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Democrat and Chronicle from Rochester, New York • Page 15

Location:
Rochester, New York
Issue Date:
Page:
15
Extracted Article Text (OCR)

I ROCHESTER DEMOCRAT AND CHRONICLE Tuesday, November 12, 1974 5B RENT HIKES projects manage to pay off their higher interest mortgages and their taxes? "If private enterprise built this oroiect which is a beauti From IB Private developers were taking out construction loans at about 9 per cent interest for a term' of just 20 to 22 years in 1973, when Goler got its mortgage, said Gerald McCartney, director of the Genesee Regional Apartment Council, Inc. But Goler has managed to pile up a half-million dollar debt in just over two years. Unless rents are raised, that debt will climb by $110,000 to $146,000 a year for the next five years, according to university figures. And that increase assumes a 98 per cent occupancy rate. Goler's debt has grown because the university underestimated the amount of interest it would have to pay on the mortgage and because of inflationary rises in expenses, Brockmyre said.

Brockmyre said the university figured it would pay just over 4 per cent interest on the mortgage for the $7.9 million project when the project was started in late 1968. But the interest rates on the state subsidized mortgage have risen. The cost of mortgage payments is the major expense for Goler, according to university figures. In 1974, mortgage payments will cost $483,000. All other operating expenses will cost $288,00.

How do private apartment US A AX wimL mMim Marie Heindl dies; candy store co-owner ful, quality project, they'd have to charge higher rents." Brockmyre said. "You're comparing apples and oranges," said Wol-f anger, the university's assistant treasurer. "I can't comment on how private enterprise operates." Goler House is a clean, attractive building both inside and out. Located just steps from Strong Memorial Hospital, its a convenient place to live for medical center students and employes. Three nurses interviewed in one of the apartments last night said they liked living at Goler, but would move if rents were raised.

"They (the university) are trying to make this into a high price complex," said Linda Shapiro, 22, who has lived at Goler one month. Food supply problem aired VARICK Problems of worldwide food supplies will be discussed by a Cornell University professor at 7 p.m. Monday marking the annual dinner meeting of the Seneca County Cooperative Extension Association. the store since she finished St. Bridget's School.

She was a member of the American Association of Retired Persons, the Ladies Catholic Benevolent Association of St. Michael's Church and a Parsells Avenue senior citizens group. NOTICE TO BIDDERS UPGRADING OF ELECTRICAL SERVICE, VENTILATION AND LIGHTING AT DPW GARAGE, BUILDING 5, DEWEY AVE. ANO FELIX ST. FOR DPW ENGINEERING.

IIO.M SPEC. DEP. CHG. REOUIREO Scaled Proposals will be received by ttte County of Monroe on behalf of the City of Rochester for the above listed items or services. Proposals will be received until 11 :00 A.M., EST, November 27, 1974, at the Office of the Monroe County Purchasing Agent, Room 409, County Office Building, 39 West Main Street, Rochester.

New York, at which time they will be publicly opened and read. Specifications and bid forms are available at the Office of the Purchasing Agent. Bids must be accompanied by the required bid security to insure execution of contract if awarded. The County reserves the right tor the Purchasing Agent to reject any or all bids. ROBERT E.

SHELDON, Purchasing Agent, County of Monroe. UU-Nov. 12 I 12-2t-DfcC IRRADIATORS MPAIRIN All Work 100 Gwirontiid and Reasonobly PICK-UP and DELIVERY! HENRIETTA RADIATOR 7 IOLDING DRIVE 4737518 CAN Of UMT 4 CAMS 1000 799 9.95 7.99 2100 13 99 24.50 7.99 Marie Heindl, a retired co-owner of Heindl's Variety Store which was known for its selection of penny candy, died yesterday at St. Ann's Home. She was 77.

Miss Heindl, a Rochester native, began working behind the counter at her father's store when she was 12. The store was then located near Bausch Lomb, but was moved in 1915 to the corner of Parsells Avenue and Greeley Street. In 1929, Marie and her sister Margaret assumed ownership of the little store. The two sisters were known to neighborhood children as "the because the initials of their first names were the same Margaret said. The two lived together at 57 Rialto St.

The sisters didn't try to update the store's appearance, and carried about 80 varieties of loose penny candy. People came from all over Rochester and Monroe County to buy candy there, Margaret said. "It was just a curiosity," Margaret said of the tiny store. Photographers often stopped to take pictures of the crammed interior, and when thCSisters closed it down last year, several long-time customers bought candy jars and containers as remembrances. The sisters retired in November last year because Marie became too ill to work, Margaret said.

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Pages Available:
2,656,601
Years Available:
1871-2024