Real Estate May 25, 2009 11:05 AM

Do You Know a Downtown Dweller?

Do You Know a Downtown Dweller?

Know someone currently living downtown?  If yes, your help is needed.  The organizers of Buffalo Homecoming's "Citybration" are  looking for downtown residents who are interested in participating in the fourth annual Downtown Housing Tour planned for Saturday, June 27.

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The free, self-guided tour is designed to let the public know what's in the works or what already exists with regard to downtown living spaces - spanning all the way from the Cobblestone District into the Medical Corridor.  With hundreds of units in over two dozen recent developments, plus historic properties in close-in neighborhoods, the public will be invited to see why an increasing number of residents are calling downtown Buffalo home.

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While decorated model and vacant units are great, we are looking for occupied units to showcase how people currently live downtown.  Downtown's current occupants are its biggest advocates and can play a key role in introducing others to downtown living.

If you, or someone you know, currently live in a downtown loft or condo and are interested in participating in the event, I want to hear from you!  Email me.  

The complete list of 2009 tour properties will be announced soon.
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this sounds awesome. i'm gonna be moving back to town and looking to live in the heart of the city. kinda have to look and dig hard to find these places online.

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I will look forward to hearing what downtown residents have to say. I have always wanted to know where they went shopping for groceries, what it was like at night, and the sense of safety.

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hey i live in the gheto!!!i have a good view of the dowwntown skyline A!! howard and jefferson !!!i live in a fortress !check it out !!!

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Ive heard of that place. Thats the building where the downspouts drain into a tank for drinking water in case of a muti day siege? I know where Im going to hide if the Canadiens decide to invade.

replied to warehousedweller
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That picture of the Webb Building is stunning. It kind of reminds me of a shot you'd see in a sitcom taking place in NYC like 'Will & Grace.' Very cool.

Too bad they knocked down the building next to it years ago to make room for another surface lot.

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I also live in the ghetto in an old warehouse, not far from warehousedweller. As far as "the sense of safety" is concerned, I think that "safety" is mostly an illusion or delusion no matter where you live!

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Anyone thinking about moving back to Buffalo and working for an up-and-coming business or plan on starting their own business should read this story first.

http://www.buffalonews.com/home/story/682828.html


Higher taxes drive small company out of Buffalo
After lifetimes in the Buffalo area, Nancy Bell and her sons are moving to Florida driven out, they say, by drastic changes to the Empire Zone program and big tax increases included in the state budget. And they will be taking their company, Science First, with them.


It's too bad nothing is being done to help keep the Bell's business and their employees in Buffalo.

SHAME ON NEW YORK STATE AND ERIE COUNTY!


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From the news: "Officials persuaded a local paper company to sell Science First some unused land for 25 percent of the market rate. They were offered up to $8,300 for every job created under a State of Florida program. A low-interest loan of $300,000 was put on the table. And the absence of a state income tax saves the family about $100,000 a year, the Bells estimated."

They're going to make more money in Florida, and the state is subsidizing their move. Should NYS subsidize companies $8,300 per job retained? How do you compete with Florida, when the two states and their citizenry have different political, social and economic priorities?

replied to rb09
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From nick: Should NYS subsidize companies $8,300 per job retained? In the case of Science First the answer is yes.

How do you compete with Florida, when the two states and their citizenry have different political, social and economic priorities? New York doesn't want to compete.
It's a pathetic state of affairs. The political, social and economic priorities of New York State are forcing people to leave.
It's a State that rewards you for being lazy and spits on you for working hard.

replied to nick
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1. I don't know whether the $8,300 would make sense, perhaps not, but it sounds as though if taxes weren't so high that wouldn't even be an issue. (Btw, NY state is offering Yahoo $809,940 per each of 125 jobs at a proposed data center over a 15-year deal, which is almost 100 x $8300.)


2. The Science First owners said the main reason they're moving froom Buffalo is NY state's recently raised income tax. From the Buffalo News article linked above by rb09:
"... Last fall, the family had no thoughts of fleeing. After buying out another company, the business was looking to relocate somewhere in Erie County. ...But hitting them far harder was the budget’s income tax increase on residents making more than $200,000 - a plan worth $4 billion this year for the state.
...Three-quarters of small-business owners pay taxes through filings as S-corporations or limited liability partnerships. That means company profits are taxed as part of their personal income. But the Bells say the money reported as income doesn’t go to their bank accounts. A large part goes to federal and state taxes, and then about 40 percent is driven back into the company to hire more people and buy equipment and expand.

So of the five family members involved in the business, the state tax rate for two will rise to 8.97 percent from 6.85 percent because their S-corporation filing lists their incomes at more than $500,000, and three others will pay more because their incomes exceed $200,000. “So there will be less to invest in the business,” Aaron Bell said. ..."


3. Science First isn't the only company who in the last week or so announced they're closing WNY operations. Two others are Ultron Lift Corp. (truck lift equipment - 60 jobs) and Midmark Corp. (medical, dental, veterinary healthcare equipment - 80 jobs), with both companies preferring Ohio:

http://www.buffalonews.com/businesstoday/localbusiness/story/679398.html

replied to nick
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An email I received from Tom Golisano:

Why I'm Leaving New York
(but continuing our efforts to change it)

Friends,


I love New York. But how much should it cost to call New York home? Decades of out of control budgets, spending increases and relentless borrowing have made New York simply too expensive.

Politicians like to talk about incentives: incentives for businesses to relocate, incentives to buy local and incentives to make smart decisions. After reviewing the 2009 budget I have identified the most compelling incentive of all: a major tax break immediately available to all New Yorkers. To be eligible, you need only do one thing: move out of New York State.

Last week I spent 90 minutes doing a couple of simple things-registering to vote, changing my drivers license, filling out a domicile certificate and signing a homestead certificate-in Florida. Combined with spending a 184 days a year outside New York these simple procedures will save me over $5 million in NY taxes annually.

That savings doesn't include that Florida has a 6% sales tax compared to NY's 8% or more. Florida has lower utility taxes. Lower gasoline taxes. Or that the Florida homestead certificate guarantees my property taxes will not grow more than 3%.

By moving to Florida I can spend that money on worthy causes like better hospitals, improving education and worthy projects like the Clinton Global Initiative. Or maybe I will continue to invest that money in fighting the status quo in Albany. One thing is certain, that money will not continue to fund Albany's bloated bureaucracy, corrupt politicians or regular handouts to the special interests.

How did we get here in the first place? It all starts with spending, spending and more spending.

BUDGET SPENDING

New York's budget was $72.7 billion in 1999. Ten years later it has ballooned to $131.8 billion. That growth is astounding but it continues to get worse. Each year, New York's budget has had 6% compounded growth, double the average rate of inflation (2.8%). Florida's budget, on the other hand, went down 8% this year.

HEALTH CARE SPENDING

New York spends $2,283 per person on Medicaid. That's the highest per capita spending in the nation and twice the national average. In the last decade the Medicaid budget has grown by 50% ($30 billion in 1999 and $45 billion in 2009). In almost every sector (hospitals, nursing homes, medicine, clinics, and home and community care) spending per recipient regularly exceeds the national average.

Faced with escalating costs and diminishing returns, Albany and their allies, the health care unions (SEIU has over 300,000 politically active members), had only one answer: increase taxes.

EDUCATION SPENDING

New York spends the most, per pupil, in America on education, spending 63% above the national average. Costs went up about 60% in the last decade ($12.7 billion in 1999 and $20.7 billion in 2009). Like health care, education is something worth spending on and worth investing in but we're spending more and getting less. New York City schools graduated 54% of high school students in 2007. Buffalo 47% and Rochester 45%.

Why? Perhaps it's because the New York State teachers union with its $114 million budget is always trying to convince Albany to spend more. Maybe it's because it's mandatory that all teachers pay union dues. Whatever the cause, when faced with potential cuts, the union and their allies have one response: increase taxes.

LOCAL GOVERNMENT SPENDING

It's not just the state. It's the range and breadth of many layers of governments and special taxing districts. In New York, the average state and local tax burden is $5,260 for every man, woman and child. That's by far the highest in the country. Like Albany, when faced with a difficult problem, these municipalities have one answer: increase taxes.

Upstate New York has been particularly hard hit. Add unreasonable real estate taxes to the uncontrolled state spending and you have whole communities decimated. The assessment process is unfair, unworkable and unreasonable and the result is that 15 of the 20 highest taxed counties in America are right here in Upstate New York. While homeowners in other areas build equity, we just pay more taxes.

NO ONE'S HOME

This problem did not begin with the current recession. New York faced a $6 billion shortfall before the economic downturn. However in the face of economic turmoil Governor Paterson, Speaker Silver and Majority Leader Smith looked to the unions and special interests who answered with one voice: raise taxes.

Among other taxes and fees, they raised the marginal tax rate on the most successful (and most mobile) New Yorkers to 8.97 percent, the second highest rate in the nation.

It was irresponsible and it may just prove to be counterproductive since the top 1% of earners account for about 50% of state revenue. We're the one who can-and will-leave.

It's not an easy decision but I'm being forced away from my family and friends, pain shared by too many parents and grandparents in this state.

I'm leaving. And by domiciling in Florida I will personally save $13,800 every single day. That's a pretty strong incentive.

Like I said, I love New York but I'm not going to pay any more for the waste, corruption and inefficiency that is New York State government.


TOM GOLISANO

Responsible New York

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Really? Who knew?

replied to rb09
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Looks like Florida is taking applications for subsidized citizenship. Only the wealthy need apply. BTW, the Canadians will never get that far.

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State and local govts here aren't subsidizing a lot of people too? Yahoo, Bass Pro, CarShare, One Sunset, downtown loft landlords and tenants, Hyatt Hotel, ArtSpace, on and on...


For NY to criticize Florida for this sounds like a pot/kettle thing.

replied to Pegger
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