The city of Gloversville recently passed its 2024 budget, which aims to relieve a deficit without increasing pressure on residents.
The Fulton County city passed a $21.3 million budget in November.
Expenditures are up by roughly $1.2 million but Democratic First Ward Councilwoman Marcia Weiss says she and the other common councilors are confident that the city’s revenue will help cover the deficit.
“But because of all of the development that we’re doing in the city, and I know a lot of that is going to actually come into fruition next year, I felt that the tax dollars that we pull in from those different projects is going to help. And I think in the long run we’ll be OK,” said Weiss.
Gloversville is among the municipalities to get a boost thanks to the New York state Downtown Revitalization Initiative.
The city received $10 million from the state, and Third Ward Councilwoman Elizabeth Batchelor, a Democrat, says the infusion has given a tremendous lift to the local economy.
“We didn’t get $10 million to hand out, we got $10 million where people have to match it before the state presents the money. So, these people are making an incredible effort to do their projects and then once they’re done they get the money,” explained Batchelor.
DRI projects are underway across the city, such as the development of new parks, a $4 million renovation of the Glove Theatre, and new mixed-use developments with apartments and brewpubs.
These are anticipated to add to the expected $19 million in revenue for the city.
Gloversville’s approach to combatting blight involves the city buying dilapidated properties and either demolishing the buildings, or monitoring their development.
Democratic Mayor Vincent DeSantis says the program enables developers to affordably refurbish more-downtrodden properties, revitalizing the city’s housing stock.
“The city is actually proactive in acquiring derelict houses in neighborhoods – for the purpose of improving the neighborhoods – demolishing those houses when they’re not worthy of redevelopment. And then, if they’re worthy of rehab, very carefully it goes to our Property Disposition Committee and they vet the new prospective buyers who have to apply to purchase the property. And those buyers are under covenant to bring those properties under code completely within 18 months,” explained DeSantis.
City leadership is confident the combination of DRI funded-projects and the renovation of derelict houses can overcome the budget’s $2.2 million deficit.
DeSantis says the deficit could also be covered by the city’s roughly $7 million fund balance.
“We have about, you know, 33% of a year's expenses in this rainy day fund. And so, that's why we feel fairly comfortable in doing a worst case scenario budget, that we could take $2 million out of that fund balance, because then we'd still have a $5 million fund balance,” said DeSantis.
The budget passed unanimously, although Councilor Arthur Simonds, who was defeated by fellow Republican Jessica McNamara in November’s election, was not present for the vote.
Without a raise in property taxes, the common council kept the rate at just under $20 per $1,000 of assessed value.
