ALBANY, N.Y. (NEWS10) — Albany Mayor Dorcey Applyrs was joined by state lawmakers as she announced the city will be receiving an additional $60 million in state funding spread over the next three years. The aid comes at a time when the city has been working on eliminating a budget gap of $19.6 million.
“Not only is our city receiving a historic investment of $20 million in new state aid to help stabilize the city’s finances, but the state has committed to providing this additional funding for the next three years for a total of $60 million,” said Applyrs. “If I could, I would do some backflips in front of city hall for this.”
Get the latest news, weather, sports and entertainment delivered right to your inbox!
The $20 million this year will be used to address the budget deficit that Applyrs says she inherited from the previous administration. Senator Patricia Fahy said the state is keeping track of how the money will be spent by requiring a report to be filed by the end of the calendar year. The report is required by all cities outside of New York City that received aid in this year’s budget.
“We’re giving them that chance now, we’re going to add that transparency, add those financial reports,” said Fahy. “I think it’s been a real wake up call for everyone. And we’re going to continue to have tough conversations, but with that, we know there’s a commitment.”
Download our WTEN+ streaming app on Roku, Fire TV and Apple TV!
With the additional aid coming in from the state, Albany Common Council Member Meghan Keegan is still committed to finding where the deficit came from, especially the revenues that were projected and never came in. Keegan is the chair of the Finance, Assessment and Taxation Committee, and she says the state funding provides stability while the city assesses how to close the budget deficit…