Schenectady Metroplex Development Authority Board Meeting Minutes June 15, 2011
Present: Ray Gillen, Sharon Jordan, Neil Golub, Bob Mantello, John Mallozzi, Bill Chapman and Karen Zalewski-Wildzunas
Absent: Bob Wall, Ed Capovani and Janet Hutchison
Others: Jayme Lahut, Jim Callander and Scott Cietek
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Mantello moved adoption of the April 29, 2011 meeting minutes; seconded by Ms. Jordan and approved.
2. Treasurer’s Report: Jayme Lahut reviewed the Treasurer’s Report ending May 31, 2011 which was distributed prior to the meeting. He noted that sales tax receipts increased and revenues were on target with budget, while the expenses are slightly over budget through five months. Cash on hand was $2,331,000. Mr. Golub moved acceptance of the Treasurer’s Report; seconded by Ms. Jordan and approved.
The environmental review of the Transfinder project clearly fell with the parameters of the original Proctors Block Findings Statement adopted by the Board in November 2003. The building at 440 State Street is historically significant. When Proctors accepted a $150,000 Heritage Area grant for the building about ten years ago, the Office of Parks, Recreation and Historic Preservation (OPRHP) imposed certain deed restrictions requiring, among other things, adherence to federal preservation standards. Metroplex and Proctors convinced OPRHP to lift the requirement in order for Transfinder to acquire and renovate the building, while preserving the historically significant facade and expand the space to 26,000 square feet. Consequently the SEQRA resolution amends to prior Findings Statement and Resolution 711-11 determined that the project does not result in any significant adverse environmental impacts. Mr. Golub moved Resolution 711-11; seconded by Mrs. Zalewski-Wildzunas. Following discussion about OPRHP and SEQRA, Resolution 711-11was approved.
4. Transfinder Corporation Relocation Project: Resolution 712-11 — Adopt the General Project Plan
Founded in 1988 and headquartered in Schenectady, Transfinder Corporation applies MapInfo’s industry-leading mapping technology and database management to deliver superior transportation and logistics management solutions. The company’s products allow school districts to manage bus routes, provide safe and efficient student transportation, and access a wealth of critical district information. Owned by Antonio Civitella, a Schenectady native, the company has more than doubled its sales in the past three years and has outgrown its leased space at 120 Erie Blvd. Plans call for demolishing a portion of the structure at 440 State Street and enlarging the building to 26,000 square feet for consolidating and expanding the company’s corporate headquarters. The total project cost is $4.2 million. Metroplex participation includes a $150,000 project renovation grant, a $60,000 façade grant and a partial exemption from real property taxes until March 1, 2012. Mr. Mantello moved Resolution 712-11; seconded by Mrs. Zalewski-Wildzunas. Discussion followed and Mr. Gillen showed a rendering of the facility. Resolution 712-11 was unanimously approved.
5. Proctor’s Theatre Project: Resolution 713-11— Amend the General Project Plan
Resolution 713-11 facilitated the Transfinder transaction by amending a promissory note with Proctors and revising the loan repayment schedule. Proctors originally borrowed $600,000 from Metroplex for construction in 2007, and repaid $300,000. When Transfinder acquires 440 State Street, Proctors then repays $150,000 to Metroplex that will then be used to repay OPRHP for Heritgae Area grant to Proctors thereby removing the deed restrictions on 440 State Street. Ms. Jordan moved Resolution 713-11; seconded by Mr. Chapman. Following discussion, Resolution 713-11 was unanimously approved.
6. Schenectady Heritage Visitor Center Project: Resolution 714-11 — Adopt the General Project Plan
Resolution 714-11 advances $220,000 in funding for a new Visitor Center located at Proctors. In turn, a $180,000 DOT Scenic Byway Grant secured by the City will reduce the outlay upon project completion. The Visitor Center will feature exhibit panels highlighting local history, digital and video displays, a retractable stage for occasional live events, and promote Schenectady County tourism. Work will be completed by mid-July. Total project cost of $220,000 included the DOT funding plus Metroplex participation matching funds. Ms. Jordan moved Resolution 714-11; seconded by Mrs. Zalewski-Wildzunas. Following discussion, Resolution 714-11 was approved.
7. Clinton’s Ditch Expansion Project: Resolution 715-11 — Determination of No Significance on the Environment / SEQRA Negative Declaration
Clinton’s Ditch project involved constructing a 2,250 square foot addition for an expanded kitchen, upgraded service area, reconfigured lavatories, handicap accessibility, and more seating and banquet space. The site of a former City firehouse, the new structure’s façade will emulate features of the old firehouse including an overhead door that opens to the street during pleasant weather. Resolution 715-11 addressed the state-mandated environmental review by classifying the project as an Unlisted Action and having no significant effect on the environment. Mrs. Zalewski-Wildzunas moved Resolution 715-11; seconded by Ms. Jordan and approved.
8. Clinton’s Ditch Expansion Project: Resolution 716-11 — Adopt the General Project Plan
Metroplex participation involved making a $30,000 façade grant in support of the notable exterior design and forgiving the outstanding balance (about $31,000) of its $50,000 loan for the original renovation in 2005. Mrs. Zalewski-Wildzunas moved Resolution 716-11; seconded by Mr. Mantello. Discussion followed and Resolution 716-11 was unanimously approved.
In April, Metroplex disseminated a Request for Qualifications to a dozen parking management companies doing business in NYS. Three proposals were received from Laz Parking, Republic Parking (Worcester, MA) and SP Plus Municipal Services, a division of Standard Parking (New York, NY). With the concurrence of the Fiscal Audit Committee, a multi-year contract was negotiated with Laz Parking for the on-going management and operation of the downtown parking system. Key provisions included a Five-year term with two-year renewal; compensation remains effectively unchanged (annual fee of $80,000 with an incentive of 8 percent of gross revenues not to exceed an additional $80,000 per year), and annual operating expenses based upon the Metroplex budget. Mr. Golub moved Resolution 717-11; seconded by Mr. Chapman. Brief discussion followed and Resolution 717-11 was unanimously approved.
10. Program Management Services: Resolution 718-11 — Renew Contract with T. Wilson & Associates, LLC
In 2009, the Board retained T Wilson & Associates for a three-year term following an RFP procurement to assist Metroplex staff with coordinating construction and renovation projects taking place in downtown and in Schenectady County. The current year contract expired on April 30. The third year of the contract was negotiated for $8,000 per month. Ms. Jordan moved Resolution 718-11; seconded by Mr. Chapman and unanimously approved.
11. Public Comment: None
12. Board Comment: General discussion among the members followed.
13. Adjournment — Mr. Golub moved to adjourn; seconded by Mrs. Zalewski-Wildzunas. The meeting adjourned at 6:55 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes August 10, 2011
Present: Ray Gillen, Sharon Jordan, Neil Golub, Bob Mantello, Ed Capovani, Bob Wall, John Mallozzi, Bill Chapman and Karen Zalewski-Wildzunas
Absent: Brad Lewis, John Mallozzi and Janet Hutchison
Others: Jayme Lahut, Jim Callander and Scott Cietek
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the June 15 meeting minutes; seconded by Ms. Jordan and approved.
2. Treasurer’s Report: Mr. Wall reviewed the Treasurer’s Report ending July 31, 2011 which was distributed prior to the meeting. He highlighted the rising sales tax receipts year to date, which made revenues slightly under budget for the period. Operating expenses were also under budget. Cash on hand totaled $2,930,500. Discussion followed about sales tax forecasts. Mr. Golub moved acceptance of the Treasurer’s Report; seconded by Mr. Capovani and approved.
3. Foster Building Stabilization Project: Resolution 719-11 — Award Asbestos Abatement Contract
Metroplex publicly bid work for asbestos and debris removal within the Foster Building complex. Abatement was completed in the Foster Hotel last fall. Four firms submitted qualified bids with Four Strong Builders, Inc. from Clifton, NJ submitting the low bid at $239,900. Mr. Capovani moved Resolution 719-11; seconded by Mr. Wall. Discussion followed regarding prospective developers interest in acquiring and redeveloping the site. Resolution 719-11 was unanimously approved.
4. Downtown Parking Project: Resolution 720-11— Amend State Assistance Contract for Broadway South Lot (NYS DEC Environmental Restoration Program)
The State’s Environmental Restoration Program (ERP) can provide up to 90 percent reimbursement for clean-up costs associated with remediation of two locations in the Broadway South Lot. Resolution 720-11 authorized funding remediation up to $135,000 and thereby recouping from DEC up to 90 percent of eligible costs. Mr. Mantello moved Resolution 720-11; seconded by Ms. Zalewski-Wildzunas and unanimously approved.
5. 2011 Parking Infrastructure Improvements (Broadway South Lot): Resolution 721-11 Approve the General Project Plan
Since National Grid and DEC have proposed soil removal and clean-up in a broad area of the Broadway South lot, Metroplex can sequence lot reconstruction at considerable savings because Grid will replace much of the site infrastructure as part of its work plan. Metroplex work will include installing curbing, resurfacing and restriping the lot, new lighting, fencing, planting grass and some repair to the historic Weigh Station. Ms. Jordan moved Resolution 721-11; seconded by Ms. Zalewski-Wildzunas. Discussion followed about the Grid’s contamination work and adaptive reuses for the Weigh Station. Resolution 721-11 was unanimously approved.
6. Lofts at Union Square Project: Resolution 722-11 — Adopt the General Project Plan
Project plans call for demolition of existing vacant structures and constructing rental housing at the northwest corner of Union and Barrett Streets. The two-phased project envisions 8 two-story row house units with attached single-car garages on Barrett Street and a 3-story, 14-unit apartment building on Union Street. Metroplex participation is limited to phase-one by making a $150,000 grant for demolition and site preparation and $200,000 construction / permanent loan as part of the $1,543,000 project. The phase-two budget is $1.6 million. Ms. Jordan moved Resolution 722-11; seconded by Mr. Capovani. Discussion followed about the need for downtown housing and boosting the Union Street corridor. Resolution 722-111 was approved.
7. LaSartoria Clothing Store: Resolution 723-11 — Approve the General Project Plan
The project involved tenant fit-up of two storefronts on pedestrian Jay Street selling men’s and women’s apparel. The tenant, Grupo Lucano, LLC, plans to improve and upgrade the spaces and make significant investment in inventory. Metroplex participation involves a $15,000 grant and a $50,000 loan. Ms. Jordan moved Resolution 723-11; seconded by Ms. Zalewski-Wildzunas. After brief discussion, Resolution 723-11 was approved.
8. Franklin Street Redesign Grant: Resolution 724-11 Make Application and Adopt the General Project Plan
The project involved making a grant application to the NYS Environmental Facilities Corporation and a matching grant in support of studying redesign of Franklin Street from Vale Park to City Hall. The study is estimated to cost $71,000. It is intended to assess transforming the excessively wide street to more landscaped green space, bike tail and linking Vale Park and Central Park to downtown. Mr. Capovani moved Resolution 724-11; seconded by Ms. Zalewski-Wildzunas. After brief discussion, Resolution 724-11 was unanimously approved.
9. Public Comment: None
10. Board Comment: Mr. Gillen reported on the Governor’s recent formation of Regional Councils.
11. Adjournment: Ms. Jordan moved to adjourn; seconded by Mr. Wall. The meeting adjourned at 6:45 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes September 14, 2011
Present: Ray Gillen, Brad Lewis, Neil Golub, Bob Mantello, Janet Hutchison, Bob Wall, Bill Chapman and Karen Zalewski-Wildzunas
Absent: Ed Capovani, Sharon Jordan and John Mallozzi
Others: Jayme Lahut and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the August 10, 2011 meeting minutes; seconded by Mr. Wall and approved.
2. Treasurer’s Report: Mr. Wall reviewed the Treasurer’s Report ending August 31, 2011 which was distributed prior to the meeting. He noted that the sales tax earned is $127,000 more than forecast and operating expenses are below budget, so there was a surplus to date. Cash on hand totaled $2,478,137. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Ms. Zalewski-Wildzunas and approved.
3. 2011 Parking Infrastructure Improvements (Broadway South Lot): Resolution 725-11 Award Paving Contract
Metroplex opened bids for reconstructing and improving the Broadway South parking lot following National Grid’s soil remediation project. The scope of work involved paving, striping, storm water drainage, lighting and electronic gates. Six firms submitted proposals with the low base bid of $338,665 by Peter Luizzi & Brothers Construction of Albany. The Board previously budgeted $498,000. Mr. Wall moved Resolution 725-11; seconded by Mr. Lewis. Discussion followed regarding whether National Grid intended to start work this fall and whether the bidder’s price would keep until next year. Resolution 725-11 was approved.
4. Foster Building Stabilization Project (Façade Project): Resolution 726-11 — Amend the General Project Plan
Resolution 726-11 added $36,000 to the Foster Project budget for exterior painting, lighting and other modest improvements to make the properties more marketable. The exterior of 204 Lafayette Street remained unchanged as the work focuses on State Street. Mr. Mantello moved Resolution 726-11; seconded by Mr. Lewis. Discussion followed about prospective developers, the status of asbestos abatement and other issues about the facilities. Resolution 726-11 was unanimously approved.
5. 426 State Street Associates, LLC (Mazzone Project): Resolution 727-11 — Amend the General Project Plan
The resolution authorized subordinating the Metroplex loan mortgage and purchase money mortgage to HSBC, which committed $700,000 in permanent financing, and released a right-of-first refusal option and façade mortgage. The bank also may lend an additional $300,000 for tenant fit-up of the remaining unoccupied space at 426 State Street. The Angelo Mazzone and Paul Sciocchetti project now houses two retailers Aperitivo and Tara Global, 6 other businesses employing 60 people, and two luxury apartments. Mr. Lewis moved Resolution 727-11; seconded by Mr. Golub. After brief discussion, Resolution 727-11 was approved (Ms. Zalewski-Wildzunas abstained).
6. Presentations:
Patriot Square — Ray Gillen reported on plans to build an access road connecting Rudy Chase Drive and the Schenectady County Airport with Glenridge Road opening up the area behind Glenville Town Hall for mixed-use development at Patriot Square.
Jay Street / Franklin Street Plan — Jayme Lahut reviewed a recent report for various improvements along pedestrian Jay Street, converting one-way streets to two-way streets for better way-finding, new bike trail Vale Park and City Hall, and expanded on-street parking in and around City Hall.
7. Public Comment: None
8. Board Comment: There was a brief discussion about the paving program undertaken throughout the City during the summer.
9. Adjournment: Mr. Mantello moved to adjourn; seconded by Mr. Lewis. The meeting adjourned at 7:00 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes November 9, 2011
Present: Ray Gillen, Sharon Jordan, Bob Mantello, Janet Hutchison, Bob Wall, Bill Chapman, John Mallozzi and Karen Zalewski-Wildzunas
Absent: Brad Lewis and Neil Golub
Others: Jayme Lahut and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Mantello moved adoption of the September 14, 2011 meeting minutes; seconded by Mrs. Hutchison and approved.
2. Treasurer’s Report: Mr. Wall reviewed the Treasurer’s Report ending October 31, 2011 which was distributed prior to the meeting. He noted that the sales tax receipts continue to rise and expenses are within budget. Cash on hand totaled $2.4 million. Mr. Capovani moved approval of the Treasurer’s Report; seconded by Mrs. Zalewski-Wildzunas and approved.
The Fiscal Audit Committee recommended adoption of the 2012 budget, which reflected growth in sales tax revenue and slightly higher operating expenses due to increased employee pension health insurance costs. The predevelopment budget remained the same as 2011. Ms. Jordan moved Resolution 728-11; seconded by Mrs. Zalewski-Wildzunas. Following discussion, Resolution 728-11 was unanimously approved.
As SEQRA lead agency, Metroplex needed to reconfirm an earlier SEQRA Findings Statement with respect to the recent State Historic Preservation Office’s determination that the existing 440 State Street façade cannot be maintained or preserved thereby allowing full replacement. Mr. Mantello moved Resolution 729-11; seconded by Mr. Wall. After discussion about new building design, Resolution 729-11 was unanimously approved.
5. Transfinder Corporation Relocation Project: Resolution 730-11 — Amend the General Project Plan
Resolution 730-11 reaffirmed Metroplex’s participation in the project including $210,000 in grants and a short-term Pilot and acknowledged the physical alterations contemplated with the project. Mrs. Zalewski-Wildzunas moved Resolution 730-11; seconded by Mr. Wall and unanimously approved.
6. 162-166 Jay Street Renovation Project: Resolution 731-11 — Adopt the General Project Plan
The project involved improving ground-floor retail spaces contained in the two-story building owned by Synthesis at 162 Jay Street. The owners will invest about $49,000 into the former Graubart’s Jewelry and Earthly Delights spaces to make vacant them tenant-ready. The work involved exterior painting, floor refinishing, window replacement and replacement of the HVAC system. Metroplex’s participation involved a $20,000 grant. Mr. Capovani moved Resolution 731-11; seconded by Mrs. Hutchison. Following discussion, Resolution 731-11 was approved.
7. Operating Policies and Procedures: Resolution 732-11 — Re-Adopt Master Goal Plan for Minority / Women-owned Business Enterprises
Resolution 732-11 re-adopted Metroplex’s MWBE policy in accordance with Executive Order 15-A setting goals for workforce participation and dollar value of contracts to minority and women-owned businesses certified by New York State. Ms. Jordan moved Resolution 732-11; seconded by Mrs. Zalewski-Wildzunas. Discussion followed about the complexities of securing designation as State-certified MWBE. Resolution 732-11 was unanimously approved.
8. Presentations: Ray Gillen provided a project update throughout the City and Towns and a look ahead on pipeline projects throughout the County.
9. Public Comment: None
10. Board Comment: Mr. Capovani spoke about a community forum on November 15 at Scotia-Glenville High School regarding the impact of Global Foundries on the area job market, businesses and economy.
11. Adjournment: Mr. Mantello moved to adjourn; seconded by Mr. Capovani. The meeting adjourned at 6:45 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes December 14, 2011
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Bob Mantello, Janet Hutchison, Bob Wall and Karen Zalewski-Wildzunas
Absent: Neil Golub, Bill Chapman, and John Mallozzi
Others: Jayme Lahut, Jim Callander and audience of 4
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Ms. Jordan moved adoption of the November 9, 2011 meeting minutes; seconded by Mr. Mantello and approved.
2. Treasurer’s Report: Mr. Wall reviewed the Treasurer’s Report ending November 30, 2011, which was distributed prior to the meeting, noted that sales tax receipts exceed budget by about $226,000 while operating expenses are under budget. Cash on hand totaled $1.9 million. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mrs. Hutchison and approved.
3. AAA Northway Relocation Project: Resolution 733-11 — SEQRA / No Significant Impact on the Environment
The project involves relocating AAA Northway’s call center and regional headquarters from 112 Railroad Avenue and 10 State Street to downtown Schenectady, where AAA identified 10,965 square feet of rental space on the 3rd floor. The project includes Metroplex’s purchase of AAA’s property. The environmental review classified as an Unlisted Action under SEQRA. Mr. Lewis moved Resolution 733-11; seconded by Mrs. Zalewski-Wildzunas. Following discussion about potential reuses of AAA’s existing properties, Resolution 733-11 was approved.
4. AAA Northway Relocation Project: Resolution 734-11 — Adopt the General Project Plan
With 146,000 members in 10 counties, AAA Northway employs 100+ people with 45 stationed at its offices on 112 Railroad Avenue. Metroplex’s participation involved investing $138,000 to purchase the land and building at 112-114 Railroad Avenue and 10 State Street and a $84,000 moving/relocation grant. Mrs. Zalewski-Wildzunas moved Resolution 734-11; seconded by Ms. Jordan. Resolution 734-11 was unanimously approved.
5. Gateway Park Grant Project: Resolution 735-11 — Adopt the General Project Plan
The Capital District Transportation Committee (CDTC) awarded a planning grant to the City of Schenectady for the redesign of Liberty Park on lower State Street. The City’s Department of Development and CDTC will interview and retail design consultants and manage the study, which is estimated to cost $70,000. Resolution 735-11 authorized $20,000 in matching funds. Mr. Gillen made a presentation on transforming the park, which acts as a key gateway to downtown, adjacent to the Stockade District and close to several construction projects underway. Ms. Jordan moved Resolution 735-11; seconded by Mr. Capovani. Following discussion, Resolution 735-11 was approved.
6. DHA Properties, LLC Project: Resolution 736-11 — Adopt the General Project Plan
Schenectady-based DHA Properties, LLC, a commercial real estate development company, purchased the two-story, 10,000 square foot former Planned Parenthood property at 414 Union Street. Plans call for renovating the first floor as commercial space housing DHA Holding, Inc. executive offices and its affiliated Innogen Business Incubator; the second floor will contain five apartments. Metroplex is providing a $30,000 façade grant. Mr. Lewis moved Resolution 736-11; seconded by Mrs. Hutchison and unanimously approved.
7. Downtown Schenectady Improvement Corporation: Resolution 737-11 — Adopt the General Project Plan
Metroplex participation involved a $178,500 grant for downtown cleanup and beautification services and activities. DSIC provides services seven days a week plus hanging flower baskets, maintaining tree beds and caring for landscaped areas. Ms. Jordan moved Resolution 737-11; seconded by Mr. Mantello. Following discussion about the annual assistance to DSIC, Resolution 737-11 was approved with Mrs. Hutchison abstaining.
8. Draper School Redevelopment / Disabled American Veteran’s Housing Project: Resolution 738-11 — Amend the General Project Plan
One year ago the Board approved a $50,000 grant and a partial exemption from real property taxes for up to 4 months contingent upon the Disabled American Veterans taking possession of the former Draper School in Rotterdam. Now that the dissolution of the Charter School in nearly completed, DAV seeks to extend the duration of the partial exemption from taxes through March 1, 2013 allowing sufficient time for Schenectady County to resolve outstanding tax issues. Mrs. Zalewski-Wildzunas moved Resolution 738-11; seconded by Mr. Lewis. Discussion followed about securing title with DAV and obtaining site control following the County tax foreclosure. Resolution 738-11 was unanimously approved.
9. Downtown Parking Project: Resolution 738-11: Modify and Adopt the Parking Budget
The 2012 parking budget reflects modestly increasing revenues (about 1%) and a decline in expenses from current levels. Parking usage continued to climb in 2011 with a 29% increase in visitor parking and 6% rise in permit-holders. Visitor parking doubled in less than four years. The Fiscal Audit Committee recommended approval of the FY-2012 parking budget. Mr. Mantello moved Resolution 738-11; seconded by Mr. Lewis. Discussion followed about the costs of operating parking facilities. Resolution 738-11 was unanimously approved.
Resolution 739-11 authorized entering into new management services agreements with the City IDA, County IDA, Rotterdam IDA and the Schenectady County Capital Resource Corporation and modifying the compensation for services from a flat rate monthly fee (now $2,000 apiece) to paying 30 percent of fees collected at closing. This was discussed at prior budget meetings. Ms. Jordan moved Resolution 739-11; seconded by Mr. Wall and approved.
10. Professional Services Contract: Resolution 743-11 — Accounting Services Contract
Resolution 743-11 authorized a $48,000 contract with Robert L. Kristel, CPA, P.C. for on-call accounting services, preparing quarterly review statements and year-end financials, bond reporting and assisting with the annual audit. Ms. Jordan moved Resolution 743-11; seconded by Mrs. Zalewski-Wildzunas and unanimously approved.
11. Professional Services Contract: Resolution 741-11: Auditing Services
Resolution 744-11authorized entering into a one year contract with BST & Co. LLP for preparing the 2011 comprehensive audit as required by the Metroplex enabling statute. The price was fixed at $15,400, which is the same as 2010. Staff intends to procure auditing services next summer. Ms. Jordan moved Resolution 741-11; seconded by Mr. Mantello and approved.
12. Professional Services Contract: Resolution 742-11: Parking Lot Maintenance
Last year the Authority awarded a 3-year contract for maintaining and clearing Metroplex parking facilities from snow and debris awarded to Schenectady-based Pachucki Trucking Co. For the second year of the contract, remuneration remained unchanged as 2011: $144,000 per annum plus a heavy snow removal stipend of $100 per truck load and refuse removal on a time and materials basis. Mrs. Hutchison moved Resolution 742-11; seconded by Mr. Mantello and approved.
13. Public Comment — Jim Salengo, Executive Director of the Downtown Schenectady Improvement Corporation (DSIC), thanked the Board for its financial support and listed the successes of the program.
14. Board Comment — Ray Gillen reported on the recent grants for sewer at the Airport Business Park in Glenville, a $479,000 Alco waterfront grant, and the $4 million Restore NY Award for Alco.
15. Adjournment — Mrs. Zalewski-Wildzunas moved to adjourn; seconded by Ms. Jordan. The meeting adjourned at 7:05 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes January 11, 2012
Present: Ray Gillen, Brad Lewis, Bill Chapman, Bob Mantello, Janet Hutchison, Bob Wall, Ed Capovani, John Mallozzi and Karen Zalewski-Wildzunas
Absent: Sharon Jordan and Neil Golub
Others: Jayme Lahut, Jim Callander and audience of 1
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Mantello moved adoption of the December 14, 2011 meeting minutes; seconded by Mr. Wall and approved (Mrs. Zalewski-Wildzunas was absent).
2. Treasurer’s Report: Mr. Wall reviewed the Treasurer’s Report ending December 31, 2011, which was distributed prior to the meeting, noting a surplus in sales tax revenues while operating expenses were below budget. Cash on hand totaled $1,042,460. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mr. Capovani and approved (Mrs. Zalewski-Wildzunas was absent).
3. Draper School Redevelopment / Disabled American Veteran’s Housing Project: Resolution 744-12 — Amend the General Project Plan
The Metroplex Board previously authorized a short-term PILOT exemption through March 1, 2013 and a $50,000 grant to DAV for tax arrearages. Resolution 744-12 increased the grant to $64,000, sufficient to cover the outstanding taxes, which were to be split evenly by Metroplex, DAV and the County. The total outstanding taxes amounted to about $190,000 making Metroplex’s share $64,000. Mr. Mallozzi moved Resolution 744-12; seconded by Mr. Lewis. Following discussion, Resolution 744-11 was approved (Mrs. Zalewski-Wildzunas was absent).
4. Hampton Inn Project: Resolution 745-12 — Amend the General Project Plan
In 2006 when the Board authorized a PILOT for the Hampton Inn, the Metroplex statute limited the exemption for lodging facilities to a 5-year term. In 2008, amendments to the statute extended the duration of the exemption to 10 years. Resolution 745-12 added two years to the PILOT term. Mr. Gillen noted that the Hampton project generated more than $1.5 million in bed taxes, sales taxes and real property taxes in the last four years. Mr. Capovani moved Resolution 745-12; seconded by Mr. Lewis. Discussion followed regarding the PILOT and the Empire Zone program. Resolution 745-12 was approved. (Mrs. Zalewski-Wildzunas was absent).
5. Patriot Development Project (Phase I): Resolution 746-12 — SEQRA
Resolution 746-12 addressed the state-mandated environmental review by affirming the findings of the Town of Glenville Planning and Zoning Commission, which found the project to be a Type I Action with no significant impact on the environment following completion of a coordinated review of the project pursuant to SEQRA. Phase I of Patriot Square represented a mixed-use development project with 13 apartment buildings (156 units) plus a clubhouse. The project will extend Rudy Chase Drive by an additional 2,400 linear feet and add municipal water and sanitary sewer services. Site enhancements include attached parking and surface lots, sidewalks, green space, street trees and other amenities. Mr. Capovani moved Resolution 746-12; seconded by Mr. Lewis and approved.
6. Patriot Square Development Project (Phase I): Resolution 747-12 — Adopt the General Project Plan
The cost of Phase 1 is estimated at $8.3 million. Resolution 747-12 authorized Metroplex participation in the form of a 5-year partial exemption from real property taxes that sets aside $50,000 in annual property taxes to pay for road and related infrastructure costs. Annual taxes were estimated at $273,000 per annum. Mr. Capovani moved Resolution 747-12; seconded by Mr. Wall. Following discussion about the project, Resolution 747-12 was approved.
7. Public Comment — None
8. Board Comment — Mr. Capovani spoke highly of the Stratton Air Force base and its positive effects on the community. He then made a motion to go into executive session; Mr. Gillen seconded and the Board convened in executive session at 6:30 p.m. At 7:10 Mrs. Zalewski-Wildzunas moved to return to public session; seconded by Mr. Mantello and approved. Mr. Gillen noted that there were no votes taken during the private session.
9. Adjournment — Mr. Lewis moved to adjourn; seconded by Mr. Wall. The meeting adjourned at 7:15 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes March 14, 2012
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Neil Golub, Bill Chapman, Janet Hutchison, Bob Wall, John Mallozzi and Karen Zalewski-Wildzunas
Absent: Ed Capovani and Bob Mantello
Others: Jayme Lahut, Jim Callander and Robert Kristel, CPA
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the January 11, 2012 meeting minutes; seconded by Mrs. Hutchison and approved.
2. Treasurer’s Report — Robert L. Kristel, CPA, presented the Authority’s financial statements for the year ending December 31, 2011, which were distributed to the Board in advance of the meeting. He specifically reviewed the balance sheet, revenue and expense statement, cash flow statement and notes. The statements are prepared in accordance with generally accepted accounting principles and form the basis for the annual audit that is nearing completion by BST. Following the presentation and question / answer period, Mrs. Zalewski-Wildzunas moved the Treasurer’s Report; seconded Ms. Jordan and approved.
3. Annual Meeting: Resolution 748-12 — Election of Officers
In accordance with the By-Laws, Resolution 748-12 appointed Sharon Jordan as Secretary and Bob Wall as Treasurer. Mr. Golub moved Resolution 748-12; seconded by Mr. Chapman and approved.
Metroplex annually must adopt a mission statement and benchmarks. The Governance Committee reviewed the mission statement and related materials and recommended adoption. Ms. Jordan moved Resolution 749-12; seconded by Mrs. Zalewski-Wildzunas and approved.
Metroplex annually must readopt its Cash Management and Investment Policy, which follows the NYS Comptroller guidelines for municipalities and authorities. The 2011 Investment Report must be filed annually is required with the Authority Budget Office. Resolution 750-12 reauthorized the policy and accepted the 2011 Investment Report. Mrs. Zalewski-Wildzunas moved Resolution 750-12; seconded by Mr. Wall and unanimously approved.
The Procurement Guidelines, which requires annual review and reauthorization, were unchanged from prior years. Mr. Lewis moved Resolution 751-12; seconded by Ms. Jordan and unanimously approved.
7. Policy Compliance: Resolution 752-12 — Adopt Property Report and Reauthorize Real Property Disposition Policy
Resolution 752-12 reauthorized the Real Property Disposition policy, reaffirmed the Executive Director as compliance officer, and accepted the annual report listing all property held by and/or disposed during 2011. Mr. Lewis moved Resolution 752-12; seconded by Mrs. Zalewski-Wildzunas and approved.
8. Policy Compliance: Resolution 753-12 — Reauthorize Sale and Reporting of Bonds and Notes Policy
Metroplex must annually reaffirm its policy regarding procurement of services in connection with the issuance of bonds, which Metroplex follows for all bond transactions. The guidelines were established by the NYS Comptroller, so no changes were made. Mr. Golub moved Resolution 753-12; seconded by Mrs. Zalewski-Wildzunas. Following brief discussion, Resolution 753-12 was approved.
Resolution 754-12 listed two projects where all work has been completed and Metroplex funds remain unspent. For purposes of the 2011 audit, the Board must acknowledge the recaptured of $9,269, which may be dedicated to new projects. Mr. Golub moved Resolution 754-12; seconded by Mrs. Hutchison and approved after brief discussion.
10. Project Reconciliation and Accounting: Resolution 755-12 — Allocate Additional Funds for Unbudgeted Project Expenditures
Resolution 755-12 identified three projects completed in 2011 where the total expenses incurred exceeded Board authorization. For purposes of the 2011 audit, the Board must acknowledge allocating additional $38,727 for the projects. Mr. Wall moved Resolution 755-12; seconded by Ms. Jordan. Following discussion, Resolution 755-12 was approved.
11. Public Comment — None
12. Board Comment —The April Board meeting was rescheduled for April 18. Mr. Gillen provided project updates.
13. Adjournment — Mrs. Zalewski-Wildzunas moved to adjourn, seconded by Ms. Jordan. The meeting adjourned at 6:40 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes April 18, 2012
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Ed Capovani, Bill Chapman, Janet Hutchison, Bob Wall, Bob Mantello and Karen Zalewski-Wildzunas
Absent: Neil Golub and John Mallozzi
Others: Jayme Lahut, Jim Callander and audience of 3
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mrs. Zalewski-Wildzunas moved adoption of the March 14, 2012 meeting minutes; seconded by Ms. Jordan and approved.
2. Treasurer’s Report — Mr. Wall reviewed the Treasurer’s Report for the period ending March 31, 2012 which was distributed prior to the meeting. Cash on hand was $2,011,094. Mr. Lewis moved to accept the Treasurer’s Report; seconded by Ms. Jordan and approved.
3. 2011 Audit: Resolution 756-11 — Adopt Audit for the Fiscal Year Ending December 31, 2011
Jayme Lahut reported that the Fiscal Audit Committee recommended adoption of the 2011 audit and noted the audit was clean and unqualified. Mr. Wall moved Resolution 756-12; seconded by Mr. Mantello and approved.
4. Electro Fiber Technologies, LLC Expansion Project: Resolution 757-12 — Adopt the General Project Plan
The $3.25 million project involved leasing the former V-Stream Building in Rotterdam (with an option to buy), renovating, equipping and consolidating specialty metalized fiber production now located in Ohio and Connecticut. EFT’s parent company is publicly traded on the London Stock Exchange and was founded in 1845. Plans call for employing 30+ people and additional investment over the next several years. Metroplex’s participation involves a $100,000 grant for interior improvements and/or production equipment. Ms. Jordan moved Resolution 757-12; seconded by Mr. Lewis. After brief discussion about the environmental review, Resolution 757-12 was approved.
5. Transfinder Corporation Project: Resolution 758-12 — Amend the General Project Plan
Resolution 758-12 acknowledged NBT Bank construction / permanent loans, increased owner equity and reaffirmed Metroplex’s participation in the project. Mr. Mantello moved Resolution 758-12; seconded by Mr. Lewis and approved.
6. Alco Redevelopment Project: Resolution 759-12 — Amend the General Project Plan
The resolution authorized entering into an agreement with the City of Schenectady to assist in administering the $4 million Restore NY grant awarded to the City in 2009. With the project moving forward, Metroplex staff will assist in documentation collection, MWBE compliance and making requisitions. Mrs. Zalewski-Wildzunas moved Resolution 759-12; seconded by Mr. Lewis. Discussion followed about constructing a 150-room hotel and upscale residence. Resolution 759-12 was approved unanimously.
Metroplex’s parking consultants recommended upgrading the Amano McGann hardware and software systems at the Garage at a cost of $40,617 to remain in compliance with new standards for credit card processing. Resolution 760-12 authorized purchasing the necessary hardware and software from Access Technologies Integrated, Inc. via single-source purchase, because the firm is the only local dealer for Amano McGann products. Ms. Jordan moved Resolution 760-12; seconded by Mrs. Zalewski-Wildzunas. After brief discussion, Resolution 760-12 was approved.
8. Public Comment — two members of the Mont Pleasant Neighborhood Association spoke about the condition of the Crane Street commercial district and cleaning up graffiti in the City.
9. Board Comment — Mr. Capovani spoke about the Town of Glenville’s economic development event at the Lighthouse Restaurant on April 19 that is open to developers and the public.
10. Adjournment — Mrs. Zalewski-Wildzunas moved to adjourn, seconded by Ms. Jordan. The meeting adjourned at 6:35 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes May 9, 2012
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Ed Capovani, Bill Chapman, Janet Hutchison, Bob Mantello and Karen Zalewski-Wildzunas
Absent: Bob Wall, Neil Golub and John Mallozzi
Others: Jayme Lahut and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Mantello moved adoption of the April 18, 2012 meeting minutes; seconded by Mrs. Zalewski-Wildzunas and approved.
2. Treasurer’s Report — Jayme Lahut reviewed the Treasurer’s Report for the period ending April 30, 2012 which was distributed prior to the meeting. He noted that income is ahead of budget while operating expenses are running below budget. Cash on hand was $1,952,662. Ms. Jordan moved to accept the Treasurer’s Report; seconded by Mrs. Zalewski-Wildzunas and approved.
3. 308 Union Street Façade Project: Resolution 761-12 — SEQRA Negative Declaration
Resolution 761-12 classified the project as an Unlisted Action under SEQRA, and determined no significant effect on the environment. The project involved the purchase and redevelopment of the former Acme Press building on the southeast corner of Union Street and Broadway. A local investor formed Zachen Properties LLC to convert the 8,000 square foot structure as a restaurant and beer garden. Interior renovations have largely been completed as well as partial exterior repairs including the addition of a deck and pavilion, ADA accessible ramps, repointing brick, applying new stucco, new entrances and adding/replacing windows. The project adds 25 full-time and part-time jobs. Mr. Lewis moved Resolution 761-12; seconded by Mr. Capovani. After brief discussion about the project, Resolution 761-12 was approved.
4. 308 Union Street Façade Project: Resolution 762-12 — Adopt the General Project Plan
Metroplex participation involved a façade grant of up to $60,000 on a dollar-for-dollar match with respect to the exterior improvements in the project. Mr. Lewis moved Resolution 762-12; seconded by Ms. Jordan. Following discussion, Resolution 762-12 was approved.
5. Trailways Façade Project: Resolution 763-12 — Adopt the General Project Plan
Adirondack Trailways is prepared to redesign the bus station façade at 22 State Street by sharing the cost of architectural design and façade improvements on a dollar-for-dollar basis with Metroplex. SRG Architects will develop plans with Trailways with $10,000 budgeted for design plans and up to $100,000 for exterior improvements including new lighting, signage, awnings and landscaping. Trailways intends to upgrade the interior space. The Metroplex grant may not exceed $55,000. Mr. Chapman moved Resolution 763-12; seconded by Mr. Lewis. After discussion, Resolution 763-12 was unanimously approved.
The project involved extending sanitary sewer service and water main along Schenectady County rights-of-way opening up 30+ acres for economic development at the southwesterly side of the Schenectady County Airport. Schenectady County was awarded a $284,090 DOT grant for the infrastructure project which requires a 10 percent match or up to $31,565 from Metroplex. The total project cost is budgeted at $315,655. Several local businesses benefit from the project including Richmor Aviation, Tanski Hangar, the County-owned ice rink and other businesses on Airport Road. The infrastructure makes several adjoining sites shovel-ready. Resolution 764-12 classified the project as an Unlisted Action and determined having no significant effect on the environment. Mr. Capovani moved Resolution 764-12; seconded by Mr. Mantello and approved.
7. Airport Technology Park: Resolution 765-12 — Adopt the General Project Plan
Mr. Capovani moved Resolution 765-12, which authorized a grant of up to $31,565 to Schenectady County; seconded by Mrs. Zalewski-Wildzunas. Following discussion about the precise location of the installations, Resolution 765-12 was unanimously approved.
8. Program Management Services: Resolution 766-12 — Extend Contracts for Construction-Related Services
Resolution 766-12 extended the contracts with four firms (C.T. Male, UW Marx, Bovis Lend Lease and TW&A) for program management services, technical services and construction monitoring services. The resolution sets TW&A’s compensation through April 30, 2013 at $108,000 for regular project overview meetings, construction oversight on all Metroplex projects and assisting with Alco and Erie Blvd. reconstruction. Ms. Jordan moved Resolution 766-12; seconded by Mr. Lewis. Discussion followed. Resolution 765-12 was approved with 7 in favor and one opposed (Mr. Chapman).
9. Public Comment — None
10. Board Comment — There was a general discussion about retail and housing development in the downtown.
11. Adjournment — Ms. Jordan moved to adjourn, seconded by Mr. Capovani. Meeting adjourned at 6:40 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes June 13, 2012
Present: Ray Gillen, Brad Lewis, Bob Wall, Sharon Jordan, Ed Capovani, Bill Chapman and Janet Hutchison
Absent: Bob Mantello, Neil Golub, John Mallozzi, and Karen Zalewski-Wildzunas
Others: Jayme Lahut, Jim Callander and an audience of 1
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Ms. Jordan moved adoption of the May 9, 2012 meeting minutes; seconded by Mr. Capovani and approved (Mr. Wall abstained).
2. Treasurer’s Report — Mr. Wall reviewed the Treasurer’s Report for the period ending May 31, 2012 which was distributed prior to the meeting. He noted that income is $155,000 above budget and expenses are running below budget. Cash on hand was $1,579,926. Mr. Lewis moved to accept the Treasurer’s Report; seconded by Mr. Chapman and approved.
3. Madison Handbags Relocation Project: Resolution 767-12 — Adopt the General Project Plan
Madison Handbags purchased the former Girl Scouts building at 131 State Street, which allows for expanded production and a retail outlet for this fast-growing company. Renovations included preparing production space for sewing, inventory and distribution; and exterior façade improvements including, lighting, awnings and display windows. Metroplex participation involved a $50,000 grant for interior renovations and façade improvements. Mr. Lewis moved Resolution 767-12; seconded by Mr. Capovani. Following brief discussion, Resolution 767-12 was approved.
4. Alco Redevelopment Project: Resolution768-12 — Amend the General Project Plan
Resolution 768-12 extended the partial real property tax exemption for the Alco Redevelopment Project by an additional two years at $40,000 per year. Once the construction phase begins next year, it is anticipated that a longer term IDA Pilot agreement will be formulated. Although the site is much improved with the demolition of blighted buildings, it generates virtually no income to the developer, Maxon Alco Holdings, LLC. Ms. Jordan moved Resolution 768-12; seconded by Mr. Lewis. Resolution 768-12 was approved after brief discussion.
5. Downtown Fix-up Program: Resolution 769-12 — Adopt the General Project Plan
Resolution 769-12 allocated $152,000 to replace sidewalks, curbing, and handicap accessible curb cuts along the west side of North Broadway from Liberty Street to Union Street. In addition funds were set aside covering modest repair and replacement of settled pavers, broken sidewalks, damaged bollards and the like in and around the Proctors Block. Mr. Wall moved Resolution 769-12; seconded by Mrs. Hutchison. Discussion followed about the program and on-going work on lower State Street. Resolution 769-12 was unanimously approved.
6. 2012 Bond Refunding: Resolution 770-12 — Hold a Public Hearing
The Fiscal Audit Committee has recommended consolidating and refunding bonds issued in 2001 and 2004. At current interest rates, the refunding affords significant savings by reducing debt service payments and preserving cash for projects. Resolution 770-12 called for the statutorily required public hearing with respect to issuing bonds pursuant to §2655(2) of the enabling act. Mr. Lewis moved Resolution 770-12; seconded by Mr. Capovani. After discussion, Resolution 770-12 was unanimously approved.
7. 2012 Bond Refunding: Resolution 771-12 — Retain Bond Underwriter
The Fiscal Audit Committee recommended engaging RBC Capital Markets to act as bond underwriter for the 2012 Bond Refunding. In April, an RFP was disseminated to 11 firms soliciting qualifications and fee quotes. Of the six proposals received, RBC Capital Markets offered the second lowest pricing, has a strong record representing Metroplex, and was the only company with a capital District office. Ms. Jordan moved Resolution 771-12; seconded by Mr. Wall and approved.
8. 2012 Bond Refunding: Resolution 772-12 — Retain Bond Counsel
Authority staff recommended retaining Hiscock & Barclay, LLP (Connie Cahill), the same firm that represented Metroplex for its 2008 and 2010 bond issuances at an estimated cost of $22,500 including out-of-pocket expenses. Mrs. Hutchison moved Resolution 772-12; seconded by Mr. Lewis and approved.
9. 2012 Bond Refunding: Resolution 773-12 — Retain Financial Advisor
Fiscal Advisors & Marketing, Inc. (Jeanine Caruso) has represented Metroplex and performed capably as financial advisor for every bond issue. Under the Authority’s Procurement Policy, the firm is eligible to represent Metroplex since it was retained for the 2008 and 2010 bond issuances following a competitive bidding process. Fiscal Advisors retainage is $28,500. Ms. Jordan moved Resolution 773-12; seconded by Mrs. Hutchison. Following discussion about the roles of the various firms involved in the bond process, Resolution 773-12 was approved.
10. Public Comment — None
11. Board Comment — Ray Gillen provided an overview of recent prospects interested in Hillside Park, Airport Park, and Rotterdam Industrial Park.
12. Adjournment — Ms. Jordan moved to adjourn; seconded by Mr. Lewis; meeting adjourned at 6:30 p.m.
Metroplex grants approved in 2010-2011 2010 = $8,599,491 2011 = $14,913,780 They said "thanks suckers!"
Public Comment-NONE. If you really want to hear our views you haven't done nothing. Sharon Jordan is still on it? What private business did she ever run? You can't rid our public authorities of these DEM blood suckers.
THANK YOU REPUBLICAN HUGH FARLEY FOR THIS WONDERFUL GIFT CALLED METROPLEX. You are why I vote Republican and why people like Ron Paul need to be purged from the party. We need somebody like Hugh and Jimmy Tedisco looking out for the taxpayer.
Hugh and Bob Farley did create this monster. Old news. DEMS have feasted on it for the past seven years. Where is the DEM plan to dismantle this Farley monster? lol. More DEM friends and family need a tax exemption from McCheese's insane tax posse.
Hugh and Bob Farley did create this monster. Old news. DEMS have feasted on it for the past seven years. Where is the DEM plan to dismantle this Farley monster? lol. More DEM friends and family need a tax exemption from McCheese's insane tax posse.
A little more recent news from Senator Farley's Senate Web Page. Our 3 Republican State Reps don't seem to have the same opinion and actually INCREASED the spending cap.
Quoted Text
Tedisco, Farley, Amedore Laud New Metroplex Law
Posted by Hugh T. Farley on Friday, August 8th, 2008
Share This:Assembly Minority Leader James Tedisco (R,C,I-Schenectady-Saratoga), Sen. Hugh T. Farley (R,C-Schenectady) and Assemblyman George Amedore (R,C-Rotterdam) today praised Gov. David A. Paterson for signing the Schenectady Metroplex Development Authority Act, which increases the authority’s bonding cap from $50 million to $75 million.
“Metroplex has created jobs, lowered taxes and spurred economic development throughout Schenectady County,” Tedisco said. “Since its inception in 1998, countless projects have come to fruition in our community. We now have 31 new commercial buildings on our tax rolls and 23 new companies have relocated in our county. I applaud Gov. Paterson for recognizing the importance of this initiative, and thank him sincerely for signing my bill into law.”
“During the past ten years, Metroplex has helped to change the face of Schenectady, bringing new jobs, new investment, and a new sense of optimism,” Farley said. “This positive economic development was what I predicted when I created Metroplex, and I’m pleased that the Governor agrees with me and has signed into law this expansion of Metroplex’s investment authority. The lawmakers noted that Metroplex has transformed Schenectady’s downtown with improvements to the historic Proctors Theatre and new construction including a hotel, a multi-screen movie theatre and state-of-the-art office space. Additionally, Metroplex funding is responsible for the RailEx facility in Rotterdam, creation of 1,400 new jobs at the Air National Guard base in Glenville and the $30 million expansion of GE Global Research in Niskayuna.
"It was heartening to see local and state leaders working on a bipartisan basis to reach an agreement to continue the work of Metroplex,” Amedore said. “We all need to work together to create economic development and Metroplex is one vital tool to help business and infrastructure in this county. I was pleased that elements of the legislation were aimed to ensure Metroplex is not a political entity, and furthermore am anxious to see the findings of the state audit; because taxpayers deserve more accountability and transparency with their tax dollars.”
The new law also prohibits elected county officials, members of the Legislature and political party chairs from gaining employment with the Metroplex board.
Beneficiary - a person or group that receives benefits, profits, or advantages.
Benefit - something that is advantageous or good; an advantage
Profit - returns, proceeds, or revenue, as from property or investments.
Advantage - 1. any state, circumstance, opportunity, or means specially favorable to success, interest, or any desired end; 2. benefit; gain; profit; 3. superiority or ascendancy; 4. a position of superiority.
Authority Beneficiaries: The residents and taxing jurisdictions of Schenectady County
Really?
What benefits, profits, advantages are the RESIDENTS of the county getting?
Perhaps DV's "thesis" will explain how higher taxes and plummeting property values are a benefit for the residents.
Perhaps DV's "thesis" will explain what profits the residents have received. We are all certain that DV will post on this thread and explain how it is a "profit" when people buy homes which plummet in value.
Perhaps DV's "thesis" will explain how increasing crime, high unemployment, and having the HIGHEST taxes is an advantage.
Yes, we all will be waiting for him to explain the results of metroplex are benefits, profits, and advantages for the residents.
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.
A little more recent news from Senator Farley's Senate Web Page. Our 3 Republican State Reps don't seem to have the same opinion and actually INCREASED the spending cap.
They must have been maxed out, so they raised the debt that they could put us into, by 50%
Anyway here are some more Metroplex fun facts:
In addition to the massive Metroplex Grant giveaway program they also gave out loans totalling over $12,352,872.00
Most of the loans were 5% interest.
Many others were interest free.
I guess tax exemptions and massive grant money wasn't enough, they had to help these poor starving businesses further by letting them borrow our money too.
More Perreca’s Cafe The Authority has approved a loan of $165,167, and related expenses of $27,000 for this project.
Highbridge Broadway, repayable over a 20-year period, due in monthly installments of principal of $729, matures November 2019, with a balloon payment for the remaining balance, interest free (n) $234,796
Logical Net, repayable over a 10-year period, due in monthly installments of $1,448, including interest at 3%, matures October 2015 (p) $141,278
Marcella's Distribution Center, repayable over a 20-year period, due in monthly installments of $3,163 beginning January 2015, including interest at 5%, matures December 2029 (q) $800,000
More Perreca's Café (31 N. Jay Street, LLC), repayable over a 15-year period, due in monthly installments of $1,455 beginning September 2011, including interest at 5%, matures August 2024 (q) $323,238
Parker Inn, repayable over a 15-year period (20-year amortization), due in monthly installments of principal ranging from $1,491 to $4,348, matures October 2018, with a balloon payment for the remaining balance, interest free (r) $1,367,824
Paul Mitchell School (PM Schenectady, LLC), repayable over a 15-year period, due in monthly installments of $1,977 beginning March 2011, interest free until payments begin and 5% thereafter, matures June 2021, with a balloon payment for the remaining balance. $489,471
Proctor's Theatre, repayable on demand, interest free (t) $450,000
Rotterdam Ventures, Inc., repayable over a 5-year period, due in monthly installments of $767, including interest at 5%, matured March 2011 - $1,535
Schenectady Family Health Services, repayable over a 20-year period, due in monthly installments of $3,566, matures February 2026, interest free (u) $1,743,785
Schenectady Hotel, LLC, repayable over a 19-year period, due in monthly installments of $8,772, matures March 2027, interest free (c) $3,315,789
Synthesis Architects, repayable over a 15-year period, due in monthly installments of principal of $972, matures October 2018, interest free (v) $172,083
Tailwind Associates, repayable over a 10-year period, due in monthly installments of $483, including interest at 3%, matures December 2015 (w) $48,570
Town Homes of Union Square, LLC, repayable over a 15-year period, due in monthly installments of $1,169 beginning January 2015, including interset at 5%, matures December 2026, with a ballon payment for the remaining balance (x) $200,000 -
Utech Products, repayable over a 15-year period (20-year amortization), due in monthly installments of principal ranging from $2,708 to $2,833, matures May 2019, with a balloon payment for the remaining balance, interest free (y) $949,502
Van Dyck Restoration (True Griffin, LLC), repayable over a 15-year period, due in monthly installments of $1,036 beginning March 2014, interest free until payments begin and 3% thereafter matures February 2029 (y) $300,000
Villa Italia, repayable over a 20-year period, due in monthly installments of $1,667, matures November 2025, interest free (z) $576,668
Vincenzo Montesano d/b/a Vincenzo Moda, repayable over a 7-year period, due in monthly installments of $707 beginning February 2012, including interest at 5%, matures January 2019 $50,000 -
Zone 5 Regional Law Enforcement Training Center, repayable over a 15-year period (18-year amortization), due in monthly installments of principal of $4,306, beginning September 2007, with a balloon payment for the remaining balance, interest free, matures August 2022 (aa) $1,188,333
And let's not forget that these Metroplex loans are non-secured.....leaving the taxpayers hung out to dry when the bankruptcy of many of these businesses happens.
Logged
Public Comment-NONE. If you really want to hear our views you haven't done nothing. Sharon Jordan is still on it? What private business did she ever run? You can't rid our public authorities of these DEM blood suckers. 
