Well now that the plex is overseeing the rotterdam IDA, we won't have to worry about these foolish apts getting any tax breaks any more. Perhaps rotterdam will be seeing more gin mills and non profits popping up! Perhaps Phillip 'cancer stick' will suggest a theater or two or three.....perhaps? Ahhhhh.....I have a vision of a theatre where the capital plaza is located...hmmmmm!

Rotterdam won't be seeing much, take my word for it.

I hope not much of gin mills and theaters.

Actually there is no room left for too much of anything. I think the time has come (over due) to update what is already here.

who is the developer of the Long Pond(LUXURY APARTMENTS)......certainly they bit off more than they could pocket..........shortsighted/no vision cheep half done 'visionaries'........

Surprise has nothing to do with these developers and their own personal fibers of their beings.......

The Rotterdam Posse' has struck again,,,,without vision/plans/future/foresight.......

Quoted from senders

who is the developer of the Long Pond(LUXURY APARTMENTS)......certainly they bit off more than they could pocket..........shortsighted/no vision cheep half done 'visionaries'........
...

The developer is/was CW Builders.  The same dudes that were involved with the BI land behind Al Constantino Drive that was cleared and  never developed!   This was brought up during the public hearing on the BI rezone recently.  

CW was also the builder on the Country Walk Estates homes...I've heard that many of the homeowners in that development had problems after they closed and the builder was slow to respond, if at all!

The Long View apts the one by the mall?  Their prices are too high for 1-2 BRs.

Quoted Text

ROTTERDAM
IDA to enforce apartments’ PILOT penalty clause
Complex owners must pay debt by end of September
BY JUSTIN MASON Gazette Reporter

    Long Pond Village has until the end of September to settle all outstanding debts on its payment-inlieu-of-taxes agreement, or face a potential dissolution of the 10-year agreement.
    Apartment complex owner CW Builders is required to pay $202,842 by Sept. 30, according to a forbearance agreement reached with the Rotterdam Industrial Development Agency last month. In total, the company will pay $46,401 in penalties and interest for not paying the full balance of the PILOT on time.
    As part of the forbearance agreement, the company waived any right to contest the amount owed. Ray Gillen, the county’s commissioner of economic development and planning, said the arrangement with Long Pond demonstrates the Rotterdam IDA’s resolve in holding companies accountable for their tax agreements in the town.
    “We are vigorously enforcing the PILOT and the penalty provisions,” he said Wednesday. “We have a signed agreement with the owners to enforce the penalty clause.”
    The firm only recently completed work on the 192-unit development and is awaiting certifi cates of occupancy on the fi nal two buildings finished last month. Aside from those buildings, Gillen said Long Pond Village has about 80 percent of its apartments leased.
    “They’re confident in their ability to lease out their remaining units,” he said.
    Under the original PILOT agreement ratified in September 2007, Long Pond Village was to pay full taxes on its 26 acres of West Campbell Road and only partially on its improvements, including eight three-story apartment buildings, six garages, a pool and a clubhouse. The company agreed to pay on half the assessed value of the improvements during the fi rst year of the agreement this year, with that amount increasing by 5 percent each subsequent year.
    Last year, Rotterdam valued the property at roughly $8.6 million. The land alone was assessed at $1.2 million.
    The PILOT agreement was reached during the tenure of former Rotterdam IDA chairman Art Brassard, who viewed it as a the final piece of financing needed to get the sprawling apartment complex built after years of delay. At the time, town officials were hoping the large-scale residential development would help reinvigorate the stalled commercial corridor along the West Campbell Road. ...............................>>>>.....................>>>>....................http://www.dailygazette.net/De.....r00800&AppName=1

Quoted from Admin

"The firm only recently completed work on the 192-unit development and is awaiting certifi cates of occupancy on the fi nal two buildings finished last month. Aside from those buildings, Gillen said Long Pond Village has about 80 percent of its apartments leased."

             Who is Ray G. trying to kid.  Aside from the two buildings awaiting a CO, the remaining 6 bldgs. only have just over 50% occupancy rating.  If this percentage holds true, the entire complex should have about a 50% occupancy rating, leaving half of the 192 units vacant!  So they won't meet their occupancy needs, reduced revenue, PILOT penalty, and eventual foreclosure!  Nice mess to leave on top of the aquifer . . . .

Quoted Text

ROTTERDAM
Company pays $245K owed in lieu of taxes
BY JUSTIN MASON Gazette Reporter

    The owners of Long Pond Village have made good on the outstanding balance of their paymentin-lieu-of-taxes agreement with the Rotterdam Industrial Development Agency.
    In total, CW Builders paid $244,788, including interest and penalties, to Schenectady County, Rotterdam and the Schalmont Central School District this week. This satisfies an agreement reached with the IDA earlier this year, after the company failed to make any payments on Long Pond’s somewhat controversial PILOT agreement earlier this year. ....................>>>>............>>>>...............http://www.dailygazette.net/De.....r01201&AppName=1

I hope they dont ambulance rides via REMS for this......I honestly dont understand the 'in lieu of'.....I F'EN bought my home in Rotterdam....no F'EN
'in lieu of' paying my F'EN taxes.....what a bunch of dumba$$ idiots......it's F'EN housing......no F'EN taxable base......sewers?????? Dumba$$es

D!ckheads....should I keep going here? Am I the only one pissed off here??????????....really?.....this is OK with the sheeple of the town????
honestly??????......how pathetic......

Long Pond Village is 80% occupied ... that is hardly a crisis.

You folks really need to take a laxative and lighten up.

Quoted from DemocraticVoiceOfReason

Long Pond Village is 80% occupied ... that is hardly a crisis.

You folks really need to take a laxative and lighten up.

80% of the finished apartment buildings...not 80% of the entire complex.   There is a  big difference since they are still constructing more buildings.
And how can you be certain that the 80% statement is valid?   I heard the attorney AB go wild during a meeting on the Larned apartments because someone quoted the Long Pond website which stated that the percentage was much less than that!    Any property that is up for sale isn't going to give the facts unless they actually have a buyer.

Quoted from clubhouse

80% of the finished apartment buildings...not 80% of the entire complex.   There is a  big difference since they are still constructing more buildings.
And how can you be certain that the 80% statement is valid?   I heard the attorney AB go wild during a meeting on the Larned apartments because someone quoted the Long Pond website which stated that the percentage was much less than that!    Any property that is up for sale isn't going to give the facts unless they actually have a buyer.

80% of the finished units is still a good number to be rented out.  

oh yeah.....and ROTTERDAM HAS THE INFRASTRUCTURE TO SUPPORT ALL THIS MFRH.......poor poor poor planning for us....shame shame shame.....the gumbas without future vision....they dont care
they will be flying south soon.....I say dont let the door hit you on the a$$......