yes, there were some misteps., mostly under manning -- a republican appointee, btw,, remember grahammmy.. u put him there..
So, more LIMITED taxpayer money for downtonw under Manning. PARTIAL tax exemptions for a LIMITED number of years under Manning. And the city taxpayers were NOT paying twice for trash pick up.
So, under YOUR Gilen... virtually unlimited spending. 100% property tax exemptions WITH NO END DATE.....which means, SB that the homeowners wilil be bearing the cost TIL THE END OF TIME !!!!!!!!!.... and THAT you think is a good thing??????? Squeeze everty penny out of the homeowners is a good thing?
Post Gillen, the homeopwners are PAYING TWICE for trash pick up....... that's a good thing????????>
Post Gillen, the rate of violent crime is way up.....that thet is a good thing???????
Uh, how about giving a pair of slumlords who own many properties in the city that they are delinquent on, and who owned a buidling downtown that they were also big time behind in taxes, oh, it's really nice to make the struggling OVERTAXED homeowners give these tax delinquents a whopping quarter of a million dollars AND pay off their de;omqiemt tax bill on that downtown building AND by buying the buidling, the scumlords make a whopping 100% profit.....COURTESY OF THE TAXPAYERS !!!! WHEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!!! Oh your Gillen is oh so wonderful., makikng homeowners struggle by jacking up their taxes and causing their property values to plummet and make the city a place that NO ONE WNATS TO MOVE INTO.....That is a good thing, SB?????????????????
SB, I trust YOU own a house IN the city AND live in it, right???????? If you don't own and live in the city, why not?????
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
The hotel had a $683,912 loan from the Schenectady Metroplex Development Authority, a $669,305 loan from the New York Business Development Corp., and a $305,952 mortgage from First Niagara Bank, according to the court petition.
First Niagara Bank has a pending foreclosure proceeding.
Myers also personally loaned the corporation $214,700, and his development company, Concord Development, loaned $41,785.
All told, the debts add up to $2.39 million. Assets total $951,458.
Among the creditors holding the largest secured claims are American Tax Funding, a company that bought property tax liens from the city. American Tax is owed $125,038, according to the petition.
Also owed is $43,457 in school property taxes and $15,741 in city/county property taxes.
So, DV and SB......what have YOU got to say for yourself(ves) now> Huh>??????
ANOTHER TOTAL MISUSE OF TAXPAYER MONEY!!!!!!!!!!!!!! Homeowners struggle and lose their homes because they are FORCED to pay for these STUPID government projects.
Hey I'm not saying things shouldn't be done downtown, but it CANNOT BE DONE WITH TAXPAYER MONEY.
So let's see DV and SB try to weasel out of this one, still trying desparately to claim the city is in thius grand renaissance. Well????? Failure after failure
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
The hotel had a $683,912 loan from the Schenectady Metroplex Development Authority, a $669,305 loan from the New York Business Development Corp., and a $305,952 mortgage from First Niagara Bank, according to the court petition.
First Niagara Bank has a pending foreclosure proceeding.
Myers also personally loaned the corporation $214,700, and his development company, Concord Development, loaned $41,785.
All told, the debts add up to $2.39 million. Assets total $951,458.
Among the creditors holding the largest secured claims are American Tax Funding, a company that bought property tax liens from the city. American Tax is owed $125,038, according to the petition.
Also owed is $43,457 in school property taxes and $15,741 in city/county property taxes.
Another tax delinquent property Downtown. Surprised they didn't get a tax exemption from Death Ray, like everyone else in the DEM friends and family plan. They kept the last 12 income/expenses months blank. Its worse than the sheeple thought. Wonder the status on his condo plan on Union St? lol.
SCHENECTADY Parker Inn owner owes $2.4 million BY MICHAEL LAMENDOLA Gazette Reporter
The corporation that owns the Parker Inn in downtown Schenectady owes $2.4 million in back taxes and loans, including $683,000 to the Metroplex Development Authority, according to its federal bankruptcy petition. The corporation, Parker Building LLC, filed a voluntary Chapter 11 petition Friday in United States Bankruptcy Court, Northern District of New York, listing $953,000 in assets. The amount includes the assessed value of the Parker Inn at 434 State St., totaling $475,000, plus $476,000 in accounts receivable the inn owes the corporation. Parker Building filed for bankruptcy protection after one of its creditors, First Niagara Bank, foreclosed on a mortgage loan to the corporation. Parker Building owes $125,038 in property back taxes to American Tax Funding, which holds the lien; $15,741 in 2010-11 city and county taxes; and $43,457 in 2010-11 school taxes. These claims are secured against the corporation’s collateral and would receive priority under any repayment plan approved by the court. Next in line of payment priority are First Niagara Bank, owed $596,715, of which $305,952 is unsecured; the New York State Business Development Corp., owed $669,305, the full amount of which is unsecured; and Metroplex, owed $683,912, the full amount of which is unsecured. The corporation owes Chris Myers, the principal managing partner in Parker Building LLC, $214,700, plus $42,000 to his development corporation, Concord Development. Both amounts are unsecured. The corporation also owes $3,000 to four small investors, also unsecured. Myers on Tuesday said a bankruptcy filing was inevitable. He said the 23-room boutique hotel suffered from cash flow problems, mounting taxes and the recession. According to the court filings, the Parker Inn’s monthly estimated gross income totaled $9,200 and expenses totaled $26,000. Myers said he plans to convert the hotel into a mix of studio, one-bedroom and twobedroom apartments, catering to corporate clients. ................................>>>>........................>>>>........................http://www.dailygazette.net/De.....r00903&AppName=1
Since the DEMS are all hiding in the tall grasses today {Problem-what problem?} some predictable responses-
SS Savage; "Thanks to my new unified development team we now have a wonderful inn that takes in $9,200 and spends $26,000 EVERY MONTH."
From DVR/Banana "It's lies all lies! Besides Death Ray will go after the losses. The renaissance continues."
From Death Ray "This was all done by the previous leadership. The fact that we did nothing in 6 years is of no consequence. We knew nuthin-we saw nuthin."
Question here...they owe $2.4 million in BACK TAXES?! Really?
No one at the City or the Plex ever questions why the Parker Inn was so tax delinquent?
Isn't there some sort of stipulation in the Metroplex bylaws requiring loan receipients to stay current with their taxes? Their huge tax exemption ($682K off the $1.9 million assessment) ironically ends in 2012.
Well, doesn't matter now. They'll file bankruptcy and there is another few million gone from the City.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
$669,305 NYS Business Development Corp loan FULLY unsecured!
$1,478,255 in lost State, County and City funds! No problemo the oppressed County residents can make it up.
Great Job Death Ray of watching the County taxpayers money! In any other County massive resignations in disgrace would be immediately forthcoming. Not here. Watch for a Metrograft debt limit INCREASE and more awards for Death Ray. Can I come in for $500,000 unsecured Metrograft loan? I want to open a hot dog stand.
Hotel files for Chapter 11 reorganization in bankruptcy court
By ERIC ANDERSON Business editor
Published 12:01 a.m., Wednesday, June 1, 2011
SCHENECTADY -- The Parker Inn, which opened on State Street downtown nearly a decade ago as an upscale boutique hotel, shed more light on its shaky finances on Friday when its operator filed for Chapter 11 reorganization in Albany bankruptcy court.
The 23-room hotel, which opened after a $3.7 million renovation, reported $2.4 million in liabilities and just $951,000 in assets. How well it has performed in recent months isn't clear; the line listing gross business income for the past 12 months was left blank.
But it projected income of $9,195 a month going forward, with expenses nearly triple that, at $25,503.
Chris Myers, managing member of Parker Building LLC, the entity that filed, couldn't be reached for comment.
Previously, Myers blamed the hotel's troubles in part on its decertification from the state's Empire Zone program. The Parker Inn was reinstated after a lengthy review.
Previously, Myers blamed the hotel's troubles in part on its decertification from the state's Empire Zone program. The Parker Inn was reinstated after a lengthy review.
becuse there is a great need to come to schdy from other empire zones and stay tax free
or
the parker inn had such a demand for materials from other empire zones
Talking to each other is better than talking about each other
Logged
He doesn't even live in the County. A DEM moron that's near sighted. You keep paying-he keeps cheer leading.
Another tax delinquent property Downtown. Surprised they didn't get a tax exemption from Death Ray, like everyone else in the DEM friends and family plan. They kept the last 12 income/expenses months blank. Its worse than the sheeple thought. Wonder the status on his condo plan on Union St? lol. 
