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303.2000 RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7 REAL PROPERTY ASSESSMENT CASE COMMENCED BY NMM GLENS FALLS ASSOCIATES RESOLUTION NO.: 303, 2000 INTRODUCED BY: Mr. Tim Brewer WHO MOVED ITS ADOPTION SECONDED BY: Mr. Daniel Stec WHEREAS, NMM Glens Falls Associates (NMM) has commenced Article 7 Real Property Assessment Review cases against the Town of Queensbury for the 1997, 1998, 1999 and 2000 assessment years, and WHEREAS, the Town Assessor has recommended a settlement proposal to the Town Board and the Town Board has reviewed this case with Town Counsel, and WHEREAS, the Queensbury Union Free School District has been informed of the proposed settlement and the School District has advised that it has no objection, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves of settlement of the pending Article 7 cases against the Town of Queensbury by NMM Glens Falls Associates (NMM) for the 1997, 1998, 1999 and 2000 tax years in accordance with the following revised assessment values: Parcel - Tax Map No.: Tax Years: Revised Assessment Regency Park Apartments 1997, 1998 $5,000,000 Meadowbrook Road Queensbury, New York 12804 59-3-1.22 " 1999 $5,400,000 " 2000 $6,000,000 and BE IT FURTHER, RESOLVED, that any refunds paid to NMM a result of this settlement shall be without interest so long as the refunds are paid to NMM within 90 days of service of the Order of Settlement, 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. th Duly adopted this 24 day of July, 2000, by the following vote: AYES : Mr. Stec, Mr. Brewer, Mr. Martin, Mr. Turner, Mr. Brower NOES : None ABSENT: None