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Legislature requests County Executive capitalize on $250,000 in savings


OFFICE HIGHLIGHTS

Erie County Legislature Majority Leader Joseph Lorigo has submitted a law that protects Erie County Cold War veterans’ property tax exemption.


As I sit here enjoying the unseasonably warm fall we’re having, I can’t help but reflect on the last year.  Since the 2016 presidential campaign, it feels like the people in this country have...

On October 11, Majority Leader Joseph Lorigo, Chairman of the Legislature's Finance and Management Committee, joined Henry Wojtaszek, President/CEO of Batavia Downs Gaming, Thurman Thomas, Hall of Fame former...

Crews are replacing a cross culvert on Eastwood Road in the Town of Marilla. The road is closed between Williston Road and East Blood Road, expected to reopen on Oct. 27, 2017, or when work is complete. Detour is...

Leydecker Road (CR 364), in the Town of West Seneca, will be restricted from Seneca Street to East and West Road, starting on Monday, October 9 to allow for bridge deck repairs.  Restriction is expected...

The Erie County Legislature has unanimously approved a resolution requesting that the County Executive issue a Declaration of Need for the upcoming RAN borrowing.  This will allow the county to capitalize on significant savings for the taxpayers. Historically, the Erie County Fiscal Stability Authority (ECFSA) has proven to be the fiscally responsible option. Due to its superior bond rating, the ECFSA would be able to borrow at a lower rate than the County Comptroller’s Office.

 

“The entire Legislature believes that Erie County’s approach to borrowing should be simple: respect taxpayer dollars when borrowing, and use the least costly option possible. Statements from both the Comptroller and the ECFSA indicate that the ECFSA could save approximately $250,000 if it were to conduct this round of borrowing. I believe the choice is clear. The outcome will not change regardless; funds are still borrowed to operate county government, and the only difference is choosing which option is less costly to taxpayers,” said Majority Leader Joseph Lorigo.

 

Majority Leader Lorigo reminds the County Executive that when he served in the role of Comptroller during the 2011 borrowing process, Mr. Poloncarz stated in a letter to the Legislature, “I reiterate that my goal is to ensure County taxpayers get the best deal possible regardless of whether the County of the ECFSA issues this year’s RAN.”

 

“I hope that the County Executive will heed his own request and support the option that incurs less cost. All the information provided to the Legislature indicates that once again, as has been the case for several years, the ECFSA will be the better option. If proven to be true, I would hope that the County Executive values taxpayer dollars as much as I do, and conducts the borrowing through the most cost effective method,” said Majority Leader Lorigo.