241.2001
RESOLUTION AUTHORIZING ASSIGNMENT OF OPTION TO
PURCHASE 10 ACRE PARCEL IN INDIAN RIDGE PLANNED UNIT
DEVELOPMENT TO QUEENSBURY UNION FREE SCHOOL DISTRICT
RESOLUTION NO.: 241, 2001
INTRODUCED BY: Mr. Daniel Stec
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. James Martin
WHEREAS, by Town Board Resolution No.: 97,2000 the Queensbury Town Board
authorized the Indian Ridge Planned Unit Development Agreement (PUD Agreement) between the
Town of Queensbury and Thomas J. Farone & Son, Inc., (Developers), and
WHEREAS, as part of the PUD Agreement, the Developers agreed to grant the Town an
option to purchase a ten (10) acre parcel of land located near the Queensbury School within the PUD,
and
WHEREAS, the Town and Queensbury Union Free School District (School) wish to have the
option to purchase assigned to the School with the understanding that the School will own and use the
property in accordance with any terms and conditions set forth in the PUD Agreement, and
WHEREAS, an Assignment of Option providing for this transaction has been presented at this
meeting and is in form approved by Town Counsel,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board hereby approves and authorizes the assignment of option
to purchase a ten (10) acre parcel of land located near the Queensbury School within the Indian Ridge
Planned Unit Development to the Queensbury Union Free School District with the understanding that
the School will own and use the property in accordance with any terms and conditions set forth in the
Planned Unit Development Agreement entered into between the Town and Thomas J. Farone & Son,
Inc., as authorized by Town Board Resolution No.: 97,2000, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to
execute the Assignment of Option substantially in the form presented at this meeting along with any
and all documents necessary to complete this transaction and take such other and further action as may
be necessary to effectuate the terms of this Resolution.
th
Duly adopted this 4 day of June, 2001, by the following vote:
AYES : Mr. Brower, Mr. Martin, Mr. Turner, Mr. Stec,
NOES : None
ABSENT:Mr. Brewer