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4.2 4.2 ASSESSMENTS\Settle Target—11-19-18 RESOLUTION AUTHORIZING SETTLEMENT OF PROPERTY ASSESSMENT CASES FILED BY TARGET RESOLUTION NO.: , 2018 INTRODUCED BY: WHO MOVED ITS ADOPTION SECONDED BY: WHEREAS, Target ("Petitioner"), filed an Article 7 Real Property Assessment Review case against the Town of Queensbury challenging the 2014 assessment on real property located at 578 Aviation Road, Queensbury, New York (Tax Map Parcel 4302.5-1-92.12), 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 now recommends proposed settlement terms which have been negotiated with Petitioner, and WHEREAS, it is anticipated that the Queensbury Union Free School District will approve the proposed settlement terms, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby authorizes the proposed settlement of the tax assessment case filed by Target for assessment year 2014 as follows: 1) The 2014 assessment challenge shall be discontinued without reduction or refunds. 2) The assessed value for Tax Map Parcel 4302.5-1-92.12 shall be fixed at $3,267,864 for the 2019, 2020, 2021 and 2022 Assessment Rolls. 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 19th day of November, 2018, by the following vote: AYES NOES ABSENT: