There is a reason a developer/owner starts moving membership interest around inside an LLC.
Seems quite a shell game
When you see a wife being named "after" the LLC was created, it can mean the family either has a need to remove a member who is at risk of having his/her interest attached or has an estate restructuring need. Without a copy of the "current" LLC's Operating Agreement, one doesn't really know who the current members are, or what percentage of the investment they hold.
Note the date (2022) this amendment was created.
It's common to see a property investment get behind on property taxes for two reasons. First, it isn't meeting the rent-up requirements or "stabilization" or the owner is taking the cash flow to pay other bills outside the project that have nothing to do with the property. Example: Robbing Peter to pay Paul. If you read the press release, notice how they stated the property is "on track" to reach its annual income forecast.
This statement is a bit odd, given they have to highlight "forecasted" rent. As opposed to a PR saying "we just acquired a $37M Mix Use housing project". By breaking out rental income, he provided the market a means to verify the lack of value in the appraisal.
Given the CEOs past financial issues would tend to support that the LLC withheld the tax payments and is now passing them onto SPOOZ shareholders. After all, an 18% interest penalty on $440,000 when there are ways to finance this tax bill for someone who doesn't have financial issues is available at much lower rates.
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