make up your own definitions. "Lobbyist" is a specific term with a specific legal meaning. Teresa Jacobs is not, and has never been, a lobbyist for FDOT (as Falconer has falsely claimed), her current employer (as Segal's backers are now falsely claiming), or anyone else either. Josh, you apparently think you have political skills, are you a lobbyist?
Let's be clear. Teresa Jacobs has never been a lobbyist. She's also never been a Olympic synchronized swimmer or a ninja or a pomegranate whatever other silly things one could imagine.
It really says a lot about Teresa Jacobs' opponents that the only way they can attack her is to misrepresent her positions, distort her record, or just make up flat out lies. Every day this campaign goes on just further cements my opinion that Teresa Jacobs is hands-down the best choice to represent my hometown community as our Orange County Mayor.
Falconer's lying about not knowing his property taxes were unpaid.
ReplyDeleteBefore tax certificates are sold in Florida, the taxpayer receives multiple notices and opportunities to pay up. Tax collector records in both Osceola County and Lee County have Falconer's correct business address listed for all notices.
Falconer also snowed Sentinel reporter Dave Damron with his explanation that his lender screwed up by not paying his taxes. As Falconer well knows, commercial borrowers, unlike residential borrowers, almost always pay their own property taxes directly. They're not escrowed like they typically are for home loans.
And Falconer's mortgages on these properties (Kissimmee Equities in Osceola County and Estero Equities in Lee County)both contain provisions requiring the borrower to pay property taxes.
Unfortunately, Damron wasn't knowledgeable or assertive enough to push back on this point. (Falconer has been exploiting a weak local media for far too long--he just makes it up as he goes and no one calls him on it.)
Now here's the next shoe likely to drop: The Lee County property is one of four properties covered by a mortgage held by Regions Bank. In March 2009 (the same month in which Falconer panicked and deeded his house to his wife), Regions forced Falconer to consolidate his four loans with Regions Bank.
This consolidation was accomplished through an instrument called a "mortgage spreader agreement," which cross-defaulted and cross-collaterlaized his four Regions loans.
Thus, his failure to pay his property taxes on his Estero property will cause a default under his loan documents on that property, which will automatically trigger a default under his three other Regions loans. Just like Dominoes.
And finally, Regions required Falconer to personally guarantee all four loans. (Before the financial meltdown in late 2008, established developers like Falconer could could often obtain nonrecourse loans under which there is no personal liability.)
It's fascinating to watch the rich fall. At first, it's like an old roller coaster slowly crawling uphill, clickety-clack until it finally reaches the top. And then it pauses for a brief second before it plunges down at breakneck speed, terrorizing everyone on board.
Enjoy the ride, Matt.
Just wanted to say that I cannot verify right now the above post, but based on my knowledge of commercial real estate law and lending practices, it sounds possible. If someone else has anything to add, please post it or email me...likewise, if Falconer can show anything refuting the above information, send it to me and I'll post that too.
ReplyDeleteHis property in Lee County "Estero Equities, LLC" just went into foreclosure.
ReplyDeleteDocument Type: (LP) Lis Pendens
Modified Date: 9/23/2010 6:32:13 PM
Record Date : 9/23/2010 6:28:03 PM
Event Date : Not Available
Plaintiff: REGIONS BANK
Defendant: ESTERO EQUITIES LLC
FALCONER MATTHEW J
VINES COMMUNITY ASSOCIATION INC
Book Type: O
Book / Page: 0 / 0
# of Pages: 2
Consideration: 0.00
Comments
Legal: VINTAGE GOLF AND COUNTRY CLUB, PT TRACT E
Address:
Case Number: 36-2010-CA-058856--
Falconer also as no one knows enlisted a money person to forward capitol and is in violation or IRS regs- also no one know he has developed other sites in Colorado and has all you fooled-some one should look into him and follow the money and that will land him in jail. Hope OS will look into this
ReplyDeleteCompanies:
ReplyDelete436 Equities LLC
535 Equities, LLC
Bass Equities, LLC
Brighton Equities, LLC
Broomfield Equities, LLC
Bushnell Equities, LLC
Centerscape Maintenance, LLC
Defuniak Equities, LLC
Dunnellon Equities, LLC
Estero Equities, LLC
Evans Equities, LLC.
F C Equities, LLC
Falcon Aviation LLC
Falcon Development Advisors, Inc.
Gainesville Equities, LLC
Hc Equities, LLC
Kissimmee Equities, LLC
Malibu Construction, LLC
Melbourne Equities, LLC
National Semi-Trailer Corp.
Ocoee Equities, LLC
Pronto Pizza Cucina, LLC
Quincy Equities, LLC
Rlmf Equities, LLC
Silver Springs Equities, LLC
St. Cloud Equities, LLC
This came up as possible LLC assoc and this is part of perhaps his role in washing funds from investors on private backdoor deals to avoid claiming interestpaid by Falconer -I have been told this is how he has developed the volume of properties by using private parties to forward the front funds to secure loans
Osceola County Tax CollectorNotice of Ad Valorem Taxes and Non-ad Valorem Assessments
ReplyDeleteAccount number Alternate key Escrow code Millage code
R192529-103700010030 1087224 — 200
Pay this bill: $42,853.04
DELINQUENT TAXES MUST BE PAID BY CASH, CASHIER'S CHECK OR MONEY ORDER AND ARE DUE BY THE LAST BUSINESS DAY OF THE MONTH
Print this bill (PDF)
Owner
KISSIMMEE EQUITIES LLC
4201 VINELAND RD STE I-14
ORLANDO, FL 32811 ONLY CASH, CASHIER'S CHECK OR MONEY ORDER ACCEPTED
Situs address
4342 W VINE ST
Legal description
BASS 192 PB 18 PG 6 LOT 3
Osceola County Tax CollectorNotice of Ad Valorem Taxes and Non-ad Valorem Assessments
ReplyDeleteAccount number Alternate key Escrow code Millage code
R022528-285500010010 1006692 — 300
Pay this bill: $65,779.20 Print this bill (PDF)
Owner
535 EQUITIES LLC
4201 VINELAND RD STE I-14
ORLANDO, FL 32811 Situs address
3260 VINELAND RD
Legal description
CALYPSO CAY COMMERCIAL PHASE II PB 18 PG 43 LOT 1
You provide a great service as those that will look begin to question as other post show. MF has went outside the scope of legal business dealings and has pergured himself on documents submitted and transfers or title -Problem is that no one will look into this as it has not recieved enough press to warrant investigation. The IRS should be the first on line follow the money as he relizes and has removed himself as even with homestead certain frauds can be a disaster for him- Keep on this guy as someone may put some time into exposing him and making him accountable for his ill ways
ReplyDeleteMatthew is getting his Shopping centers foreclosed on and recent knowledge of his affair with a young male supporter has his wife soon to file for divorse-with nothing left but his hairpiece and ego Falconer will be on OBT turning tricks for food -
ReplyDelete