In an op-ed piece published Friday in the Niagara Gazette, City Council Chairman Glenn A. Choolokian urges careful consideration before the city decides how to spend what's going to be left of the $89 million it's getting, now that there's a deal between the Seneca Nation of Indians and the state.
Choolokian says the city should adopt a "money-management plan" as opposed to a "spending plan."
He boils down what he says lies ahead for the city:
"The only two questions we need to keep in mind as we administer the casino funds are: Is this particular project/proposal/expenditure needed and is it good - ultimately good in the long term - for Niagara Falls and its taxpayers."
Continue reading "Niagara Falls City Council chairman weighs in on casino cash" »
Moody's says last week's deal between the Seneca Nation of Indians and the state is a "credit positive" for the cities who were waiting for the revenue, including Niagara Falls.
Last month, Moody's downgraded the city's credit rating for the second time in five months in large part because of the casino cash dispute.
Here's Moody's full statement:
Continue reading "Moody's makes no change to Niagara Falls' credit rating in light of casino cash deal" »
Mayor Paul A. Dyster has called a news conference for 3 p.m. Tuesday to talk about the city's plans for its share of revenue from Seneca Niagara Casino.
Dyster will announce a "step-by-step course of action" during a session planned for Council Chambers in City Hall.
"There are many questions surrounding this settlement and I want to communicate the facts directly to the public," Dyster said in a written statement released Sunday afternoon.
Here's Dyster's full statement:
Continue reading "Dyster to discuss plan for Niagara Falls' share of casino revenue" »
The local share of casino revenue is ready to flow again.
And the communities that host the Seneca Nation's three casinos are more than ready to receive it.
There hasn't been an official breakdown released publicly of how the $89 million will be split up between the City of Niagara Falls and the other entities in line under state legislation to receive part of the funding.
Continue reading "Casino cash: Looking ahead by looking back at how funds were spent in Niagara Falls" »
Niagara County calls for one-year extension with NTCC, CEO Percy steamed
Plug for Seneca Niagara Casino & Hotel pulled from state website
Aldi closing Porter Road store for two weeks for renovations
Allegations of sexual misconduct get Falls school employee placed on leave
*****Update 9:12 a.m. Wednesday: Here's my story on the audit - Audit by State Comptroller’s Office slams Falls’ budgeting practices
Story's been filed. For now, here's the full report:
State Comptroller's audit of City of Niagara Falls
Bloomberg has painted a picture of the City of Niagara Falls' finances by talking with bond investors.
And it ain't pretty.
Niagara Falls Near Junk as Casino Spat Drains Cash