Kaneb Terminals
June 30, 2005
To Whom It May Concern:
It has been my pleasure to work with Gerald Harmon of Recovery & Compliance Tax Services (R&C) for almost three years in real and personal property tax matters for the ST Services/Kaneb terminals.
I recommend the services provided by R&C because of their success in reducing property tax liabilities, excellent valuation skills and multi-state knowledge of assessment practices, rules and regulations. R&C has established and maintains excellent relationships with numerous state and county assessor's which provides for quick and usually favorable property tax resolutions. Compared to other consultants we have used in the past, R&C provides the best on time service, superior reductions in property tax liabilities while preserving a positive relationship with all taxing and collecting authorities.
Please don't hesitate to call me if you would like additional information.
Yours truly,
D. Walter Matich
Director - Real Estate
Kaneb Terminals
June 30, 2005
To Whom It May Concern:
Gerald Harmon of Recovery & Compliance Tax Services (R&C) has represented Support Terminals Operating Partnership, L.P., StanTrans Partners, L.P., ST Linden Terminal, LLC, Support Terminal Services, Inc., Shore Terminals LLC, ST/Center Chillicothe Terminal LLC and Kaneb Pipe Line Operating Partnership, L.P. collectively doing business as ST Services / Kaneb Terminals and has done an excellent job.
Gerald has represented our company beginning in 1993 when we had 20 bulk storage terminals nationally growing to a final terminal count of 46 worldwide when the Kaneb operations were acquired by Valero LP in July of 2005.
In the thirteen years of representation, Gerald has saved our company in excess of 10 million dollars and has virtually been our property tax department. He has provided exceptional service with no late filing/non-compliance penalties or late payment tax bill fees. R&C has handled all aspects & responsibilities associated with our ad valorem tax concerns and has done an excellent job.
Sincerely,
Jane Todaro
Controller
Kaneb Terminals
June 30, 2005
To Whom It May Concern:
Ultimately, Recovery & Compliance Tax Services (R&C) has increased our company's profits by controlling or reducing costs. Due to the substantial tax savings identified by R&C, our company has always viewed their services as a revenue stream. It is almost as if R&C was paying Kaneb a fee to represent our property.
I have worked directly with Gerald Harmon of R&C for 13 years beginning in 1993. A major advantage of outsourcing the property tax function to R&C was the ability to hand over the burden / problem to a trusted professional. We have had no missed deadlines or delinquent tax issues during the entire period of R&C's representation. Kaneb was able to avoid spending many in-house hours in the research, analysis, and supervision process not to mention the lack of industry knowledge and contacts on our part. A near full-time highly skilled employee would have been necessary to perform these duties in-house due to the number of facilities being handled. The man hours saved, cost savings of not employing such a person plus the tax savings contributed by R&C made this an easy decision to make.
Regards,
Phil Lewis
Vice President - Finance
