These have been tough times, financially speaking, for the business interests of the family of Jacksonville City Councilwoman Katrina Brown.
Last week, the city of Jacksonville won what is essentially a worthless default judgement of $222,000 against two businesses owned by the Councilwoman’s family (with the Councilwoman as title manager) related to a failed BBQ sauce plant; the Browns failed to create any of the 56 jobs required, via a 2011 economic development agreement.
The Browns’ companies scored $640,000 from the city of Jacksonville in grants and loans, in addition to an SBA loan of $2,652,600. The property and other assets being liquidated won’t match that SBA number, leaving the city in a position of being frustrated in clawback attempts no matter what, as Jacksonville holds secondary position on payout.
However, it’s not just governments that are getting stiffed by Brown; private lenders are also, including the one that holds the note on the 2006 Porsche Cayenne SUV Brown typically drives to City Hall.
That lender wants its car back, documents acquired by Florida Politics Thursday reveal.
This week, creditor Ally Financial filed a motion for relief in the U.S. Bankruptcy Court Middle District of Florida against “KJB Specialties” — yet another Brown shell company that has filed for bankruptcy. [Document: Katrina Brown Vehicle Relief from Stay]
The motion contends that Ally Financial holds a “security interest” in the Porsche, that upwards of $14,000 is owed on the 2006 SUV valued at just over $12,000, and that the lender has not been paid since January.
The lender wants its money, and seeks to “accelerate the balance due,” with an eye toward repossessing and foreclosing on the vehicle.
Total defaults stand at over $3,300.
An affidavit from a bankruptcy agent for Ally states that, in addition to not being able to get paid since January, the lender also does not know if Brown has required insurance on the vehicle.
Councilwoman Brown, a member of the Jacksonville City Council Finance Committee, is gearing up for a three-week deliberation of the city’s $1.27B general fund budget starting next week.
Likely, she will be in City Hall for that.
But she may need a ride to get there.