Local Government

There are 11 posts filed in Local Government (this is page 1 of 2).

The Proposed Albany Soccer Stadium – The Problem of Capital Financing

In two earlier posts, I examined the proposed downtown Albany soccer stadium. In the first, I discussed its possible role in Albany’s redevelopment and the likely difficulties it would face in generating operating profits. In the second, I briefly discussed the impact of the stadium’s capital costs on profitability. In this post, I examine possible financing structures for the proposed stadium and their impact on project viability.

The Proposed Downtown Albany Soccer Stadium: Potential Risks and Benefits

Developers have proposed building a soccer stadium as part of a redevelopment of an underutilized section of Albany’s downtown, Liberty Park, near the MVP arena, often called “the parking lot district.” The proposal would include a 7,500-seat stadium, along with commercial development and up to 1,000 new housing units. Although details of the project proposal have not been made available to the public, one report indicates that the project sponsors are seeking $150 million in public support from the state, city, and county towards the $600 million project.

In this post, I take a closer look at the proposal, with its potential impacts, benefits, and risks. In it, I examine the financial viability of the proposal.

New York’s Explosion of COVID Cases and a Flawed Vaccine Roll-Out

When Covid-19 first appeared in New York in March of this year, the state, like other locations, faced a novel disease against which there were few defenses. New York faced a dire situation in March – hospitals in the New York Metropolitan area were overwhelmed.  With cases and hospitalizations skyrocketing, the State imposed a lockdown, […]

New York’s School Aid Cuts Will Disproportionately Harm Poor Districts

A recent Albany Times-Union report “recently warned officials they should expect state aid payments to be reduced by 20 percent.”  The source of the report was the Questar III Board of Cooperative Educational Services State Aid and Financial Planning.  The Times-Union article went on to report that “Freeman Klopott, a spokesman for the state budget […]

New Covid-19 Cases Decline Throughout New York

The number of new reported cases of Coronavirus in New York State has begun to decline.  The chart below, which shows the three-day moving average of new cases, indicates that after plateauing from April 3rd to April 10th, a decline began, with cases decreasing from a peak of more than 10,000 to less than 5,000 […]

Will New York Reopen for Business by May 1st?

Recent reports show that President Trump would like to reopen the national economy within a few weeks.  The Washington Post reported that “President Trump — concerned with the sagging economy — has sought a strategy for resuming business activity by May 1.”   More recently, the President said that he expected some states to reopen before […]

New York’s Local Revenue Sharing Aid Program is Broken:  How to Fix It

Most New Yorkers are aware that the state has a cap on local property taxes that has effectively slowed their growth.  But few know that residents of a few large cities benefit from a multi-million-dollar infusion of state dollars that limits property taxes, while residents of smaller cities, towns and villages get far less help.  […]

Times Union Op-Ed: State’s Unfair City Aid Formula Needs Revising

I’ve been looking at how well the State’s local revenue sharing works.  It doesn’t work well.  I wrote an Op-Ed that appears in the Albany Times-Union this weekend:  It may be found here:  https://www.timesunion.com/opinion/article/State-s-unfair-city-aid-formula-needs-revising-13709884.php I’ll have a longer piece that takes a closer look at this on my blog next week.