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.            

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          Anyone hear anything on the above??  Sewers??

they have been there for a couple of years already.....yes?
i know folks who have gone there to apply for a job there.

Quoted Text

New Business For V-Stream  
Date Posted: February 15, 2012, 9:35am
Quoted Text

ROTTERDAM
British firm picks Burdeck building
30 jobs expected from paper company in old Vstream site
BY BETHANY BUMP Gazette Reporter

    A British specialty paper manufacturer announced Tuesday it is relocating its U.S. headquarters and consolidating operations in a vacant industrial warehouse in Rotterdam.
    Techfibers Inc. chose the site at 679 Mariaville Road for its operations after signifi cant growth in the past few years prompted the company to seek a location where it could easily expand. And the Rotterdam site is in the midst of a growing technological, educational and industrial region ripe for the company to draw on, offi cials said.
    The move will create 30 jobs in the area, including hourly manufacturing positions, chemist and research positions and administrative positions, said Schenectady County spokesman Joe McQueen. The company declined to release expected salaries for the jobs.
    “It will really run the gamut,” McQueen said, “and they will be hiring as many local people as they can.”
    The company is owned by England-based James Cropper PLC and is one of the world’s largest specialty papers and advanced materials manufacturers. It’s been in operation since 1845. Its main manufacturing subsidiary, Electro Fiber Technologies LLC, creates metal-coated carbon fiber products that are sold to the automotive, rail, aerospace, marine, electronics and defense industries, among others. Some of its customers include 3M, Lockheed Martin and United Technologies.
    The Metroplex Development Authority has worked with Techfi bers Inc. for the past eight months after it heard the company was looking at communities that would be ideal for relocation.
    “We showed them a number of buildings in the community and they liked that building,” said Metroplex Chairman Ray Gillen of the 52,000-square-foot building in Rotterdam, located in the Burdeck Street Business Corridor near the interchange of I-88 and I-90.
    The building has been vacant for nearly fi ve years, after its former tenant, Vstream Manufacturing, liquidated in March 2007. The site has room for expansion on about 12.5 acres and parking for 135 cars, which county offi cials said was a draw for Techfi bers.
    The company signed a 10-year lease with an optional fi ve-year extension and an option to purchase the building, which is currently owned by Douglas Zak, president of Zak Inc. in Green Island. The entire relocation process could take up to 18 months but McQueen said manufacturing operations should be under way by May and the site is expected to be fully operational by fall.
    The company’s sites in England will remain, but its U.S. headquarters and subsidiaries will be relocated to Rotterdam. These include Technical Fibre Products Inc. in Newburgh, Electro Fiber Technologies LLC in Stratford, Conn., and Metal Coated Fibers Inc., in Cincinnati, Ohio.
STRONG GROWTH
    The company’s 500 percent sales growth the past few years set the stage for its move to Rotterdam.
    “They indicated that right now the other facilities are very small and do not have the ability for growth,” said McQueen. “So they knew they were going to have to consolidate the facilities into one location to better service their supply chain.”
    Techfibers considered sites in Texas, Ohio, Massachusetts, New York and Connecticut and received help from real estate service CBRE, which coordinated the site selection process.
    “We have been especially impressed with Schenectady County’s business-friendly initiatives and New York state’s commitment to develop a world-class technology center in the region,” said George Quayle, director of James Cropper PLC, the company’s owner, in a news release issued Tuesday.
    “We believe that the region’s technology base, both industrial and education, provide possible business synergies, as well as a population to draw talent from,” he said.
    Techfibers will make an initial $3 million investment into the relocation. Metroplex is providing a $100,000 grant toward project costs, which mostly include building upgrades, Gillen said......................>>>>...................>>>>................. http://www.dailygazette.net/De.....r00900&AppName=1

         I must have missed that press release, and couldn't find it on the Town website Busiiness Directory, but then again Feuz Manufacturing is listed, so I guess that site might not be up to date.

679 Mariaville Road

Display Details for Taxes Levied

Tax Year  Tax Type    Original Bill           Assessed Value     Full Market Value

2007      County     $65,211.42        $61,300.00                $2,077,966.00

2010      County      $16,047.45         $1,200,000.00             $1,263,158.00

2011      County      $28,032.18         $2,100,000.00              $2,100,000.00


In 2007 the taxes were over $65,000  on an assessed value of $61,000?

Then the taxes were cut by 75% with the assessed value raised to $1.2 million.

Now the assessed value is $2.1 million and the taxes are still less than half of what
they were six years ago.

Just how does the assessed value triple while the taxes are cut in half?

the levy and the equalization....who knows that math????

lawyers/accountants

  

NYS  real property

Quoted from Libertarian4life

679 Mariaville Road

Display Details for Taxes Levied

Tax Year  Tax Type    Original Bill           Assessed Value     Full Market Value

2007      County     $65,211.42            $61,300.00                $2,077,966.00

2010      County      $16,047.45         $1,200,000.00            $1,263,158.00

2011      County      $28,032.18         $2,100,000.00              $2,100,000.00


In 2007 the taxes were over $65,000  on an assessed value of $61,000?

Then the taxes were cut by 75% with the assessed value raised to $1.2 million.

Now the assessed value is $2.1 million and the taxes are still less than half of what
they were six years ago.

Just how does the assessed value triple while the taxes are cut in half?

The answer is so easily simple.

1.  The town changing from partial value assessment to full value assessment
and
2.  Townwide reassessment



At one time in the town, we had "partial value assessement" so I' provide an example.  In a given year of "partial value assessement, a house that a full market value of $100,000 would could have a partial value assessment value of let's say 4,180 (when the town assessed at 4.18 % of full (market) value.   When this is the case, the tax RATE PER THOUSAND for a given tax could be, let's say, "$300 per thousand," which will result in a tax BILL of $1,254

In #1 above, let's assume that the full (market) value of the house remained as $100,000 and the town siply changed from "partial value assessment" to "full value assessement."   Without any increase in spending by the town, PERHAPS the tax RATE (per thousand) winds up as $12.54 so therefore with the assessment value as $100,000, the person's tax BILL stays as $1,254.

But let's look at the second factor.   In #2 above, the town does a town-wide reassessment and maybe that house that was thought to have a full market value of $100,000, now has a full market value of $180,000.  If the town did a reassessment BUT maintained partial value assessment, then the assessed value of the house would be $7,254 IF the town continued to assess at 4.18% of full market value.  

Now, combine BOTH #1 AND #2 above.  The town as "reassessed" (meaning it has updated the full market value) and it has changed to "full (market) value assessment).  

Factor another piece into it.   If your full market value changed from $100,000 to $180,000, and the market values of all all other properties increase only from $95,00 to $105,000, then you would see a tax BILL increase substantially higher percentage than all the other houses.

So now go back and look at your table above, the "full market value" of the property was much closer to reality.  The "assessed value" in 2007 obviously is a partial value.  Now when the town reassessed AND changed to "full (market) value" assessment, since the full market value of this property as close to being realistic, the property will not be hit with a huge increase in the tax BILL, especially if the old partial value asessments are reflective of full market values that were too low.

Another way of looking at it is this--and in this example, assume that houses are assessed at full value.
Imagine a given street of 20 houses, all of the same style, built at the same time, and all valued (market value) at the time of building as $20,000, let's say they were all built in 1970.  So the (hypothetical) town NEVER does a "reassessment."   The assessed values of these houses are all $20,000, even in 2005 and in  2010.  In 2005 we'll say that a brand new house is built and the town assesses it for $115,000 (at 2005 market value prices).  That house will have a much higher tax BILL than the rest of the houses.   But as this hypothetical town does NOT do a ressessment, then in 2010 this newer built house still has an assessment value of $115,000 and the others stay at $20,000.   Then in 2012, the town does do a reassessment and the $115,000 house has really increased in value to $130,000, and all the other houses that have not changed since they were built in 1970, get reassessed to their market value of perhaps $125,000.  Those older houses will see a substantially higher tax BILL, while the newer house which had an assessment increase may still see a tax BILL decrease.

Get it?  

This example of $20,000 houses and a $115,000 is a little awkward because equalization rate and RAR plays a roll, but that gets more difficult to explain in a written explanation.  The equalization rates over the years play a roll.


For the property at 379 Mariaville Rd, I would say that the increase in full market value from 2010 to 2011 could be a result of an addition, a big reno or something that increased it's value.

My guess would also be that the full market value of over $2 mil in the early years is indicative of the town records having a full market value too high?  And then the property owner grieved and won, then may have gone through an addition which required building permits which then resulted in an increase in assessment.

If you have a house that is valued at 100,000 and you put an addition on, the town will increase the value which will of course affect your tax BILL.  And the tax BILL could increase even if the tax RATE decreases.   It's easier to sit with a hypothetical 25 houses in one hypothetical community and make assumptions, when you change one number (cell), if you put in formulas correctly many other numbers will automatically change.

But here are equalization rates going back to early 1970 (should I got back to when the bouncing baby cheerleader was born?        )






  

I understand the change from partial to full.

I just have never heard of anyone who got their taxes cut by 75% when it happened.

Everyone I have spoken to had their taxes nearly doubled.

boil it down this way and then you can skip all the reading and calculation: preferred pals who donate to democrap cause get reduced or free taxes so all us chumps and enemies of the state can pay more

simple, isnt it?

Quoted from GrahamBonnet

boil it down this way and then you can skip all the reading and calculation: preferred pals who donate to democrap cause get reduced or free taxes so all us chumps and enemies of the state can pay more

simple, isnt it?

let me remind everyone that it would be NO DIFFERENT if the reps were in total control. Let's face it...........it's a corrupt system full of greed and power! That is the only thing that the dems and reps are fighting for.........not what is in the best interest to the so called 'chumps'.

the "chumps" are all perverted and need psychiatric help.........this is the way of the country right now......and it's so sad.......good ol' boys and the new generation of them....

bump