continued Mahan touched on the budget process, thanking town departments for reducing their budgets by 15 percent while safeguarding services, and said that the landfill operating agreement with Waste Connections will provide annual income for the town throughout its 25-year lifespan and also eliminated the town’s $21 million deficit.
“The landfill operating agreement will generate more than $100 million over the 25-year life of the contract,” said Mahan. “The agreement provides Colonie with guaranteed annual payments over the life of the agreement. That means the town can rely on guaranteed annual landfill revenue … at a time when landfill revenues have decreased and are likely to continue decreasing as the waste management industry becomes even more competitive.”
The town’s total assessed value increased by $31.7 million in 2011 and allowed the property tax rate for 2012 to be reduced by half a percent, with new residential and commercial construction being partially to thank for that.
Looking to the future, Mahan said she’d strive to ensure the town lives within the 2 percent tax cap and said she is optimistic about sales tax revenues rebounding, though she is still concerned about increases in health insurance and mandated contributions to the New York State pension fund.
With the review process for development streamlined to help projects get started faster, Mahan said she’s looking forward to new businesses like Home Goods, a Hallmark Store and a Sabor Brazilian Steakhouse opening along Route 155, as well as Rumors Salon and Spa on Route 9, a new Crisafulli Warehouse on Old Niskayuna Road and a new Fairfield Inn on Forts Ferry Road and Wade Road Extension. The Latham Price Chopper is also on pace to become the grocery store chain’s “flagship store” with a 10,000-square-foot expansion with a new cooking school and outdoor patio.
Redevelopment in town is just as important, and Mahan pointed to Trader Joe’s and Ted’s Fish Fry on Wolf Road, a new Hannoush Jeweler’s at the former Lexington Grill, renovation to DeNooyer Chevrolet and a new Stewart’s Shop on Route 9 as examples of that.