Dyngus Day, St. Joseph’s Table, Easter and Passover. Our region embraces the traditions brought here by our ancestors, as well as the faith filled celebrations marking important moments in history. Placing value in our story is one of the many reasons I am grateful to live in Western New York.
Another great tradition in our region is our love for the Buffalo Bills. I want to ensure future generations aren’t straddled with debt from the building of a new stadium. My colleagues and I negotiated with the Administration to use more of Erie County’s huge budget surplus to pay down some of Erie County’s obligation. Now Erie County will pay off $9.5 million in existing bonds to the current Bills stadium using cash, and direct another $25 million in cash toward the new stadium. At this point, Erie County has committed $125 million in cash resources, paying for exactly half of our total obligation. By utilizing available cash surplus, we will save taxpayers more than $80 million in interest payments over the life of the loan.
The documents for the new stadium have been provided to the Erie County Legislature and we will be taking a vote on the approval of the new stadium deal in the weeks to come.
This stadium negotiation came during talks about the approval of the yearly bonding resolution. I didn’t want to sign off on that resolution knowing that over the past three years there was $60 million in approved projects paid for with both cash and bonded funds that were either not completed or not started. Adding another $44 million in new projects would just add to the taxpayer’s burden. This is money we’re borrowing and paying interest on. The Administration agreed to reduce borrowing by $6.6 million and convert some projects to cash. One of those projects is Phase 1 of the Lancaster/Cheektowaga William Street reconstruction. I’m also pleased that through these negotiations a resolution was passed that requires the Administration to provide monthly status updates on previously approved capital projects. This provides more transparency and ensures projects are completed and bonded money utilized before the Legislature is asked to borrow more.
The County Executive shared his plans for Erie County in his annual State of the County address last week. As always, I will be curious to hear some specifics that come with the vision he put forth. I’m always willing to consider proposals that will benefit the people I serve.
I am pleased the inclusive playground at Como Lake Park was recently unveiled. My colleagues and I recognized a real need for these playgrounds and back in 2021 advocated to have these projects completed with cash. All of Erie County’s heritage parks have or will soon have these playgrounds so that children of all abilities will be able to play together.
If you have any county related issues you need assistance with, please do not hesitate to call my office at 716-681-2071, or email me at Frank.Todaro@erie.gov. As always, thank you for the honor of serving you.
