How is it possible that Schenectady's mayor and City Council agreed to an eight-year deal for the city's portion of the county's sales tax revenue that only raises our slice by $600,000 next year?
In fact, it's been a flat deal — again agreed to by our city leaders — since 1998. This new deal, similar to the old deal, guarantees the city's $11.7 million take will not be diminished over the next eight years, and the county promised to increase the city's haul annually by whatever percentage increase the county enjoys. Meanwhile, the county's take has more than doubled from $25 million in 1998 to $60 million in 2012.
A city financial analyst, Jason Cuthbert, was fired within days of releasing this information. It would seem that Mayor Gary McCarthy fired the analyst for being transparent regarding just how the city is treated by the county Legislature.
Meanwhile, the city goes even further down the drain as Moody's Investors Service downgrades its bond status.
I own my own home, and can tell you that property owners are fed up. I've been attending the city and county meetings and can also tell you no one except Gov. Andrew Cuomo is helping property owners.
GERALD PLANTE
Schenectady