Baumgartner plans to convert the former James’ Boxing Gym into a restaurant on the first floor and banquet space on the third floor, using a $250,000 loan from Metroplex and $420,000 of his own money.
second gazette report....
Quoted Text
Baumgartner plans to convert the former James’ Boxing Gym site into a restaurant on the first floor and banquet space, using a $250,000 loan from Metroplex and $620,000 of his own money.
That is a $200,000 personal investment increase..in 24hours.
And they never have given an estimated opening date for Montesanto. This new business has been talked about for well over a year. I wonder if there is a time table in place.
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
http://www.dailygazette.com Bombers’ owner, Matthew Baumgartner, will buy 447-451 State St. from Metroplex for $500,000. He will pay half the price at closing and the remainder over the next 15 years at 5 percent interest to Metroplex rather than to a bank.
On News10 (WTEN) last night at 11pm, they said specifically that he was purchasing the building for $400,000 - not $500,000.
I'd like to know which is correct - or if the Gazette will claim another "correction"
By LAUREN STANFORTH, Staff writer First published: Friday, June 20, 2008
SCHENECTADY -- The Metroplex Redevelopment Authority wants to spend $900,000 to rip up and repave a crumbling parking lot behind Proctors and the state Division of the Lottery building.
The proposed project would close the lot from September to November. But Proctors CEO Philip Morris said the closure won't affect his audience because many of them park for free in the parking garage off Broadway.
Metroplex Executive Director Jayme Lahut said the authority originally planned on redoing the Proctors lot, called the Clinton South lot, and a lot behind the Center City sports complex for a total of $350,000. But a design and construction analysis done by Clough, Harbour and Associates showed that just redoing the Clinton South lot would cost $700,000, with $100,000 for engineering and $100,000 for other contingencies.
"It was a poor estimation on my part," Lahut said at a recent Metroplex meeting.
The design firm said the entire infrastructure of the lot has to be replaced, as the pavement is buckling, and more lighting needs to be installed. Clough, Harbour said paving costs have gone up more than 40 percent this year, and construction costs are up 11 percent. Metroplex Chairman Ray Gillen said the exact cost of the project won't be known until it goes out for bid.
Rich St. Jean, general manager of the Parker Inn, said the inn's parking lot has been moved numerous times over the years as downtown construction has progressed, so one more time won't make much difference. St. Jean said he's confident Metroplex will find another location for the inn's customers, who have dedicated parking in the Clinton South lot.
Gillen said the state lottery has its own dedicated parking and many employees use the parking garage.
The Clinton South lot has 115 spots, and another 15 spots will be added. Metroplex said parking during construction will still be available in the lot closest to Stratton Plaza and the back of Proctors, a lot that has 70 spaces.
Metroplex still must get approval from the city planning commission before moving forward with the project.
So is it April one? April Fools day? I read this in the paper. This guy says 'I made a poor estimate" No what happened is that he estimated a correct and fair amount and then the powers that be said 'WAIT!" Don't forget the engineers, for 100, 000 dollars, don't forget the kickbacks, don't forget the Clough Harbor company who gets the cream and sends it to Susie Savage who puts it in the campaign warchest. So they send the guy out there to say "ooops I made a boo-boo and the price is triple, stupid me."
Can you believe they need to spend 100,000 to enginner the repaving of a lot. Only in this crooked town and the Democrats and Republicans have nothing to say except..." "
silence and silence and nothing more. This makes me in a rare mood. And now look- Metroplex with their blank check gets away with THIS? Thanks George Amedore for sticking to your guns on Metroplex, even if they were just water pistols. Maddone!!!!
SCHENECTADY City to redo busy parking lot Proctors’ patrons can use Broadway garage BY MICHAEL LAMENDOLA Gazette Reporter
The Metroplex Development Authority this fall plans to conduct a complete overhaul of its busiest downtown parking lot, located behind Proctors off Clinton Street. The project is expected to cost more than $500,000, but Metroplex will not have a firm financial number until bids are returned, said Chairman Ray Gillen. The work is to begin in September or October. “The lot hasn’t been done since the 1980s. It needs to be regraded, basically from scratch,” Gillen said. “We have deferred dealing with it while we did everything else.” Gillen did not know how long the overhaul would take, saying the bids would spell out the project’s length. Nevertheless, Metroplex already has a contingency plan for traffic during the work, since the lot is a favorite of Proctors’ patrons. “It’s a major landscaping project and a portion of the lot will be closed. We will stage the work and use the [Broadway] garage and the rest of our lots as backups,” Gillen said. Proctors’ patrons can use the Broadway parking garage for free, Gillen said. It is safe and clean. The garage contains 25 cameras covering all entrances and stairwells. Also, a truck belong to Laz Parking, which operates the lots and garage under contract to Metroplex, circulates through the surface lots and the garage every hour between 8 a.m. and 6 p.m. In addition, Laz staffs the garage from 7 a.m. to 11 p.m. weekdays and from 3 to 11 p.m. on weekends. Metroplex purchased seven offstreet parking lots from the Downtown Schenectady Improvement Corp. in 2004 for $1 million, spread over 20 years. It also took over operation of the Broadway parking garage, assuming more than $4.7 million in debt the city owed on the five-story structure. There are 2,066 parking spaces in the entire Metroplex system, Gillen said. “Buying the lots and garage was one of the best decisions we ever made,” he said. Since 2004, Metroplex has spent more than $1 million to reconstruct, landscape and restripe most of the surface lots. It also upgraded the parking garage, installing new lighting and security cameras as part of a network of wireless cameras being installed downtown. Metroplex added an eighth surface lot this year behind the Center City complex to accommodate additional visitors and employees coming to downtown. But it may lose one lot, called Broadway South, to the Schenectady Museum at some future date. The museum wants the parking lot to build a new science facility measuring up to 125,000 square feet. The site is near Interstate 890 and is close to downtown attractions. The museum is still raising money for the project and is not ready to exercise the purchase option on the lot, museum officials said. Metroplex is in discussion with Gordon Development about an undeveloped parcel it owns at Broadway and Clinton Street adjacent to Villa Italia. Gillen said Metroplex would like to see the parcel used either as a parking lot or as the site of a building.
Lingualinx moving from Schenectady - snubs Metroplex June 28, 2008 2:00 am – 2:00 am Lingualinx, a Schenectady company, is moving their offices from Schenectady to Remsen Street in Cohoes, despite Metroplex’s “best efforts” to keep their 40 jobs within the city/county.
CEO David Smith moved Lingualinx to Schenectady in 2003, a year after founding it in New York City. The company translates everything from birth certificates to Web site content in over 150 languages. Smith cites frustration with Schenectady officials and better parking and access to fiber optic connections in Cohoes.
Cohoes Mayor John McDonald says he didn’t approach Lingualinx, rather Smith sought them out. Lingualinx is leaving the Schenectady Empire Zone for the Cohoes EDZ. Cohoes Local Development Corp. approved for the company a $15,000 forgivable loan, which it does not have to pay back if it remains in the city for at least five years.
By LAUREN STANFORTH, Staff writer Thursday, July 31, 2008
SCHENECTADY - Metroplex and the Downtown Schenectady Improvement Corporation (DSIC) today announced that seven properties in downtown will get a total of $244,000 in facade improvements, which Metroplex says corresponds with a total $1.1 million in private redevelopment that will be invested into the properties.
The seven properties awarded are:
-- 515 State Street, at the corner of State and Barrett streets, will receive $60,000, which will then be matched by $60,000 in private funds. The project involves new windows, doors and entryway, plus repainting and masonry repairs.
-- 43 Washington Avenue, a commercial building in the Stockade area, will get $30,000 with an equal match provided in private funds for window repair, cornice repair, masonry and ironwork, lighting and painting.
-- 122-124 Jay Street, the new home of the Pizza King, will get a new paint job and masonry and cornice repairs, as well as new doors, signs and lighting. The facade grant totals $52,000 to be matched by $52,000 in private funding.
-- 101 State St., the Campbell House property on lower State Street, will receive $30,000 for a $30,000 private match for repainting, cornice repair, wood repair and masonry work.
-- 617 Union St. The building, which is getting $30,000 with a $30,000 private match, will receive new windows, a new front entry, new doors, masonry repairs and new signs.
-- 160 Jay St., the new home of Mohawk Valley Guitars, will get $2,000 for exterior improvements and signage.
-- 26 North Broadway, also known as the Swift Building, will get a $40,000 grant with a private match for a new paint job, new signs, masonry and ironwork, new lighting and cornice repair. Capital Living and Rehabilitation Centers has its office there.
First, don't you worry about the Pizza King. He has made out very very well!
Second, I still can not believe that in these tough financial times, these people are spending OUR TAX DOLLAR like a bunch of drunken sailors. Are they out of their minds? Are they that drunk with power that they refuse to stop spending since the county is facing a $16M deficeit? Sales tax revenue is down? Mortgage tax revenue is down? And now the state will cut back on spending that will surely impact our school and local taxes. Have they no regard of us at all????
Shadow said it the best....'it's time for the torches and pitchforks'.
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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