WPCNR CAMPAIGN 03 TRAIL. From the Cantatore Press Office. October 27, 2003:
William Ryan's Opponnent for the 5th District County Legislator seat representing White Plains and Scarsdale, Frank Cantatore, called today for a halt on capital spending by the County next year.
“Given the very precarious state the county finances find themselves at the moment. With current capital projects such as the County Courthouse renovation and Hudson Hills golf course running at huge cost overruns. I am asking that the county defer capital spending programs that are not immediately necessary such as the renovation at the county’s laboratories. We must first look to address the out of control expenditures with current projects and focus on improving the financial situation,” said Cantatore.
He added, “the last thing Westchester needs to do is spend money when we’re looking at two capital projects that combined will cost the taxpayers at this point $60 million and growing everyday. I’m very leery about adding another $80 million to an already out of control financial mess. A mess that my opponent as Vice Chairman contributed to by his gross negligence and his inability to grasp the finer points of a complex financial situation.”
The county recently announced that it wants to spend $80 million on capital projects ranging from rebuilding Tibbits Park in Yonkers, to $8.7 million to renovate the Office of Laboratories. Right now the county is looking to refinance up $186 million in county debt. Capital projects are financed through borrowing and are paid off between 5 to 20 years.
“Right now it is time for us to take stock of what can be financed and what cannot. Surely we can defer such expenditures as the renovation of Tibbits Park to the following year. I am afraid that if we continue down this path we will only dig the county further into debt; who’s end result can only be higher taxes,” said Cantatore.
