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Arcadia Brewing CEO promises 'good ending' as business faces tax foreclosure

KALAMAZOO, MI -- Two months after a mortgage foreclosure notice was filed for Arcadia Brewing Co., the Kalamazoo brewery is now also one step closer to facing potential tax foreclosure for delinquent 2016 property taxes.

Amid that uncertainty, Arcadia founder and CEO Tim Suprise continues to speak optimistically about strategic partnerships expected to play a role in the brewery’s future.

Unpaid property taxes on Arcadia’s property at 701 E. Michigan Ave. include $5,163.63 assessed in 2016 and another $90,740.20 in 2017, according to the Kalamazoo County Treasurer’s office.

Michigan’s General Property Tax Act lays out the legal process for seizing property with unpaid taxes more than a year delinquent. This process resulted in Arcadia Brewing being placed on the Kalamazoo County list for tax foreclosure in March 2018.

To avoid tax foreclosure, Arcadia must pay $5,332.42, which includes the delinquent 2016 property taxes and a fee of 1.5 percent per month, assessed starting in the second year of tax delinquency, Kalamazoo County Treasurer Mary Balkema said. A final petition for tax foreclosure on the property was filed and a final foreclosure hearing was held Monday, Feb. 4, in Kalamazoo County Circuit Court.

an someone help me with these ratios?

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yes but not less than 1.4 % daily offset of .234.therefore net weight income is 5.44398ag after amortization accumulated in investment assets or turnover of equity...very simple !...Good Luck !