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Standard & Poor’s Upgrades Outlook of Clarkstown’s Finances to “Stable” As Town’s “AA” Bond Rating Is Reaffirmed Once Again

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NEW CITY, NY – Clarkstown Supervisor George Hoehmann announced that the ratings agency Standard & Poor’s (“S&P”) reaffirmed the Town’s “AA” bond rating while upgrading the Town’s financial outlook from negative to stable.

In positively revising its outlook, S&P cited Clarkstown’s “track record of consistent, fact-based budgeting, which has translated to an improvement in overall financial performance” as well as the Town’s “growing commercial and residential development”, which they view as the foundation of Clarkstown’s “very strong “economy. S&P noted and emphasized “the positive operating trends over the past two years,” “ongoing expenditure control on a line-item basis combined with prior reforms that generated ongoing expenditure savings” and “a strong recovery in economically sensitive revenues, including sales and mortgage taxes” that “underpin the improvement in its financial position, despite the negative effects of the COVID-19 pandemic.”

S&P’s review of Clarkstown’s finances comes in advance of the Town’s issuance of $12 million in General Obligation public improvement serial bonds and the refunding of $7.9 million in bonds, the proceeds of which will produce budgetary savings for the Town’s taxpayers.

“Standard & Poor’s optimistic outlook of the Town’s finances and economic conditions is great news for Clarkstown taxpayers.  After many years of consistent deficit spending, we were able to right the ship with structural reforms that produced three years in a row of surplus, a feat that hasn’t been achieved in decades,” said Supervisor George Hoehmann, adding:

“This strong bond rating enables the Town to secure low interest rates to finance infrastructure projects that enhance the quality of life for Clarkstown residents and businesses.”

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Statement: Congressman Lawler – George Santos Should Resign

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PEARL RIVER, NY – Rockland’s Congressman Mike Lawler (NY-17) has released the following statement regarding controversial newly elected Congressman George Santos:

“It is clear that George Santos has lost the confidence and support of his party, his constituents, and his colleagues. With the extent and severity of the allegations against him, his inability to take full responsibility for his conduct, and the numerous investigations underway, I believe he is unable to fulfill his duties and should resign.”

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Statement from County Executive Ed Day

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Since Fall of 2021, I’ve adamantly spoken out against state legislation to create Accessory Dwelling Units (ADUs), as New York is a home rule state. Yesterday the Governor proposed expanding a property tax exemption that would allegedly reward homeowners who “build-out” ADUs, essentially incentivizing the development of these types of units. While there is no legislation currently in place requiring municipalities to allow ADUs, I fully believe that widespread construction of ADUs in suburban areas like Rockland County would be harmful to our community.

Last February, when Gov. Kathy Hochul pulled the bill from her 2023 executive budget, I was quoted saying:

“…the removal of this legislation from the Governor’s proposed State Budget seemingly is not the end but a re-start, one that I am convinced the Governor will throw her weight behind AFTER Election Day IF she is re-elected. Keep that in mind when you vote on November 8th.

The proposed ADU bills are still active and in committees in the Senate and Assembly. We will continue to oppose any attempt for this legislation to be revived.

While creating affordable housing is an admirable goal, our own Planning Department stated in their professional assessment the one-size-fits-all approach of the ADU legislation is extremely problematic and does not account for differences between rural, suburban, and urban communities and I’m concerned there is a strong likelihood that the character of our County could be changed forever.

I am concerned as well about some of the mandates included in the Governor’s new NY Housing Compact that will require municipalities to change zoning in specific areas of their communities and meet mandatory home growth targets. As your County Executive, and past president of a local civic association, I believe this concept to be contradicted by the Constitution of New York State and will continue to stand firmly in opposition to any politically based plan that undermines New York State Home Rule regulations and municipal zoning ordinances. My Administration will keep all our options open in order to stop this plan in its tracks.”

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