Colonie Town Supervisor, Paula Mahan, announced today (Wednesday, Aug. 12) that the Town of Colonie has reduced its $19.7 million deficit to $10.8 million.
Mahan made this announcement outside of Memorial Town Hall. In her announcement she also stated that the town was able to reduce the deficit without any layoffs and through attrition and sale of town assets instead.
She hopes to get the entire deficit paid off in the next five years by continuing sale of town assets and further attrition. Specific assets were not specified.
For more on this story, check back to www.spotlightnews.com or to the Wendesday, Aug. 19th edition of the Colonie Spotlight.