Sickening, isn't it???????
Profits slide at Ecology & Environment
By David Robinson
News Business Reporter
Ecology & Environment's first-quarter profits slid by 5 percent as a more than $800,000 gain from the sale of land near its Lancaster headquarters helped offset a 26 percent drop in its operating profits.
++++++++++++++++++++++++++++++++++++++++++++++
Supervisor B.Giza's efforts bear fruit for local Company's.
They receive IDA tax breaks on all their property's. They don't pay their fair share of local taxes. The land sold for over $900,000.00. -
As a result, E&E's profits slipped to $1.4 million, or 34 cents per share, from $1.48 million, or 35 cents per share, a year earlier.
-
So are we supposed to feel bad because their profits are only $1.4 Million instead of last years $1.48 Million PROFIT$$$$$$$$$$$
-
The $900,000.00 they made from the land sale was financed by Federal tax dollars, yes Federal money paid close to $40,000.00 an acre for wetlands that have been selling four $10,000.00 an acre.
-
The Lancaster Airport bought that land with Fed Money, they were given
$13 Million to expand their "Private Venture Airport"
-
Lancaster Airport and E & E are both recieving IDA Tax Breaks. So lets all feel sorry for those eating our tax dollars.
#Dems play musical chairs + patronage and nepotism = entitlement !
Sickening, isn't it???????
I think we need to give them a food basket. Sorry for the cheap shot, but in today's times we are getting embolden to these ridiculous tax breaks!
Thanx 4248
Is there a business in erie county that is their competitor?
Buffalo Web Hosting and Graphic Design
www.onlinemedia.net - www.vinyl-graphics.com
Web hosting / Web Design - Signs, Banners, Vehicle Graphics
The company's(E&E) revenues grew to $39.5 million during the quarter that ended in October from $33.7 million a year earlier as sales at its Walsh Environmental subsidiary soared by 74 percent to $13.9 million.
Most of the increase in Walsh's revenues came from additional work in the environmental cleanup and energy markets, E&E said in a filing with the Securities and Exchange Commission. That helped offset a modest decline in work on contracts that E&E has won from various states.
Excluding the sharply rising subcontracting costs at Walsh, E&E's revenues were flat at $29 million, company officials said Wednesday.
#Dems play musical chairs + patronage and nepotism = entitlement !
"Revenues rise, but profits slip at E&E"
-Let's recap people. They state profits slip, but had a gain from a land sale of $800,000 on 16.5 acres of land. stated in the Bufnews.
-To clarify according to Mr. Marrano~~or some office in his building~~E&E sold 20 acres.
~~~~To recap // clarify~~~What the hell is the correct information please?
well let's see, is it 16.5 acres or 20 acres? Did they sell it for 938,000 or 800,000?
~~~~~~~~~~~Let's do the math according to the Bufnew~~~~~~~~~
~~~~~~~938 divided by 16.5 equals 57,000 dollars an acre.
Holy you know what....only in Lancaster do we get variable numbers and figures. Now we are not debating the wonderful gain for E&E, what we are questioning is what is the real figures here?
This is just a guess. Maybe when they (E&E) purchased that property the acreage was calculated to be worth $129,000, then selling it for $938,000 would be an $809,000 gain.Originally posted by shortstuff:
"Revenues rise, but profits slip at E&E"
-Let's recap people. They state profits slip, but had a gain from a land sale of $800,000 on 16.5 acres of land. stated in the Bufnews.
-To clarify according to Mr. Marrano~~or some office in his building~~E&E sold 20 acres.
~~~~To recap // clarify~~~What the hell is the correct information please?
well let's see, is it 16.5 acres or 20 acres? Did they sell it for 938,000 or 800,000?
~~~~~~~~~~~Let's do the math according to the Bufnew~~~~~~~~~
~~~~~~~938 divided by 16.5 equals 57,000 dollars an acre.
Holy you know what....only in Lancaster do we get variable numbers and figures. Now we are not debating the wonderful gain for E&E, what we are questioning is what is the real figures here?
Georgia L Schlager
The numbers on Erie County's site state $940,000.
ERIE COUNTY CLERK'S OFFICE
OFFICIAL RECORDS PUBLIC SEARCH
DOCUMENT DETAIL: (LAND) Doc Type: DVO Doc Group: DEED CFN: 2009186013 Date/Time: 09/16/2009 10:38 Book Type: D Book/Page: 11169/6634 Pages: 4 Consideration: $940000.00 Status: V TT ID#: Tax ID#: TT2009003127 Legal 1: LAN 8-2 11/6
Parties D ECOLOGY&ENVIRONMENT INC R LANCASTER AIRPORT INC
Long Legal 1 Town Map/Hostel/Parcel Zip Prop Type LAN 4493 WALDEN AVE
Georgia L Schlager
I guess, we have to have trust in our assessor who stated that it was 20 acres. The Buffalo News don't always have the facts straight.Originally posted by shortstuff:
but what is the total acreage that was sold is the million dollar question.
Georgia L Schlager
But nowhere can I find the amount of acreage.From their own Buffalo News Erie County real estate transactions section-
http://www.buffalonews.com/407/story/847553.html
LANCASTER
• 4493 Walden Ave., Ecology&Environment Inc. to Lancaster Airport Inc., $940,000.
Georgia L Schlager
[QUOTE=gorja;583798]But nowhere can I find the amount of acreage.[/QUOTE
I believe kevinl had same issue not being able to verify exact acreage sold.
Concerning the E&E land sale
In speaking with the Town Assesor the following was learned:
The sale price to the airport was $940,000. The purchase information will not become available until sometime earlier in the year as there was a split - SBL - 95.00-4-20 will be split into E&E remaining property of 17.5 acres (with a building) with an SBL- 95.00-4-20.1. The property purchased by Lancaster Airport Inc. will have an SBL - 95.00-4-20.2
The parcel of land sold was 16.54 acres.
That would mean the airport paid near $57,000 per acre for undeveloped land, with frontage only on Ransom Road and backing up to railroad tracks. Outrageous? You betcha! But of course, the federal and state governments (taxpayers) will pick up the tab. Who did the appraisal for the airport?
Rebar (down the street from the airport) paid $350,000 for 48 acres (frontage on Walden); $7,292 per acre. Another piece of property on Walden and Cemetery was purchased for $14,000 an acre, more money because sewers were in.
The Vine Weseleyan Church at Bowen and William paid $850,000 for 55 acres of residential property; $15,455 per acre.
As I keep asking, who profits on the Lancaster Airport expansion. Certainly not the residents.
It has occurred to others and myself -
- that whenever the Town Board finally admits to knowing something -
- or why certain properties like the houses on William St aren't properly assessed,
- or seemingly unjust tax breaks are given by Lancaster's IDA or there is no enforcement of their conditions
- - SEQR reviews are flubbed, wetlands are wrongfully filled -
- $13 Million fed dollars used to expand the Lancaster Airport and residents raise safety issues - -
- Millions spent wrongly on the Cole Craft building deal
Why when all is said and done - the concerned tax payers are always wrong - no true corrective actions are taken by our elected officials , no tax revenue is recovered and developers always win!
Lancaster's Town Government is the best money can buy !
#Dems play musical chairs + patronage and nepotism = entitlement !
There are currently 1 users browsing this thread. (0 members and 1 guests)