Finance, Assessment and Taxation Committee

COMMON COUNCIL MEETING Finance, Assessment and Taxation Sonia Frederick, Chair DATE: WEDNESDAY, NOVEMBER 6, 2024 TIME: 6:00 PM or directly after the Caucus/Work Session LOCATION: Council Chambers-2nd Floor, City Hall TOPICS OF DISCUSSION:  Budget discussion and possible vote on recommendations and bond ordinances: 41.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $3,366,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $3,366,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (DGS – WASTE MANAGEMENT PLAN) 51.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $600,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $600,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (ENGINEERING – SIDEWALK RECONSTRUCTION) 52.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $5,000,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $5,000,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (ENGINEERING – STREET RECONSTRUCTION) 62.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $1,220,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $1,220,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (RECREATION – PLAYGROUNDS)  Local Law K of 2024 A LOCAL LAW OVERRIDING THE TAX LEVY LIMIT LAW FOR FISCAL YEAR 2025  Ordinance 28.101.24 AN ORDINANCE ADOPTING THE CITY OF ALBANY BUDGET FOR FISCAL YEAR 2025 AS PRESENTED BY THE MAYOR ON OCTOBER 1, 2024  Resolution 108.101.24R A RESOLUTION OF THE COMMON COUNCIL ESTABLISHING THE LOCALLY-ADJUSTED BASE PROPORTIONS OF THE HOMESTEAD AND NON-HOMESTEAD CLASSES FOR PROPERTY TAX PURPOSES PURSUANT TO ARTICLE 19 OF THE REAL PROPERTY TAX LAW  Resolution 123.111.24R A RESOLUTION OF THE COMMON COUNCIL OUTLINING ITS ACTIONS AND EXPRESSING ITS FINDINGS AND INTENT CONCERNING THE CITY OF ALBANY 2025 BUDGET AS PROPOSED IN ORDINANCE 28.101.24 PUBLIC COMMENT PERIOD: YES Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Finance, Taxation and Assessment Committee, introduced the following: ORDINANCE 41.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $3,366,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $3,366,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (DGS – WASTE MANAGEMENT PLAN) The City of Albany, in Common Council convened, does hereby ordain and enact: Section 1. The objects or purposes to be authorized and financed pursuant to this ordinance are set forth below, together with estimates of the maximum estimated costs thereof; determinations of the periods of probable usefulness thereof and the subparagraphs of Section 11.00(a) of the New York Local Finance Law pursuant to which it is determined; the maximum amount of the bonds to be issued with respect to such object or purpose and the maximum term of the obligations to be issued with respect to each project or purpose. Object or Purpose: Ongoing implementation of the Waste Management Plan Local Finance Law Section 11(a) Clause: 6 Period of Probable Usefulness: 25 years Maximum Term of Obligations: 25 years Maximum Estimated Cost: $3,366,000 Maximum Amount of Bonds: $3,366,000 Treasurer’s Project Number(s): GH.1491.1490.9306 Section 2. The plan of financing such objects or purposes is the lease financing of or the issuance of $3,366,000 serial bonds hereby authorized to be issued. Section 3. It is hereby ordered and directed that the projects specified above be undertaken and the amounts set forth as the maximum estimated costs are hereby appropriated therefor. The Board of Contract and Supply is hereby authorized to take such necessary and further steps to carry out the provisions of this section. Section 4. Pending the sale of the bonds herein authorized, the temporary use of funds from the City’s general fund, pursuant to the provisions of section 165.10 of the New York Local Finance Law, is hereby authorized. The City reasonably expects to reimburse such temporary expenditures with the proceeds of the bonds or bond anticipation notes authorized by Section 1 of this ordinance. This ordinance shall constitute the City’s “official intent” to reimburse such temporary expenditures in accordance with Untied States Treasury Regulation section 1.150-2. Section 5. The faith and credit of the City of Albany, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such leases or bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such leases or bonds becoming due and payable in such year and such debt service payments may be made in substantially level or declining amounts as may be authorized by law. There shall annually be levied on all taxable real property of said City, a tax sufficient to pay the principal of and interest on such leases or bonds as the same become due and payable. Matter in strikethrough to be deleted. Matter underlined is new material.  Section 6. Subject to the provisions of the New York Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated in the City Treasurer, as chief fiscal officer of the City of Albany. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said City Treasurer, consistent with the provisions of Local Finance Law. Section 7. The City Treasurer is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the leases or bonds authorized by this resolution and any notes issued in anticipation thereof, as excludable from federal income taxation pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”) and to designate the bonds authorized by this resolution, and any notes issued in anticipation thereof as “qualified tax-exempt bonds” in accordance with Section 265(b)(3)(B)(i) of the Code. Section 8. The City Treasurer is further authorized to enter into a continuing disclosure agreement with the initial issuer of the leases or the purchaser of the bonds or notes authorized by this resolution, containing provisions which are satisfactory to such purchaser in compliance with the provisions of Rule 15c12-12, promulgated by the Securities and Exchange Commission, pursuant to the Securities and Exchange Act of 1934. Section 9. The validity of such leases or bonds and bond anticipation notes may be contested only if: (a) Such obligations are authorized for an object or purpose for which said City is not authorized to expend money, or (b) The provisions of law which should be complied with at the date of publication of this ordinance pursuant to Section 8 hereof are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or (c) Such obligations are authorized in violation of the provisions of the Constitution. Section 10. Upon this ordinance taking effect, the Clerk of the Common Council is hereby authorized and directed to publish the same together with a notice in substantially the form set forth in section 81.00 of the New York Local Finance Law. Section 11. It is hereby determined that except as hereinafter specified, the authority and funding of the projects aforesaid constitute either unlisted or Type II actions under the New York State Environmental Quality Review Act and the regulations promulgated thereunder having no adverse effect upon the environment. Section 12. This ordinance shall be dated October 21, 2024, and shall take effect upon its approval by the Board of Estimate and Apportionment of the City of Albany. APPROVED AS TO FORM THIS 10TH DAY OF OCTOBER, 2024 _______________________________ Corporation Counsel Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Finance, Taxation and Assessment Committee, introduced the following: ORDINANCE 51.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $600,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $600,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (ENGINEERING – SIDEWALK RECONSTRUCTION) The City of Albany, in Common Council convened, does hereby ordain and enact: Section 1. The objects or purposes to be authorized and financed pursuant to this ordinance are set forth below, together with estimates of the maximum estimated costs thereof; determinations of the periods of probable usefulness thereof and the subparagraphs of Section 11.00(a) of the New York Local Finance Law pursuant to which it is determined; the maximum amount of the bonds to be issued with respect to such object or purpose and the maximum term of the obligations to be issued with respect to each project or purpose. Object or Purpose: Sidewalk reconstruction Local Finance Law Section 11(a) Clause: 24 Period of Probable Usefulness: 10 years Maximum Term of Obligations: 10 years Maximum Estimated Cost: $600,000 Maximum Amount of Bonds: $600,000 Treasurer’s Project Number(s): GH.1492.5010.9512 Section 2. The plan of financing such objects or purposes is the lease financing of or the issuance of $600,000 serial bonds hereby authorized to be issued. Section 3. It is hereby ordered and directed that the projects specified above be undertaken and the amounts set forth as the maximum estimated costs are hereby appropriated therefor. The Board of Contract and Supply is hereby authorized to take such necessary and further steps to carry out the provisions of this section. Section 4. Pending the sale of the bonds herein authorized, the temporary use of funds from the City’s general fund, pursuant to the provisions of section 165.10 of the New York Local Finance Law, is hereby authorized. The City reasonably expects to reimburse such temporary expenditures with the proceeds of the bonds or bond anticipation notes authorized by Section 1 of this ordinance. This ordinance shall constitute the City’s “official intent” to reimburse such temporary expenditures in accordance with Untied States Treasury Regulation section 1.150-2. Section 5. The faith and credit of the City of Albany, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such leases or bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such leases or bonds becoming due and payable in such year and such debt service payments may be made in substantially level or declining amounts as may be authorized by law. There shall annually be levied on all taxable real property of said City, a tax sufficient to pay the principal of and interest on such leases or bonds as the same become due and payable. Matter in strikethrough to be deleted. Matter underlined is new material.  Section 6. Subject to the provisions of the New York Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated in the City Treasurer, as chief fiscal officer of the City of Albany. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said City Treasurer, consistent with the provisions of Local Finance Law. Section 7. The City Treasurer is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the leases or bonds authorized by this resolution and any notes issued in anticipation thereof, as excludable from federal income taxation pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”) and to designate the bonds authorized by this resolution, and any notes issued in anticipation thereof as “qualified tax-exempt bonds” in accordance with Section 265(b)(3)(B)(i) of the Code. Section 8. The City Treasurer is further authorized to enter into a continuing disclosure agreement with the initial issuer of the leases or the purchaser of the bonds or notes authorized by this resolution, containing provisions which are satisfactory to such purchaser in compliance with the provisions of Rule 15c12-12, promulgated by the Securities and Exchange Commission, pursuant to the Securities and Exchange Act of 1934. Section 9. The validity of such leases or bonds and bond anticipation notes may be contested only if: (a) Such obligations are authorized for an object or purpose for which said City is not authorized to expend money, or (b) The provisions of law which should be complied with at the date of publication of this ordinance pursuant to Section 8 hereof are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or (c) Such obligations are authorized in violation of the provisions of the Constitution. Section 10. Upon this ordinance taking effect, the Clerk of the Common Council is hereby authorized and directed to publish the same together with a notice in substantially the form set forth in section 81.00 of the New York Local Finance Law. Section 11. It is hereby determined that except as hereinafter specified, the authority and funding of the projects aforesaid constitute either unlisted or Type II actions under the New York State Environmental Quality Review Act and the regulations promulgated thereunder having no adverse effect upon the environment. Section 12. This ordinance shall be dated October 21, 2024, and shall take effect upon its approval by the Board of Estimate and Apportionment of the City of Albany. APPROVED AS TO FORM THIS 10TH DAY OF OCTOBER, 2024 _______________________________ Corporation Counsel Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Finance, Taxation and Assessment Committee, introduced the following: ORDINANCE 52.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $5,000,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $5,000,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (ENGINEERING – STREET RECONSTRUCTION) The City of Albany, in Common Council convened, does hereby ordain and enact: Section 1. The objects or purposes to be authorized and financed pursuant to this ordinance are set forth below, together with estimates of the maximum estimated costs thereof; determinations of the periods of probable usefulness thereof and the subparagraphs of Section 11.00(a) of the New York Local Finance Law pursuant to which it is determined; the maximum amount of the bonds to be issued with respect to such object or purpose and the maximum term of the obligations to be issued with respect to each project or purpose. Object or Purpose: Street reconstruction Local Finance Law Section 11(a) Clause: 20(d) Period of Probable Usefulness: 15 years Maximum Term of Obligations: 15 years Maximum Estimated Cost: $5,000,000 Maximum Amount of Bonds: $5,000,000 Treasurer’s Project Number(s): GH.1492.5010.9513 Section 2. The plan of financing such objects or purposes is the lease financing of or the issuance of $5,000,000 serial bonds hereby authorized to be issued. Section 3. It is hereby ordered and directed that the projects specified above be undertaken and the amounts set forth as the maximum estimated costs are hereby appropriated therefor. The Board of Contract and Supply is hereby authorized to take such necessary and further steps to carry out the provisions of this section. Section 4. Pending the sale of the bonds herein authorized, the temporary use of funds from the City’s general fund, pursuant to the provisions of section 165.10 of the New York Local Finance Law, is hereby authorized. The City reasonably expects to reimburse such temporary expenditures with the proceeds of the bonds or bond anticipation notes authorized by Section 1 of this ordinance. This ordinance shall constitute the City’s “official intent” to reimburse such temporary expenditures in accordance with Untied States Treasury Regulation section 1.150-2. Section 5. The faith and credit of the City of Albany, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such leases or bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such leases or bonds becoming due and payable in such year and such debt service payments may be made in substantially level or declining amounts as may be authorized by law. There shall annually be levied on all taxable real property of said City, a tax sufficient to pay the principal of and interest on such leases or bonds as the same become due and payable. Matter in strikethrough to be deleted. Matter underlined is new material.  Section 6. Subject to the provisions of the New York Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated in the City Treasurer, as chief fiscal officer of the City of Albany. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said City Treasurer, consistent with the provisions of Local Finance Law. Section 7. The City Treasurer is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the leases or bonds authorized by this resolution and any notes issued in anticipation thereof, as excludable from federal income taxation pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”) and to designate the bonds authorized by this resolution, and any notes issued in anticipation thereof as “qualified tax-exempt bonds” in accordance with Section 265(b)(3)(B)(i) of the Code. Section 8. The City Treasurer is further authorized to enter into a continuing disclosure agreement with the initial issuer of the leases or the purchaser of the bonds or notes authorized by this resolution, containing provisions which are satisfactory to such purchaser in compliance with the provisions of Rule 15c12-12, promulgated by the Securities and Exchange Commission, pursuant to the Securities and Exchange Act of 1934. Section 9. The validity of such leases or bonds and bond anticipation notes may be contested only if: (a) Such obligations are authorized for an object or purpose for which said City is not authorized to expend money, or (b) The provisions of law which should be complied with at the date of publication of this ordinance pursuant to Section 8 hereof are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or (c) Such obligations are authorized in violation of the provisions of the Constitution. Section 10. Upon this ordinance taking effect, the Clerk of the Common Council is hereby authorized and directed to publish the same together with a notice in substantially the form set forth in section 81.00 of the New York Local Finance Law. Section 11. It is hereby determined that except as hereinafter specified, the authority and funding of the projects aforesaid constitute either unlisted or Type II actions under the New York State Environmental Quality Review Act and the regulations promulgated thereunder having no adverse effect upon the environment. Section 12. This ordinance shall be dated October 21, 2024, and shall take effect upon its approval by the Board of Estimate and Apportionment of the City of Albany. APPROVED AS TO FORM THIS 10TH DAY OF OCTOBER, 2024 _______________________________ Corporation Counsel Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Finance, Taxation and Assessment Committee, introduced the following: ORDINANCE 62.102.24 AN ORDINANCE AUTHORIZING CERTAIN PURCHASES BY THE CITY OF ALBANY, NEW YORK AT A MAXIMUM ESTIMATED COST OF $1,220,000 AND AUTHORIZING THE LEASE FINANCING OR THE ISSUANCE OF $1,220,000 SERIAL BONDS OF SAID CITY TO PAY THE COST THEREOF (RECREATION – PLAYGROUNDS) The City of Albany, in Common Council convened, does hereby ordain and enact: Section 1. The objects or purposes to be authorized and financed pursuant to this ordinance are set forth below, together with estimates of the maximum estimated costs thereof; determinations of the periods of probable usefulness thereof and the subparagraphs of Section 11.00(a) of the New York Local Finance Law pursuant to which it is determined; the maximum amount of the bonds to be issued with respect to such object or purpose and the maximum term of the obligations to be issued with respect to each project or purpose. Object or Purpose: Improvements to playgrounds City-wide Local Finance Law Section 11(a) Clause: 19 Period of Probable Usefulness: 15 years Maximum Term of Obligations: 15 years Maximum Estimated Cost: $1,220,000 Maximum Amount of Bonds: $1,220,000 Treasurer’s Project Number(s): GH.7110.9582 Section 2. The plan of financing such objects or purposes is the lease financing of or the issuance of $1220,000 serial bonds hereby authorized to be issued. Section 3. It is hereby ordered and directed that the projects specified above be undertaken and the amounts set forth as the maximum estimated costs are hereby appropriated therefor. The Board of Contract and Supply is hereby authorized to take such necessary and further steps to carry out the provisions of this section. Section 4. Pending the sale of the bonds herein authorized, the temporary use of funds from the City’s general fund, pursuant to the provisions of section 165.10 of the New York Local Finance Law, is hereby authorized. The City reasonably expects to reimburse such temporary expenditures with the proceeds of the bonds or bond anticipation notes authorized by Section 1 of this ordinance. This ordinance shall constitute the City’s “official intent” to reimburse such temporary expenditures in accordance with Untied States Treasury Regulation section 1.150-2. Section 5. The faith and credit of the City of Albany, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such leases or bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such leases or bonds becoming due and payable in such year and such debt service payments may be made in substantially level or declining amounts as may be authorized by law. There shall annually be levied on all taxable real property of said City, a tax sufficient to pay the principal of and interest on such leases or bonds as the same become due and payable. Matter in strikethrough to be deleted. Matter underlined is new material.  Section 6. Subject to the provisions of the New York Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated in the City Treasurer, as chief fiscal officer of the City of Albany. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said City Treasurer, consistent with the provisions of Local Finance Law. Section 7. The City Treasurer is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the leases or bonds authorized by this resolution and any notes issued in anticipation thereof, as excludable from federal income taxation pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”) and to designate the bonds authorized by this resolution, and any notes issued in anticipation thereof as “qualified tax-exempt bonds” in accordance with Section 265(b)(3)(B)(i) of the Code. Section 8. The City Treasurer is further authorized to enter into a continuing disclosure agreement with the initial issuer of the leases or the purchaser of the bonds or notes authorized by this resolution, containing provisions which are satisfactory to such purchaser in compliance with the provisions of Rule 15c12-12, promulgated by the Securities and Exchange Commission, pursuant to the Securities and Exchange Act of 1934. Section 9. The validity of such leases or bonds and bond anticipation notes may be contested only if: (a) Such obligations are authorized for an object or purpose for which said City is not authorized to expend money, or (b) The provisions of law which should be complied with at the date of publication of this ordinance pursuant to Section 8 hereof are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or (c) Such obligations are authorized in violation of the provisions of the Constitution. Section 10. Upon this ordinance taking effect, the Clerk of the Common Council is hereby authorized and directed to publish the same together with a notice in substantially the form set forth in section 81.00 of the New York Local Finance Law. Section 11. It is hereby determined that except as hereinafter specified, the authority and funding of the projects aforesaid constitute either unlisted or Type II actions under the New York State Environmental Quality Review Act and the regulations promulgated thereunder having no adverse effect upon the environment. Section 12. This ordinance shall be dated October 21, 2024, and shall take effect upon its approval by the Board of Estimate and Apportionment of the City of Albany. APPROVED AS TO FORM THIS 10TH DAY OF OCTOBER, 2024 _______________________________ Corporation Counsel Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Committee on Finance, Assessment and Taxation, introduced the following: LOCAL LAW K OF 2024 A LOCAL LAW OVERRIDING THE TAX LEVY LIMIT LAW FOR FISCAL YEAR 2025 Be it enacted, by the Common Council of the City of Albany, as follows: Section 1. Legislative intent. It is the intent of the Common Council to minimize the real property tax burden on the City’s residents and businesses. Recognizing the need for increased non-property tax revenues to support the services the City must and desires to provide, the Common Council supports the request the Mayor has made to the State of New York to increase the funding the State provides in exchange for its $6.5 billion- worth of real property within the City that is non-taxable. In the event the State enacts the Mayor’s request as proposed, $20 million of funding would be reclassified from miscellaneous State Aid to Payments in Lieu of Taxes (PILOTs). This action would cause the City to exceed the Tax Levy Limit Law for fiscal year 2025 despite the increase in the City tax levy for fiscal year 2025 being compliant with the tax levy limit law, absent this reclassification of revenues. In recognition of the foregoing, the Common Council desires to authorize the override of the Tax Levy Limit Law for fiscal year 2025. Section 2. The Common Council hereby overrides the tax levy limit law pursuant to section 3-c (5) of General Municipal Law of the State of New York, and the City is authorized to exceed the tax levy limit for fiscal year 2025 as determined by the formula established by section 3-c (3) (c) of General Municipal Law of the State of New York. Section 3. This law shall take effect immediately upon final passage, public hearing, and filing with the Secretary of State. APPROVED AS TO FORM THIS 11TH DAY OF OCTOBER, 2024 ___________________________ CORPORATION COUNSEL Matter in strikethrough to be deleted. Matter underlined is new material. To: Shaniqua Jackson, City Clerk From: Brett Williams, Esq., Senior Assistant Corporation Counsel Gideon Grande, Budget Director Re: Common Council Legislation Supporting Memorandum Date: October 1, 2024 Sponsor: Council Member Frederick, on behalf of the Committee on Finance, Assessment and Taxation LOCAL LAW K of 2024 TITLE A LOCAL LAW OVERRIDING THE TAX LEVY LIMIT LAW FOR FISCAL YEAR 2025 GENERAL PURPOSE OF LEGISLATION This local law would override the tax levy limit law in order to accommodate the reclassification of certain payments from the State from miscellaneous State Aid to Payments in Lieu of Tax. The City is authorized to do so by General Municipal Law § 3-c(5). NECESSITY FOR LEGISLATION AND ANY CHANGE TO EXISTING LAW In the event the State enacts the Mayor’s request as proposed, $20 million of funding would be shifted from miscellaneous State Aid to Payments in Lieu of Taxes (PILOTs). This action would cause the City to exceed the Tax Levy Limit Law for fiscal year 2025 despite the increase in the City tax levy for fiscal year 2025 being tax levy limit law compliant. This local law requires a three-fifths vote of the Common Council to become law. FISCAL IMPACTS This local law has no fiscal impact as compared to the Mayor’s 2025 Proposed Budget. Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Committee on Finance, Assessment and Taxation, introduced the following: ORDINANCE 28.101.24 AN ORDINANCE ADOPTING THE CITY OF ALBANY BUDGET FOR FISCAL YEAR 2025 AS PRESENTED BY THE MAYOR ON OCTOBER 1, 2024 The City of Albany, in Common Council convened, does hereby ordain and enact: Section 1. The 2025 City Budget as proposed by the Mayor on October 1, 2024 is hereby adopted as the Budget of the City of Albany for fiscal year 2025. Section 2. It is hereby ordered and directed that the sums set forth therein as expenditures are hereby appropriated in the amounts and for the several departments, offices and purposes specified therein under the following general categories of expenditure: Personal Services (Code 10); Equipment (Code 20); Contractual Expenditures (Code 40); Debt Principal (Code 60); Debt Interest (Code 70); Employee Benefits (Code 80); Inter- fund Transfers (Code 90); and Capital Projects. Section 3. It is further hereby ordered and directed that the positions set forth therein are hereby authorized, created, and/or continued. The number appearing on the line items of each position shall be the number of positions under such title. Salary grades as proposed by Mayor are hereby adopted and incorporated. Section 4. It is further hereby directed that, notwithstanding any provision of local law to the contrary, the City Treasurer may authorize the temporary use of US Treasury Local Fiscal Recovery Funds on account with the City which are not immediately required for the purpose or purposes for which they have been authorized. Such funds shall be made again available to the City in accordance with applicable provisions New York State General Municipal and Local Finance Law, and City Code. Section 5. It is further hereby ordered and directed that the sums set forth in the budget as presented by the Mayor on October 1, 2024 as revenues and moneys necessary to be raised by tax in addition thereto, to pay the expenses of conducting the business of the City, shall be and are hereby applicable in the amounts specified for the purpose of meeting said appropriations. Section 6. The ordinance shall take effect immediately. APPROVED AS TO FORM THIS 27TH DAY OF SEPTEMBER, 2024 ___________________________ Corporation Counsel Matter in strikethrough to be deleted. Matter underlined is new material. To: Shaniqua Jackson, City Clerk From: Brett Williams, Esq., Senior Assistant Corporation Counsel Re: Common Council Legislation Supporting Memorandum Date: September 27, 2024 Sponsor: Council Member Frederick o/b/o Finance Committee ORDINANCE 28.101.24 TITLE AN ORDINANCE ADOPTING THE CITY OF ALBANY BUDGET FOR FISCAL YEAR 2025 AS PRESENTED BY THE MAYOR ON OCTOBER 1, 2024 GENERAL PURPOSE OF LEGISLATION To adopt the budget for the City for the 2025 fiscal year. NECESSITY FOR LEGISLATIONA ND ANY CHANGE TO EXISTING LAW Under the City Charter, the Common Council must adopt the budget, with or without amendments, on or before November 30. FISCAL IMPACTS This ordinance approves the City budget for 2025. Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick, on behalf of the Committee on Finance, Assessment and Taxation, introduced the following: RESOLUTION 108.101.24R (Pending Amendment 11/18/2024) A RESOLUTION OF THE COMMON COUNCIL ESTABLISHING THE LOCALLY- ADJUSTED BASE PROPORTIONS OF THE HOMESTEAD AND NON-HOMESTEAD CLASSES FOR PROPERTY TAX PURPOSES PURSUANT TO ARTICLE 19 OF THE REAL PROPERTY TAX LAW WHEREAS, by Local Law No. 1-1998, the Common Council adopted the provisions of Section 1903 of the Real property Tax Law relating to the establishment of homestead and non-homestead base proportions; and WHEREAS, pursuant to section 1903 (4) of the Real Property Tax Law, the City of Albany has opted not to amend its differential; and WHEREAS, section 1903 (3)(a)(i), the legislative body of the assessing unit, i.e. the Common Council, must annually determine the locally-adjusted homestead and non-homestead base proportions; and WHEREAS, pursuant to section 1903 of the Real Property Tax Law, the locally-adjusted homestead base proportion of the City of Albany’s assessment roll of 2024 has been determined to be 55.513 percent; and WHEREAS, pursuant to section 1903 of the Real Property Tax Law, the locally-adjusted non-homestead base proportion of the City of Albany’s assessment roll of 2024 has been determined to be 44.487 percent; and NOW, THEREFORE, BE IT RESOLVED, that the Common Council of the City of Albany does hereby establish the existing class shares as follows: The locally-adjusted homestead base proportion shall equal 55.513 percent and the locally-adjusted non- homestead base proportion shall equal 44.487 percent; and BE IT FURTHER RESOLVED, that the Common Council of the City of Albany hereby certifies the above adjusted base proportions to the Chief Fiscal Officer of the Albany City School District and to the Commissioner of the New York State Department of Taxation and Finance that, for the 2025-26 tax year; and BE IT FURTHER RESOLVED, that copies of this resolution shall, upon passage, be transmitted to the Chief Fiscal Officer of the Albany City School District and to the Commissioner of the New York State Department of Taxation and Finance. Matter in strikethrough to be deleted. Matter underlined is new material. To: Shaniqua Jackson, City Clerk From: Brett Williams, Senior Corporation Counsel Re: Common Council Legislation Supporting Memorandum Date: September 27, 2024 Sponsor: Council Member Frederick o/b/o Finance Committee RESOLUTION 108.101.24R TITLE A RESOLUTION OF COMMON COUNCIL ESTABLISHING THE LOCALLY-ADJUSTED BASE PROPORTIONS OF THE HOMESTEAD AND NON-HOMESTEAD CLASSES FOR PROPERTY TAX PURPOSES PURSUANT TO ARTICLE 19 OF THE REAL PROPERTY TAX LAW GENERAL PURPOSE OF LEGISLATION This resolution establishes the locally-adjusted base proportions of taxable value for the homestead and non- homestead classes regarding the City’s 2024 assessment roll for property taxes payable in January, 2025. Generally speaking, the homestead class includes residential parcels, while the non-homestead class includes commercial parcels. The established tax base proportions will be as follows: Homestead: 55.5130% Non-Homestead: 44.4870% NECESSITY FOR LEGISLATION AND ANY CHANGE TO EXISTING LAW Article 19 of the Real Property Tax Law requires the local legislative body in a taxing jurisdiction that has split the assessment roll into homestead and non-homestead classes to calculate the current and adjusted base proportions of the two classes and to establish those adjusted base proportions by resolution. This resolution fulfills that requirements. FISCAL IMPACT(S) None. Matter in strikethrough to be deleted. Matter underlined is new material. Council Member Frederick on behalf of the Committee on Finance, Assessment, and Taxation introduced the following: RESOLUTION 123.111.24R A RESOLUTION OF THE COMMON COUNCIL OUTLINING ITS ACTIONS AND EXPRESSING ITS FINDINGS AND INTENT CONCERNING THE CITY OF ALBANY 2025 BUDGET AS PROPOSED IN ORDINANCE 28.101.24 WHEREAS, on October 1, 2024, the Common Council received the Mayor’s proposed budget for the City of Albany for the fiscal year 2025 and the accompanying Mayor’s budget message; and WHEREAS, after receipt of such budget, the Finance, Taxation and Assessment Committee and the full Common Council engaged in an extensive review of the proposed budget, which included over twelve meetings, discussions with ten Department heads, two public hearings, and requests for additional information; and WHEREAS, the Common Council has identified several areas of concern, needed amendments, and items requiring further action; NOW, THEREFORE, BE IT RESOLVED that the Common Council adopts the following statement outlining its findings, intent, and recommendations for future action concerning the Proposed City of Albany Budget for Fiscal Year 2025: Proposed 2025 City of Albany Budget Statement of Common Council Actions, Findings, Intent, and Recommendations Matter in strikethrough to be deleted. Matter underlined is new material. To: Shaniqua Jackson, City Clerk From: Bryan Jimenez, Legislative Director Re: Supporting Memorandum Date: October 25, 2024 Sponsor: Council Member Frederick, on behalf of the Committee of Finance, Assessment and Taxation RESOLUTION 123.111.24R TITLE RESOLUTION OF THE COMMON COUNCIL OUTLINING ITS ACTIONS AND EXPRESSING ITS FINDINGS AND INTENT CONCERNING THE CITY OF ALBANY 2023 BUDGET AS PROPOSED IN ORDINANCE 28.101.24 GENERAL PURPOSE OF LEGISLATION To adopt an explanatory resolution to be read in conjunction with the actions of the Common Council concerning the budget. FISCAL IMPACT None. Matter in strikethrough to be deleted. Matter underlined is new material.