337.2003
RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7
REAL PROPERTY ASSESSMENT CASES COMMENCED BY
ADIRONDACK FACTORY OUTLET CENTER, INC.
RESOLUTION NO.: 337. 2003
INTRODUCED BY: Mr. Roger Boor WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Tim Brewer
WHEREAS, the Adirondack Factory Outlet Center, Inc. previously commenced Article 7
Real Property Assessment Review cases against the Town of Queensbury for tax years 1995/96
through 2002/03 concerning assessments on the factory outlet retail center located on two parcels
on the east side of Route 9 in the Town of Queensbury (Tax Map Nos.: 36-1-29 and 36-1-28 for
1995 through 2000 and Tax Map No.’s: 288.12-1-22 and 288.12-1-23 for 2001 to present), 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, the Lake George Central School District has not intervened in these cases
and has indicated that it will accept a settlement approved by the Town Board,
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 the Adirondack Factory
Outlet Center, Inc., for the 1995/96 through 2002/2003 tax years concerning assessments on the
factory outlet retail center located on two parcels on the east side of Route 9 in the Town of
Queensbury (Tax Map No.’s: 36-1-29 and 36-1-28 for 1995 through 2000 and Tax Map No.’s:
288.12-1-22 and 288.12-1-23 for 2001 to present) in accordance with the following revised
combined assessment values:
Current Revised
Tax Year Assessment Assessment
1996/97 $4,500,000 $4,200,000
1998/99 $4,500,000 $4,200,000
1999/00 $4,500,000 $4,000,000
2000/01 $4,500,000 $3,900,000
2001/02 $4,500,000 $3,800,000
2002/03 $4,500,000 $3,600,000
and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs payment of any and all refunds
without interest to the Adirondack Factory Outlet Center, Inc., within thirty (30) days from the
date that a Demand for Refunds is served upon the Town of Queensbury, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor,
Town Assessor 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.
st
Duly adopted this 21 day of July, 2003, by the following vote:
AYES : Mr. Brewer, Mr. Brower, Mr. Boor, Mr. Turner, Mr. Stec
NOES : None
ABSENT: None