Years ago Metrograft made a big announcement about an upscale clothier coming to Downtown Schenectady. All the usual cheer leaders were present. Memories of when you could buy quality Downtown at Imperial or Nusbaums. Not another governmental gin mill, Well, they have finally opened! In Latham-on Rt. 9!
As usual there is a wall of silence from the MSM about another Metrograft flop. No accountability-nobody knows from nuthin-no follow up. Like Big Hose, like Robinson's Square, like Hi-Fi, like Cardio-Mag, etc., etc.
Years ago Metrograft made a big announcement about an upscale clothier coming to Downtown Schenectady. All the usual cheer leaders were present. Memories of when you could buy quality Downtown at Imperial or Nusbaums. Not another governmental gin mill, Well, they have finally opened! In Latham-on Rt. 9!
LATHAM RT 9???????????????? Are you kidding me? We have been waiting, like how many years for this store to open? Hey, at least they were smart business people and knew it would never never fly on State Street. But how much of our tax money actually went into this building? I know I am posing question after question here...but I'm shocked!!! Why didn't we read about this in the gazette? Where is all of the investigative reporting? And they wonder why they are going down the tubes!
And let's not forget the rumor of Scarboro's moving out of Rotterdam and to Latham also! Everyone is jumping the sinking ship!!!
Thanks for the information Benny. We would have never known!
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
I recently heard from a (new) source of mine that the Big House Brew Club is opening on April 1st. I was originally of the understanding that the date was St. Patrick's Day (March 17th). Was expecting the green beer to flow!
Montesano said he wouldn't have made the move without an incentive package from the Schenectady Metroplex Development Authority, an economic development agency financed by a portion of the county sales tax.
Two years ago, Metroplex spent $800,000 to buy four deteriorating buildings on the north side of State Street, between Clinton and Jay streets. One of them is a three-story building that once housed the Jos. Nusbaum Inc. clothing store and, more recently, a boxing gym.
Montesano bought the 7,620-square-foot building, which has a working elevator, from Metroplex in early May for $250,000.
But, under the terms of the agreement between Montesano and Metroplex, only $100,000 was due at the closing. The remainder is a "conditional grant" that will be forgiven if Montesano retains ownership and runs the store for 10 years. If the property is sold within 10 years, the other $150,000 must be paid.
Metroplex is providing a $375,000 construction loan over 20 years, at 5 percent interest, to renovate the building, including cleaning the masonry facade and replacing the windows. The authority will hold a first mortgage on the property and a lien on the equipment.
Metroplex authorized spending $74,850 for asbestos removal before it turned over title of the property.
Montesano is investing $150,000 on building improvements and more than $500,000 in inventory and working capital, according to an amended version of the project plan that was prepared by Metroplex last November.
The deal appealed to Montesano because he's able to own the building, rather than rent as he does in Saratoga Springs. He plans to split his time between both stores and will hire a couple of tailors and seamstresses to staff the Schenectady shop when he's not there.
La Sartoria 595 New Loudon Rd Latham, NY 12110-4026 (518) 250-4167
Hmm. June 3, 2008
Quoted Text
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.
Instead of a upscale clothier you may have a burrito! A taxpayer supported burrito shoppe! With "VIP Room"! La Sartoria made a wise decision to stay away from Downtown. That is no place for upscale anything. Ask the jewelery how they are doing? lol.
Metrograft has known for 8 months about this but said nothing. Just like on Big Hose or Gillen's Gulch if negative-if a total flop-nobody will say nuthin. The burrito is out of the bag. Demand answers from your elected officials and suppine press. Had enough-YET?
All of this talk of the Metroplex made me curious about the recent activities of the public authority. Because the county residents don't have the benefit of the receipt of the audit report from the NYS Comptroller's Office nor is the public being served by the lack of investigative reporting performed by our local media, I thought that I would visit the Schenectady Metroplex Development Authority web site to read the latest Board meeting minutes (14 Jan 2009).
From all official reports, it seems that the decisions of the Metroplex authority have resulted in resounding success! According to the minutes, there was no mention during the most recent meeting of any of the failed projects or the status of the investment of public funds.
Mr. Gillen boasted about the increase in annual sales tax revenues and the disbursements to the towns. He didn't state, however, what percentage of the increase resulted from Metroplex sponsored business development versus the taxes collected on heating fuel that sold at the record prices during the summer and fall. Be reminded that Schenectady county is one of only a few in NYS that charges sales tax on heating fuel.
Of particular interest to me was the status for the following projects:
Quoted Text
5. Old Dorp. LLC / Broadway Commerce Park Project: Resolution 560-09 - Hold a Public Hearing
The project involves construction of a single story 16,750 square foot facility at 564 Broadway for John D. Marcella & Son Appliances, Inc. Marcella's has been in business for 50+ years and ranks among top 80 stores in the U.S. in annual sales of appliances and electronics. The company plans to maintain its 735 Crane Street store as a discount appliance center and its service center at 831 Crane Street. Old Dorp, LLC, an affiliated entity of Highbridge Development, will turnkey the project on behalf of Marcella. Construction will begin in April with occupancy in late summer/fall 2009. Metroplex participation involves making a $400,000 loan at 5% interest and a $250,000 façade grant. Metroplex will realize $150,000 from the sale of the property. Mr. Mantello moved Resolution 560-09; seconded by Mr. Wall, which was approved with 8 Ayes and Mr. Saccocio abstaining.
6. College Park Project: Resolution 561-09 - Provide a Partial Exemption from Real Property Taxes
The Golub Headquarters project, a 6-story, 240,000 square foot "green" building, is being developed by BN Partners & Associates, an affiliate of the Galesi Group. BN Partners requested a Metroplex PILOT for up to 8 years, thereby allowing the developer to remediate and remove soil contamination, continue its participation in the Empire Zone program, and add new tax base in Schenectady. Resolution 561-09 authorizes entering into a PILOT agreement with the developer. Total project cost is $22 million and the building is expected to open in November 2009, bringing 750 jobs to Schenectady. Mr. Lewis moved Resolution 561-09; seconded by Mr. Saccocio. Discussion followed regarding changes to the Empire Zone program proposed by Governor Paterson. Resolution 561-09 was unanimously approved.
I am wondering about the latter project (College Park). Is this a Metroplex sponsored project or not? I noted that Mr. Golub was not in attendance. Is he still on the Board of Directors? The resolution was unanimously approved.
The project will bring "750 jobs to Schenectady". From where? Rotterdam? Are these jobs in addition to the current staffing levels of the company?
Havent followed the metroplex business to closely but what happened with the Van Dyke? Wasnt sure how it was handled. the owner went bankrupt? metroplex loaned him money? he defaulted? then metroplex claimed it and sold all the equipment?
After all the money that went into bringing in the big house what is going to happen if it doesnt open?
More great news for down - town Schenectady and a big thank you again to Ms Savage and the New Team, Good luck Sartoria, you will do well there and 1000s of new people come to down - town every day over there
Where the heck are our news media reporters? I guess it boils down to being 'us', cause the gazette and any other media outlet aren't looking out for 'we the people'.
The only thing that the plex has done was 'relocate' a bakery(villa italia) and an office complex(golub complex). Oh ya, and they opened a couple bars. Apertivo ain't doing so good. Proctors can't sustain itself. LaSartoria finally smartened up. The Big House is...well, who knows? No burritos yet. Sunmark moved out. How much pork went into the pizza king relocation? The 'Y' is hanging in limbo...and the list goes on and on and on! PATHETIC!!!!
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
Van Dyke recap-2 separate loans from Metrograft {County taxpayer sheeple} for $275,000. Gin mill went belly up. Death Ray said don't worry his phone is ringing off the hook from new buyers. None materialized. Sold at auction for $1 above minumum bid! Only the first (Berkshire Bank) was paid off-Metrograft got ZERO. Than the Gazetto said this is a good thing? Huh? No demands for Ray's immediate firing. No clue from Sue "The" Savage.
La Sartoria is open in Latham. ONLY! Another snow job from the horrible Krats and Death Ray, who they refuse to can. Happy to hear that the Big Hose is finally opening on April 1st after a year of "finishing touches". $3 million in taxpayer largess is finally bearing booze. Better later than never. The Gazetto is totally in the bag on the whole Metrograft mess. TU is better but still refuses to give the unvarnished tale. Coming soon a review of Proctor's finances.
so the loans were defaulted on? - then the plex sells it to the county legislatures family for a dollar after the bank is paid off. would love to know if anybody else was ever really interested in buying...
Years ago Metrograft made a big announcement about an upscale clothier coming to Downtown Schenectady. All the usual cheer leaders were present. Memories of when you could buy quality Downtown at Imperial or Nusbaums. Not another governmental gin mill, Well, they have finally opened! In Latham-on Rt. 9!
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