"It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage, than the creation of a new system. For the initiator has the enmity of all who would profit by the preservation of the old institutions and merely lukewarm defenders in those who would gain by the new ones." Machiavelli
Desperation in AlbanyBy DIA, Section News
After 15 years of Mayor Jennings as your CEO, we are treated to this.
City Comptroller Thomas Nitido was more blunt: "The city was confronting some very significant financial problems before the loss of this money -- what was a pretty sad situation is becoming a desperate one"Desperation in Albany. Brought to you by the irresponsible economic policies of Jerry Jennings (maybe if he hadn't endorsed all those Republicans we would've gotten this aid from a democratic governor. So it goes.) I spent the last four years trying to warn people. It was clear as day if you knew what you were doing. Less than a year ago Mayor Jennings told us he gave the people of Albany a "responsible budget". He was wrong. Again. In other news Schenectady didn't get any aid either. But since they have a competent mayor and a balanced budget, they are doing just fine. Note to Albanians: Get yourself a competent mayor. And save up for those taxes. Update [2008-8-7 5:57:16 by DIA]: I forgot to mention that the mayor gave himself another raise this past year. Apparently those raises aren't based on job performance. Update [2008-8-7 6:50:20 by DIA]: Here are the numbers, from an email that Richard Conti sent out to his people. The City's multi-year financial plan, as submitted to the NYS Division of the Budget on February 6, 2008, projects an operating deficit of approximately $14.9 million for 2009 and $20.4 million in 2010. To put it another way, if these deficits were to be funded by property tax revenue it would require a 30% increase in the property tax levy for 2009 and an additional 32% property tax levy increase in 2010. That's an unacceptable option and certainly not a burden that Albany property tax payers can sustain.I would like to point out that the existing PILOT payments decrease by $8 million in 2011. So, that number for 2011 looks to be about $28 million in the red. If I'm reading Conti's email correctly that is back to back 30% tax increases and that doesn't include our 2011 problem. If you do the math that means your tax bill would be increasing.....oh, shit....anyone want to buy a house? Update [2008-8-7 7:39:24 by DIA]: I guess we can assume that we won't be wasting money on a money losing convention center. At least one long term benefit of Jennings' incompetence is we won't have to be saddled with that money losing project for the next 20 years.
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