261.2009
RESOLUTION AUTHORIZING RELEASE OF ESCROW FUNDS
IN CONNECTION WITH DEDICATION OF
ESSEX COURT IN SUTTON PLACE SUBDIVISION
RESOLUTION NO.: 261, 2009
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Anthony Metivier
WHEREAS, by Resolution No.: 371,2006 the Queensbury Town Board authorized the
dedication of Essex Court in the Sutton Place Subdivision, such acceptance conditioned on the Town’s
receipt of $23,790 cash escrow from The Michaels Group Development, LLC (Developer), and
WHEREAS, the Developer provided the Town with the required $23,790 and entered into an
Escrow Agreement with the Town, and
WHEREAS, as required by the Escrow Agreement, the Town deposited the $23,790 in an
interest bearing account, and
WHEREAS, the Town’s Highway Superintendent has advised the Town Board that the
Developer has completed, to the Highway Superintendent’s satisfaction, the top coat of the road and has
requested that the monies held by the Town be released, and
WHEREAS, the Town Board wishes to therefore authorize the refund of funds currently held in
escrow to the Developer as required by the Escrow Agreement,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the return of escrow funds to
The Michaels Group Development, LLC in connection with the dedication of Essex Court in the
Sutton Place Subdivision, which sum shall be the amount of $23,790 plus any earned interest, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Budget Officer to
take such other and further action necessary to effectuate the terms of this Resolution.
rd
Duly adopted this 3 day of August, 2009, by the following vote:
AYES : Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier
NOES : None
ABSENT: None