214.2012 Article 7 Pyramid Co. RESOLUTION AUTHORIZING SETTLEMENT OF PENDING
ARTICLE 7 REAL PROPERTY ASSESSMENT CASES
COMMENCED BY PYRAMID COMPANIES
RESOLUTION NO.: 214,2012
INTRODUCED BY: Mr. Ronald Montesi
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Tim Brewer
WHEREAS, Pyramid Companies (Petitioner) owns nine (9) parcels of property that comprise
most of the Aviation Mall and former Howard Johnson's Motel, located on Aviation Road, Town of
Queensbury, and
WHEREAS, Petitioner's nine (9) parcels are identified by the following Tax Map Identification
Numbers:
• 302.5-1-92.2
• 302.5-1-92.4
• 302.5-1-92.11
• 302.5-1-93.2
• 302.5-1-96.2
• 302.9-1-45
• 302.9-1-46
• 302.5-1-93.1
• 302.5-1-96.1
(hereinafter the"Parcels"), and
WHEREAS, Petitioner previously commenced Article 7 Real Property Assessment Review
cases in 2008, 2009, 2010 and 2011 against the Town of Queensbury concerning the assessments on
certain of the Parcels, and
WHEREAS, the Town Assessor has reviewed the cases with Town Counsel and the Assessor
has recommended a settlement proposal to the Town Board, and
WHEREAS, counsel for the Queensbury Union Free School District advises that District
officials will recommend that the School Board approve 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 Pyramid Companies such that the combined total of the assessments
on the above-referenced Parcels shall be reduced from the current amount of$31 million to $20.2
million on the Assessment Rolls for 2012, 2013, 2014, 2015 and 2016, subject to the exceptions
provided for in Real Property Tax Law §727, in exchange for Petitioner's agreement to
discontinue all pending litigation and withdraw all demands for refunds and interest, and
BE IT FURTHER,
RESOLVED, that the Town Board 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.
Duly adopted this 16'h day of July, 2012 by the following vote:
AYES: Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier
NOES: None
ABSENT: None