the point is..........this is nothing more than opinions and speculation!!!! It's no secret that i'm not a fan of the METROPLEX/GILLEN or the current dem party that controls Schenectady.....HOWEVER.....to suggest that their selling lays at the feet of the METROPLEX/GILLEN or the current controlling dem party is a far reach without FACTS.

and as a side note.....we know many folks who have retired before the age of 62!!

Quoted from bumblethru

the point is..........this is nothing more than opinions and speculation!!!! It's no secret that i'm not a fan of the METROPLEX/GILLEN or the current dem party that controls Schenectady.....HOWEVER.....to suggest that their selling lays at the feet of the METROPLEX/GILLEN or the current controlling dem party is a far reach without FACTS.

and as a side note.....we know many folks who have retired before the age of 62!!

Well, I must agree with you on all points.

Also point out that seems like MC1 refuses to truly address the points with facts...
sounds like same thing MC1 accuses someone else of doing....disappointing!

If it is true that they are closing, it would certainly be a loss for Schenectady.  Hopefully, they are not closing due to family illness or something like that.  I wish them well in whatever they do in the future.

Quoted from joebxr

Well, I must agree with you on all points.

Also point out that seems like MC1 refuses to truly address the points with facts...
sounds like same thing MC1 accuses someone else of doing....disappointing!

well, there is a FACT that they wanted to leave Schenectady (at least in the past) in order to expand.   But they could have expanded here in Schenectady.   And we know that Metroplex has never tried to do anything for them, I haven't seen anything in Metroplex minutes or articles that they wanted to help them.  Plex isn't interested I some women of only modest financial means, they only want to hand out money to millionaires.

But the two women DO have a mortgage on the building.   And have had several mortgages.   If they were so well heeled to be able to retire now, they would not be getting mortgages.  No one in their right mind would take out mortgages for $30,000 to $40,000 and pay interest at a time when banks are not paying interest.  Yes, they the mortgage interest is tax deductible but that deductibility still winds up you pay more paying interest on your mortgage than you save with the IRS and NYS Tax when you deduct it when filing taxes.  If someone has enough money to retire they certainly have more than $30,000 in the bank and can whatever the want to pay on their personal residence they would pay cash.   AND even more, a variable interest rate!  

Quoted from mikechristine1

well, there is a FACT that they wanted to leave Schenectady (at least in the past) in order to expand.   But they could have expanded here in Schenectady.   And we know that Metroplex has never tried to do anything for them, I haven't seen anything in Metroplex minutes or articles that they wanted to help them.  Plex isn't interested I some women of only modest financial means, they only want to hand out money to millionaires.

But the two women DO have a mortgage on the building.   And have had several mortgages.   If they were so well heeled to be able to retire now, they would not be getting mortgages.  No one in their right mind would take out mortgages for $30,000 to $40,000 and pay interest at a time when banks are not paying interest.  Yes, they the mortgage interest is tax deductible but that deductibility still winds up you pay more paying interest on your mortgage than you save with the IRS and NYS Tax when you deduct it when filing taxes.  If someone has enough money to retire they certainly have more than $30,000 in the bank and can whatever the want to pay on their personal residence they would pay cash.   AND even more, a variable interest rate!  

Actually, if they are planning to relocate to a larger facility, taking out equity loans could give the cash boost to make it happen.

If any of the properties sell that would pay off the mortgage and add to the relocation funds.

Mortgages are currently at historic low rates.

3.125% to 4.4%.

My interest rate was 10% when I bought my home.

The hard part is the appraised value, which the bank uses to determine your available loan amount,
will likely be nowhere near the assessed value of your property.

You could however probably get $75-$80,000 as a loan on a property assessed at $120,000.

Quoted from joebxr

And you still have trouble with reading comprehension....I did not identify the
assessment...MC1 did.  I only identified the asking price! Try reading and understanding
before you make accusations! How's your foot taste, GENIUS?

Do you always copy and paste facts without verifying them?

You posted the same assessment as MC1.

Quoted from Libertarian4life

Do you always copy and paste facts without verifying them?

You posted the same assessment as MC1.

Do you always make comments without reading the threads first?

It was a response to MC1 and "HIS" assessment GENIUS!  But you already know that

and just want to play DUMB....you're good at it!!!!  How's your foot taste????

Quoted from bumblethru

the point is..........this is nothing more than opinions and speculation!!!! It's no secret that i'm not a fan of the METROPLEX/GILLEN or the current dem party that controls Schenectady.....HOWEVER.....to suggest that their selling lays at the feet of the METROPLEX/GILLEN or the current controlling dem party is a far reach without FACTS.

and as a side note.....we know many folks who have retired before the age of 62!!

I have to agree.

And as my side note, I retired at 52. I am by no means wealthy, and did not have millions saved. I have learned that living modestly works for me. I am quite happy and content with my life, 15 years after making the decision to leave the work force.

I think far too often we pigeonhole ideas as to what is the "ideal" life.

Quoted from Alva White

I have to agree.

And as my side note, I retired at 52. I am by no means wealthy, and did not have millions saved. I have learned that living modestly works for me. I am quite happy and content with my life, 15 years after making the decision to leave the work force.

I think far too often we pigeonhole ideas as to what is the "ideal" life.

CONGRATS...must say, I'm jealous!

Quoted from joebxr

CONGRATS...must say, I'm jealous!

Haha. Oh don't be jealous. In life we all have to decide what it is that makes us happy. For some it's having lots of things and piles of money. For others a straw mat on a floor is a palace. I've had plenty of "toys" and things in my life, but found a simpler life is more to my liking. For others that might not work. To assume every one desires the same things is pretty narrow minded in my view, but that's what's portrayed by so many people.

But back to the topic, I think a wait and see stance would be far more prudent in this situation, rather than playing a "blame game". In the end it may very well be that mikechristine1 was right on all counts, but at this point no one knows but the owners and their families.

As much as we all would like to believe that ALL the business closings in the city are because of Metroplex and the Democratic Party, I just don't think it's so.  

Quoted from Alva White

But back to the topic, I think a wait and see stance would be far more prudent in this situation, rather than playing a "blame game". In the end it may very well be that mikechristine1 was right on all counts, but at this point no one knows but the owners and their families.

As much as we all would like to believe that ALL the business closings in the city are because of Metroplex and the Democratic Party, I just don't think it's so.  

BINGO !!

Quoted from mikechristine1

well, there is a FACT that they wanted to leave Schenectady (at least in the past) in order to expand.   But they could have expanded here in Schenectady.   And we know that Metroplex has never tried to do anything for them, I haven't seen anything in Metroplex minutes or articles that they wanted to help them.  Plex isn't interested I some women of only modest financial means, they only want to hand out money to millionaires.

  

I don't want METROPLEX/GILLEN to 'help' Civitellos with my tax money just like I didn't want them to help the other businesses.
Is anyone here suggesting a 'BAIL OUT'????????

Quoted from bumblethru

I don't want METROPLEX/GILLEN to 'help' Civitellos with my tax money just like I didn't want them to help the other businesses.
Is anyone here suggesting a 'BAIL OUT'????????

Oh but wait...that's why they are selling/moving/closing/retiring/etc.,
because they are not getting political incentives...right MC1????

I mean that's what MC1 continues to insinuate and have provided not one shred of
evidence to support any of that....only conjecture on your part.

Of course, since MC1 has no evidence to support the statements, he will NOT respond.

OH GEEZ...I'm sounding like MC1 posting to DVOR!!!!  I need some aspirin!!!

the price they are asking for the business is $650.000....anywhere else it would be risky...in schenectady it would be a financial disaster unless there's some serious incentives AND lots of carryover customers....

edited to add ; most new owners seem to forget or don't care what made the business what it is

Quoted from joebxr

Oh but wait...that's why they are selling/moving/closing/retiring/etc.,
because they are not getting political incentives...right MC1????

I mean that's what MC1 continues to insinuate and have provided not one shred of
evidence to support any of that....only conjecture on your part.

Of course, since MC1 has no evidence to support the statements, he will NOT respond.

OH GEEZ...I'm sounding like MC1 posting to DVOR!!!!  I need some aspirin!!!

I have provided some FACTS.   They keep getting mortgages, that's a fact, evidence is in county public records.   According to the women when they sold before (don't know why it fell through) they stated that they outgrew their Schenectady location, we can all have our opinions if we think the place is too small or too big for them, but it is what they said and the evidence is in their very own statements.   The evidence does show that Metroplex never offered them anything.   Doubtful these women are multimillionaires, not if they have to take out mortgages.  Metroplex pretty much only helps out millionaires and the evidence supports that.  The women did state previously they wanted to move to Saratoga or Clifton Park in order to expand.  The evidence proves there are many many many properties that they could occupy in Schenectady in order to expand.  Think of the huge former Price chopper building in the Sheridan Plaza, they could occupy that place and it's still their neighborhood. The evidence proves Civitello's is a very very long time TAXPAYING business.  The word expand most often means one needs additional space, maybe not a palace size but maybe they just needed double the space of their small building.   They could have moved to part of the old Grand Union on Hamburg St.   There are many vacant places and ample space over in Crosstown plaza and actually over in that plaza where Aldi's is.  There are literally hundreds of places they could expand to WITHIN the city.   So why would look to Saratoga or Clifton Park?   Yes, it's only speculation but we do know for an UNDISPUTABLE FACT and the EVIDENCE MORE THAN PROVES that Saratoga and Clifton Park has SUBSTANTIALLY lower taxes AND to buy a property in those two areas guarantees an increase in property value and thus an return on one's investment.   Buying a property IN the city of Schenectady is a guarantee of being underwater on one's mortgage and ALL THE EVIDENCE prove that as fact.

So since the evidence proves that Metroplex totally snubs a long time taxpaying business that would like to expand, then in my opinion their attempt to sell is an indication that they want to expand but be forced to pay the taxes of their competition who are millionaires.  Typical sellers might ask a price that is 20 to 30% above the market value to start.    Assessments values are AT LEAST 23% higher than market value.  Their assessed value is about $240,000 so the market value is probably more around $180,000.   Their asking price is $650,000.   Granted that could be the realtor assigning that price but that would be a bad realtor.  The women might have an ulterior motive in asking that place, like hoping that Metroplex offers them something, not that they would want to do business on the taxpayer dole but to try to get SOMETHING as a return on the money the city stole from them to pay the taxes of their competition.