400.2002
RESOLUTION AMENDING RESOLUTION No. 339, 2001 AND
RESCINDING RESOLUTION No. 320, 2001 IN CONNECTION WITH
ARTICLE 7 TAX ASSESSMENT CASES COMMENCED
BY PYRAMID COMPANIES, INC.
RESOLUTION NO.: 400, 2002
INTRODUCED BY: Mr. Theodore Turner
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Daniel Stec
,
WHEREAS the Town of Queensbury is engaged in litigation with Pyramid Companies,
Inc., (Pyramid) regarding real property tax assessments on the Aviation Mall (Mall) for the years
1995 to 2001, and
,
WHEREAS the total assessed value of the Mall for each of the years in question is
approximately $45,000,000 and the tax amounts in dispute are very substantial and could result
in large refunds to the property owners if Pyramid prevails in the litigation, and
,
WHEREAS the Queensbury Town Board previously adopted Resolution No. 339, 2001
authorizing Empire State Appraisal Consultants, Inc. (ESAC) to prepare an appraisal of the Mall,
and
WHEREAS, the Town Board also previously adopted Resolution No. 320, 2001
authorizing ESAC to retain Leonard Vona, CPA, CFE, to perform an audit of Pyramid’s
accounts and financial records in order to assure the reasonable accuracy of the appraisals to be
produced by ESAC, and
,
WHEREAS Resolution No. 320 authorized the Town to pay up to $2,400 of the cost of
Mr. Vona’s audit of Pyramid’s accounts and financial records, and
,
WHEREAS due to unforeseen circumstances which arose during the course of the audit,
the Town’s 50% share of the cost of the audit was $4,433.49, and
WHEREAS, Mr. Vona delivered his audit report to ESAC and ESAC found it competent,
satisfactory and useful and has incorporated it into ESAC’s appraisal of the Aviation Mall
property, and
WHEREAS, the Town’s $4,433.49 share of the audit cost was properly billed through
ESAC but was mistakenly paid under authorization provided in Resolution 339, 2001 for
appraisal fees, and
WHEREAS, the Queensbury Union Free School District has approved payment of its
$4,433.49 share of the audit expense,
NOW, THEREFORE, BE IT
,
RESOLVED that the Queensbury Town Board hereby rescinds Resolution No. 320,
2001 which separately authorized an audit in the matter referenced in the preambles of this
Resolution, and
BE IT FURTHER,
RESOLVED, that the Town Board further amends Resolution No. 339, 2001 authorizing
preparation of an appraisal, to incorporate approval for the audit of Pyramid’s financial records
previously conducted by Leonard Vona, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs that the total authorized
expense to the Town under Resolution 339, 2001 be increased from $14,000 to $18,433.49,
which includes the $4,433.49 expense for the audit already performed by Mr. Vona, and
BE IT FURTHER,
,
RESOLVED that the Town Board further authorizes and directs the Town Assessor,
Town Comptroller and/or Town Supervisor to take any action necessary to effectuate all terms of
this Resolution.
th
Duly adopted this 7 day of October 2, 2002, by the following vote:
AYES : Mr. Stec, Mr. Brewer, Mr. Brower, Mr. Boor, Mr. Turner
NOES : None
ABSENT : None