Mayor Kathy Sheehan and local stakeholders united in support of two Assembly bills proposing New York State PILOT payments to the City of Albany on the Harriman State Office Campus. Mayor Sheehan, government officials and local business leaders called on the State to establish these payments as part of a long-term solution to stabilize Albany’s fiscal future.
Mayor Sheehan has repeatedly highlighted Albany’s unique financial situation as the Capital of New York State. While 80% of the city’s commercial property is tax-exempt and largely state government-owned, the city continues to receive the lowest per capita state aid payments of the largest upstate cities in New York.
Two separate Assembly bills seek to provide a solution that will bring parity to Albany via payments in lieu of taxes on the Harriman State Office Campus. Assembly bill A 4658-A, proposed by Assembly member Patricia Fahy, calls for New York State to make PILOT payments on 1.75% of value of the campus for a set period of years. Assembly Speaker Sheldon Silver’s budget bill proposes revenue based on future development on the Campus by New York State.
Observers note that while Albany is poised for a renaissance that will put it on a path to a sustainable city budget, future growth is at significant risk if the Capital City does not receive aid that takes into account the billions of dollars’ worth of non-taxable property in the city.
