Category Archives: Budget & Finance

City Finances in Good Shape

Following an upgrade earlier this year, Moody’s Investors Services has confirmed New Rochelle’s Aa2 bond rating.  According to Moody’s, the sustained rating “reflects the City’s multi-year trend of operational surpluses and healthy financial position, along with maintenance of a stable tax base and moderate pension costs and debt burden.” It’s good news for taxpayers, who … Continue reading City Finances in Good Shape

Right on the Merits, Tough on the Politics

Sometimes doing the right thing means taking a political risk.  Case in point: this week, the New Rochelle Industrial Development Agency (IDA) approved a request from the owners of 255 Huguenot Street for a payment in lieu of taxes (PILOT) that will start in 2029 and run for 11 years. If you don’t recognize that … Continue reading Right on the Merits, Tough on the Politics

Keeping Track of Infrastructure Investments

Last December, the New Rochelle City Council approved a ten-year $150 million investment in capital and infrastructure priorities, the largest in our history. Now you can keep track of our progress on this web-page, which lists the status of individual projects.  As you will see, many initiatives are still in design, but physical improvements will … Continue reading Keeping Track of Infrastructure Investments

New Ro in Strong Financial Shape

New Rochelle’s just-released independent financial audit shows the City in the strongest fiscal condition since the Great Recession.  During 2016, our revenues exceeded projections by about $3m, while our expenses came in under budget by about $6.5m.  We ended the year with an unassigned fund balance (essentially our savings account and rainy day fund) of … Continue reading New Ro in Strong Financial Shape

City and School District Share Services to Save Money

Our City government and School District may be independent entities, but we serve the same community and the same taxpayers, so we should seize every opportunity to work together, reduce duplication, and save money. That’s the idea behind a new shared services agreement through which the City has assumed refuse and recycling pickup responsibilities at … Continue reading City and School District Share Services to Save Money

U.S. Conference of Mayors Backs CDBG Program

As I’ve previously noted here and here, the Community Development Block Grant (“CDBG”) program is a vital lifeline for cities all across America that provides for essential investments in human services, infrastructure, and economic growth. The Trump budget proposes significant cuts to CDBG (along with cuts to many other important investments), so I had no … Continue reading U.S. Conference of Mayors Backs CDBG Program

Big Grant Paves Way for Quaker Ridge Road Upgrade

Among New Rochelle residents, especially residents of the North End, Quaker Ridge Road is well-known as a highway to no where.  Its absurdly excessive traffic capacity practically compels drivers to speed, while its measly and poorly engineered sidewalks give short shrift to pedestrians.  And cyclists?  Don’t even ask.  About the only time Quaker Ridge Road … Continue reading Big Grant Paves Way for Quaker Ridge Road Upgrade

Save CDBG

Thank you, Kirsten Gillibrand, for organizing a coalition of 41 U.S. Senators in strong support of the Community Development Block Grant (CDBG) program. As the Senators’ letter indicates, CDBG has been an essential lifeline for cities throughout America, including many in New York State.  New Rochelle receives about $1.5 million annually, which we utilize to … Continue reading Save CDBG

Trump Budget = Disaster for New Rochelle

The budget just released by the Trump Administration reads like a detailed blueprint for wrecking the country – with choices that seem almost intentionally aimed at shortening lifespans, impeding science and innovation, slowing the economy, stifling creativity, increasing the risk of war,  harming the vulnerable, and imperiling the welfare of future generations. How else can … Continue reading Trump Budget = Disaster for New Rochelle

State of the City Video

If you missed the 2017 State of the City Address, you can now watch it online by clicking on the embedded video below: Or copy this address into your browser:  http://newrochelle.granicus.com/MediaPlayer.php?view_id=2&clip_id=1000 And here’s my prior post with the text of the speech.