COLONIE In her sixth State of the Town speech, Supervisor Paula Mahan described Colonie as a town that has returned to fiscal stability and is on the brink of embracing a slew of changes in 2013.
Mahan focused on new development and expansion in Colonie in her speech to a packed room of town officials and business leaders on Wednesday, Jan. 9, at the Holiday Inn on Wolf Road. The talk was sponsored by the Albany-Colonie Regional Chamber of Commerce.
Mahan stressed that eliminating the town’s deficit was the chief accomplishment in a successful year.
“As we reflect on the progress we’ve made, nothing has been more important to us than eliminating the huge deficit,” she said. “Eliminating the deficit has enabled us to move forward from a position of financial strength almost impossible to imagine only a few short years ago.”
The supervisor also said the town ended 2011 with a $700,000 fund balance, the “first positive fund balance since 2005.” The town has stayed under the state’s 2 percent tax cap, as well.
As for 2013, Mahan discussed the booming residential and commercial construction in the area. More than 100 new homes came onto Colonie’s tax rolls in 2012, she said, and similar growths are anticipated in coming years.
Plans are developing for a new 115-room Staybridge Suite Hotel at 19 Wolf Road, next to Macy’s, and a new Cap Com Credit Union headquarters at 4 Winners Circle. After welcoming Trader Joe’s in 2012, this year Colonie will add a ShopRite, Whole Foods and an eatery expansion to the Latham Price Chopper.
Construction has begun on a new 12.3-acre passive park at River Road along the Mohawk River and plans are in the works to build sidewalks along Route 9 from Spring Street, on the south side of Siena College, all the way through the Village of New Loudon.