Villa Italia does not pay property and school taxes and there is no indication on the County tax rolls that they ever will.

Also, they have a $336,667 Metroplex interest free, 20 year loan.

Sales tax is not an amount the a business pays, it is the amount of tax a customer pays. In any event, the sales tax generated on coffee would NEVER generate the monies lost by the City for lost property and school taxes for decades (in the millions) and the interest lost on a 20 year, interest free loan.

It's a taxpayer burden and will be for decades to come.  

It's rare I come even remotely close to agreeing with DV...

And while Villa Italia did get a sweet deal, unlike the lunacy of suggesting that the taxpayer funding of the bagel shop is going to generate NEW sales tax revenues, as opposed to stealing away business from other non-tax payer supported businesses in the area....

Villa Italia, without a doubt, will have generated truly new sales tax revenues.  Their foods are delicacies that our ever growing waistlines are happy to indulge in, especially as it becomes more convenient.

Breakfast is not a "treat", people are not just going to start having breakfast because there's a new shop open that they can patronize.

I'm not suggesting however the added sales tax revenues at Villa Italia's new location make up for the loss of property and school taxes.

Where Death Ray went wrong here...  Is not so much giving these ax breaks, but for letting them ride so long.  Yes businesses can use help in getting established.  That doesn't mean a decade.  Death Ray & Landslide Suzy - this isn't rocket science!

Quoted from JackBauer

It's rare I come even remotely close to agreeing with DV...

Villa Italia, without a doubt, will have generated truly new sales tax revenues.  Their foods are delicacies that our ever growing waistlines are happy to indulge in, especially as it becomes more convenient.

The new sales tax could have come from some other business as well. Villa Italia sales tax will certainly not make up for the loss of millions in property/school taxes along with interest lost on the $300K Plex loan. In the end, the taxpayers will never get back the money lost in this business, no matter how much they like cannolis.  

Quoted from rachel72

The new sales tax could have come from some other business as well. Villa Italia sales tax will certainly not make up for the loss of millions in property/school taxes along with interest lost on the $300K Plex loan. In the end, the taxpayers will never get back the money lost in this business, no matter how much they like cannolis.  

You hit it right on the point.  We're losing money day by day as long as the loan stands out.  Let's also remember that after they return the loan money after all the years, the $300K will no longer have the same value.  With at least a small amount of interest, we would have been able to keep at an even keel, but we give it to them interest free, therefore in the end, they have to pay back $300K in 2010 money, not in 2040 money (or whenever the last payment date), which I'm sure it will take more money to buy anything at that point (disagree, tell me how much of a difference there is in the price of something you buy now versus how much the same item cost in 1981.

Quoted Text

The Schenectady County Metroplex Development Authority's works to attract new jobs and new investment to Schenectady County. Its efforts focus on key commercial corridors and business parks strategically located throughout the County with a special emphasis on redevelopment of the downtown area in the City of Schenectady.

We are guided by the three criteria:

   1. to expand the county's property tax base;
   2. to expand the sales tax base; and
   3. to create and retain jobs.

http://schenectadymetroplex.org/what.php


I'd like to see any indication that the Metroplex has expanded the county's property tax base in the past 10+ years.

Metrograft has been such a total failure at job creation that Schenectady County has the highest unemployment rate in the Capital District. This is a shock because every single DEM, including newly minted ones, claims to have created 2,000 new "green" jobs.

     ANG says he created 2,000 jobs since he switched parties. Landslide Savage claims to have created 2,000 new jobs. In the past ten years 15,000 jobs have left this County. Aside from the 2 hot dog jobs at DSS and State jobs that Farley brought Downtown no one can identify any new jobs. A great example is the jewelry store at Proctor's Arcade. They promised to create 10 new jobs. They created one job and have cut hours three times because of lack of business.

Quoted from benny salami

Metrograft has been such a total failure at job creation that Schenectady County has the highest unemployment rate in the Capital District. This is a shock because every single DEM, including newly minted ones, claims to have created 2,000 new "green" jobs.

     ANG says he created 2,000 jobs since he switched parties. Landslide Savage claims to have created 2,000 new jobs. In the past ten years 15,000 jobs have left this County. Aside from the 2 hot dog jobs at DSS and State jobs that Farley brought Downtown no one can identify any new jobs. A great example is the jewelry store at Proctor's Arcade. They promised to create 10 new jobs. They created one job and have cut hours three times because of lack of business.

Now Benny ... don't be such a Bummer to "the plan".

Metroplex / Savage claim all those NEW jobs at Golub as "job creation".

Metroplex / Savage claim all those NEW jobs at DOT as "job creation".

Metroplex / Savage claim all those NEW jobs at SEFCU as "job creation".

Metroplex / Savage claim all those NEW jobs (3?) at Bow tie as "job creation".

Metroplex / Savage claim all those NEW jobs at Muddy Cup as "job creation" (despite the fact they didn't hire anyone, just changed ownership)

Give credit where credit is due - if it's due.

/tic

If any of these businesses are in the Empire Zone, they pay a lower percentage or no sales tax at all.

Quoted from rachel72

Villa Italia does not pay property and school taxes and there is no indication on the County tax rolls that they ever will.

Also, they have a $336,667 Metroplex interest free, 20 year loan.

Sales tax is not an amount the a business pays, it is the amount of tax a customer pays. In any event, the sales tax generated on coffee would NEVER generate the monies lost by the City for lost property and school taxes for decades (in the millions) and the interest lost on a 20 year, interest free loan.

It's a taxpayer burden and will be for decades to come.  

But if the business did not exist -- the sales tax would not have been generated.

Quoted from bumblethru

If any of these businesses are in the Empire Zone, they pay a lower percentage or no sales tax at all.

But the customers who purchase taxable items pay the full sales tax -- which is then passed on to the state and county.

Quoted from DemocraticVoiceOfReason

But if the business did not exist -- the sales tax would not have been generated.

Reverse that. The County taxpayers would have $300,000+ back in their pockets. The City would have a property owner who would need to pay school and property taxes on a newly constructed building.

Schenectady has too many non-profits eating away at the taxpayers, why are for-profit businesses doing the same......it's pathetic!

Why not come up on Crane Street hill and help the businesses up there that are struggling.  How can it be that Villa is paying NO tax?  That is outrageous.

Quoted from 147

Now Benny ... don't be such a Bummer to "the plan".

Metroplex / Savage claim all those NEW jobs at Golub as "job creation".

Metroplex / Savage claim all those NEW jobs at DOT as "job creation".

Metroplex / Savage claim all those NEW jobs at SEFCU as "job creation".

Metroplex / Savage claim all those NEW jobs (3?) at Bow tie as "job creation".

Metroplex / Savage claim all those NEW jobs at Muddy Cup as "job creation" (despite the fact they didn't hire anyone, just changed ownership)

Give credit where credit is due - if it's due.

/tic

Golub and SEFCU merely transferred jobs from elsewhere in the County-nothing new created. DOT predicates Death Ray/Landslide. Muddy Cup closed-a complete failure-loss of 10 jobs. The 3 Bow Tie jobs were actual new jobs created under the unified redevelopment team of Cheech and Kong. Net job loss-7.

Exactly.

Quoted from JackBauer

It's rare I come even remotely close to agreeing with DV...  

And Jack was not influenced by the Mocha Grande and gelato that I sent him.