224.2011 Article 7 Lowes & Quaker Village
RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7
REAL PROPERTY ASSESSMENT CASES COMMENCED BY QUAKER
VILLAGE DEVELOPMENT CORP. AND LOWE’S HOME CENTERS, INC.
RESOLUTION NO.: 224, 2011
INTRODUCED BY: Mr. Anthony Metivier
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Ronald Montesi
WHEREAS, Quaker Village Development Corp., and Lowe’s Home Centers, Inc.,
(Petitioners) previously commenced Article 7 Real Property Assessment Review cases against the
Town for tax years 2004/05, 2005/06, 2006/07, 2007/08, 2008/09, 2009/10 and 2010/11
concerning the assessment on a parcel of commercial property located at 251 Quaker Road,
Queensbury (Tax Map No.:296.20-1-50.1)), and
WHEREAS, the Town Assessor has recommended a settlement proposal to the Town
Board and the Town Board has reviewed the cases with Town Counsel, and
WHEREAS, the Glens Falls City School District has approved the proposed settlement,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves the settlement of the pending
Article 7 proceedings filed by Quaker Village Development Corp., and Lowe’s Home Centers, Inc.,
(Petitioners) as follows:
ORIGINAL ASSESSED STIPULATED ASSESSED
TAX YEAR VALUATION VALUATION NET REDUCTION
2004/05 $8,729,300 $8,729,300 $0
2005/06 $7,886,400 $7,866,400 $0
2006/07 $9,256,000 $9,256,000 $0
2007/08 $9,256,000 $9,000,000 $256,000
2008/09 $9,256,000 $9,000,000 $256,000
2009/10 $9,256,000 $9,000,000 $256,000
2010/11 $9,256,000 $9,000,000 $256,000
and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs payment of any and all refunds
without interest, unless interest is ordered by the Court or refunds are paid more than forty-five
(45) days after service upon the Warren County Treasurer of the filed Order approving the
settlement, under which circumstances interest shall be paid as ordered by the Court or as
required by law,
BE IT FURTHER,
RESOLVED, that in accordance with Real Property Tax Law (RPTL) §727, the assessment
on the subject property shall be $9,000,000 on the 2011 Assessment Roll and shall remain at
$9,000,000 for the 2012 and 2013 Assessment Rolls unless subject to revision in accordance with the
provisions of RPTL §727, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Town
Assessor, Town Budget Officer and/or Town Counsel to execute settlement documents and take any
additional steps necessary to effectuate the proposed settlement in accordance with the terms of this
Resolution.
th
Duly adopted this 11 day of July, 2011, by the following vote:
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AYES: Mr. Stec, Mr. Metivier, Mr. Montesi, Mr. Strough, Mr. Brewer
NOES: None
ABSENT: None
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