I am pretty sure this information can be FOIL'd. Wonder if Paul Vandenburg could request a list of all the PILOTS paid for the last 5 years and a list of the Metroplex Tax Exempt properties? I bet there is a good correlation with the 0% properties. The information is from the Metroplex Financials.
Company 3N2 Terms repayable over a 10-year period, due in monthly installments of $1,207, including interest at 3%, matures7/1/2015 Interest Rate 3% Collatoral (w) Secured by all business assets and personal guarantees by the principals of the company. 2010 Balance 87,475 2009 Balance 88,458
Company 411 State Street Assoc. Terms repayable over a 15-year period,(25-year amortization) due in monthly installments of $3,333,interest free, with payments beginning July 2012, maturesJune 2027 Interest Rate 0% Collatoral (b) Secured by a second mortgage on the property and assignment of leases and rents related to the property. 2010 Balance 1,000,000 2009 Balance 1,000,000
Company 426 State Street Assoc. Terms repayable over a 15-year period, due in monthly installments of $9,535, including interest at 4% beginning in the sixth year, matures 15 years following the initial disbursement; however, payments are suspended for the first 30 months of the project, with a balloon payment for the remaining balance; interest free or the first five years Interest Rate 0% Collatoral (z) Secured by a second mortgage on the property and a second lien position on the fixed assets of the entity. 2010 Balance 1,300,000 2009 Balance 1,300,000 Comments 0$ - 0% for 4 years! Company 510 Union Street Terms repayable over a 15-year period, due in monthlyinstallments of principal of $1,944, matures May 2018, interestfree Interest Rate 0% Collatoral (f) Secured by a second mortgage on the property and guaranteed by the principals of the company and thebuilding’s tenants. 2010 Balance 169,167 2009 Balance 206,111
Company Backstage Pub Terms repayable over a 10-year period, due in monthlyinstallments of $483 including interest at 3%, maturesJanuary 2017 Interest Rate 3% Collatoral (y) Secured by a first mortgage on the property and personal guarantees of the owners. 2010 Balance 36,585 2009 Balance 41,544
Company Bombers on State Street Terms repayable over a 15-year period,at 5% interest with interest only payments of $1,042 for thefirst five years, interest and principal payments of $2,652 forthe remaining term, matures December 2023 Interest Rate 5% Collatoral (j) Secured by a mortgage on the property, all business assets, and assignment of leases. 2010 Balance 250,000 2009 Balance 250,000
Company Bow Tie Partners Terms repayable over a 20-year period, duein monthly installments of $4,167, matures 20 years from thecompletion of the project, with a balloon payment for theremaining balance, interest free, matures April 2023 Interest Rate 0% Collatoral (aa) Secured by a second mortgage on the property and the assignment of rents.Interest earnings on loans receivable ere $24,104 and $62,846 for the years ended December 31, 2010 and 2009,respectively. 2010 Balance 3,737,117 2009 Balance 3,786,908 Comments Amortized over 76 years 0%? Company Broadway Commerce Park Terms repayable over a 20-year period, duein monthly installments of $4,500, matures November 2020,interest free Interest Rate 0% Collatoral (q) Secured by a second mortgage on the property and guaranteed by the members of the company. 2010 Balance 801,000 2009 Balance 855,000
Company Broadway Commerce Park Phase 3 (Highbridge 890 LLC) Terms repayable over a 10-year period, at 6% interest, no paymentsdue the first year, interest only payments due in years two andthree, monthly payments of $4,175 beginning in year fouruntil loan matures in June 2019 Interest Rate 6% Collatoral (h) Secured by a first mortgage on vacant property. 2010 Balance 125,000 2009 Balance 293,899
Company Child Program and Family Resource Center Terms repayable overa 10-year period, due in monthly installments of $2,004,interest free, matures May 2017, an equal amount isforgiven as payments are made Interest Rate 0% Collatoral (a) Secured by a mortgage, subordinate to the primary lender and guaranteed by related party. 2010 Balance 304,666 2009 Balance 352,771
Company Clinton’s Ditch Terms Clinton’s Ditch, repayable over a 15-year period, due in monthlyinstallments of $278, matures August 2020, interest free Interest Rate 0% Collatoral (r) Secured by a mortgage, subordinate to the primary lender, an assignment of rents, and guarantee of theoperating entity. 2010 Balance 31,944 2009 Balance 35,278
Company Cornell’s Restaurant Terms repayable over a 15-year period, due inmonthly installments of principal ranging from $323 to $1,706,matures October 2022, interest free Interest Rate 0% Collatoral (e) Secured by a second mortgage on the property and a first lien position on the company’s fixtures, furniture,and equipment. 2010 Balance 223,941 2009 Balance 223,941
Company David Louis Floor Covering Terms repayable over a 15-year period, duein monthly installments of $1,222, matures November 2019,interest free Interest Rate 0% Collatoral (s) Secured by a second mortgage on the property. 2010 Balance 133,222 2009 Balance 147,889
Company Highbridge Broadway Terms repayable over a 20-year period, due inmonthly installments of principal of $729, matures November2019, with a balloon payment for the remaining balance, interestfree Interest Rate 0% Collatoral (k) Secured by a second mortgage on the property, an assignment of rents and leases, and certain fixed assets. 2010 Balance 121,044 2009 Balance 130,523
Company Integra Development Terms repayable over a 15-year period, due inmonthly installments of principal of $580, matures December2019, interest free Interest Rate 0% Collatoral (l) Secured by a second mortgage on the property, subordinate to the primary lender, and personally guaranteedby certain principals of the company. 2010 Balance 59,113 2009 Balance 66,067
Company Logical Net Terms repayable over a 10-year period, due in monthlyinstallments of $1,448, including interest at 3%, maturesDecember 2011 Interest Rate 3% Collatoral (t) Secured by a mortgage on the property, all business assets, assignment of leases, and personal guarantees bythe principals of the company. 2010 Balance 78,260 2009 Balance 93,052
Company Marcella's Distribution Center Terms repayable over a 20-year period,due in monthly installments of $3,163 beginning January2015, including interest at 5%, matures December 2029 Interest Rate 5% Collatoral (n) Secured by a second mortgage on the property, a second lien on the company’s furniture, fixtures andequipment, and guaranteed by the principal of the entity. 2010 Balance 400,000 2009 Balance 400,000 Comments No repayment until 2015 - Second Mortgage
Company More Perreca's Café (31 N. Jay Street Terms repayable over a15-year period, due in monthly installments of $1,455beginning September 2011, including interest at 5%,matures August 2024 Interest Rate 5% Collatoral (n) Secured by a second mortgage on the property, a second lien on the company’s furniture, fixtures andequipment, and guaranteed by the principal of the entity. 2010 Balance 160,385 2009 Balance 150,000
Company Parker Inn Terms repayable over a 15-year period (20-year amortization),due in monthly installments of principal ranging from $1,491 to$4,348, matures October 2018, with a balloon payment for theremaining balance, interest free Interest Rate 0% Collatoral (c) Secured by a third mortgage on the property, a first lien on all furniture and fixtures, and guaranteed by thecorporation and an assignment of leases and rents related to the property. 2010 Balance 683,912 2009 Balance 686,412 Comments 3rd Mortgage - Interest Free only paid $3Gs toward principle!
Company Paul Mitchell School (PM Schenectady Terms repayable over a15-year period, due in monthly installments of $1,977 beginningMarch 2011, interest free until payments begin and 5%thereafter, matures June 2021, with a balloon payment for theremaining balance. Proceeds have not been fully distributed asof December 2009 Interest Rate 0% Collatoral (p) Secured by a second lien on leasehold improvements, furniture, fixtures and equipment, and guaranteed bythe principals of the entity. 2010 Balance 250,000 2009 Balance 61,521
Company Proctor's Theatre Terms repayable on demand, interest free Interest Rate 0% Collatoral (i) Secured by a first lien on certain property held by the company. 2010 Balance 300,000 2009 Balance 300,000 Comments No repayment terms - Interest free
Company River Stone Manor Terms repayable over an 8-year period (20-yearamortization) due in monthly installments of $3,545, includinginterest at 6%, paid in full during 2010 Interest Rate 6% Collatoral (d) Secured by a mortgage and assignment of rents relating to the property, subordinate to the primary lender andguaranteed by the principals of the related entities. 2010 Balance 0 2009 Balance 400,706
Company Rotterdam Ventures Terms repayable over a 5-year period, due inmonthly installments of $767, including interest at 5%, maturesMarch 2011 Interest Rate 5% Collatoral 0 2010 Balance 1,535 2009 Balance 10,417
Company Schenectady Family Health Services Terms repayable over a 20-yearperiod, due in monthly installments of $6,250, maturesFebruary 2026, interest free Interest Rate 0% Collatoral (u) Secured by a mortgage on the property, assignment of leases, all tangible business assets, and a guarantee bythe Health Resources and Services Administration, an agency within the United States Department of Healthand Human Services. 2010 Balance 1,137,500 2009 Balance 1,212,500
Company Schenectady Hotel Terms repayable over a 19-year period, duein monthly installments of $8,772, matures March 2027,interest free Interest Rate 0% Collatoral (z) Secured by a second mortgage on the property and a second lien position on the fixed assets of the entity. 2010 Balance 1,710,526 2009 Balance 1,824,562
Company Synthesis Architects Terms repayable over a 15-year period, due inmonthly installments of principal of $972, matures October2018, interest free Interest Rate 0% Collatoral (g) Secured by a third mortgage on the property, subordinate to the primary lenders, and personally guaranteedby certain principals of the entity. 2010 Balance 92,361 2009 Balance 103,055 Comments 3rd mortgage - Interest Free Company Tailwind Associates Terms repayable over a 10-year period, due inmonthly installments of $483, including interest at 3%,matures December 2015 Interest Rate 3% Collatoral (v) Secured by all business assets, landlord waiver of liens, and personal guarantees by the principals of thecompany. 2010 Balance 26,813 2009 Balance 31,720
Company Utech Products Terms repayable over a 15-year period (20-year amortization),due in monthly installments of principal ranging from$2,708 to $2,833, matures May 2019, with a balloon paymentfor the remaining balance, interest free Interest Rate 0% Collatoral (m) Secured by a mortgage on the property, subordinate to the primary lender. 2010 Balance 490,334 2009 Balance 527,167
Company Van Dyck Restoration (True Griffin Terms repayable over a 15-yearperiod, due in monthly installments of $1,036 beginning March2014, interest free until payments begin and 3% thereaftermatures February 2029 Interest Rate 3% Collatoral (m) Secured by a mortgage on the property, subordinate to the primary lender. 2010 Balance 150,000 2009 Balance 150,000 Comments No payments until 3/2014 at 0% Company Villa Italia Terms repayable over a 20-year period, due in monthlyinstallments of $1,667, matures November 2025, interestfree Interest Rate 0% Collatoral (x) Secured by a mortgage on the property, a lien on certain machinery and equipment, and personal guaranteesby the members of the company. 2010 Balance 298,334 2009 Balance 316,667
Company Zone 5 Regional Law Enforcement Training Center Terms repayableover a 15-year period (18-year amortization), due in monthlyinstallments of principal of $4,306, beginning September 2007,with a balloon payment for the remaining balance, interestfree, matures August 2022 Interest Rate 0% Collatoral (o) Secured by a first mortgage on the property in the amount of $527,500 and an assignment of New York State grant proceeds totaling $400,000. 2010 Balance 620,000 2009 Balance 671,666
Life is tough, but it's tougher when you're stupid - John Wayne
TIP TO NEW VISITORS TO THIS FORUM - To improve your blogging pleasure it is recommended to ignore (Through editing your prefere) the posts of the following bloggers - DemocraticVoiceofReason, Scotsgod08 and Smoking Bananas. They continually go off topic, do not provide facts and make irrational remarks. If you do not believe me, this can be proven by their reputation scores or by a sampling of their posts.
van-dim-berg is and will always be an idiot of the highest caliber. basically a bully with a mic
Could you provide it? or the source?
Life is tough, but it's tougher when you're stupid - John Wayne
TIP TO NEW VISITORS TO THIS FORUM - To improve your blogging pleasure it is recommended to ignore (Through editing your prefere) the posts of the following bloggers - DemocraticVoiceofReason, Scotsgod08 and Smoking Bananas. They continually go off topic, do not provide facts and make irrational remarks. If you do not believe me, this can be proven by their reputation scores or by a sampling of their posts.
When is the Gazetto going to match DEM contributions to Metrograft recipients? Only the Times Union can do any investigating reporting. This is an on going investigation by the Times Union. The FBI should come in and audit on the pay to play DEM morons. Right the developers are giving because they like the results-MORE CONTRACTS!
there is no bidding involved.. they come to metroplex andmetroplex works a deal, or metroplex goes to them and works a deal.. they are an independent authoirty.
REALLY????? Don't know where you get your info from!! Don't tell me there aren't bids that go out!!!!!
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
thanks for posting this. Perhaps this info can be sent to the TU, Vandenberg and Greg Floyd!!!
It is clear that Ray Gillen would NEVER be hired in the private sector cause he would have been FIRED long ago!!!! Even Susan Savage, Kosiur and Stratton had to be 'transferred' to patronage jobs, cause no company in their right mind would EVER hire this bunch!
I am pretty sure this information can be FOIL'd. Wonder if Paul Vandenburg could request a list of all the PILOTS paid for the last 5 years and a list of the Metroplex Tax Exempt properties? I bet there is a good correlation with the 0% properties. The information is from the Metroplex Financials.
Company 3N2 Terms repayable over a 10-year period, due in monthly installments of $1,207, including interest at 3%, matures7/1/2015 Interest Rate 3% Collatoral (w) Secured by all business assets and personal guarantees by the principals of the company. 2010 Balance 87,475 2009 Balance 88,458
Company 411 State Street Assoc. Terms repayable over a 15-year period,(25-year amortization) due in monthly installments of $3,333,interest free, with payments beginning July 2012, maturesJune 2027 Interest Rate 0% Collatoral (b) Secured by a second mortgage on the property and assignment of leases and rents related to the property. 2010 Balance 1,000,000 2009 Balance 1,000,000
Company 426 State Street Assoc. Terms repayable over a 15-year period, due in monthly installments of $9,535, including interest at 4% beginning in the sixth year, matures 15 years following the initial disbursement; however, payments are suspended for the first 30 months of the project, with a balloon payment for the remaining balance; interest free or the first five years Interest Rate 0% Collatoral (z) Secured by a second mortgage on the property and a second lien position on the fixed assets of the entity. 2010 Balance 1,300,000 2009 Balance 1,300,000 Comments 0$ - 0% for 4 years! Company 510 Union Street Terms repayable over a 15-year period, due in monthlyinstallments of principal of $1,944, matures May 2018, interestfree Interest Rate 0% Collatoral (f) Secured by a second mortgage on the property and guaranteed by the principals of the company and thebuilding’s tenants. 2010 Balance 169,167 2009 Balance 206,111
Company Backstage Pub Terms repayable over a 10-year period, due in monthlyinstallments of $483 including interest at 3%, maturesJanuary 2017 Interest Rate 3% Collatoral (y) Secured by a first mortgage on the property and personal guarantees of the owners. 2010 Balance 36,585 2009 Balance 41,544
Company Bombers on State Street Terms repayable over a 15-year period,at 5% interest with interest only payments of $1,042 for thefirst five years, interest and principal payments of $2,652 forthe remaining term, matures December 2023 Interest Rate 5% Collatoral (j) Secured by a mortgage on the property, all business assets, and assignment of leases. 2010 Balance 250,000 2009 Balance 250,000
Company Bow Tie Partners Terms repayable over a 20-year period, duein monthly installments of $4,167, matures 20 years from thecompletion of the project, with a balloon payment for theremaining balance, interest free, matures April 2023 Interest Rate 0% Collatoral (aa) Secured by a second mortgage on the property and the assignment of rents.Interest earnings on loans receivable ere $24,104 and $62,846 for the years ended December 31, 2010 and 2009,respectively. 2010 Balance 3,737,117 2009 Balance 3,786,908 Comments Amortized over 76 years 0%? Company Broadway Commerce Park Terms repayable over a 20-year period, duein monthly installments of $4,500, matures November 2020,interest free Interest Rate 0% Collatoral (q) Secured by a second mortgage on the property and guaranteed by the members of the company. 2010 Balance 801,000 2009 Balance 855,000
Company Broadway Commerce Park Phase 3 (Highbridge 890 LLC) Terms repayable over a 10-year period, at 6% interest, no paymentsdue the first year, interest only payments due in years two andthree, monthly payments of $4,175 beginning in year fouruntil loan matures in June 2019 Interest Rate 6% Collatoral (h) Secured by a first mortgage on vacant property. 2010 Balance 125,000 2009 Balance 293,899
Company Child Program and Family Resource Center Terms repayable overa 10-year period, due in monthly installments of $2,004,interest free, matures May 2017, an equal amount isforgiven as payments are made Interest Rate 0% Collatoral (a) Secured by a mortgage, subordinate to the primary lender and guaranteed by related party. 2010 Balance 304,666 2009 Balance 352,771
Company Clinton’s Ditch Terms Clinton’s Ditch, repayable over a 15-year period, due in monthlyinstallments of $278, matures August 2020, interest free Interest Rate 0% Collatoral (r) Secured by a mortgage, subordinate to the primary lender, an assignment of rents, and guarantee of theoperating entity. 2010 Balance 31,944 2009 Balance 35,278
Company Cornell’s Restaurant Terms repayable over a 15-year period, due inmonthly installments of principal ranging from $323 to $1,706,matures October 2022, interest free Interest Rate 0% Collatoral (e) Secured by a second mortgage on the property and a first lien position on the company’s fixtures, furniture,and equipment. 2010 Balance 223,941 2009 Balance 223,941
Company David Louis Floor Covering Terms repayable over a 15-year period, duein monthly installments of $1,222, matures November 2019,interest free Interest Rate 0% Collatoral (s) Secured by a second mortgage on the property. 2010 Balance 133,222 2009 Balance 147,889
Company Highbridge Broadway Terms repayable over a 20-year period, due inmonthly installments of principal of $729, matures November2019, with a balloon payment for the remaining balance, interestfree Interest Rate 0% Collatoral (k) Secured by a second mortgage on the property, an assignment of rents and leases, and certain fixed assets. 2010 Balance 121,044 2009 Balance 130,523
Company Integra Development Terms repayable over a 15-year period, due inmonthly installments of principal of $580, matures December2019, interest free Interest Rate 0% Collatoral (l) Secured by a second mortgage on the property, subordinate to the primary lender, and personally guaranteedby certain principals of the company. 2010 Balance 59,113 2009 Balance 66,067
Company Logical Net Terms repayable over a 10-year period, due in monthlyinstallments of $1,448, including interest at 3%, maturesDecember 2011 Interest Rate 3% Collatoral (t) Secured by a mortgage on the property, all business assets, assignment of leases, and personal guarantees bythe principals of the company. 2010 Balance 78,260 2009 Balance 93,052
Company Marcella's Distribution Center Terms repayable over a 20-year period,due in monthly installments of $3,163 beginning January2015, including interest at 5%, matures December 2029 Interest Rate 5% Collatoral (n) Secured by a second mortgage on the property, a second lien on the company’s furniture, fixtures andequipment, and guaranteed by the principal of the entity. 2010 Balance 400,000 2009 Balance 400,000 Comments No repayment until 2015 - Second Mortgage
Company More Perreca's Café (31 N. Jay Street Terms repayable over a15-year period, due in monthly installments of $1,455beginning September 2011, including interest at 5%,matures August 2024 Interest Rate 5% Collatoral (n) Secured by a second mortgage on the property, a second lien on the company’s furniture, fixtures andequipment, and guaranteed by the principal of the entity. 2010 Balance 160,385 2009 Balance 150,000
Company Parker Inn Terms repayable over a 15-year period (20-year amortization),due in monthly installments of principal ranging from $1,491 to$4,348, matures October 2018, with a balloon payment for theremaining balance, interest free Interest Rate 0% Collatoral (c) Secured by a third mortgage on the property, a first lien on all furniture and fixtures, and guaranteed by thecorporation and an assignment of leases and rents related to the property. 2010 Balance 683,912 2009 Balance 686,412 Comments 3rd Mortgage - Interest Free only paid $3Gs toward principle!
Company Paul Mitchell School (PM Schenectady Terms repayable over a15-year period, due in monthly installments of $1,977 beginningMarch 2011, interest free until payments begin and 5%thereafter, matures June 2021, with a balloon payment for theremaining balance. Proceeds have not been fully distributed asof December 2009 Interest Rate 0% Collatoral (p) Secured by a second lien on leasehold improvements, furniture, fixtures and equipment, and guaranteed bythe principals of the entity. 2010 Balance 250,000 2009 Balance 61,521
Company Proctor's Theatre Terms repayable on demand, interest free Interest Rate 0% Collatoral (i) Secured by a first lien on certain property held by the company. 2010 Balance 300,000 2009 Balance 300,000 Comments No repayment terms - Interest free
Company River Stone Manor Terms repayable over an 8-year period (20-yearamortization) due in monthly installments of $3,545, includinginterest at 6%, paid in full during 2010 Interest Rate 6% Collatoral (d) Secured by a mortgage and assignment of rents relating to the property, subordinate to the primary lender andguaranteed by the principals of the related entities. 2010 Balance 0 2009 Balance 400,706
Company Rotterdam Ventures Terms repayable over a 5-year period, due inmonthly installments of $767, including interest at 5%, maturesMarch 2011 Interest Rate 5% Collatoral 0 2010 Balance 1,535 2009 Balance 10,417
Company Schenectady Family Health Services Terms repayable over a 20-yearperiod, due in monthly installments of $6,250, maturesFebruary 2026, interest free Interest Rate 0% Collatoral (u) Secured by a mortgage on the property, assignment of leases, all tangible business assets, and a guarantee bythe Health Resources and Services Administration, an agency within the United States Department of Healthand Human Services. 2010 Balance 1,137,500 2009 Balance 1,212,500
Company Schenectady Hotel Terms repayable over a 19-year period, duein monthly installments of $8,772, matures March 2027,interest free Interest Rate 0% Collatoral (z) Secured by a second mortgage on the property and a second lien position on the fixed assets of the entity. 2010 Balance 1,710,526 2009 Balance 1,824,562
Company Synthesis Architects Terms repayable over a 15-year period, due inmonthly installments of principal of $972, matures October2018, interest free Interest Rate 0% Collatoral (g) Secured by a third mortgage on the property, subordinate to the primary lenders, and personally guaranteedby certain principals of the entity. 2010 Balance 92,361 2009 Balance 103,055 Comments 3rd mortgage - Interest Free Company Tailwind Associates Terms repayable over a 10-year period, due inmonthly installments of $483, including interest at 3%,matures December 2015 Interest Rate 3% Collatoral (v) Secured by all business assets, landlord waiver of liens, and personal guarantees by the principals of thecompany. 2010 Balance 26,813 2009 Balance 31,720
Company Utech Products Terms repayable over a 15-year period (20-year amortization),due in monthly installments of principal ranging from$2,708 to $2,833, matures May 2019, with a balloon paymentfor the remaining balance, interest free Interest Rate 0% Collatoral (m) Secured by a mortgage on the property, subordinate to the primary lender. 2010 Balance 490,334 2009 Balance 527,167
Company Van Dyck Restoration (True Griffin Terms repayable over a 15-yearperiod, due in monthly installments of $1,036 beginning March2014, interest free until payments begin and 3% thereaftermatures February 2029 Interest Rate 3% Collatoral (m) Secured by a mortgage on the property, subordinate to the primary lender. 2010 Balance 150,000 2009 Balance 150,000 Comments No payments until 3/2014 at 0% Company Villa Italia Terms repayable over a 20-year period, due in monthlyinstallments of $1,667, matures November 2025, interestfree Interest Rate 0% Collatoral (x) Secured by a mortgage on the property, a lien on certain machinery and equipment, and personal guaranteesby the members of the company. 2010 Balance 298,334 2009 Balance 316,667
Company Zone 5 Regional Law Enforcement Training Center Terms repayableover a 15-year period (18-year amortization), due in monthlyinstallments of principal of $4,306, beginning September 2007,with a balloon payment for the remaining balance, interestfree, matures August 2022 Interest Rate 0% Collatoral (o) Secured by a first mortgage on the property in the amount of $527,500 and an assignment of New York State grant proceeds totaling $400,000. 2010 Balance 620,000 2009 Balance 671,666
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
Interesting that the Metroplex Financials provided above by TakingItBack show that the Metroplex holds a first or second mortgage on many of the listed properties. However, some just say that the collateral is "a mortgage". What position does the Metroplex hold on these properties? For several, including the Parker Inn, the Schenectady Metroplex is third in line for recouping the public's "investment" if the loan is not repaid. There have been cases in which the Metroplex allowed its position to be subordinated by another invester/bank. The risk assumed in such a case can result in the loss of investment.
Without clawback provisions and substantial and attainable collateral, the county residents lose should the loan not be repaid. I recall reading on the Metroplex website a few years back that $228,500 of a loan to the Northeast Parent and Child Society was forgiven "to induce the Child Center to make loan payments again".
Without clawback provisions and substantial and attainable collateral, the county residents lose should the loan not be repaid. I recall reading on the Metroplex website a few years back that $228,500 of a loan to the Northeast Parent and Child Society was forgiven "to induce the Child Center to make loan payments again".
And as I said on the 'old' Sch'dy site....Why would Metroplex care if a loan is paid back or not, since thier capital is endless?
"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
We found that local officials are doing the bare minimum to comply with mandated ethics requirements, and that gaps exist in awareness of and compliance with the provisions of municipalities’ codes of ethics. For example, even though all 31 of the local governments we visited had adopted codes of ethics, 16 percent of these codes did not address even the minimum number of ethics elements required by GML. Moreover, 52 percent of the municipalities had not distributed their codes to all their officers and employees, as required by GML. Our survey responses from local government CEOs, officials and employees showed that the lack of adequate codes of ethics and inconsistent distribution of the codes is widespread. Unless each local government adopts a code of ethics – and ideally a code that covers more than what is minimally required by GML – and vigorously enforces the code’s provisions, taxpayers can have little assurance that local officials are serious about identifying conflicts of interest and protecting public assets from misuse. [complete audit - pdf]
Public authorities are corporate instruments of the State created by the Legislature to further public interests. Public authorities have various levels of autonomy from the State based on the powers, as well as the constraints, built into their legislative mandate. Some public authorities are completely self-supporting and operate entirely outside the budget process, while others rely on State appropriations to fund operations. In addition, most authorities are authorized to issue bonds—without voter approval—to develop and maintain infrastructure, such as roads and schools, or to fund projects for third parties, including hospitals and nursing homes. The debt service for these bonds is usually supported by revenues of the project, such as tolls that are levied by the authority, fees paid by the third party or appropriated payments from the State to repay outstanding debt. The State has also assigned specific revenue streams to an authority as a way for the authority to pay debt service.
Unlike traditional State agencies, many authorities conduct business outside of the typical oversight and accountability requirements for operations including, but not limited to, employment practices, contracts and procurement procedures, and financial reporting. Each public authority is governed by a separate board of directors appointed by elected officials for varying terms of office.
The Public Authorities Accountability Act of 2009 (Chapter 506 of the Laws of 2009) will require many new measures designed to improve the oversight and accountability of New York’s public authorities. New reporting requirements including mission statements, measurement reports and capital projects reporting will provide more information on authority operations. In addition, the State Comptroller is granted discretion to review certain public authority contracts ensuring a higher level of oversight of public authority contracts.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Logged
When is the Gazetto going to match DEM contributions to Metrograft recipients? Only the Times Union can do any investigating reporting. This is an on going investigation by the Times Union. The FBI should come in and audit on the pay to play DEM morons. Right the developers are giving because they like the results-MORE CONTRACTS! 
