My only response to the troll who can't have a civil, intelligent discussion but resorts to incessant lies and personal attacks is -- as usual -- (yawn) You are a boor and a bore.  Your lies and personal attacks are irrelevant to this topic or any other topic.  

I reiterate my original statement, which is completely sound business practice, that landlords do NOT give any thing away free.  They include it in the cost of the rent.  The fact that others can't understand that basic concept does not mean that it is untrue.  It just means that the person(s), who can't understand the concept, needs to read and learn more.

Quoted from DemocraticVoiceOfReason

I reiterate my original statement, which is completely sound business practice, that landlords do NOT give any thing away free.  They include it in the cost of the rent. The fact that others can't understand that basic concept does not mean that it is untrue.  It just means that the person(s), who can't understand the concept, needs to read and learn more.

I am in no way disagreeing with the fact that landlords do not give away anything for free, and I never did either. What we have said and continue to state is the benefits given by the owner developer of this property to its tenets do not equal what is being collected in rent. So unless they are running a charity for the benefit of the students/residents, they are obviously getting handouts from the city, county, SUNY, or all three. As L4Life stated back on the 28th the dorms received 10 million dollars in tax exemptions. So in fact the tax payers are subsidizing the housing for students, and once again the politically connected buddies of metroplex and the city are living off the backs of the city, county and state tax payers.

Quoted from RPEGCL

I am in no way disagreeing with the fact that landlords do not give away anything for free, and I never did either. What we have said and continue to state is the benefits given by the owner developer of this property to its tenets do not equal what is being collected in rent. So unless they are running a charity for the benefit of the students/residents, they are obviously getting handouts from the city, county, SUNY, or all three. As L4Life stated back on the 28th the dorms received 10 million dollars in tax exemptions. So in fact the tax payers are subsidizing the housing for students, and once again the politically connected buddies of metroplex and the city are living off the backs of the city, county and state tax payers.

And I reiterate what I posted originally into the statement that this was "only in Schenectady" -- that this kind of public-private partnership to provide student housing is NOT "only in Schenectady."   It is not a one sided deal -- benefits only to the private company that builds and manages the student housing.  The public benefits because the private company is bearing the cost of building AND maintaining the student housing.  The public benefits because the community college is not accumulating another pile of bond debt that will have to be paid off.  So the choice is yours -- pay debt service for 40 years on the public bonds to build the student housing or grant a tax exemption for a shorter period of time.  I prefer the latter.

United Group of Companies is getting $41,400 per month on a lease from Schenectady County Industrial Development Agency that only costs $520.83 per month.  Paying no taxes.....Must be nice.   Again the COUNTY cannibalized the city.  This is FACT!

Units     Rent     Monthly Rent     
69     600      $41,400.00      
               
Lump Sum     Years     Months     Lease per month
250000     40     480      $520.83


The 69 fully furnished units would have 264 beds. Lease rates would be in the $600 range, including utilities.

The apartments would be built by BBL Construction Services LLC in Albany.

“We’ve done a number of projects with United,” said Jon deForest, executive vice president at BBL. “We’re finishing up one in Troy. We’re really excited to be working with them again.”

The site being targeted for the 112,000-square-foot apartment complex is the same one that was eyed by developers in 2008, but that project never came to fruition because financing dried up during the recession.

Under the proposed new deal, the United Group would sublease the land from the Schenectady County Industrial Development Agency.

County government would receive a $250,000 lump-sum payment in 2012 on the 40-year lease, according to the county’s commissioner of economic development and planning, Ray Gillen.

again...only in Schenectady...