Hefty salaries for college execs

January 6, 2012 Updated Jan 6, 2012 at 8:11 AM EDT

By WKBW News

January 6, 2012 Updated Jan 6, 2012 at 8:11 AM EDT

Some college executives are earning hefty salaries, according to a new Business First study. Business First researchers reviewed IRS 990 forms for college executives. The study shows the president of Alfred University received $707,000 in fiscal year 2009, up 64 percent from the year before. It was due to a deferred compensation he was required to take by the IRS. He's the highest paid chief executive among local colleges. The president of UB is slated to receive compensation totaling $650,000. While at some private schools, pay packages are turned over to religious orders. The complete list is in today's Business First.

Sinatra & Company real estate is buying three area sites for $5 million. The projects include: a series of buildings on Delaware Ave. in Kenmore, the Elmwood Village Apartments, Sinatra's first Elmwood Village property, and the former Fenton Hotel on West Ferry Street, which was built for the Pan Am Expo. Business First says Sinatra was interested in the former Fenton Hotel thanks to the Buffalo Niagara Medical Campus. The developer plans to renovate the building for 29 market-rate apartments geared to people working at the medical campus..

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