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Waiver request submitted by George Favaloro, Lafayette Downtown Development Authority, regarding a $700 late fee assessed for filing his 2015 Tier 2.1 annual pfd 14 days late. |
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Mr. Favaloro explained that when his term ended in 2015, he was not aware of the requirement to file a PFD in 2016- a report that covered calendar year 2015. He further explained that he was affected by the August 2016 flood and had to vacate his home. He stated he returned to his restored to his restored home on August 15, 2017. Mr. Favaloro stated he had no flood insurance and used personal funds to rebuild.
Mr. Favaloro also stated that when he received the NOD, he contacted the Development District office for an explanation of what he was required to do- which took four days to get someone to call him. He also stated that the NOD was received at the same time he was moving back into his house and " ...this notice was lost in the shuffle."
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TYPE OF REPORT: 2015 Tier 2.1 Annual Report
ORIGINAL FILING DATE: May 15, 2016
DATE NOD RECEIVED: August 14, 2017 (personally signed green card)
DATE REPORT FILED: September 6, 2017
DAYS LATE FROM NOD: 14 days
DAYS LATE FROM ORIGINAL DUE DATE: 478 days
ASSESSED LATE FEE: $700
PRIOR OR OUTSTANDING PFD LATE FEES: None
PRIOR OR OUTSTANDING CF LATE FEES: None
OUTSTANDING DISCLOSURE REPORTS: None
PRIOR EXPERIENCE: has filed 8 reports or amendments
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La. R.S. 42:1124.2.1 requires financial disclosure for each member and designee of a board or commission which has the authority to expend, disburse or invest $10,000 or more of funds in a fiscal year on or before May 15th of each year during which the person holds office and the year following termination of the holding of such office.
La. R.S. 42:1124.4
of the Code provides that upon discovery of the failure to file, failure to timely file, omission of information or inaccurate information, the Board shall notify the filer by sending him a notice of delinquency by certified mail. The notice of delinquency shall inform the person that the financial statement must be filed, or that the information must be disclosed or accurately disclosed, or that a written answer contesting the allegation of such failure, omission, or inaccuracy must be filed no later than seven (7) business days after receipt of the notice of delinquency.
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Suspend all based on future compliance with the reporting requirements under the Code of Ethics.
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| Assigned Attorney: |
Tracy Barker |
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