156.2003
RESOLUTION AUTHORIZING ENGAGEMENT OF INDUSTRIAL &
UTILITY VALUATION CONSULTANTS, INC. TO REVIEW
APPRAISALS IN CONNECTION WITH ARTICLE 7 ASSESSMENT
CASES COMMENCED BY PYRAMID COMPANIES
RESOLUTION NO.: 156, 2003
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
,
WHEREAS the Town of Queensbury is engaged in litigation with Pyramid Companies
regarding real property tax assessments on the Aviation Mall for the years 1994 through 2001,
and
,
WHEREAS the amounts in dispute are very substantial and could result in large refunds
to the property owners if the Petitioners prevail in the litigation, and
,
WHEREAS upon the recommendation of the Assessor and Town Counsel this Board
adopted Resolution 311,2001 to retain the firm of Industrial & Utility Valuation Consultants, Inc.
(IUVC) to review the draft appraisal prepared by MDI Associates for the Town’s use in tax
assessment litigation on the Sherman Island Hydroelectric Facilities, and
,
WHEREAS IUVC has reviewed that appraisal and has provided the Town with very
valuable advice and assistance, and
,
WHEREAS the Assessor and Town Counsel recommend that IUVC also be retained to
review the appraisal prepared for the Town in the tax assessment litigation against Pyramid
Companies on the Aviation Mall, as well as the appraisal submitted for trial by Pyramid
Companies, and
,
WHEREAS IUVC’s fee for appraisal review would be $175 per hour and it is estimated
that the time necessary for review of the two appraisals would total approximately four to six
hours, and
WHEREAS, Counsel for the Queensbury Union Free School District will recommend
that the School District similarly authorize review of the appraisals by IUVC, with the cost of
such review to be divided evenly between the Town and the School District, and
WHEREAS, the School District’s Counsel fully anticipates that the School Board will
authorize IUVC to perform the appraisal reviews under such arrangement with the Town,
NOW, THEREFORE, BE IT
,
RESOLVED that the Queensbury Town Board hereby authorizes engagement of the
services of Industrial & Utility Valuation Consultants, Inc. (IUVC) to review appraisals prepared
for the Town and Pyramid Companies for the trial of tax assessment litigation on Aviation Mall,
with IUVC’s fees for such services to be $175 per hour, which costs are to be shared equally by
the Town and the Queensbury Union Free School District, and with the Town’s share of such
costs not to exceed $700 without the Town Board’s prior approval, to be paid for from Account
No.: 001-1355-4740, Assessor’s Dept., Article 7, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Assessor,
Town Counsel and/or Town Supervisor to take any action necessary to effectuate the terms of
this Resolution.
th
Duly adopted this 10 day of March, 2003, by the following vote:
AYES : Mr. Boor, Mr. Turner, Mr. Stec, Mr. Brewer, Mr. Brower
NOES : None
ABSENT: None