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3.17 3.17 ASSESSMENTS\\Settle NMM Associates – 6-17-19 RESOLUTION AUTHORIZING SETTLEMENT OF PROPERTY ASSESSMENT CASES FILED BY FILED BY NMM GLENS FALLS ASSOCIATES, LLC RESOLUTION NO.: _____________________________________________________, 2019 INTRODUCED BY: _____________________________________________________ WHO MOVED ITS ADOPTION SECONDED BY: ______________________________________________________ WHEREAS, NMM Glens Falls Associates, LLC (“Petitioner”), filed Article 7 Real Property Assessment Review cases against the Town of Queensbury challenging the 2015, 2016, 2017 and 2018 assessments on real property located at 160 Cronin Road, Queensbury, New York (Tax Map Parcel #297.17-1-17), 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, the Town Board understands that the Queensbury Union Free School District’s Board of Education has approved the proposed settlement terms, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the proposed settlement of the tax assessment cases filed by NMM Glens Falls Associates, LLC as follows: 1) The 2015, 2016, 2017 and 2018 assessment challenges shall be discontinued without reduction or refunds; 2) The assessed value for Tax Map Parcel #297.17-1-17 shall be fixed at $11,400,000 for the 2019, 2020, 2021 and 2022 Assessment Rolls unless the property is further improved or the assessment is subject to some other exception under Real Property Tax Law Section 727; 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. th Duly adopted this 17 day of June, 2019, by the following vote: AYES : NOES : ABSENT: