This is exactly why there needed to be an audit b4 now as I'm sure the state audit will find that things like this have been going on for a while now at the tax payers expense. No more Metroplex spending until after the state audit.
We can't dissolve Metroplex YET ... we have a lot of money to recover for the taxpayers of this county first. What we need is an extremely strong, fiscally conservative LEADER with solid experience managing Metroplex - recovering our funds and keepiing it stable till every penny is recovered.
By state law, it must remain in existence - we need to make the best of it - and to do so, Gillen needs to find a new cash cow other than the taxpayers of Schenectady.
On election day, remember the Van Dyck, the Big House, Bombers and all the rest of the crap they've put us through in the past 3 years. Yes, they've done some good - but the bad outweighs the good.
Proctors looks great - but it's a private business, with the CEO, Phillip Morris enjoying a beautiful home in the Stockade, all the lush amenities of life for him and his employees (have you seen the cell phones and pda's your tax dollars bought them?) - and it's still a private business. Gillen, et al, are treating it like it's part of Schenectady's property portfolio. Same with BowTie.
We can't dissolve Metroplex YET ... we have a lot of money to recover for the taxpayers of this county first. What we need is an extremely strong, fiscally conservative LEADER with solid experience managing Metroplex - recovering our funds and keepiing it stable till every penny is recovered.
By state law, it must remain in existence - we need to make the best of it
First, a strong fiscal conservative running a bloated bureaucratic organization like Metroplex would be an oxymoron. In todays political landscape though, conservatives are allowed to run wasteful government programs and still be considered conservative. As every ideology continue to march to the left, on it's way to socialism.
Second, laws can be amended. Just because a law states it must remain in existence, doesn't mean the people of Schenectady County have to except it when they see it's failing. With enough public outcry, laws can be changed.
Sure, we should allow the Metroplex to remain in existence long enough recoup the tax money lent. What we CAN do is put a moratorium on any future development by the Metroplex Authority until all the money is collected, at that point Metroplex should be dissolved.
The taxpayers dollars that go to Metroplex should be just enough to pay for the administrative cost of collecting the money it's owed, until it is phased out. AND NOT A PENNY MORE!
I take issue with the blaten lies that have been told to the taxpayers that fund this Metroplex. And the lies came straight from Gillen himself AND Mr. Waite. How can they even say that they have been seeking someone to lease the first floor since DECEMBER, when just last week Mr. Wait was interviewed by Greg Floyd on channel 6 where it was stated that the Big House would be opened in 3weeks. LIE!!! And no mention from Waite or Gillen about the leasing. Well, not until we all screamed foul and got the media's attention. Otherwise we would still all be in the dark. Well done taxpayers!!!!
The Metroplex has become the 'good old boys' club! For example: Why is Mallozzi's 'for sale' of the Belvedere advertised as a POLIT-METROPLEX?? How did the Golub Office complex supersede the YMCA ib Nott St.? The dictatorship is doling out our tax dollar to who ever they are in bed with.Changes must be made at the top. And Gillen has to pack his bags and be on his way. People...we have been and will continue to be lied to if things don't change.
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
Waite has also invested more than $1.6 million of his own money in the project. However, he said Tuesday that he was never dedicated to the idea of a restaurant. He just had to come up with a project so that he could get the money to do what he really wanted — turn the basement into a club.
Refer to pages 4 and 5 of the "Big House Schenectady Draft General Project Plan" that is posted on the Schenectady Metroplex Development Authority web site at the URL below.
One page 4, reason #3 cited for the Metroplex taking on the project was that the Big House was to create 40 FTE (full time employee jobs). On page 3, the proposal states that "The Big House will employ 20-25 full-time and 40-50 part-time individuals. The project will boosts sales tax receipts and meaningfully add tax base."
In section IV, Metroplex Risk Assessment, the second (bulleted) identified risk associated with Metroplex's participation in the project is that "The bar/restaurant sector is both highly cyclical and competitive. The experience of the Big House team helps to negate this factor".
Shouldn't the "Big House team" have relied on their experience to determine that the first level of the building would not lend itself well to being used as a restaurant.
The Metroplex charter includes, as one of its objectives, the creation of jobs. Waite states in the article that he never was committed to opening a restaurant in the building. The estimates of jobs being created appear to have been used only to secure the necessary funding using public revenues.
Gillen Lied, People lost their houses. Gillen Lied, People moved out. Gillen Lied, more crime comes to Schenectady.
What more do we need. Do we need petition for a recall election on the County Legislature? Do we need NY State to come in and clean house? The taxpayers of Schenectady are being fleeced, deceived and outright lied to.
The madness must end, Gillen needs to go - and take Savage with him.
I think I found some definitions for the Metroplex...let me know what you think...
a system of social organization in which all economic and social activity is controlled by a totalitarian state dominated by a single and self-perpetuating political party.
A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.
A scheme of equalizing the social conditions of life; specifically, a scheme which contemplates the abolition of inequalities in the possession of property, as by distributing all wealth equally to all, or by holding all wealth in common for the equal use and advantage of all.
An economic and social system. In theory, all means of production are owned in common, rather than by individuals. In practice, a single authoritarian party controls both the political and economic systems.
I think I found some definitions for the Metroplex...let me know what you think...
a system of social organization in which all economic and social activity is controlled by a totalitarian state dominated by a single and self-perpetuating political party.
A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.
A scheme of equalizing the social conditions of life; specifically, a scheme which contemplates the abolition of inequalities in the possession of property, as by distributing all wealth equally to all, or by holding all wealth in common for the equal use and advantage of all.
An economic and social system. In theory, all means of production are owned in common, rather than by individuals. In practice, a single authoritarian party controls both the political and economic systems.
Someone needs to enlarge this, frame it and send it to Gillen and the gang!!!!! Perfect Kevin!
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
News that a Big House restaurant will not be opening in downtown Schenectady, a surprise to most people who’ve been waiting for it the past couple of years, is certainly not the end of the world, as some detractors of the Metroplex Development Authority are trying to make it. Probably the most disappointing element of the story is that Metroplex Chairman Ray Gillen kept implying, whenever anyone asked, that the project was nearing completion and would soon be open. It was only after Republican County Legislator Joe Suhrada saw a real estate listing this week indicating that the ground floor of the building was for rent, that Gillen acknowledged the restaurant plan was dead. Yet Gillen says he learned this from developer Stephen Waite “ages ago,” and has been showing the ground floor to potential retail tenants “for months”; so why didn’t he go out of his way to disseminate this information to the public earlier? (He told the county Legislature last month that a tenant was being sought for the first floor, but he didn’t make it clear why.) This is an issue because Metroplex gave Waite big money to rehab the four-story building — a $1 million loan, $250,000 facade grant, $50,000 to remove asbestos and $100,000 loan toward property taxes that the state will pay back under the Empire Zone program. So far, the investment hasn’t produced anything for downtown Schenectady except a nice-looking facade, but Waite has invested a bundle of his own money in the place and says he’s still planning to open a night club in the building’s basement and move his law offices into the fourth fl oor. If he can fill the first-floor space with a quality retail operation, that might actually be preferable to a restaurant, which there is no shortage of in downtown Schenectady. Quality retailers, on the other hand, do seem to be in short supply downtown. Assuming he lands one, and can open his nightclub without further delay, he should have no trouble paying back his Metroplex loan (which doesn’t start coming due for another two years). Retail shouldn’t translate into an appreciable difference in jobs, so it’s hard to see what the big fuss is about — unless it’s just over Gillen’s repeated obfuscations about what was happening down there.
No big deal? The audacity of the Gazette is inexcusable. The "watchdog" newspaper, that's supposed to report NEWS - why don't they ask why they were lied to - just like the public? Why don't they ask what they've received for their $1.4million.
I can't believe they said "no big deal" - that really boils my a@@.
so it’s hard to see what the big fuss is about — unless it’s just over Gillen’s repeated obfuscations about what was happening down there.
OBFUSCATIONS? No it is called a LIE. Gillen lied to the taxpayers and the media over and over and over and over again. And yet the Gazette still defends the lies!!! Amazing! The taxpayers should be looking for Gillen's resignation AND criminal charges against Waite for 'taxpayer theft'. And perhaps the entire Metroplex could be named as an accomplice.
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, there's $1.1 million in loans that don't have to start being paid off for another couple of years. And I'm sure that we're calculating the interest on these loans from the day that the money was handed over, not from the "opening date" or from some proposed opening date, right? So, how much will this guy be in the hole before he starts even making interest payments? I would guess that it would be up to at least $1.5 million. And then there's the question of what type of interest rate is being used. Is it the prime rate from the time when the loans were given out? This would be a MUCH higher rate than is currently seen in the open market, since the federal government is so busy "saving" us by making money cheaper.
And what happens when people find out it's just another cheap downtown bar with no place close by to park?
If he can fill the first-floor space with a quality retail operation, that might actually be preferable to a restaurant, which there is no shortage of in downtown Schenectady. Quality retailers, on the other hand, do seem to be in short supply downtown. Assuming he lands one, and can open his nightclub without further delay, he should have no trouble paying back his Metroplex loan (which doesn’t start coming due for another two years). Retail shouldn’t translate into an appreciable difference in jobs, so it’s hard to see what the big fuss is about — unless it’s just over Gillen’s repeated obfuscations about what was happening down there.
Large amounts of tax dollars were given to Mr. Waite, with the assurance that a brand name establishment like The Big House, expected to create 40 to 50 jobs, was going to open up in downtown Schenectady. As far as I know, based on what Mr. Gillen said, there were no ifs, mights, assumings, orshoulds attached to those public grants and loans. Mr. Gillen was guaranteeing the county taxpayer a return on their investment, based on Mr. Waite's and Mr. Gillen's agreement. Not only did Mr. Waite not follow through on the promises he made to secure the tax money through Metroplex, Mr. Gillen was an accomplice in hiding it from the public over the past 4 months. Mr. Gillen may have know about Mr. Waite's reneging on the deal earlier, but we would never know because our news outlets(The Gazette) fail to press these issues on the publics behalf like they're supposed to. Hopefully the audit will shine some light on Metroplex's corruption and disfunction. I doubt it, with a democratic controlled comptrollers office auditing a democratic controlled county Public Authority. Get ready for the dog and pony show!
Quoted from Kevin March: So, there's $1.1 million in loans that don't have to start being paid off for another couple of years. And I'm sure that we're calculating the interest on these loans from the day that the money was handed over, not from the "opening date" or from some proposed opening date, right? ...
(page 4 of 6) Metroplex funding is required to bring 411 State Street back to a state of good repair through a $1,000,000 loan and a $250,000 façade grant to 411 State Street, Inc., a real estate holding company formed by Sheridan Hollow for project development. The 15-year loan (25-year amortization) at 0 percent interest is secured by a mortgage on the land and building subordinate only to the lead lender with no payments for the first five years. The grant is available to mitigate project renovation costs, with emphasis on façade improvements improving the character of the building. Metroplex funds will be distributed on receiving construction expense documentation.
Quoted Text
(page 3 of 6) The Big House will employ 20-25 full-time and 40-50 part-time individuals. The project will boosts sales tax receipts and meaningfully add tax base.
Quoted Text
(page 4 of 6) Metroplex has three reasons for taking on this project:
1. The project complements the revitalization underway in the Proctors Block including Proctors, Hampton Inn, Cramer Building, Send Word Now in the Imperial Building and Villa Italia to mention a few. This new project jump-starts efforts to revitalize the Northside of State Street. 2. The project rehabilitates urban blight via renovation and adaptive reuse of structures in the downtown. 3. The project will create 40 new jobs within 3 years and increase tax base in Schenectady.
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