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123.2021 Authorizing Settlement of Property Assessment Cases Filed by NCA of QU Real Estate Holdings RESOLUTION AUTHORIZING SETTLEMENT OF PROPERTY ASSESSMENT CASES FILED BY NCA OF QU REAL ESTATE HOLDINGS, LLC RESOLUTION NO.: 123, 2021 INTRODUCED BY: Mr. Anthony Metivier WHO MOVED ITS ADOPTION SECONDED BY: Mr. George Ferone WHEREAS, NCA of QU Real Estate Holdings, LLC (“Petitioner”), filed Article 7 Real Property Assessment Review cases against the Town challenging the 2017, 2018, 2019 and 2020 assessments on real property located at 6 Willowbrook Road, Queensbury, New York (Tax Map Parcel #296.12-1-30), and WHEREAS, it appears to be in the best interests of the Town to avoid the significant costs that would result if the litigation continues and goes to trial, and WHEREAS, the Town Assessor now recommends proposed settlement terms which have been negotiated with Petitioner, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the proposed settlement of the tax assessment cases filed by NCA of QU Real Estate Holdings, LLC for assessment years 2017, 2018, 2019 and 2020 as follows: 1) The 2017 and 2018 Proceedings shall be discontinued without reduction of the assessments or refunds; and 2) The 2019 and 2020 assessments shall be reduced as follows: Assessment Assessed Value Reduced Reduction Year Assessed Value Amount 2019 $842,000 $805,050 ($36,950) 2020 $842,000 $796,105 ($45,895) 3) Refunds shall be paid based on the 2019 and 2020 assessment reductions and shall be paid without interest provided they are paid within sixty (60) days after Petitioner serves a copy of the filed Court Order approving the settlement; and 4) The assessed value for Tax Map Parcel #296.12-1-30 shall be fixed at $796,105 for the 2021, 2022 and 2023 Assessment Rolls pursuant to Real Property Tax Law Section 727; and BE IT FURTHER, RESOLVED, that approval of this settlement agreement is contingent upon Town Counsel’s review and approval of the Stipulation of Settlement and Order, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Town Assessor, Town Clerk 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 5 day of April, 2021, by the following vote: AYES: Mr. Freer, Mr. Ferone, Mr. McNulty, Mr. Strough, Mr. Metivier NOES: None ABSENT: None