COLONIE Saying it was a confusing matter, Colonie Town Supervisor Paula Mahan tried to clear up any misunderstanding about the town landfill and its deficit at the Colonie Town Board meeting on Thursday, Oct. 11.
Among many of the resolutions passed at the meeting, authorized “the release of the land acquisition and closure reserves to the landfill for debt service purposes.” Mahan explained the measure amounts to dotting the “i”s on the 2011 landfill operation agreement with Waste Connections by taking care of the town’s outstanding accounts associated with the landfill.
“There was deficit in the landfill, which is covered, but there was also debt service where there was prior borrowing,” Mahan said. “We went through IRS attorneys and people specializing in this type of law basically when we received the up front payment from the landfill. We had to see how we could legally use that money.”
“… anything to do with the landfill would have to be covered as far as the deficit,” Mahan continued.
A “good portion” of the $23 million up-front payment from Waste Connections went into debt service, she said.
Town Board Councilman Daniel Hornick said one of the major benefits of the landfill agreement is that “(Waste Connections) will be responsible for disclosure costs.”
Other resolutions passed at the Thursday meeting included several tax certiorari matters. Bed, Bath & Beyond on 32 Wolf Road was one of the properties in question and the business had its 2011 and 2012 assessment decreased by $100,000 to $2.5 million and was given a tax refund.
A public hearing was scheduled for Thursday, Nov. 8, regarding the annual estimate of construction and maintenance expenses for the Town of Colonie Sewer Improvement Area.