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[Photo: The Sibley Building, Rochester, NY]
You Feel Abandoned? Don't!
So "Rob'em" left you for the State Department; she hasn't abandoned the upstate New York area..... she RARELY represented us anyway! Her "representation" philosophy is.... go with the money; go with the power. There's far-and-away more opportunities for both being the Secretary of State. Just as many tea parties, meet-and-greets, fund-raisers, but....... catering to a far more affluent clientele.
You Feel Abandoned? Don't [Part 2]!
The taxpayers' opinions matter less than ever in the selection of the "Rob'em" replacement. Guvner Dave has the constitutional right....nay-obligation.... to select her replacement. Even though polls revealing overwhelming support for a Cuomo appointment over a "Princess Caroline coronation," be prepared for the latter. Despite Andrew's comparatively far-superior resume'; despite the obama proclamation of less drama in federal governance, the princess is one of obama's friends.... as is Roland Burris...... [hint, hint!!] Leave it to Guvner Dave to do the right thing for the state....... to ensure that he's in line to receive federal giveaway money [ta Hell with what the public wants in its' representation!!]!!
Mayor Duffy;Maggie Brooks-A RenSq Solution?
Chicago Mayor Richard Daley has kicked hundreds of families out of their homes and relocated a cemetery full of buried bodies to build a whopping $15 billion airport expansion Chicago residents oppose, airlines don’t want and he doesn’t have the money to build.
The “O’Hare Modernization Project,” has enabled the city to seize 433 acres of land from surrounding villages under a special “quick-take authority” power given to Daley by the state. Bensenville, a middle class suburban community that borders the airport on the south and west corners, is one of those villages. So far, the city of Chicago has taken 600 parcels of land from Bensenville, representing 15 percent of the village’s total area. 533 of those parcels were single-family homes. Approximately 90 of them were businesses.
“It’s all been snatched up,” said Bensenville City Manager Jim Johnson, who opposes the project. Johnson is now trying to prevent the demolition of those homes because proper guarantees have not been made for the health and safety of the community.
While that battle is being waged in court, all that’s left are essentially vacant buildings, many of them livable homes in good condition.
Last fall, OMP completed its first phase, which involved the construction of a new $565 million runway and tower on the airport’s north side. Airlines are unsupportive of the project, calling it “inappropriate” and “ill-conceived” in letters to the Federal Aviation Administration. American, United, Delta, Northwest Airlines, Continental Airlines and ANA-All Nippon told the FAA the plan was flawed. One Delta Air Lines executive even called the plan an “impulsive grab for [tax] funds.” The airlines were specifically opposed to request made by the city to FAA to approve a tax increase on passenger ticket sales to raise $182 million to pay for second phase of the project. Daley has also sought federal grants from the FAA.
Daley’s insistence the project is completed by 2014 so that the airport can accommodate tourists traveling to Chicago in 2016 for the Summer Olympics, has also been ridiculed. (A site for the games has not yet been selected).
“We’d like to put a knife in this project,” City Manager Johnson said. “It is not about providing aviation capacity, it is not about providing any services for the traveling public and the taking of this property is unnecessary because the project doesn’t work and they don’t have the money to fund it.”
Mayor Daley doesn’t seem too concerned about these issues raised. He recently said he would bypass state legislators to lobby the federal government for funding under President-elect Obama’s $800 billion stimulus bill. “That’s how you do creative financing,” he added.
One could easily substitute the appropriate word/phrase in the report on Daley's shenanigans to fit the current Rochester boondoggle-"Renaissance Square."
Speaking Of "RenSquare......"
The Duffy Administration may have waited too long before "attending to business."
Now, the city may be stuck with yet another boondoggle..... the Sibley Building and Tower [photo, above].
One of the Wilmot family companies, RochWil-the one controlling the downtown Sibley Building, owes the city $18 million in past-due loans and other payments.
"I think we are at a point now where there is no intention to pay the outstanding debt," Mayor Robert Duffy said recently. "We are exploring options, right now."
At least twice in recent weeks the mayor has met privately with senior staff to review, yet again, the Sibley question and the city's inability to collect. But when it comes to not paying debts owed the city, the mayor said: "It certainly is not a cash-flow problem. There are major investments being made in (these) suburban malls."
The mammoth Sibley building and tower sit on East Main Street and has Monroe Community College is the largest tenant. The property accounts for almost all of the city's nearly $20 million in delinquent loans, payments in lieu of taxes (PILOTs) and other receivables.
Rochester and Monroe County government officials are considering changes, however, that would cancel future PILOT agreements if an owner defaults, and place liens against the property. But in the case of Sibley, the city's options are few to none. And Tom Wilmot, chairman of Wilmorite Inc., said his options are limited as well. Wilmorite is the Rochester company that created RochWil, a limited liability company that controls Sibley and is in arrears with the city.
"We're wiped out," Wilmot said, estimating that after collecting rents (including about $3 million annually from MCC), paying security and other expenses, the building runs a $600,000 to $1 million annual deficit. "There is no recovery plan we can figure out where we'll ever get a nickel out of this building. It would be cheaper for us right now just to mothball the place."
The only reason Sibley remains open is MCC, Wilmot said. Some of RochWil's payments are more than 12 years delinquent. But by creating RochWil as a limited liability company, with the Sibley Building being its sole asset, Wilmorite and all other Wilmot family assets are shielded from liability.
"The problem all along is the total complex of the building is not worth what the debt is on the building," Richards, the city's corporation counsel, said of Sibley. "If we could somehow force a resolution ... we would put ourselves in a worse situation than we are today." The city could find itself stuck, like Wilmot is today, having to assume the annual upkeep expenses.
Til Nex'Time......
Thursday, January 15, 2009
This'n'That; January 15th[paterson;rob'em;duffy-brooks;Sibley]
[Photo: The Sibley Building, Rochester, NY]
You Feel Abandoned? Don't!
So "Rob'em" left you for the State Department; she hasn't abandoned the upstate New York area..... she RARELY represented us anyway! Her "representation" philosophy is.... go with the money; go with the power. There's far-and-away more opportunities for both being the Secretary of State. Just as many tea parties, meet-and-greets, fund-raisers, but....... catering to a far more affluent clientele.
You Feel Abandoned? Don't [Part 2]!
The taxpayers' opinions matter less than ever in the selection of the "Rob'em" replacement. Guvner Dave has the constitutional right....nay-obligation.... to select her replacement. Even though polls revealing overwhelming support for a Cuomo appointment over a "Princess Caroline coronation," be prepared for the latter. Despite Andrew's comparatively far-superior resume'; despite the obama proclamation of less drama in federal governance, the princess is one of obama's friends.... as is Roland Burris...... [hint, hint!!] Leave it to Guvner Dave to do the right thing for the state....... to ensure that he's in line to receive federal giveaway money [ta Hell with what the public wants in its' representation!!]!!
Mayor Duffy;Maggie Brooks-A RenSq Solution?
Chicago Mayor Richard Daley has kicked hundreds of families out of their homes and relocated a cemetery full of buried bodies to build a whopping $15 billion airport expansion Chicago residents oppose, airlines don’t want and he doesn’t have the money to build.
The “O’Hare Modernization Project,” has enabled the city to seize 433 acres of land from surrounding villages under a special “quick-take authority” power given to Daley by the state. Bensenville, a middle class suburban community that borders the airport on the south and west corners, is one of those villages. So far, the city of Chicago has taken 600 parcels of land from Bensenville, representing 15 percent of the village’s total area. 533 of those parcels were single-family homes. Approximately 90 of them were businesses.
“It’s all been snatched up,” said Bensenville City Manager Jim Johnson, who opposes the project. Johnson is now trying to prevent the demolition of those homes because proper guarantees have not been made for the health and safety of the community.
While that battle is being waged in court, all that’s left are essentially vacant buildings, many of them livable homes in good condition.
Last fall, OMP completed its first phase, which involved the construction of a new $565 million runway and tower on the airport’s north side. Airlines are unsupportive of the project, calling it “inappropriate” and “ill-conceived” in letters to the Federal Aviation Administration. American, United, Delta, Northwest Airlines, Continental Airlines and ANA-All Nippon told the FAA the plan was flawed. One Delta Air Lines executive even called the plan an “impulsive grab for [tax] funds.” The airlines were specifically opposed to request made by the city to FAA to approve a tax increase on passenger ticket sales to raise $182 million to pay for second phase of the project. Daley has also sought federal grants from the FAA.
Daley’s insistence the project is completed by 2014 so that the airport can accommodate tourists traveling to Chicago in 2016 for the Summer Olympics, has also been ridiculed. (A site for the games has not yet been selected).
“We’d like to put a knife in this project,” City Manager Johnson said. “It is not about providing aviation capacity, it is not about providing any services for the traveling public and the taking of this property is unnecessary because the project doesn’t work and they don’t have the money to fund it.”
Mayor Daley doesn’t seem too concerned about these issues raised. He recently said he would bypass state legislators to lobby the federal government for funding under President-elect Obama’s $800 billion stimulus bill. “That’s how you do creative financing,” he added.
One could easily substitute the appropriate word/phrase in the report on Daley's shenanigans to fit the current Rochester boondoggle-"Renaissance Square."
Speaking Of "RenSquare......"
The Duffy Administration may have waited too long before "attending to business."
Now, the city may be stuck with yet another boondoggle..... the Sibley Building and Tower [photo, above].
One of the Wilmot family companies, RochWil-the one controlling the downtown Sibley Building, owes the city $18 million in past-due loans and other payments.
"I think we are at a point now where there is no intention to pay the outstanding debt," Mayor Robert Duffy said recently. "We are exploring options, right now."
At least twice in recent weeks the mayor has met privately with senior staff to review, yet again, the Sibley question and the city's inability to collect. But when it comes to not paying debts owed the city, the mayor said: "It certainly is not a cash-flow problem. There are major investments being made in (these) suburban malls."
The mammoth Sibley building and tower sit on East Main Street and has Monroe Community College is the largest tenant. The property accounts for almost all of the city's nearly $20 million in delinquent loans, payments in lieu of taxes (PILOTs) and other receivables.
Rochester and Monroe County government officials are considering changes, however, that would cancel future PILOT agreements if an owner defaults, and place liens against the property. But in the case of Sibley, the city's options are few to none. And Tom Wilmot, chairman of Wilmorite Inc., said his options are limited as well. Wilmorite is the Rochester company that created RochWil, a limited liability company that controls Sibley and is in arrears with the city.
"We're wiped out," Wilmot said, estimating that after collecting rents (including about $3 million annually from MCC), paying security and other expenses, the building runs a $600,000 to $1 million annual deficit. "There is no recovery plan we can figure out where we'll ever get a nickel out of this building. It would be cheaper for us right now just to mothball the place."
The only reason Sibley remains open is MCC, Wilmot said. Some of RochWil's payments are more than 12 years delinquent. But by creating RochWil as a limited liability company, with the Sibley Building being its sole asset, Wilmorite and all other Wilmot family assets are shielded from liability.
"The problem all along is the total complex of the building is not worth what the debt is on the building," Richards, the city's corporation counsel, said of Sibley. "If we could somehow force a resolution ... we would put ourselves in a worse situation than we are today." The city could find itself stuck, like Wilmot is today, having to assume the annual upkeep expenses.
Til Nex'Time......
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