Brad, as a taxpayer and resident of Schenectady County, I really appreciate your efforts. You've gone far and above what anyone else does, says or investigates. Your work is to be complimented.
I'm so sick of Metroplex, Gillen, Savage and their GANG, treating the minority party with contempt, bullying them into submission and feeding horseshit to the constituents that put them in office. Maybe with your help the word will get sung from the rooftops that it's definitely time for CHANGE - and I don't mean Obama style.
No thanks required MT, though I appreciate your kind words.
We are ALL doing our part by posting our concerns to these web forums. Each of us have our areas of interest. Freedom of expression is the foundation of a healthy democracy.
Rest assured that the postings to these sites are being viewed by many who do not actively participate, including the politicians and the press.
I agree with you that change is needed. And as you so adeptly stated, change can be positive or negative.
Full Market Value: 2006 - $436,900 2005 - $394,800
Where's the 500% increase in value there? (He stated they were going to satisfy the $275k investment in the "property") Where will the rest of the proceeds go.
Brad - you're a real estate guy, can you put this into simple terms for me?
I also wish I could ask an appraiser (don't know anyone locally) how all those row buildings across from Proctors can be assessed for so little (given the HUGE attraction to the area) when the average home in Schenectady is being assessed at twice that value.
We're talking 3 story buildings, mostly with new facades, some with significant parking lots, property square footage larger than most home lots, more toilets/sinks/water/sewage usage than most homes, etc etc etc.
I don't know the history of the City of Schenectady property assessements (e.g., equalization rates).
I am also assuming that the 2005 and 2006 assessments were done prior to significant improvements (e.g., facade) being made to the properties.
It would be more telling if you can compare the present valuations and assessments of the properties that you identified with a residential property that is located in the city with a similar assessment.
Quoted from MobileTerminal: ... So, if this is correct, Metroplex obtained ~ 500% more for the property than it was assessed for just 2 years ago? Pretty good in a slumping market.
Take a look at this thread on the Schenectady forum:
Specifically, view my post at reply #18. According to my research, the Metroplex Authority hasn't owned the property at 447-451 State Street for over a year.
Brad, I hate that forum - one of the reasons I'm not registered there. Too much backstabbing, fighting and undertones. I don't like controvery, I just want the facts. You do a good job of presenting them in a non-partisan manner.
Is there any one place that has the info? Not much happening at the schenectady blog - not much user input either.
Quoted from MobileTerminal: ... Is there any one place that has the info? ...
That would be too easy and provide too much transparency. No, regrettably, I have been piecing together the pieces for months. And, it's like an onion, you peel one layer only to find another.
Monday, June 2, 2008 Bombers Burrito Bar moving into different building in downtown Schenectady The Business Review (Albany) - by Michael DeMasi The Business Review
Bombers Burrito Bar is still opening a new location in downtown Schenectady, but it will be in a different building on State Street.
And, in a twist on the original plan that was announced last October, the owner of Bombers will buy a three-story building at 451 State St. for $500,000 instead of renting a smaller storefront at 433 State St.
The change also means a Saratoga Springs tailor who had planned to open a custom clothing store at 451 State St. will instead open a shop a couple of doors away, said Ray Gillen, chairman of the Schenectady Metroplex Development Authority.
Bombers owner Matt Baumgartner said today he has a contract to buy 451 State St. from the Metroplex Development Authority.
The 7,620-square-foot building is more than twice the size of the storefront Baumgartner originally planned to rent. The address is next to a row of buildings that were demolished a few weeks ago to make way for a planned office and retail development called Clinton Square.
Baumgartner said the bigger space at 451 State St. will enable him to duplicate the layout of his business on Lark Street in Albany, which has a restaurant on the bottom floor, a full-service bar on the second floor and a private party room on the third floor.
Up until two weeks ago Baumgartner said he expected to rent the smaller, single-floor storefront at 431 State St., but he said the estimates to renovate the space were growing.
He said it would be better for him to own a building instead of spending that much on renovations.
Baumgartner said the custom tailor from Saratoga Springs, Vincent Montesano, decided not to move ahead with his plans to open a custom clothing store at 451 State St. called La Sartoria II.
Montesano couldn't be immediately reached for comment.
Montesano was expected to buy the building from the Metroplex for $250,000. Selling to Baumgartner instead will generate twice that amount and free up space at 433 State St. for other uses, Gillen said.
The building is part of the Center City Sportsplex, which could be converted into a new branch of the Capital District YMCA.
According to Gillen, the Metroplex has just finished renovating the interior of 451 State St. and work is continuing on the facade. Baumgartner will receive a $40,000 grant to fit-up the space and $75,000 for the facade, Gillen said.
Baumgartner does not yet have a closing date for the purchase and didn't know how long it would take to complete the renovations.
http://www.dailygazette.com Quoted Text SCHENECTADY Eatery to open on State Street Union graduate excited to bring Bombers to city BY MICHAEL LAMENDOLA Gazette Reporter
A Union College graduate who once drove an ice cream truck in Scotia plans to open his second Tex-Mex restaurant, Bombers Burrito Bar, directly across from Proctors in 2008, he said Thursday. “It’s our 10-year anniversary Oct. 3, and I wanted to pick the perfect place. And I feel Schenectady is that place,” said Matt Baumgartner. Baumgartner opened his fi rst Bombers on Lark Street in Albany 10 years ago next month, using $15,000 he won at a poker game at Turning Stone Casino. The Lark Street Bombers will remain open. He will lease 3,500 square-feet at 433 State St., adjacent to Center City on the west, in space occupied by Nextel and Scooters, said Ray Gillen, chairman of the Metroplex Development Authority. Metroplex will provide Baumgartner with a facade grant, he said. The new Bombers will have a liquor license and will offer Tex-Mex food, but no live entertainment. Baumgartner said opening his second Bombers in Schenectady “is sort of a homecoming to me. I went to college at Union and worked at GE and then I drove an ice cream truck in Scotia. I am familiar with the area and am excited about being part of it.” Baumgartner, a native of New Hartford in Oneida County, studied Spanish and economics at Union College. After graduating, he took a job in financial management at General Electric Co. in Schenectady, but quit after his poker game win. Baumgartner wasn’t always keen on Schenectady’s downtown, but Metroplex officials asked him to take another look. What he saw helped make up his mind to invest there after he sold another Albany club, Noche Lounge, which he opened in 2005. “I had looked at Schenectady in the past and was hesitant,” Baumgartner said. “Now, I am really excited. I can’t wait.” Schenectady County Legislature Chairwoman Susan Savage, who had pressed Gillen to get Bombers downtown, said, “This is a project we worked on for a long time. We are excited to have a new venue for the downtown arts and entertainment district.” Gillen said Baumgartner signed a lease agreement Thursday with Metroplex. “This is the first of many exciting things we have planned,” he said. He called Bombers on Lark Street “a very popular spot, a major destination,” and he said the new Bombers “fits in with the eclectic mix of retailers we are bringing downtown.” David Buicko, chief operating officer of the Galesi Group, a major downtown developer, said the opening of Bombers provides “a great venue to come back to after Proctors and the movie theater. The more places people can go to for entertainment and fun, the better.” Galesi’s next downtown venture is to take over operations of Center City in mid-October from current owners, The Lupe Group.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
So it took 9 months to make this decision? What has the Metroplex been doing for these past 9 months? So there goes more of our tax dollar down the drain with no return for almost one year. Thank God Gillen is not my financial advisor!!! I personally think that Gillen is way over his head and has lost control and sight of the metro-purse. It is time for him to go now!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
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