Quoted Text

State could dissolve Rotterdam IDA
Group faulted for not carrying debt
Thursday, December 8, 2011
By Justin Mason (Contact)
Gazette Reporter

ROTTERDAM — The town Industrial Development Agency could face dissolution because it fails to carry any debt, according to a notice issued by the state Authorities Budget Office.
Director David Kidera informed the Rotterdam IDA that it appears in violation of a state law mandating that such agencies should maintain bonds or notes. Without such outstanding debt, he indicated that industrial development agencies must “cease to exist” and turn over all assets to the town.
“Please provide us with any compelling justification for why this language would not apply automatically and under what legal authority the Rotterdam Industrial Development Agency continues to act,” he wrote in October to Robert Mallozzi, the agency’s chairman.
But in a response issued late last month, Mallozzi said the Rotterdam IDA doesn’t need to issue bonds because its economic development projects are done without taking on any debt. In general, the Rotterdam IDA will take nominal title to a property to exempt a project from sales and mortgage tax or to offer a payment-in-lieu-of-taxes agreement.
Mallozzi also highlighted the Rotterdam IDA’s history of accomplishment, including more than $65 million in investment and the creation of 530 jobs since 2004. The agency had a hand in creating more than 736,000 square feet of commercial space in the town, including massive projects like Railex and Price Chopper’s frozen food distribution center in the Rotterdam Industrial Park.........................>>>>......................>>>>.....................http://www.dailygazette.net/De.....r01300&AppName=1

That is odd to require it to carry a debt.  

If it must carry a debt -- I suggest that the IDA take out bonds to run sewers down Hamburg Street and Curry Road

"The existence of an IDA in Rotterdam is most effective IF it was operated by the residents of the town." That's just the problem. The DEMS foolishly handed over control of the IDA to horrible Death Ray and Metrograft. One way Gillen strikes again!

This seems all too strange. How long has the rotterdam ida been in existence? Why now?
Doesn't anyone else think this is strange considering there were no issues from the state until Ray Gillen and 'others' have jumped on board?

If anything you'd think that the state would have objected to an 'INDUSTRIAL' Development Authority giving monies to a 'restaurant/bar' and a 'apartment complex' as opposed to INDUSTRY, which it was clearly created for......yes?

Something clearly seems amiss here!

Complaints have been filed in regards to how these organizations are operating.

Quoted from Shadow

Complaints have been filed in regards to how these organizations are operating.

Yes there have been many complaints filed.
The RIDA should be dissolved since it has not accomplished what it was created to do.
A gin mill or an apartment complex is NOT 'industry'.

However............if the Metroplex/Ray Gillen takes it over, rotterdamian's taxes will become the same as the city's. They will spend taxpayer's $$$$ like drunken solders. The only difference is that drunkin solders spend 'their own' money!!

Quoted from bumblethru

Yes there have been many complaints filed. The RIDA should be dissolved since it has not accomplished what it was created to do. A gin mill or an apartment complex is NOT 'industry'. However............if the Metroplex/Ray Gillen takes it over, rotterdamian's taxes will become the same as the city's. They will spend taxpayer's $$$$ like drunken solders. The only difference is that drunkin solders spend 'their own' money!!

EXACTLY! It's delicious when DEMS are hoisted on their own pittard. Love the phony baloney jobs figure. DVR has been yakking about consolidation-so here you go. It became another cash register for failed Metrograft. Can't wait to hear the idiotic spin on this one. The last thing we need is different entities working together to screw the taxpayers. Thank you Gov Cuomo! Next eliminate Metrograft!

Metroplex is also under the microscope for failing to accomplish their goals as well, we can only hope that the state will do the right thing and eliminate both organizations.

The Rotterdam IDA under GOP management handed out "facade grants" like chewing gum -- often ignored proper paper work and procedures --- just handed out money to those who gave to the GOP campaign war chest.

Quoted from benny salami

EXACTLY! It's delicious when DEMS are hoisted on their own pittard. Love the phony baloney jobs figure. DVR has been yakking about consolidation-so here you go. It became another cash register for failed Metrograft. Can't wait to hear the idiotic spin on this one. The last thing we need is different entities working together to screw the taxpayers. Thank you Gov Cuomo! Next eliminate Metrograft!

Funny too........the rida went off track when Angelo Santabarbara and Parisi came on board!! If memory serves me correctly, the gazetto published some article on how Santabarbara didn't file relevant reports on time. But hey, that's when Angelo Santabarbara was a rep. Now the dems have him! Now that is working together! Perfect match, eh?
And that my cyber friends is why the dem party is called the 'party of whores'!

Quoted from bumblethru

Funny too........the rida went off track when Angelo Santabarbara and Parisi came on board!! If memory serves me correctly, the gazetto published some article on how Santabarbara didn't file relevant reports on time. But hey, that's when Angelo Santabarbara was a rep. Now the dems have him! Now that is working together! Perfect match, eh? And that my cyber friends is why the dem party is called the 'party of whores'!

The State can't find any useless purpose? ROTFLMAO!! All the turkeys have come home to roast. No IDA should be funding governmental gin mills or apartments. The quote is another comedy classic. Perfect example of working together DEM style. The same idiots raping the taxpayer at the County and town level. Hooray for the DEM friends and family club-screw you. Got hot wings?

Quoted from DemocraticVoiceOfReason

The Rotterdam IDA under GOP management handed out "facade grants" like chewing gum -- often ignored proper paper work and procedures --- just handed out money to those who gave to the GOP campaign war chest.

...Oh...So you agree with eliminating it?  Or do you just think its better when YOUR party grants favor on the taxpayer dime to grow the Democrat war chest?

Quoted from CICERO

...Oh...So you agree with eliminating it?  Or do you just think its better when YOUR party grants favor on the taxpayer dime to grow the Democrat war chest?

He's for consolidation! Only of REP held positions-no? Death Ray Gillen strikes again! He has moved from imploding revenues, imploding County resale values, to imploding entire IDA's. You can't make this up. Once you let Metrograft in- nothing is left. A bunch of vultures picking at the carcass of the taxpayers.

I have been for consolidation into a single city-county for almost 30 years  ----  and actually I wouldn't stop with just consolidating all of Schenectady County into a single municipality --- I have always favored the proposal made almost 120 years ago to create a single municipal government for the "Capital District of New York".   This was first proposed in the 1890's at the same time that the 5 cities  (New York, Brooklyn, Queens, Nronx and Staten Island were merged into a single 5 borough New York City) ... and it would have started by having a single Capital District Police Department.     BTW -- that is when the term "Capital District" was first popularly used.

The current IDA is much better run than it was under the GOP administration -- It is great that it is working with Metroplex and the Schenectady County Economic Development Office.   At some point -- I can see the wisdom in having a single IDA for the entire county .. instead of several competing entities.

And I will NOT apologize for holding these positions or back down from them.

Working together works! Thank you Gov Cuomo! Next dissolve Metrograft. Everything these idiots get involved with collapses. RIDA funded a gin mill and apartments but much better than it was?- lol.