The leaseholder of city-owned land has paid its delinquent property taxes.

According to a clerk at the Seminole County Tax Collectors office, TFA IV LLC paid $158,371 in property taxes that the Lake Mary-based firm owed for 2013 and 2014. The taxes were owed for land TFA IV leases on Sanford’s Marina Island. The payment was received on June 30.

Sanford City Manager Norton Bonaparte sent a letter to TFA IV managing partner Frank Ceresoli on June1 notifying the company it was in default of its lease, which requires TFA IV “to timely pay all annual ad valorem taxes …”

Ceresoli said the taxes would be paid by July 15.

– by Dan Ping

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