Quoted from rachel72

Proctors wanted 440 State for 'the arts' and did renovation under this guise. The Plex freely gave 1/2 million and another $30K  for its facade.

Then Proctors turns around and sells it for $650K to Transfinders??

So Proctors, the non-profit, walks away with.....

$650,000 from Transfinders
$500,000 restoration grant
$ 30,000 facade grant

$1,180,000 in Proctors pocket??? This doesn't smell right? What's next.....they decide to sell the Theater to Transfinders for $1???

There is taxpayers invested 1/2 million in 440.....ONLY FIVE YEARS AGO! This transaction should be illegal.

Of course this transaction is illegal. Only Gillen could get away with such thievery!! As long as they continue to have a dumbed down, welfare ridden society and the select few that will continue to secure their place in line at the bank......they will continue to bleed the taxpayers.

Quoted from bumblethru

Of course this transaction is illegal. Only Gillen could get away with such thievery!! As long as they continue to have a dumbed down, welfare ridden society and the select few that will continue to secure their place in line at the bank......they will continue to bleed the taxpayers.

The rape of the taxpayers continues in the name of DEM moron "progress". If this was so wonderful why not announce it before Election Day? lol.

Here's a great review of the IOOF hall and the destruction of our history   http://tinyurl.com/AppreciateIOOF

Lok at Page 5.  Wow.  Maybe that was the attempt at archiving....

http://www.cityofschenectady.com/pdf/development/citywideplan_feb08.pdf

Quoted from benny salami

The rape of the taxpayers continues in the name of DEM moron "progress". If this was so wonderful why not announce it before Election Day? lol. Here's a great review of the IOOF hall and the destruction of our history:          http://tinyurl.com/AppreciateIOOF

Keep the DEM implosion going! Proctor's must be taken care of-taxpayers can all go to hell. Nothing is more important than the deal. Especially to a favored non-profit. No not Union College. Your Metrograft Authority at "work".  

It is rather easy to see both sides of this issue as there is tremendous demand from the business community to open their operations in Class A office space Downtown.....It is only because the Democrats who manage the County and City have been able to attract so many businesses into downtown. This truly is a Renaissance!

Then why is there so much vacant office space Downtown? You DEM morons should sell Trustco HQ for a $1 to get it back on the tax rolls. Right-there is no much demand so that no one would pay a dollar for it. Ditto the Armory that was passed on by GE Solar. Keep the DEM moron implosion going!

Quoted from benny salami

Then why is there so much vacant office space Downtown? You DEM morons should sell Trustco HQ for a $1 to get it back on the tax rolls. Right-there is no much demand that no one would py a dollar for it. Ditto the Armory that was passed by GE Solar.

So much commercial space demand that The Parker Inn....  

Quoted from TakingItBack

So much commercial space demand that The Parker Inn....  

Or Gillen's Gulch aka {Robinson's}, or Olender's, or Trustco HQ, or Center City, or all of State St below Erie. How about the proposed bagel shoppe on lower Union? ROTFLMAO!!

There are more businesses located along State Street  between  Nott Terrace and Erie Blvd TODAY -- than there was 8 years ago after years of Republican mismanagement of the Schenectady County Legislature.  Democrats have proven time and again that  WORKING TOGETHER WORKS AND PRODUCES POSITIVE RESULTS.

Quoted from DemocraticVoiceOfReason

There are more businesses located along State Street  between  Nott Terrace and Erie Blvd TODAY -- than there was 8 years ago after years of Republican mismanagement of the Schenectady County Legislature.  Democrats have proven time and again that  WORKING TOGETHER WORKS AND PRODUCES POSITIVE RESULTS.

And how much is the cumulative assessed value of those properties compared to then?  That's the part that will be affecting my tax bill at the end of the year.  My assessment is that it's quite a bit lower.

VERTICAL GARDEN
   A third grant of $73,000 is going to Proctors’ 440 State St. to create a “living wall” opposite the Hampton Inn.
   Morris said the plan is to build a trellis along the exposed wall that faces the Hampton Inn parking entrance. “We will grow a vertical garden, which will be started next spring. This winter, we will paint the wall,” he said.
   The wall was exposed when adjacent buildings were demolished to create shovel-ready space for the aborted Diamond Cinema project years ago and then for the Hampton Inn.
   The 440 State St. building is owned by Proctors and contains a 100-seat theater and other space for cultural activities. It is part of the new Proctors facility, consisting of the Proctors main stage and the GE Theatre, which contains 450 seats and offers Iwerks movies.  

Transfinder Corporation Relocation Project: Resolution 711-11 — Adopt SEQRA Resolution

The environmental review of the Transfinder project clearly fell with the parameters of the original Proctors Block Findings Statement adopted by the Board in November 2003. The building at 440 State Street is historically significant. When Proctors accepted a $150,000 Heritage Area grant for the building about ten years ago, the Office of Parks, Recreation and Historic Preservation (OPRHP) imposed certain deed restrictions requiring, among other things, adherence to federal preservation standards

Plans call for demolishing a portion of the structure at 440 State Street and enlarging the building to 26,000 square feet for consolidating and expanding the company’s corporate headquarters. The total project cost is $4.2 million. Metroplex participation includes a $150,000 project renovation grant, a $60,000 façade grant and a partial exemption from real property taxes until March 1, 2012.

"Proctors originally borrowed $600,000 from Metroplex for construction in 2007, and repaid $300,000. When Transfinder acquires 440 State Street, Proctors then repays $150,000 to Metroplex that will then be used to repay OPRHP for Heritgae Area grant to Proctors thereby removing the deed restrictions on 440 State Street. Ms. Jordan moved Resolution 713-11; seconded by Mr. Chapman. "

SO, let's get this straight:

Proctors still owes Metroplex $300,000 for 440 State...but will be relieved of this when...

Proctors 'repays' Metroplex for the $150,000 Heritage Grant AND THAT MONEY THEN GOES BACK TO TRANSFINDERS IN A $150,000 METROPLEX GRANT!!!!! WTF!!!!

What about the $73,000 Vertical Garden Grant???? What about the $30K DSIC facade grant?!?

The vertical garden sounds like a nice touch for downtown -- and there is certainly enough manure left over from Pat Zollinger's campaign to use as fertilizer.