City of Baltimore - File #: 08-0060R

• File #: 08-0060R
• Version: 0
• Name: Informational Hearing - XSPAND - Tax Lien Servicer
• Type: City Council Resolution
• Status: Adopted
• File created: 8/11/2008
• In control: City Council
• Final action: 11/17/2008
• Title: Informational Hearing - XSPAND - Tax Lien Servicer FOR the purpose of inviting XSPAND to make a presentation to the City Council on the services the company offers providing local governments with the resources needed to turn delinquent property tax liens into government revenue.
• Sponsors: Stephanie President Rawlings-Blake, President Young, Sharon Green Middleton, Bill Henry, Nicholas C. D'Adamo, Robert Curran, Warren Branch, Edward Reisinger, Belinda Conaway, Agnes Welch, Rochelle Spector
• Indexes: Resolution, Tax Liens

Date	Ver.	Action By	Action	Result
11/17/2008	0	City Council	Adopted
11/12/2008	0	Taxation, Finance and Economic Development Committee	Recommended Favorably
10/27/2008	0	Taxation, Finance and Economic Development Committee	Scheduled for a Public Hearing
8/14/2008	0	The City Council	Referred for a Report
8/11/2008	0	City Council	Introduced
8/11/2008	0	City Council	Assigned

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: President Rawlings-Blake

A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
Title
Informational Hearing - XSPAND - Tax Lien Servicer

FOR the purpose of inviting XSPAND to make a presentation to the City Council on the services the company offers providing local governments with the resources needed to turn delinquent property tax liens into government revenue.
Body
Recitals

XSPAND purports to be the preeminent property tax lien servicer, financier, and purchaser in the United States. A subsidiary of JP Morgan Chase & Co., Inc., with over $80 billion in total capital, that serves governments, corporations, institutions and individuals worldwide, XSPAND works with local governments to convert their property tax liens to revenue and to implement permanent solutions that place delinquent properties back on the active tax rolls.

Since 1997, XSPAND has assisted local governments in 23 states to realize over $2.6 billion in revenue from the conversion of delinquent property tax receivables into cash, performing services for some of the largest and most sophisticated government entities in the U.S., including the City of New York; the Los Angeles County School Districts; Erie County, NY; Cuyahoga County, OH; Montgomery County, PA; Nassau County, NY; Camden, NJ; Nashville/Davidson County, TN; Kansas City/Wyandotte County, KS; and Allegheny County, PA.

In an initial review of the City’s current...