102.97
RESOLUTION AUTHORIZING REFUND OF ESCROW MONIES
AND CLOSURE OF ESCROW ACCOUNT RELATING TO
THE HUDSON POINTE PLANNED UNIT DEVELOPMENT
RESOLUTION NO.: 102.97
INTRODUCED BY: Mrs. Carol Pulver
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Fred Champagne
WHEREAS, the Town Board of the Town of Queensbury previously
entered into an Escrow Agreement with THE MICHAELS GROUP,
developers for the Hudson Pointe Planned Unit Development, so that
the Town of Queensbury could expend monies from the Escrow Account
to pay for engineering services related to Town review of the
Hudson Pointe Planned Unit Development Environmental Impact
Statement (EIS), and
WHEREAS, Hudson Pointe, Inc., has advised the Town that all
engineering services associated with the EIS have been completed
and Hudson Pointe, Inc., therefore has requested that the Town
return all remaining funds in the escrow account to Hudson Pointe,
Inc., and
WHEREAS, James Martin, Executive Director of Community
Development, concurs that all work associated with the EIS and
coinciding Escrow Agreement has been completed,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury, in
accordance with the terms and provisions of the Escrow Agreement
entered into between the Town and The Michaels Group, developers
for the Hudson Pointe Planned Unit Development, hereby authorizes
and directs the Town Comptroller's Office to arrange for the
payment of all funds currently being held in escrow, together with
any accrued interest, to HUDSON POINTE, INC., and that said escrow
account be closed.
Duly adopted this 3rd day of March, 1997 by the following
vote:
AYES : Mr. Turner, Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr.
Champagne
NOES : None
ABSENT: None