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I like the concept of the independent body. We need to look at what the independent review will <br />look for, so that everyone knows ahead of time what will be reviewed. <br />If you've ever missed your date on a license renewal, there are proportionate fees. It is usually <br />two (2) or three (3) times the original fee. If the regular fee is five (5) dollars, and if you miss it <br />you have to pay three- hundred (300) dollars, that's a concern for me. <br />Councilmember Randy Kelly stated for the record that he and his wife are landlords, and they <br />have an LLC. <br />Bob Masters from the public stood up and asked if the public would have time for input, and <br />Committee Chair Voorde received permission from Dr. Varner, Committee Chair of the Utilities <br />Committee to cut into the next meeting. <br />The Council clarified that the others who spoke were speaking as part of the official presentation, <br />and then the committee members will get a chance to speak before they open it up to the rest of <br />the council members then to the public. Committee Chair Voorde decided to allow the public to <br />speak, then allow the rest of the Council to discuss. <br />Bob Masters, Attorney with Nemeth, Feeny, Masters and Campiti, offices at 350 Columbia <br />Street, speaking to you on behalf of the Real Estate Investors Association of North Central <br />Indiana. The first concerns the fact that many real estate properties are owned by LLC's. This is <br />usually done out of a liability issue or a tax concern. Personally, I've probably created between <br />thirty (30) to fifty (50) LLCs for clients who own real estate. The way it's been discussed, there <br />is an implication that it is somehow illegitimate, owning real estate through an LLC. It's not. <br />Every LLC in Indiana is required to have a registered agent listed with the Secretary of State <br />who is either an Indiana corporation or an Indiana natural person. The office of that registered <br />agent has to be the same address as the principal place of the company's business, meaning that <br />if you own 700 Forest Avenue, LLC, and your principal place of business is 700 Forest Avenue, <br />that's where your registered agent has to be. Corporations that are out of state are required to <br />obtain a certificate from the Secretary of State and register as a foreign corporation in order to do <br />business in the state. They also have to provide an in -state registered agent. That registered <br />agent has to provide an address, and it cannot be a P.O. Box, state law makes that clear. It must <br />be a physical address in the state of Indiana. <br />There was a relatively recent change to Indiana law, which requires that when you create an LLC <br />or a corporation, you have to include a statement that the registered agent agrees to accept <br />service. <br />Indiana law states that if you cannot find a person or a business in the state of Indiana, the <br />Secretary of State is considered their agent, and you can serve the Secretary of State. The <br />Unsafe Building Law doesn't even require you to do that. The Unsafe Building Law says you <br />only have to make a reasonable effort to find these people, and if you can't, you can publish <br />notice in a newspaper. I wish I could have talked to you about this property that's been giving <br />your neighbors problems, because I could have told you how to go after them and set them up in <br />a legally unimpeachable way to vacate and seal the building or take it down if it's a problem. <br />0 <br />