Two editorials in today's Buffalo News Opinion section about good things happening locally. Don't worry, we'll be back to our normal grumpy selves in a day or two.
- It’s a new day - Buffalo News Editorial
It wasn’t that long ago that the idea of big-time investors competing for the right to lend the City of Buffalo millions of dollars—and offering rock-bottom interest rates to boot— would have been dismissed as a fantasy.
But this month the city felt confident enough in the attractiveness of its bond issues to offer them for sale on the open market. And city officials’ faith—and their long efforts at fiscal reconstruction—were rewarded. ...
The larger of the two offerings, $22.7 million, was snapped up by J.P. Morgan Securities, in a bid that will force taxpayers to fork over only 3.63 percent interest. Morgan Stanley&Co. won the other contest, agreeing to charge interest of only 3.53 percent for the use of $4.9 million. ...
Democrat [Mayor Byron] Brown and Republican County Executive Chris Collins have kept their pencils sharp and, with the control boards [city and county] and the taxpayers looking over their shoulders, have made great strides toward fiscal stability in these parts.
There’s more work to do. But the progress has been nothing short of amazing.
- City holds first bond auction since 1986 - Brian Meyer/The Buffalo News
[When I googled "city buffalo bond sale," the Google website asked me if I really meant, "city buffalo bone sale." Not this time.]
Revise and extend: We are reminded that, while we wanted to credit Mayor Brown, and the control board, for the city's fiscal improvement, it is not the mayor that sells bonds for the city. It is City Comptroller Andrew A. SanFilippo.
- AmeriCorps gets help - Buffalo News Editorial
It never made any sense that the Western New York educational program run by AmeriCorps was refused the funding it needed to continue providing hundreds of tutors to serve thousands of students.
Considering that all the available money from that pot went to the New York City area, it may have had a certain twisted political logic to it. But the cut-off would have done unforgivable harm to an effective program that attacks our pervasive poverty at its roots.
Thus it was wonderful news that came recently when Rep. Brian Higgins and WNY AmeriCorps CEO Mark P. Lazzara were able to announce that a new vein of federal money had been tapped to continue the program.
That means the AmeriCorps Builds Lives through Education — ABLE — program will live on with $2.3 million in federal funds that were allotted to New York to distribute.
-- George Pyle/The Buffalo News
taggedCurrent Affairs | Editorials