September 3, 2008, Schenectady, N.Y., — The City of Schenectady Industrial Development Agency (IDA) today completed the sale of Lot 6 on Technology Drive in Schenectady to KRC Group, LLC an affiliate of Liedkie Moving and Storage. The purchase price was $50,935.

Liedkie Moving and Storage, Inc. has been in business since 1917. The company is a major moving and storage firm in Upstate New York. The company plans to build a 12,000 square foot facility at the site. The new facility in the City of Schenectady will be in addition to Liedkie’s existing facility on Curry Road in the Town of Rotterdam.

Metroplex administers the City IDA as part of Schenectady County’s unified economic development program.

The City IDA completed an environmental clean–up of Lot 6 prior to selling the property. The previous administrator of the City IDA dumped contaminated soil on Lot 6 when the IDA was run by the Schenectady Economic Development Corporation. The City IDA paid $9,000 to clean up this error.

Metroplex Chair Ray Gillen said, “We are very pleased that the clean-up is complete and that Lot 6 will be used by a great family owned company like Liedkie Moving and Storage. This is another mess from the past administration of the IDA that has now been cleaned up.”

In the past four years, the City IDA has repaid over $300,000 to the City borrowed by the previous IDA Administrator but never repaid. In addition, 5 buildings and three sites owned by the IDA have been sold and returned to the tax rolls.

“We continue to reform very poor practices of the past. The City IDA is now focused on what it should have been doing all along – creating jobs and tax base, not collecting properties, taking them off the tax rolls and mismanaging them,” Gillen said.