CBID III sues for unpaid assessments

The improvement district comprising 42 Central Avenue parcels from Prospect Avenue to Market Street is suing its largest constituent for unpaid 2017 assessments, according to a lawsuit filed last week in Garland County Circuit Court.

The Central Business Improvement District III filed a claim against Shiloh Place Manor LLC for $25,925 in unpaid regular assessments and penalties and $6,703 in unpaid maintenance assessments and penalties on its property at 835 Central Ave. The Bella Vista LLC purchased the commercial office building that was the former headquarters of Arkansas Bank and Trust Co. in 2015.

The property has the district’s largest debt service and maintenance assessments. The city said the district issued debt to finance more than $2.3 million of capital improvements to the streetscape subsequent to its 2002 formation. The improvements included underground utility lines, benches, landscaping and decorative lighting and signage.

The city said in January that the district will levy $86,242 this year to service the debt. The Hot Springs Board of Directors autho-

rized the district in January to levy $22,300 to pay the city for maintaining the improvements. According to the complaint, the LLC owns one of the district’s six parcels with unpaid 2017 assessments.

The Garland County tax collector’s office included 835 Central Ave.’s four parcels in the list of properties with delinquent 2016 real estate taxes. According to the delinquency list The Sentinel-Record published in December, the four parcels had more than $38,000 in unpaid property taxes for the 2016 tax year.

The list included a Grand Isle Drive apartment that was part of the $4.8 million real estate transaction that deeded 835 Central Ave. to the LLC in June 2015.

The LLC is affiliated with Concordia Care Center Nursing Home in Bella Vista, according to Benton County property records.