2nd Quarter 1999

The current debate regarding population shifts from the City of Rochester and Inner Ring Suburbs is raging. Political battle lines are being drawn. Those looking to slow development of farmlands into residential subdivisions cite loss of farmlands, increased demand of services and increased traffic flow resulting in a diminished quality of life following development. Others believe that development trends can be managed at their current levels. I say, let markets behave like markets.

During the late 1980's, the Federal Government eliminated tax benefits being used by real estate investors. The sudden rule changes upset the balance of the market and it took years to re-order supply and demand, especially in the office and apartment markets in the Rochester area. Another example, the American with Disabilities Act (ADA) mandated costly changes for small businessmen with real estate assets. Government mandates attempt to legislate benefits (ex: tax credits) for a specific action, when this happens, investor and user motivations are skewed away from the natural occurrence of supply and demand. Major legislative changes regarding real estate from Federal or State mandates disrupts local markets.

Development issues are best handled on the local level where market participants and elected officials can weight benefits or detriments of specific proposals on a case by case basis. Updating local zoning ordinances or enacting master plans for specific municipalities can outline particular development agendas and developers can plan land purchases and positioning in the market. These developers purchase land years in advance in anticipation of development trends. Continuity of development along commercial corridors or extension paths of sanitary sewer systems holds down development costs and ultimately the final cost to the user of the real estate, tenant or owner.

Sprawl legislation would attempt to limit suburban growth in favor of urban re-development. An example of why this legislation is not needed can be found examining the supermarket and pharmacy phenomenon. Both Wegmans and Tops constructed super stores in suburban locations over the past 5-10 years. At a particular distance from city center, population thins and feasibility for additional stores at the fringe of development is low. Hungry for growth and an expanding market share, Tops Markets has constructed a number of "inner city" stores of a smaller scale to service city residents. Pharmacies have mirrored this growth. These businesses have recognized the potential of city stores without government intervention.

Another example of city revitalization is the Lake Avenue corridor. The boulevard was recently strewn with vacant building shells and empty sites after the car dealerships moved out in the late 1980's and early 1990's. Now the roadway is experiencing a mini boom. The success of this development can be found at the newly constructed Hollywood video on Driving Park and Lake Avenue. This store is one of their highest grossing stores in the chain. The value of the land along Lake Avenue slipped with demand to a point where investors could afford to feasibly re-develop the land to the highest and best use. Again, government intervention or initiatives are not driving this activity. Market participants are driving this development based upon decisions made using the profit motive, the basis of our capitalistic system.

Uninhibited supply and demand are the basis for a balanced real estate market. As long as demand for newer housing in suburban locations continues, build them. Since our overall population is not growing, ultimately, this demand should slow. Considerable development in suburban locations will increase traffic flow. In the future, suburban residents, disappointed with the delays, may again demand a more urban locale. Many scenarios are possible. The City of Rochester and Inner Ring Towns have good quality housing with building materials and appeal not found in the typical suburban tract home. Our next generation may demand such homes, rejecting the sameness of tract living, fueling demand and revitalization of older home living. The direction of future markets is an unknown and for this very reason, all Federal or State mandates on development restrictions should be opposed.

Xerox Corporation-- Xerox Corp. distributed $40.2 million in 1998 employee bonuses, padding the cash and 401(k) deferrals with 2.5 million Xerox stock options. Xerox's 13,900 local workers elected to receive $24.2 million in cash and $16 million in 401(k) deferrals. This is the fourth year in a row employees have received 10% of their annual salary, the maximum allowed. Xerox plans to change the way it calculates profit sharing for next year's bonus. Instead of basing the bonus on return on assets, it will use growth in earnings per share. The maximum payout will increase to 15%. Half will be cash or 401(k) deferrals, 25% will be automatically deferred to the Xerox stock fund in the 401(k) plan, and the remaining 25% will be paid in Xerox stock options. (3/16)

Eastman Kodak Company-- Eastman Kodak Co. reported earnings of $191 million during the first quarter, down from $272 million for the fourth-quarter of 1998. Kodak's first-quarter sales, $3.1 billion, posted the first year-over-year increase in eight quarters. Sales of digital products were $537 million in 1999's first quarter, 17% of revenue, up from $348 million, 12% of revenue, in 1998's first quarter. Losses are approaching $750 million. (5/12)

Eastman Kodak Leadership-- Kodak announced that Daniel A. Carp, currently president and chief operating officer, would replace George Fisher as CEO January 1, 2000. Fisher will direct long-term strategy as chairman until January 2001 and then leave the company. Kodak said the decision was made to allow the company an orderly transition as it begins to plan its strategy for 2000 and beyond. (6/10)

Bausch & Lomb Inc.-- B&L sold its sun-glass business to Luxottica Group SpA, Italy's largest eye-glass company and owner of LensCrafters retail chain for $640 million. Terms of the contract require Luxottica to keep all of B&L sunglasses division employees in their current jobs, at the same location, at current salary and with comparable benefits during a one-to two-year transition. Proceeds of the $640 million cash sale will be used by B&L to pay debt that it took on in 1997, when the company bought two companies that make instruments for eye surgery. (4/29)

Canandaigua Brands Inc.-- Canandaigua Brands Inc. reported a fourth-quarter net income of $12 million and $62 million for fiscal 1999. Net sales reached $459 million during a three-month period from December through February, a 63% increase over fourth quarter 1998. Net sales for fiscal 1999 were $1.5 billion, a 23% increase over last year. Gross profits improved by $58 million, or 73%, in the fourth-quarter and reached $448 million for the year, a 30% increase over fiscal 1998. Net sales for Canandaigua-based Canandaigua Wine Co. Inc. increase by 3% in the fourth quarter. (4/15)

Banking-- Chase Manhattan Corp. has sold 29 branches in Buffalo, Jamestown, Binghamton, Corning, Albany and Schenectady to M&T Bank Corp. for an undisclosed price. The sale will have no impact on Chase's Rochester operations. The branches have about $600 million in retail and business deposits, making the deal slightly larger than M&T's just-completed purchase of First National Bank of Rochester. The acquisition will raise M&T's branch count in New York and Pennsylvania to more than 265. (6/5)

Home Sales-- According to the Genesee Region Real Estate Information Service of the Greater Rochester Association of Realtors, home sales in the Monroe County region for the year to date are up 13% over 1998. City home sales are up 7.9% over 1998. A total of 796 existing single-family houses were sold in April, an increase of 7.6% over March and 3.5% over April 1998. Housing prices are expected to rise 3-5% this year due to fewer houses on the market - 14% less than in 1998. (5/8)

New Construction-- According to the Commerce Department, construction of new homes and apartments dropped by 10.1% in April. Builders started work in April on 1.57 million units at a seasonably adjusted annual rate. Housing starts fell by .06% in March and 3.7% in February. The West was the only region of the country that experienced growth in housing construction - it rose 2%. (5/18)

Unemployment-- The nation's unemployment rate declined to a new 29-year low of 4.2% in March. The economy generated approximately a quarter-million new jobs in April. Manufacturers cut 35,000 jobs in March, bringing the decline for the past year to 381,000. Over the past year, losses have been most severe at factories making industrial machinery, apparel and electrical equipment. (4/2) According to the Labor Department, April's overall jobless rate was 4.3%. Statewide, private-sector jobs grew 1.7% for the fiscal year that ended March 31st. The number of non-government jobs in the Buffalo and Rochester regions grew by only 0.2% and 0.4%, respectively, compared to the national figure of 2.2%. (5/8, 5/11)

Higher Education-- According to a national evaluation of the impact of colleges and universities on a community, Rochester ranks higher than many larger metropolitan areas. Researchers at the Center for Governmental Research used data reported to the federal government by colleges and universities in the 60 most-populous areas to rank them in 20 categories. Most of the data is based on 1996 and 1997 activities. Rochester and its surrounding counties ranked 52nd in size of population. Total expenditures on higher education of $1.5 billion place the Rochester area 22nd in the nation. Rochester ranked 31st in the number of bachelor's, master's and doctoral degrees awarded in 1997, with 9,552. In the total number of people employed in higher education, Rochester, with 19,954 jobs, ranked 23rd. One of the reasons cited for Rochester's high position relative to its size was longevity. (5/3)

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Brighton-- The Town Board accepted developer, Bruce Gianniny offer of $200,578 by approving his plan to build a hotel and office complex near Linden Avenue and Route 441. Gianniny needed a part of the property rezoned from residential use to office park use. Plans call for an expansion of Linden Oaks Office Park by creating a six-story hotel, two office buildings, and a restaurant. The money has been put into a town fund for park development. Construction is expected to begin sometime next year. (4/30)

Perinton-- Christa Development Corporation has begun construction/preleasing on a 75,000 square-foot brick office building located in the Corporate Crossings Office Campus. The three-story class A office space, located off Sully's Trail is slated for occupancy in the Spring of 2000. (5/21)

Rochester-- Buckingham Properties LLC is planning to relocate its headquarters to 1 South Washington Street . In addition to leasing and managing the building, Buckingham has plans to renovate the largely vacant 55,000 square-foot structure. The Natapow Management Group, which owns First Federal Plaza, bought the Washington Street building last August for $1.5 million. (4/9)

Rochester-- Rochester Gas and Electric Corp. will move its main customer service office into the first floor of the 102-year-old Triangle Building at East Main Street and East Main. The utility will lease 7,500 square feet of space from Flaum Management and become the first new tenant in the vacant building. County records show the owner David Flaum paid $50,000 for the five-story building in December 1997. John Summers, the previous owner, paid $1.275 million for the property in 1987. (4/15)

Rochester-- Charter One Auto Finance Corp., which currently leases the third floor of the Sibley building has signed a lease on 30,000 square feet of new space. The new space brings Auto Finance Corp.'s total square footage in the building to 85,000. The company has taken an option on 10,000 additional square feet on the eight floor. The firm's expansion comes after Charter One pulled its downtown branch and two floors of offices out of neighboring Midtown Plaza in January over a lease dispute. (4/2)

Rochester-- The Rochester satellite office of the Make-A-Wish Foundation of Western New York has recently moved into Suite 150 of 1425 Mt. Read Blvd. Make-A-Wish is a non-profit organization that grants wished to local children between the ages of 2 and 18 years of age. (Spring 1999)

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Canandaigua-- Richard Carvotta, owner of the former Colonial Inn, has halted construction at the future MacGrgor's Grill & Tap Room. Carvotta wants to increase the building's seating capacity from 99 to 129 without adding the required sprinkler system. The Department of State bureau in Rochester concurred with the city of Canandaigua Zoning Officer in denying Carvotta's variance request. Carvotta is willing to let the former Inn sit rather than install the $30,000 sprinkler system. (4/16, 4/20)

Canandaigua-- Ralph Gullace, of Dispatch Management in East Rochester, has purchased the 44,000 square-foot Wickes building on Route 332. The building has been empty since February 5th when Wickes closed the doors as part of a reorganization effort. According to the architectural drawings submitted to the town Planning Board, the interior would be 41,200 square feet, and would house several vendors with a common courtyard. Two prospective tenants for the building are already interested in the location. (5/18)

Canandaigua-- Cole Muffler has moved into the building at 2375 Route 332, formerly occupied by Goodyear Auto Service. The business will employ four to five people, and plans to hire two to three exhaust and brake technicians. (4/22)

Gates-- Westgate Plaza's owner, Buffalo-based Benderson Development Co., plans to build a 200,000 square-foot retail store, as well as three additional outlets at the plaza and on land across the street. Wal-Mart and Eckerd Drugs have agreed to lease space in the new buildings. Plans call for most of the existing buildings to be demolished to make way for the Wal-Mart. The Planning Board approved Benderson's preliminary site plans for the 13,286 square-foot retail building that will be occupied by an Eckerd Drug store. Plans would require moving Westgate Park across Howard Avenue and reducing the buffer zone behind Wal-Mart to 130 feet. The Town Board voted to ask the state to relinquish control of Westgate Park, so that the town can relocate it to make room for the Wal-Mart superstore. The resolution requires the approval of the state Senate, the Assembly, the state Office of Parks, Recreation and Historic Preservation and Gov. George Pataki. (3/26, 5/4, 5/26)

Henrietta-- Developer David Flaum has purchased Cohoes Commons, located on Jefferson Road, from the Simon-DeBartolo Group for $4.2 million. The 272,500 square-foot strip plaza lost its main tenant last year when Cohoes moved its store to Pittsford Plaza. (3/26)

Irondequoit-- The Planning Board granted preliminary site plan approval for a new Home Depot at 1111 E. Ridge Road. The 116,200 square-foot store will be in the space that formerly held Caldor. Home Depot will also take over the Michael's Arts and Crafts Site. Home Depot needs final Planning Board approval as well as a variance from the Zoning Board of Appeals in order to start construction. (4/27)

Mendon-- The Mendon Farms Big M grocery store has closed, leaving the area without a neighborhood supermarket. The 10,500 square-foot store in a mini-mall on Assembly Drive, of Route 64, opened in 1989. The closing is not expected to affect other Big M stores in the area. (3/24)

Rochester-- New York City-based Blackacre Bridge Capital, the lender who financed Arnold Industries' purchase of the 1.3 million-square-foot Midtown Plaza moved to foreclose on the plaza and take ownership of it. Blackacre says Arnold defaulted on its mortgages by failing to make $4.4 million in required payments. Blackacre, which lent $18.5 million to Arnold to purchase the complex from the McCurdy family in November 1997, said it wants to take control of the plaza and "stabilize" management of it. (5/27)

Rochester-- McCrory's, the York, Pa.-based variety store chain, is re-establishing its downtown presence in a smaller location just two doors down from the 21,000 square-foot store they closed earlier this year. The 8,000 square-foot facility is located on East Main Street in the space formerly occupied by a Rite-Aid drug store and is scheduled to open by April 1st. (3/16)

Victor-- Benderson Development, a Buffalo-based firm, hopes to develop a 200,000 square-foot Wal-Mart superstore on a 94.4 acre parcel on the east side of Route 96. The property, which stretches from the New York State Thruway to Route 96 along I-490, was purchased by Benderson Development last spring for $4.25 million. The land is assessed at $1.1 million. The store would employ 450 people and pay an estimated $200,000 in annual local property taxes, returning an estimated $3 million a year in estimated sales tax revenue. In addition to the Wal-Mart, Benderson also plans a 165,000 square-foot retail store, a three-story, 122-unit hotel at the south end of the property, and about 170,000 square feet of office space. (3/26, 4/30)

Victor-- Borders Books and Music, owned and operated by Borders Group Inc., plans to open a new 23,000 square-foot store at the intersection of Route 96 and Turk Hill Road this summer. The store will be the second Borders in the Rochester market. (3/19)

Victor-- Electronics chain Circuit City will be the second of three retail tenants in a Benderson Development Corp. project opposite Eastview Mall. The 20,000-30,000 square-foot store will be the third for the Richmond, Va. based company in the Rochester area. Circuit City currently operates locations at Greece Ridge Center Mall and across from The Marketplace in Henrietta. (5/8)

Victor-- The former Caldor store next to EastView Mall, vacant since 1996, will be reopened as a BJ's Wholesale Club. BJ's must file an application for modifications to the façade and a reconfiguation of parking spaces at the 113,000 square-foot site. (4/30)

Victor-- Linens 'n Things will open its third Rochester-area store this fall at EastView Commons. The Clifton, N.J. based housewares and home accessories retailer will be the first of three tenants in a 90,000 square-foot building under construction adjacent to the Target Store. Linens 'n Things will take approximately 35,000 square feet of space. The store is scheduled to open next year. (5/12)

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Avon-- DP Tool & Machine Shop, a Honeoye Falls company, plans to relocate their shop at the Avon Crossroads Industrial Park along Route 5 and 20. The family-run business employs about 40 and plans to increase to 50 workers. DP Tool is a general machine shop that builds specialty machinery and does short-run production work. Rochester Skid Exchange, a small family-owned wooden pallet manufacturer, is also planning on relocating to the town. The company will buy the old Industrial Ceramics building on Routes 5 and 20 east of the village of Lima. Tax breaks and easy access to major highways were cited as reasons for the relocations. (5/12)

Avon-- Metalade Inc. of Commerce Avenue in Henrietta plans to spend approximately $4 million to move its operations to the East Avon strip mall. Metalade plans to buy the 17.2 acres on which the strip mall sits and make extensive repairs and renovations to the 99,000 square-foot facility. The strip mall is located on Routes 5 and 20, just west of Route 15. (3/29)

Canandaigua-- Tenneco Packaging plans to build an 800,000 square-foot distribution center next to its manufacturing facility on North Street. The center will create approximately 150 new jobs over a two-year period - 50 warehouse-type jobs and 100 jobs at the manufacturing plant. The new facility is scheduled to be completed in mid-2000. The company is currently in the process of a $5.6 million expansion of the Brickyard Road complex, consolidating its research and development operation and creating another 150 jobs. (5/19)

Canandaigua-- Jaran Aerospace Corp. is pushing back a July deadline for its move to the Canandaigua Airport because of financial shortfalls. The Ballston Spa airplane manufacturer stated they hadn't met financial expectations from its airplane manufacturing. Jaran received a $200,000 loan from the Ontario County Industrial Development Agency as part of an incentive package to relocate here. The company expects to employ more than 500 people within the next ten years. Jason Wolnek, CEO of Jaran, endorsed an IDA plan to build a parallel taxiway next to its airport runway. The IDA has received an $801,000 federal grant the taxiway. Construction is scheduled to begin this summer. (5/5)

Gates-- Gallina Development Corp. has received final approval to build a new industrial park called Elmgrove Crossings on 140 acres of land adjacent to Eastman Kodak Co. The total "built-out" value of the industrial park is expected to be more than $30 million. Gallina plans to subdivide the 91 usable acres into 23 various sized lots that could house anywhere from five to 23 buildings, depending on the interested companies' needs. In the first phase of development, eight to ten parcels will be improved and should be ready by the end of the year. This site should support buildings ranging from 10,000 to 900,000 square feet. According to the Rochester Business Journal's top 25 list of Class A office parks, Elmgrove will be among the larger parks in the Rochester area. (3/19)

Gates-- Eastman Kodak Co. is reversing years of expansion at its 770-acre Elmgrove manufacturing site in an attempt to lower its costs. Kodak pays $32 million a year in taxes and upkeep for 5.1 million square feet of manufacturing, storage, and distribution space in 14 buildings. In an attempt to become more cost effective, Kodak plans to sell land, lease three vacant buildings, and centralize assembly of lower-selling products to allow for the demolition of two buildings. As part of an agreement between Gates and Kodak, the property is assessed at $16 million, roughly 17% of the town's total assessment of $97 million. ((5/14, 6/13)

Henrietta-- ABB Instrumentation announced plans to close part of its local operations and eliminate about 115 jobs. Employees of the company's instrumentation division will lose their jobs at the end of September. ABB's Control Product Division, a unit that develops software and employs about 250 people, will remain in the John Street manufacturing facility. Since 1991, ABB has received $1.1 million in tax abatements from the County of Monroe Industrial Development Agency. The company has volunteered to return the $1.1 million to the county, Henrietta, and the Rush-Henrietta Central School District. (5/12)

Heniretta-- ADT Security Services Inc. will construct a new $14 million, 44,000 square-foot Customer Care Center on a nine-acre site at Thruway Park. The project will crate 700 jobs and provide computer-based security service to homes and businesses throughout the northeast. ADT has operated an existing facility since 1991, which currently employs ~ 300 people. ADT anticipates the new facility will be open and operational by June 2000. ADT has annual sales of $1.4 billion and serves two million residential and commercial customers throughout North America and Europe. (4/12)

Honeoye-- Stone Construction, an employee-owned company, is seeking site plan approval for a 48,000 square-foot addition at its 85,000 square-foot building on Main Street. The proposed addition would be built behind the current building, on the north side of the property. The Ontario County Industrial Development Agency is planning tax breaks to help with the expansion. The IDA will hold title to the property where the addition is built for 10 years, and the company will lease it from the agency during that time. During the 10-year lease period, property taxes are graduated. (3/17)

Rochester-- Danka Services International signed a letter of intent to sell its outsourcing company to London-based equity investment firm Schroder Ventures. The 300 local employees will keep their jobs, as well as the firm's 3,000 staff worldwide. Terms of the agreement require the firm to vacate its 30,000 square-foot site at Kodak's Elmgrove plant. Danka expects to add approximately 30 additional employees by year's end. Schroder Ventures is one of the world's leading private equity providers, with $3.5 billion in funds under management. Danka Services International recorded more than $275 in revenues for 1998. They generated ~ 10% in earnings from operations. (3/26)

Rochester-- The University of Rochester has solicited proposals from developers to build and operate a new, efficient gas-fired electricity-generating plant that would sell inexpensive power to UR and other big institutional users. University officials have selected a proposal by ABB Power Generation Inc. of Richmond, Va., which now is conducting a feasibility study for the ~ 100 megawatt plant. Rochester Gas and Electric is aware of the UR/ABB proposal and fully supports competition and an open market. (3/19)

Victor-- Burleigh Instruments Inc., which designs and manufactures precise scientific instruments, is expanding its 20,000 square-foot building at 7647 Main Street. The expansion is expected to create 45 high-tech jobs over the next three years. The company will use funding from the state and from Ontario County's Industrial Development Agency to help pay for the 15,000 square-foot expansion. The IDA will provide abatements in the form of mortgage tax exemptions, property tax breaks, and exemptions on sales and use taxes. (5/24)

Webster-- PSC Inc. announced it will eliminate 120 of the 200 to 225 jobs as part of their reorganization plan adopted in 1997. In addition to the job cuts, PSC is tranferring eight people from Webster to Oregon and reassigning 20 others to new jobs. The consolidation will save the company $1.5 million a year, which will be reinvested partly in research and development. The company estimates first-quarter earnings at 22 to 25 cents a share, or $2.5 million to $3 million. (3/20) go to top

Avon-- Landsman Development Corp., has completed construction of Avon-On-The-Green, a living community for seniors with low to moderate incomes. The project was made possible by a combination of funding, including a loan from HUD, a Community Development Block Grant and allocations of Low-Income Housing Tax Credits from the New York State Division of Housing and Community Renewal. The two-story, 35-unit building, which was designed by Barkstrom & LaCroix, Architects, is encased in brick to complement the village's historical 19th-Century architecture. Optional services include a daily noontime meal, laundry, housekeeping and personal care. Mayzon Corp. will manage the property for Landsman. (Spring 1999)

Palmyra-- Sermar Management Corp. of East Rochester was granted approval for a planned senior apartment complex at the corner of Route 31 and Vienna Street. The proposal calls for a two-story, 24-unit building geared toward seniors with limited incomes. The apartments would all be one-bedroom with an elevator as well as a community room in the building. Sermar has submitted an application to the state Department of Housing and Community Renewal for grant money to cover up to 50% of the total construction costs. Construction would take about one year after notification of funding. (5/18)

Perinton-- The Planning Board granted final site plan approval to Bierworth-Reidman Homes, Inc. and the Wegman Co. to rezone 24 acres on Moseley Road from residential to apartment zoning. The 220-unit complex will sit on the east side of the road across from the intersection with Boxwood Lane. Units will be divided into 36 town homes with attached garages, four-unit town homes, and eight unit buildings, no higher than two stories. Rents will run from $800 to $1,500. Apartments will range from one bedroom with one bath to two bedrooms with two baths. Other amenities are cable and Internet access and a clubhouse with a full-scale exercise room, a business center and library, a lounge room and an outdoor heated pool. (4/10)

Rochester-- Mayor Johnson, with the Erie Harbor Partnership and Mark IV Construction Co. Inc., announced plans for the development of a $15 million residential and retail waterfront community along the Genesee River. Funding for the project will be provided by the city of Rochester, the New York State Canal Corporation, and private investors. The Corn Hill Landing development is scheduled to be completed by July 2002 and would include 120 luxury apartments, 12,000 square-feet of retail shops, a Harbor-master headquarters and a small office building. Tentatively, rents for the one-and two-bedroom apartments would be around $800 to $1,000 a month. Exchange Boulevard would change from a four-lane road into a two-lane street north of Plymouth Avenue. The project adds another piece to the city's downtown and neighborhood revitalization plans. (4/29)

Rochester-- The County Legislature approved allowing the Cultural Center Commission to lend $1.5 million to Mark IV Construction Co. to build a seven-story complex on East Avenue at Scio Street. The commission is a county and city agency established 20 years ago to develop the city's East End cultural district. The money would come from the $3.5 million Cultural Center Commission fund that is used to maintain the Metro Center East End Garage. The proposed multi-million-dollar luxury apartment building would be erected on what is now a parking lot in back of the parking garage. The project would include 80 apartments, rooms for temporary lodging and space for shops on the first floor. (5/13, 6/9)

Victor-- LeChase Construction and Landsman Development Corp. have begun construction on an 80-unit independent living community. Forest Park At Eastview, located just off Turk Hill Road, has partnered with Strong Health to provide residents with health and wellness services. Forest Park has a competitive edge in the area because they do not charge their residents the traditional entrance fee or require any long term lease commitments. (Spring 1999)

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Canandaigua-- Developer, Steven Satterwhite has received City Council approval for construction of a $15 million water park on West Muar Lake. Satterwhite's plan has two phases: the construction of Roseland WaterPark and a privately funded resort hotel with an indoor water park. City Officials will set up a non-profit, municipal corporation called the Canandaigua Recreation Development Corp. to oversee building and development of the park. The corporation will float $15 million in bonds to fund the water park. City council approved a taxpayer investment of as much as $400,000 to provide roads and utilities for the proposed park. Satterwhite will purchase 20 to 23 acres of land and 30 acres of the lake for $600,000. The Roseland name comes from a former city amusement park which closed in 1985. (4/29, 5/7)

Henrietta-- The American Red Cross has submitted a proposal to the Planning Board to build a $12 million laboratory that will process blood and distribute it across upstate New York and parts of Pennsylvania. The Red Cross plans to build the facility at University Park of Rochester on John Street, create 150 jobs and have a total work force of 250 by next year. The Red Cross cited easy access to Interstate 390 and the New York State Thruway as reasons for their choice of location. (3/24)

Palmyra-- The Church of Jesus Christ of Latter-day Saints has received site plan approval to build a Mormon temple on the border between Manchester, Ontario County, and Palmyra, Wayne County. The Zoning Board of Appeals approved a special use permit, necessary because the property targeted for the proposed 11,000 square-foot temple is in an agricultural zone. The special use permit requires the Church to submit a master plan detailing plans for its properties within two years of the issuing of the permit. The Palmyra Temple is the 100th temple to be built by the faith since its founding in 1830. (4/21, 5/18)

Penfield-- The Planning Board granted approval for Tennessee developer Gary Price to build (2) five-story hotels on 5.6 acres off Panorama Trail, just north of Route 441. The Hilton Garden Inn will be a 158-room, full service hotel. The other will be a five-story, 82-room, extended-stay Mainstay Suites. Both hotels will be built on the site across the highway from a Marriott Courtyard. The estimated costs for building the two hotels is $17.5 million. (4/10)

Pittsford-- St. John Fisher College has received the final approval necessary to begin building an athletic stadium with lights. College officials hope to have the new 2,100-seat stadium ready for the fall sports season. The Planning Board granted a special permit and gave final site plan approval for a $12 million campus improvement proposal that also includes new classrooms, changes to parking lots, and upgrades of existing fields. The project is the first of a three- to five-year plan designed to accommodate a growing student body and update the college's technical resources. (4/27)

Pittsford-- The Village Planning Board has approved final site plans for the Del Monte Lodge, a luxury hotel and restaurant complex on North Main Street in the village. The plans call for a "business hotel" with 101 rooms. The old railroad depot, located to the right of the hotel, will house a 124-seat restaurant and lounge that will accommodate up to 40 patrons, a small board room, a smoking room and a terrace with room for 25 people. To the left of the hotel, a gatehouse complex is being built that will include a casual restaurant overlooking the Erie Canal. The Del Monte Corp. is anticipating a September opening. (4/7)

Rochester-- The Rochester-Genesee Regional Transportation Authority plans to construct a new downtown bus station on Mortimer Street. The agency announced it would spend a $1 million federal grant it received last year for design work and an environmental review of the proposed site. The projects estimated cost is about $30 million. The federal government has authorized $25 million for the project. Groundbreaking will depend on obtaining the federal funds. The transit authority also is seeking $4 million from the state for the project. The proposed site is on Mortimer Street between Clinton Avenue and St. Paul Street. The terminal building would be constructed on property now occupied by a parking garage on the south side of the street. Officials hope to complete construction within the next two to four years. (6/4)

Chili-- Roberts Wesleyan College has adopted a master plan which includes constructing a new dormitory to house 200 students; raising the resident population to 786, building a two-story, 30,000 square-foot community services center, renovating Carpenter Hall as academic offices, conversion of the upper level of athletic center into a student union and building a new soccer field and outdoor track. All elements of the plan could cost as much as $23 million. Officials at the college do not want to go into debt and will not build unless they can raise money from supporters to pay for each project. The college has raised $1.8 million in gifts and pledges to pay for the construction on a 5,500 square-foot expansion of Garlock Dining Commons, which will increase seating capacity by 150 people to more than 600. The college anticipates a completion date of 2007 for the planned projects. (5/24)

Rochester-- Rochester-based Niteen Hotels, LLC has purchased the 155-room Rochester Airport Inn from Rochester Holdings, LP, of Houston TX for an undisclosed price. The property, located at the gateway to the Rochester International Airport, includes a restaurant, lounge, ballroom, and function rooms, and is situated on a 9.8-acre commercially zoned parcel. The new owner plans in excess of $2 million in renovations for the hotel. (5/17)

Rochester-- Planners are hoping to start construction on a Port of Rochester development project later this year. Rochester's four-year $60 million development project, of which $24 million has already been secured, is being funded by the city, the county, the state and federal government transportation departments. Approximately 60% of the $24 million is federal money. The first phase involves the $12.3 million reconstruction of Lake Avenue between Burley Road and Lake Ontario State Parkway. The plans also include closing Beach Avenue between the Genesee River and Lake Avenue and turning it into a landscaped walkway. The second phase of the project depends on the proposed fast-ferry service. Lake Ontario Fast Ferry is planning to run two 300-foot catamarans several times each day between Rochester and Toronto. Each ferry would hold 800 people and as many as 180 vehicles. Lake Ontario Fast Ferry Corp. is seeking federal assistance to finalize its $200 million proposal. A terminal for the fast ferry is included in the city's plan. The project would cost $14 million and would include the terminal building, customs facilities, parking and dredging the river. Other plans for the port include a marina for boats sailing into Rochester, a parking garage and improvements to Ontario Beach Park and River Road. (5/27, 6/1, 6/2)

Waterloo-- The Seneca Woods Residential Program, a treatment center for 224 youths with behavioral problems, will open next year at the Seneca Army Depot. The facility will be run by the nonprofit KidsPeace of Orefield, Pa. KidsPeace, which runs 25 programs nationwide, will invest $8 million to $10 million to convert 10 buildings on 185 acres. A staff of about 360 will treat youths between the ages of 10 and 18 that will live at the center. Services are expected to cost $4,000 to $5,000 per child, per month. At the southern end of the depot campus, a new $180 million maximum-security prison is expected to create about 1,000 jobs. The 750-cell prison for 1,500 inmates is scheduled to open in the summer of 2000. The Seneca Army Depot is to close officially in 2001. (5/14)

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Canandaigua-- A census of the city's business district shows there are 90 properties in the business improvement district with an average assessment of $230,000. The median value is $153,000. The average asking price for downtown property is $214,000. Parking continues to be a concern for all downtown retailers with only 600 spots available and approximately 440 employees parking downtown. (3/29)

Henrietta-- The town is planning the development of a new park by early summer. The proposal includes the purchase of 80 acres of land near the corner of Middle and Martin roads. The acquisition would cost the town $250,000, money that is available in fund balances. The town plans to relocate soccer fields that the Rush-Henrietta Soccer Club could make use of, elevating the stress off of the town and school district. (3/24)

Macedon-- Macedon will be the first town in Wayne County to take digital photos of every property in the town and keep them with assessment records. To properly analyze sales, three to five comparable properties are used. With this new software, better comparisons can be made. The town will spend $3,000 for a contractor to take the photographs. (4/14)

Pittsford-- The town closed a $2.4 million deal to buy the development rights on a 341-acre parcel, known as the Hopkins farm. The purchase means that the town has acquired all but 26 acres slated to be preserved under its unique 1996 comprehensive plan. Only the 26-acre Snyder farm remains to be bought to fulfill the town's goal of preserving 1,100 acres of farmland. The town is paying landowners about 60% of the development value of the property, or an average of about $9,000 per acre. Appraisers judged the land to be worth between $4,000 and $20,000 per acre. Buying the development rights will cost taxpayers $1,300 over 20 years or about $46 a year on a home assessed at $175,000. The town used $7.5 million in bonds and $1.95 million in state and federal grants to pay for all the purchases. (5/14)

Rochester-- The city is launching an extensive, two-year effort to review and update its aging zoning ordinance. The City Council passed a new comprehensive plan (Rochester 2010: The Renaissance Plan) and the revised zoning ordinance would be used to implement parts of the plan. City officials hope to approve a new zoning ordinance in January 2001. The review will cost the city approximately $190,000. The 2010 plan calls for a redefinition of downtown Rochester by expanding the perceived boundaries of the city outside the Inner Loop and encouraging development along the Genesee River and Erie Canal. (5/7)

Victor-- The state plans to begin reconstructing Route 96 this summer from High Street in the village to the Thruway overpass. It would add a center turning lane to the road, and two left turning lanes from Main Street Fishers. Traffic planners suggested the best way to elevate traffic problems near Route 96 and Main Street Fishers was for firms and businesses to work together to stagger the impact during rush hour. (3/31)