The City of Troy, New York, "Where Henry Hudson Turned Around."

Monday, February 08, 2016

BONDING GONE WILD

It will come as no surprise to anyone that one of the culprit's of Troy's current fiscal problems was the serial bonding done in the 1990's.

From 1994-1995 the City Council bonded for $23,716,000.

From 2002-2007, it was $11, 278,608.

That is roughly $34,000,000 in serial bonding under a Republican controlled City Council.

Democrat controlled Councils are not free and clear either.

1996-2001 - $4,390,000

2008 - 2011 $3,700,000.

That is over $40,000,000 in bonding. Obviously, once the mayoral form of government was restored, things calmed down a bit. A buffer no longer existed between the voter and the city's chief executive. Before that, the Family had a lot of buffers. The bulk of the borrowing occurred from 1994-1995. We are fortunate that no one is left from those moribund days of debilitating debt. Well, one person remains, rising from the ashes of the disastrous 1990's like the phoenix of old.

We blame ourselves for not delving into the current Council President's past voting history. We were willing to giver her a pass and, indeed, pulled a lot of punches during the campaign. Mantello worked very hard and earned her victory. After pledging to move beyond partisan politics, she has systematically played partisan politics. Specifically, taking shots at the malfeasance of the previous administration and staking out a position of being the Lord Protector of the taxpayer. Yet, she never tells us the entire story. Yes, Rosamilia was a hot mess on many levels, but things didn't begin under Rosamilia. The problems go much deeper and when Mantello slips in digs at the previous administration, her memory seems selective.

Lets take a look at what Ms. Mantello actually supported while a member of the GOP Council majority in the 1990's.

Ms. Mantello voted to table resolutions to reduce the City Manager's salary to $55,000. She voted to table a resolution that would reduced department head salaries by 10%. In addition:

1995 - raise taxes - Aye*

Issue $4,225,000 in serial bonds - Aye

Issue $14,375,000 in serial bonds - Aye

Eliminate 5 DPW positions - Nay

Offer TPD and TFD severance and retirement incentive plan - Aye

Issue $7,226,000 in serial bonds - Aye

Increase plumber license from $50.00 to $100.00 - Aye

Issue serial bonds $3,000,000 and $2,000,000 - Aye

While heading up the Canal Corp. Mantello also fought to establish that entity as an independent agency, no longer shackled to the Thruway Authority. That's correct, a Republican advocating for yet another State agency and larger government.

These are just a few of Ms. Mantello's votes during that crucial legislative season. Why people are deluded into thinking that the Council President has any credentials to be a fiscal watchdog is beyond us. Chew on that, tiger. How does it taste?

Of course, its always possible that Council President Mantello's drive to hold public office is, in part, to seek absolution for her role in Troy's fiscal demise.

* Should be said in a thick, Scottish brogue for full effect



 

42 comments:

Anonymous said...

No fair discussing Mantello's record. Tango Down!

Anonymous said...

Yes, Carmella did it when she was city manager, oops I mean when she was council president, oops I mean when she was mayor. Talk about being desperate. Just say we hate republicans and will blame them all for their mistakes and more importantly OUR mistakes. OK?

Anonymous said...

Can't attack the message, attack the messenger. That's the record.

Anonymous said...

Funny. The press should ask her about those bonding votes the next time she blames the previous administration for Troy's fiscal woes. And don't forget the biggest laugh of them all: she put Steve Dworsky on her silly "transition team". That pretty much says it all.

Anonymous said...

State Comptroller's report due out today. Let's go back 20 years and try to deflective some blame. One other question, how is it that Peter Ryan gets a state job for 95K and Bill Dunne can't get one? I think that's a fair question.

Anonymous said...

Thanks for the history lesson. One important point is omitted though.
The financial mess of the 90s is solely attributable to one person, former City Manager Steve Dworsky, who is now Mantello's chosen chief adviser.
Brace up Dixie for more of the same if she is given free rein to impose Dworsky"s policies of blank checks for police and fire and free wheeling spending in other areas. `
Dworsky embarrassed Troy through his budget gimmicks (i.e. overestimating revenues and underestimating expenditures)eventually requiring the extreme step of financial oversight by a control board. That's as bad as it gets in local government ! Now he's coaching Mantello who thinks she is Troy's co-mayor. This dismal forecast makes me even happier I moved out of Troy.

Phana24JG said...

Blasting Carmella for voting for bonding in the mid 90s is akin to ripping Mark Pattison for tax increases. Have your forgotten why it was necessary? His initials are SD. However, your point about assessing blame beyond the previous administration is well-taken.

Bonding itself is not bad, provided it for capital equipment and/or projects that are either vital to city operation or will lead to expansion or growth. It is when you begin bonding for operating expenses and routine maintenance that indicates irresponsibility.

The issue of the Canal Corp is an entity unto itself. Why in God's name was it ever merged with the Thruway Authority in the first place? While both technically transportation, the fact is that commercial cargo on the canals is history. Even if the PCBs were removed from the Champlain Canal, aside from the occasional fuel oil barge, the traffic is unlikely to even pay for the dredging required. The Canal Corp has become an expensive toy that exists primarily for boaters. While there has been some success in creating some landmarks and destinations, the ROI is poor and traffic continues to decline. The TA should be focused on paying for the new TappanZee, not playtime for boaters.

Anonymous said...

8:01, that's all they do. Ignore all the facts in the story and attack the person who dare call them out for their hypocrisy. They do that to anyone who calls them out, they attack in order to deflect. An old, reliable Rennsalaer County GOP trick. The mudslides!

Anonymous said...

Tango up. Still here...good man

Vito said...

A these idiots!!!!

Robert Cox said...

vital to city operation or will lead to expansion or growth. What Growth can you provide Please !~~!

Anonymous said...

Carmella and Dworsky sitting in the tree B-O-N-D-I-N-G

Anonymous said...

Carmella and dworsky sitting in the tree, B-O-N-D-I-N-G

Anonymous said...

Growth like you getting the fuck out of Troy. Look out that cop with Vito behind you.

Anonymous said...

She is NOT good for Troy.

Robert Cox said...

Cop on the left Vito on the rite and Harry in the Middle jerking them off as the pivot man !~~!

Anonymous said...

Bonding is necessary unfortunately to replace out dated equipment and vehicles to run the city.

Anonymous said...

Just imagine what position Robert Cox would have had in a Rodney administration. Sweet Jesus!

Anonymous said...

He left troy. He lost. 520 closed. Vito wins

Anonymous said...

Gotta be an employee

Phana24JG said...

Bob, when I referred to spending that can increase growth and revenue, I was referring to road improvements, "smart signals," access roads, etc. Other like projects would be upgrades to waste treatment or water plants that improved capacity and/or reduced costs per gallon.

In our present state of fiscal disarray, I suppose major maintenance projects for the above that bought us time until we lose the MAC debt might qualify. My point was simply skewering someone for "bonding in general" is only providing one side of the equation.

Anonymous said...

Perhaps the finger pointing of partisan blame should stop and the idea of creative thinking should start. Yes, bonding certainly added to the fiscal crisis but what is being done to address the equivalent of accounts receivable? Outstanding parking and traffic tickets, back city property taxes, delinquent water bills, etc. It would be interesting to ask how much is outstanding from any/all sources and is owed to the city. Once a number is arrived at, then create an action plan to collect it.

Anonymous said...

7:39 that's a great post, with good ideas. You should comment more

Anonymous said...

7:39, All you said is a good idea. Get people to pay up what they owe. Too many free rides in the city. Problem with this is that there are a good number of people somehow "connected" that are behind in their bills. They play the game of not paying until the last minute. It is probably one of the biggest money making "scams" in town. You buy a cheap building with cash, house public assistance and or section 8 people, sit back and collect the rents. Many of these landlords hide behind management companies so you don't know that they are actually cops, firemen, business people, lawyers, etc. Their tenants use all our public services, such as schools, garbage, water, public assistance, etc. These are very often the homes of criminals and drug dealers among other problems. How ironic that one of Troys biggest "industries" is housing some of our biggest problems. It is going to be tough to break that cycle.

Robert Cox said...

Four Years Later Lou's Code NAZIS hav only collected 15% of the Code Violations Written Every thing they try fails every scheme these Jack Leg Malthusians think up blows up in there face. Also Talk About Double Dipping Look at Harry's New park down by Dinosaurs BBQ with ample parking lots paid for by the Tax Payers. Now These Screwballs Put Parking By Permits Only Signs Down There is any one really paying attention !~~!

Anonymous said...

9:27 thank god you weren't on that bus in Albany. How about one specific property? Please give the address of just 1. Incidentally people that pay late pay a premium for being late. Interest and penalties.

Anonymous said...

Thank God you're around to point out all that is wrong Bobby. You forgot to mention junkers who put cars with no plates on city streets

Anonymous said...

Who invited that publicity whore to the ribbon cutting of the salon/gallery?

Anonymous said...

There will be no specific addresses divulged. For you to make a comment about a bus ride in Albany makes no sense what so ever and has nothing to do with the subject.

Sheeran said...

You left...get over it..i run codes

Anonymous said...

Please don't tell Bobby to go. He is the voice of the democratic party, Rodney's right hand man and no bleach or even acid can wash him off. He's the gift that keeps on giving.

Anonymous said...

If he comes back cops are waiting

Anonymous said...

Classic Mark McGrath on the radio today. Piss and moan about him all you want he is unbeatable. Tells it like it is.

Anonymous said...

Cowboy cash carlo runs code

Anonymous said...

Vito wins?? There's something hardly ever heard

Anonymous said...

Robert, SHUT THE FUCK UP! You left town with your tail between your legs, you have NOTHING at steak anymore, your family wants nothing to do with you and we STILL have to listen to these psychotic rants of yours? Give it a fucking rest

Anonymous said...

Unbeatable against Anastasia, if we can get a Democrat with half a brain to run against him he will get destroyed! We may need him to be sign sheriff again next election season. After he washes Queen Tuts car and drops off Queen Tuts laundry and gives boxing lessons to his tough guy son

Anonymous said...

Classic case of bitching about the problem and offering no viable ways to fix it. Yawn.

Anonymous said...

loser

Anonymous said...

He'll be back to help Rodney Rabbit and Fredo McGrath take over the Democratic party.

Phana24JG said...

I dunno 8.40, Robert Cox as Mayoral Spokesman would probably put Troy in the state and national news on a regular basis. The publicity would be priceless.

Anonymous said...

You Troy guys are AMATEURS. We in Albany REALLY know how to steal an election.