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Post by dgriffin on Apr 28, 2009 18:17:45 GMT -5
 Consumer Square up for sale 14 malls in western New York and one in New Hartford are among the 52 retail properties being sold by a joint venture between Developers Diversified Realty Corp. and Macquarie Group Ltd., Australia's largest investment bank. www.wktv.com/news/local/43875082.htmlNo real news here, given the economy and the fact that most of us have been wondering for years how the hell all these malls could support themselves. They increased in number faster than the population, it seemed. Usually, developers didn't lose any real money, because of tax treatment and accelerated depreciation, etc.
So what is to become of the buildings? Taxpayers may be losing big time, if the developers and owner's lawyers haven't already reduced their property taxes substantially through various tactics.
I'm wondering if they won't become limited income housing. Federal money combined with state to renovate buildings (create jobs!!), and pay PILTs to offset lost tax revenue. Someone will surely tell you it's a WN-WIN situation! And the parking lots will provide a nice free fire zone. (As in bang-bang, not smoke-crackle.) |
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Post by rodwilson on Apr 28, 2009 19:05:18 GMT -5
Dave I hope you're not knocking affordable housing and the temp construction jobs it creates because Angelo says that would be "myopic and thoughtless" and might get your site shut down  We just had this happen to us here. They reassessed the Whitestown Shopping Center at $2.2 mill lower than it had been and guess who gets to eat the difference? We actually have a tax increase and are spending LESS $$$ than last year. |
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Post by Clipper on Apr 28, 2009 19:25:22 GMT -5
Myopic is a pretty big word for Angelo isn't it??  |
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Post by rodwilson on Apr 28, 2009 19:44:22 GMT -5
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Post by rodwilson on Apr 28, 2009 19:48:50 GMT -5
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Post by dgriffin on Apr 28, 2009 19:54:19 GMT -5
The last line of your retort is a jewel: "The “not a politician” bit is old too. You put your name on the ballot; you’re a politician, just not a very good one!"
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Post by Clipper on Apr 28, 2009 19:54:33 GMT -5
I saw it and LOVED it. Very well stated, and 100% on point. It is no wonder that it put Angelo into Orbit. If you say "good morning", he is most likely stuck for an answer, so I can't imagine him coming back with anything intelligent in response to a REAL question.
He probably had to call Uncle Dave. Uncle Dave probably said, "As soon as I unload this stiff at the funeral home, I will come into the office for a few minutes. Don't panic!" LOL
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Post by rodwilson on Apr 28, 2009 20:05:48 GMT -5
BTW, I never did get a response to that email.
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Post by frankcor on Apr 29, 2009 10:14:42 GMT -5
I thought Time-Warner administered your punish... er ... response?
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Post by rodwilson on Apr 29, 2009 10:23:53 GMT -5
LOL, too true! I just talked to them this morning and they're still playing dumb so I've since talked to the ATTY Generals Office and a private attorney.
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