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325.2008 RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7 REAL PROPERTY ASSESSMENT CASES COMMENCED BY ROBERTS GARDENS NORTH RESOLUTION NO.: 325, 2008 INTRODUCED BY: Mr. Anthony Metivier WHO MOVED ITS ADOPTION SECONDED BY: Mr. Tim Brewer WHEREAS, Roberts Gardens North (“Petitioner”), previously commenced Article 7 Real Property Assessment Review cases against the Town in 2005, 2006 and 2007 concerning the assessment on its apartment-complex property located on Weeks Road in Queensbury (Tax Map No.: 296.17-1-41) 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, counsel for the Queensbury Union Free School District advises that the District’s administrative officials endorse the proposed settlement and will recommend approval by the School Board and such approval is anticipated, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the settlement of the pending Article 7 cases against the Town of Queensbury brought by Roberts Gardens North challenging the 2005, 2006, and 2007 assessments on its property, which will result in revised assessments as follows: Assessment Current Revised Year Tax Map No. Assessment Assessment 2005 296.17-1-41 $8,311,000 $7,700,000 2006 296.17-1-41 $8,311,000 $7,700,000 1 2007 296.17-1-41 $8,311,000 $7,700,000 and BE IT FURTHER, RESOLVED, that the Town Board authorizes and directs payment of any and all refunds without interest to Petitioner within sixty (60) days from the date that a Demand for Refunds is served upon the Town, and BE IT FURTHER, RESOLVED, that in accordance with New York State Real Property Tax Law §727, the assessments on the parcel, Tax Map # 296.17-1-41, shall remain at $7,700,000 for the next three years (2008, 2009 and 2010) unless the Town performs a Town-wide revaluation or some other exception provided for under §727 becomes applicable to the property for the assessment rolls for those years, 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 16 day of June, 2008 by the following vote: AYES: Mr. Brewer, Mr. Stec, Mr. Metivier, Mr. Montesi NOES: Mr. Strough ABSENT:None 2