SCHENECTADY Parcel valuation brings big surprise Plaine & Son property deemed virtually worthless BY KATHLEEN MOORE Gazette Reporter Reach Gazette reporter Kathleen Moore at 395-3120 or moore@dailygazette.com.
The effort to value the booming bicycle shop on State Street backfired badly for owner Les Plaine. Plaine & Son hired workers to measure the property, study its characteristics and set a price, which is needed to get a bank loan or put a property up for sale. Plaine won’t say what he was considering doing — but in any case, he dropped his plans when he got their report. His land is virtually worthless. There were century-old fuel tanks buried underground. And they had been leaking petroleum for years. His property had just been valued by the city at $750,000, and Plaine says he hadn’t planned to dispute that. Now it’s worth so little that the city is reducing his assessment to $150,000 — a greater reduction than the city has given to any other business except for a deal struck with General Electric. Even so, the savings in taxes won’t equal the hundreds of thousands of dollars in environmental cleanup costs, Plaine said. ......................>>>>.....................>>>>....................http://www.dailygazette.net/De.....r00701&AppName=1
Business is so good the owner wanted to put the business up for sale? Another example of the great job Sole Assessor Mastro did ripping off City property owners.
The leak will be fixed before any buyer is found. According to Death Ray this is a positive development. Their business model is outdated and now he can enlarge his footprint for Metrograft in Woodlawn-lol.
There were century-old fuel tanks buried underground. And they had been leaking petroleum for years.
After all of these years, the property owner 'just' found out about the leaking underground tanks?? If gas stations are required to change out their tanks every so many years because of potential leaking............what about this property? Don't make sense!
Sounds like another 'sweet deal' and a secured 'vote'!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Maybe they're doing this as a pre-cursor for all the ALCO discounts the developer will surely ask for. It gives them a reference point.
This business still exist and the century-old tanks were there when he made all those bike sales for the past decades. This property still has value and just because the businessowner either didn't have an inspection when he initially purchased the land, the City doesn't have to give him a break.
It is odd that this was covered in the paper this way. Perhaps a way to fend off criticism ahead of time if somebody gets a special deal? Because peoplehave caught on to that tax exemptions for special businesses scam, most people anyway, so this could be an attempt to disguise a sweetheart deal. "But the property was worthless anyway! It said so in the paper!" Is that what we are being told to think?
He expects the work won’t be done for years. As he paid workers to dig seven new monitoring wells to check on the cleanup efforts, he said philosophically, “It’s only money. There’s a lot worse things that can happen to you.” But most of the other calamities that could happen are covered by insurance. Not this. “It is what it is,” he said. “And it does have the benefit of improving the environment.” He’s focusing on that silver lining. At age 56, his new goal is to finish the cleanup before he dies. Some residents questioned why the City Council voted to reduce Plaine’s assessment so significantly, but Corp. Counsel L. John Van Norden said Plaine had a strong argument for reducing it to zero. “There’s at least one appraisal out there — two, actually — that the property is worth nothing,” Van Norden said. “The property is contaminated.” Plaine agreed to waive any refunds for taxes already paid. In his determination to look on the bright side, he noted that at least the pollution was found at a good time. “The bicycle business is very good. With people aware of fi tness and the expense of gas, it’s been very, very good,” he said, adding with a laugh, “Tell people to buy a bicycle here, help the poor guy out.”
REALLY?????? Before he dies???
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
You know all this EPA stuff is fishy to me to begin with. I am aware of a place here that has potentially contamination below ground where they demolished buildings. They left the concrete slab parking lot in tact. Then they covered the slab with dirt and hydroseeded that. Understanding I've been given is that because they left the slab, they don't have to clean up below it. If they had dug up the slab, then they would be required to clean up any contamination that might be found....slick, huh!
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
It amazes me that the EPA is not 'demanding' that this be cleaned up. And apparently they aren't and won't since the property owner is saying not just 'when' but 'if' he 'ever' cleans it up. Until then, he will enjoy the low taxes and will reciprocate with a 'vote'!!
This will be yet another 'dead' piece of property for decades to come after the owner dies!! What a great vision for the future, huh?
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
He expanded that business greatly in the nineties, remember? It wasn't worthless then. This is corrupt crap. I believe you are right, rachel72. About the ALCO site. The homeowners will be asked to pay for the brownfield cleanup for a private developer who was stupid enough to buy it. Or rather, not asked, because the guy would have to know that he wasn't going to have to pay for any cleanup or he'd never have bought the place. Somebody guaranteed it would be us who pay. City council must be desperate to have that "most corrupt" title from Metroland all to themselves.
Logged
Business is so good the owner wanted to put the business up for sale? Another example of the great job Sole Assessor Mastro did ripping off City property owners. 
