Buffalo, N.Y. (WBEN) – In what is becoming a familiar scenario, efforts by Buffalo leaders to borrow – or sell bonds – to help finance capital projects has once again pitted City Comptroller Barbara Miller-Williams against the Common Council and the Mayor’s Office.
In the latest potential financial standoff, Mayor Sean Ryan is asking the Common Council to allow the Buffalo Fiscal Stability Authority – aka the “control board” to sell $20.06 million in bonds that will help trigger emergency repairs at more than 15 city-owned buildings.
By going through the BFSA, it would fast track securing the funds and at lower interest rates than if the city went to the bond market by itself…