WinnCompanies Proposal for a Downtown Center City Campus at Sibley:Saving Taxpayer Money, Meeting MCC’s Needs & Reviving Downtown
Benefits to TaxpayersCost to Build –
The renovated and expanded campus at Sibley without tax credits would cost$57 million. This represents a savings of $18 million for the taxpayers of MonroeCounty (more than $9 million) and SUNY ($9 million) as compared with the proposed$75 million Kodak site. These cost savings stem from the revised plan for renovation, asopposed to demolition and rebuild, of certain aspects of the existing campus, coupledwith significant expansion and newly built amenities, including a cafeteria, auditoriumspaces, and large gathering spaces for students to meet and socialize.
– Any cost overruns at the Sibley site would be borne by WinnDevelopment, a40-year-old, well-capitalized, nationally renowned historic renovation company. Anycost overruns at the Kodak site will be borne by Monroe County taxpayers. DiMarcoConstructors have priced out the Winn plan in detail based on extensive site visits anddesign review.
Cost to Operate –
MCC would only have to own the 275,539 square feet that thecollege has called for in its own specifications. Taxpayers would not be asked to financethe operation of the approximately 300,000 square feet of unneeded vacant space thatwould remain at the 561,951-square-foot Kodak site.
- In the 1 million square foot Sibley Building, there is plenty of expansion spaceavailable for future growth by MCC (100,000 square feet or more), as well as leasablespace to local business and community partners of the college. Any unused portion of the Kodak site will burden Monroe County with ongoing insurance, repair, security andheating costs. Potential expansion space at Sibley carries no upfront cost for taxpayers.
Ease of Acquisition
– Unlike the Kodak site, Monroe County taxpayers will not need to pay forlengthy due diligence, bankruptcy attorneys, or pre-development at the Sibley Building.WinnDevelopment already has completed due diligence, so there will be no surprises. Inaddition, since WinnDevelopment holds the current four-and-a-half-year lease,development of a new campus could begin as soon as MCC wishes.
Benefits to the CollegeOwnership
– No tax credits are used in our plan, allowing MCC to own the campus space itwants immediately. This is a major change in our Sibley proposal, which the CollegeBoard and County may not have been aware of until now.
The MCC campus would bea legally separated condominium, with separate utilities, entrances and elevators.