BUFFALO, N.Y. (WKBW) — Buffalo's Acting Mayor Chris Scanlon shared his $110 million capital improvement plan in Buffalo Common Council Chambers Tuesday afternoon.
The plan is aimed at upgrading streets, sidewalks, and buildings across the city. The proposal requires approval from the Buffalo Common Council before it can move forward.
"What I am here today to do is not dictate anything, I am here to ask for partnership," Scanlon said to Council members.
The plan has drawn criticism from the city’s Comptroller, Barbara Miller-Williams, who raised concerns about the city's fiscal health. She warned that the proposed borrowing could push the city beyond its debt cap by $82 million.
"These projects are important, but also we know that going forward, the next budget could be problematic," said Gregg Szymanski, an investment and debt management officer with the Comptroller's office.
Council member Rasheed Wyatt also voiced concerns.
"I'm just scratching my head," he said. "What are we thinking? It doesn't make sense to me. We need to take care of the operating budget before we can do the capital budget, because we need to know what we have to work with."
Despite these concerns, Scanlon maintained that the plan would not exceed the debt cap.
He explained that parts of the capital improvement plan involve reimbursements, including $26.8 million in bonds or Bond Anticipation Notes (BANS) for various projects that state and federal funds would repay. Scanlon acknowledged that the city would eventually incur roughly $800,000-$900,000 in interest and fees related to the borrowing.
“To me, the question is, are we willing to exceed the cap by $800,000 in order to secure $200 million in infrastructure improvements across the city of Buffalo, which in turn would generate nearly a billion dollars in direct and indirect economic impact?" Scanlon said.
Scanlon also said that he spoke with the Comptroller about staggering the projects so that the city doesn't take on the fees all at once.
The Buffalo Common Council has until December 15 to approve the capital improvement plan.
"We'll continue to work with them, and we hope to have this all wrapped up by then," Scanlon said.
