Where will the money come from?
To the editor:
The estimated price tag for the proposed new Saranac Lake Emergency Services Complex at 33 Petrova Ave. is $27.5 million. Currently, approximately $7.5 million in funding has been secured, $4.5 million of which is a federal grant. This leaves a shortfall of $20 million.
The interest alone on a 20-year bond at the going rate of 4% would be $800,000 a year. If the village chose to set aside money to pay off the bond in equal 20-year installments the cost would be an additional $624,000 a year, again assuming 4% interest on the $624,000 annual payments. So, the total annual amount to service the bond would be $1,424,000, which is 20% of the current village budget.
At a recent village board meeting, a majority of the board was adamantly opposed to even discuss the idea of a 2% occupancy tax on short-term rentals. So I am confident the board would not expect taxpayers to accept a 20% increase in the village budget. In the Enterprise article of Feb. 14, the mayor said as much.
So where will the $20 million come from? In the Feb. 14 article the mayor expressed 100% confidence that more federal and state grants will be forthcoming. Three pertinent questions at this point are:
1. Will the board identify any of the sizable federal and state grants the village expects to receive? In the current political climate, I, and many others are skeptical.
2. Will the board pause any further spending, on planning or preparation, until further funding is obtained?
3. How confident can anyone be that the previously obtained $4,500,000 federal grant will survive Elon Musk’s romp through the federal system?
I fully support improving the infrastructure that houses our police, fire and emergency medical services. However, I don’t see the necessity of housing all three services at one location. The police should be as close to the center of the village, and as accessible as possible, perhaps at the current fire station. It does make sense for the fire and emergency medical services to be in the same location with quick, easy and safe access to the village center, and preferably not in a residential area. The armory would seem to be a great location. Has anyone investigated the availability of it? The potential use of the armory is a recent development and it could be a game changer.
John Monroe
Saranac Lake