Critical School Construction Funds Need City Council Approval by Year’s End
Yonkers, NY -- Mayor Amicone is asking the City Council to temporarily set aside a disagreement with the Board of Education in order to save taxpayers millions of dollars on critical school construction initiatives.
At stake are $13.8 million worth of interest free federal bonds intended for school construction and rehabilitation that the City Council must approve by a December 22 deadline. Losing out on those interest free bonds would cost Yonkers taxpayers an extra $3 million dollars over ten years, according to the city's finance commissioner.
The problem is several councilmembers have stated their intent not to approve these funds until the Board of Education allows the city's Inspector General's Office to conduct an audit of the school district's healthcare and benefits accounts, a matter that is presently being litigated in NYS Supreme Court.
"I have repeatedly expressed my support for the City Council's position that the Inspector General has the authority to audit the city's school district. The Inspector General's Office serves as a watchdog for city taxpayers and should have the ability to audit the school district," Amicone said on Monday.
"But that issue has nothing to do with whether or not we provide our students with adequate classrooms and facilities in which to learn. The inspector general issue is already before the courts and will be decided in due course. In the meantime, we cannot follow one bad decision with another one," the mayor explained.
A November 18 memo from the city's bond counsel, Hawkins Delafield & Wood LLP, states that the latest date the City Council can act to approve the interest free bonds is December 22, which would allow enough time for processing before the end-of-year federal deadline.
The memo was sent to the city's finance commissioner and copied to the city council president. Copies will be made available upon request.
"This funding has already been earmarked to make improvements to our school buildings and classrooms, which everyone agrees are in desperate need of repair. But it's become a political football between the Board of Education and the City Council, and now time is running out. I'm asking the City Council to issue the necessary approvals for these bonds as soon as possible," the mayor concluded.
Source: Press release
