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3.11 3.11 ASSESSMENTSMorgan Olde Coach Settlement—5-2-16 RESOLUTION AUTHORIZING SETTLEMENT OF PROPERTY ASSESSMENT CASE FILED BY MORGAN OLDE COACH, LLC RESOLUTION NO.: ,2016 INTRODUCED BY: WHO MOVED ITS ADOPTION SECONDED BY: WHEREAS, Morgan Olde Coach, LLC ("Petitioner"), filed an Article 7 Real Property Assessment Review case against the Town of Queensbury in 2015 challenging the 2015 assessment on its property located at 565 Bay Road, more specifically identified by its Tax Map Number: 296.11-1-45, and WHEREAS, it appears to be in the best interests of the Town to avoid the significant costs that would result if the litigation continues and goes to trial, and WHEREAS, the Town Assessor recommends proposed settlement terms which have been negotiated with Petitioner; and WHEREAS, it is anticipated that the Queensbury Union Free School District will accept the proposed settlement terms, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the proposed settlement of the assessment case filed by Morgan Olde Coach, LLC for 2015 as follows: 1) The Proceeding challenging the 2015 assessment shall be discontinued without refunds; and 2) The assessed values for the 2016, 2017 and 2018 assessment years shall be set at $3,000,000; and BE IT FURTHER, RESOLVED, that approval of this Settlement Agreement is contingent upon Town Counsel's review and approval of the Stipulation of Settlement and Order, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Town Assessor, Town Clerk 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 2"d day of May, 2016, by the following vote: AYES NOES ABSENT: