53 Pilots Administered by Metroplex Generated $14.83 Million in Revenues
Contact: Ray Gillen, Metroplex
(518) 377-1109
(518) 461-7137 (cell)
53 Pilots Administered by Metroplex Generated $14.83 Million in Revenues for
Local Governments in Schenectady County in 2014
Schenectady, N.Y., January 8, 2015 — Metroplex today provided an annual update on Payment in Lieu of Tax (Pilot) agreements. A total of 53 Pilot agreements generated $14.83 million in revenues to local governments in Schenectady County in 2014 up from $14.18 million in 2013.
Forty-six (46) of the 53 projects were built at empty buildings, vacant land or formerly tax-exempt property. These sites generated either no taxes or minimal taxes prior to the economic development projects being built at these locations within Schenectady County. The other seven (7) projects were company expansion/retention projects that created new tax revenues. Only two agreements saw lower revenues last year while four remained level, six projects made first-time Pilot payments while 41 others increased their payments to local governments. Six new projects will make payments in 2015 continuing to increase the revenues generated by economic development projects in Schenectady County.
Ray Gillen, Chair of the Schenectady County Metroplex Development Authority said, “We are pleased to provide this annual update which shows that our unified economic development team continues to build tax base as it helps to rebuild Schenectady County.”
15 Projects Were Built on Formerly Government–Owned Land/Buildings or Tax-Exempt Land that Paid $0 in Taxes Now Paying $1,788,823 in Pilot Payments
MVP at 625 State Street in downtown Schenectady. Built on government-owned land that was returned to tax rolls. 175,000 square foot office building $357,347 up from $318,103 last year.
Hampton Inn at 450 State Street in downtown Schenectady. Built on government-owned land that was returned to tax rolls. 62,000 square foot hotel $167,787 up from $165,277 last year.
400 State Street in downtown Schenectady. Built on government-owned land that was returned to tax rolls. 60,200 square foot building $90,939 up from $62,536 last year.
Broadway Center in downtown Schenectady. Built on government-owned land that was returned to tax rolls. 140,000 square foot office building $321,795 up from $316,978 last year.
2135 Technology Drive in Schenectady. Built on government-owned land that was returned to the tax rolls. 22,000 square foot building $47,960 up from $45,422 last year.
Utech at 135 Broadway in downtown Schenectady. Government-owned building that was renovated and returned to tax rolls $26,790 up from $24,856 last year.
M&P Labs at 2210 Technology Drive in Schenectady. Built on government-owned land that was returned to tax rolls. $105,639 up from $101,538 last year.
Pace Analytical at 2190 Technology Drive in Schenectady. Built on government-owned land that was returned to tax rolls. $53,087 up from $49,602 last year.
2165 Technology Drive in Schenectady. Built on government-owned land that was returned to tax rolls. 27,000 square foot building $59,456 up from $55,554 last year.
426 State Street in downtown Schenectady. Built at government-owned building that was renovated and returned to tax rolls. 34,000 square feet $101,190 up from $89,054 last year.
Former Scotia Navy Depot in Glenville. Tax-exempt land and government-owned buildings that were renovated and returned to tax rolls. $287,352 up from $285,991 last year.
Columbia McClellan Group at 600 McClellan Street in Schenectady. 45,550 square feet built on formerly tax-exempt property $29,000 down from $38,771 last year. This Pilot was recently renegotiated with payments to increase to $53,000 in 2015 and $76,000 in 2016.
Fortitech at the Schenectady County Airport in Glenville. Built on government-owned land that was returned to the tax rolls. 95,000 square feet $104,780 up from $96,895 last year.
Bombers at 447 State Street in downtown Schenectady. Built at formerly government-owned building that was renovated and returned to tax rolls $22,951 up from $20,967 last year.
Schenectady Armory former State owned facility in downtown Schenectady. $12,750 first time Pilot payment on formerly tax exempt site.
11 Projects Were Built at Formerly Vacant Buildings that Paid No Taxes or Lower Taxes as Buildings Were Vacant Now Paying $1,436,104 in Pilot Payments
BN Partners at 1510 Maxon Road in downtown Schenectady. 240,000 square foot office building $610,281 up from $584,020 up from last year.
433 State Street in downtown Schenectady (Center City). $300,739 up from $229,583 last year.
Villa Italia at 226 Broadway in downtown Schenectady. $31,213 up from $29,041 last year.
JMR Development at 600 Liberty Street in downtown Schenectady. $75,000 same as last year.
411 State Street in downtown Schenectady. $24,849 up from $24,793 last year.
409 State in downtown Schenectady. $33,157 up from $32,952 last year.
World Star at 450 Duane Avenue in Schenectady. $176,246 up from $164,678 last year.
Mohawk Honda in Glenville. $105,033 up from $99,004 last year.
Columbia Altamont at 1925 Curry Road in Rotterdam. $37,346 up from $34,342 last year.
845 Broadway in Schenectady former vacant factory space redeveloped as housing. $30,000 first time Pilot payment.
301 Green Street former vacant window factory redeveloped as housing. $12,240 first time Pilot payment.
20 Projects Were Built on Vacant Land that Formerly Generated Nominal Taxes Now Paying $2,564,933 in Pilot Payments
Railex at the Rotterdam Corporate Park. 220,000 square foot warehouse built on vacant land. $325,135 up from $318,808 last year.
376 Broadway in downtown Schenectady. 24,000 square office building built on vacant land $82,152 up from $78,689 last year.
Marcella’s at 564 Broadway in downtown Schenectady. 16,750 square foot facility built on vacant land $68,619 up from $62,954 up from last year.
Unilux at Niskayuna Commerce Park. 67,000 square foot manufacturing plant built on vacant land. $125,122 down from $144,525 last year. Decrease as Empire Zone benefits end.
Opus Business Park in Rotterdam. Three buildings — 15,600 square foot building built on vacant land $22,920 up from $20,974 last year, 35,100 square foot building built on vacant land $66,825 up from $61,419 last year and 25,000 square foot building built on vacant land $53,219 up from $40,795 last year.
Dimension Fabricators at 2000 Seventh Avenue in Glenville. 152,000 square foot building built on vacant land $225,801 up from $223,081 last year.
Argo Turbo Serve at 588 Broadway in downtown Schenectady. 22,000 square foot building built on former vacant lot $41,797 up from $21,697 last year. Alco site in Schenectady. Vacant land brownfield remediation underway $40,000 same as last year.
FG Rotterdam Holdings in Rotterdam. 31,800 square foot office building built on vacant land $34,473 up from $33,629 last year.
EMI Properties in Rotterdam. 6,600 square foot facility built on vacant land $11,560 up from $10,641 last year.
NE IP Holding in Rotterdam Corporate Park. 50,000 square foot facility built on vacant land $146,795 up from $81,267 last year.
FM Ventures in Rotterdam Corporate Park. 152,000 square foot building built on vacant land $512,221 up from $496,037 last year.
Long Pond Village in Rotterdam. 192 unit apartment complex built on vacant land $227,117 up from $214,070 last year.
Capital Living in Schenectady. New skilled nursing facility paying $351,415 up from $298,854 built on vacant land.
New Target store in Glenville. Built at empty retail site $203,001. First time Pilot payment.
245 Broadway. New apartments with ground floor retail built on vacant land $9,280. First time Pilot payment.
Town Homes at Union Square. Built on formerly vacant land $4,000 same as last year.
Civco Realty 440 State Street $13,481 built on vacant lot. First time Pilot payment.
7 Company Expansion/Retention Projects Paying $9,041,351 in Pilot Payments
GE Global Research Center two Pilots in Niskayuna $385,239 up from $356,044 last year.
Kingsway Arms Nursing Center in Schenectady. New construction/addition of 56,000 square feet $270,747 up from $245,220 last year.
GE main campus $2,828,430 up from $2,786,087 last year.
GE Rotterdam. $4,800,000 same as $4,800,000 last year.
SI Group in Rotterdam Junction. 40,000 square foot expansion $692,539 up from $689,670 last year.
Golub Corporation Distribution Center expansion. $64,396 up from $58,629 last year.
New Pilots
A number of new Pilot payments will begin in 2015 including: 111 Liberty in downtown Schenectady – the redevelopment of former MVP building, a new office building at Socha Plaza in Glenville, the newly renovated former Grand Union at 2696 Hamburg Street in Rotterdam, the new Glenwyck senior housing facility in Glenville, the new CTDI facility in Glenville, and 202 State Street – a vacant building in downtown Schenectady that was renovated as apartments and ground floor retail.
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