State looks to fund tax reduction plans
A $25 million Municipal Restructuring Fund is available to assist local governments and school districts to create “transformative projects” resulting in property tax reductions, according to Assemblyman Fred Thiele Jr. (I-Sag Harbor).The Municipal Restructuring Fund is a grant program funded through the 2015-16 state budget. Proposals for projects must be submitted to the state that will rank them for their ability to meet the criteria, including their potential impact across local governments, service delivery areas and municipal functions to realize long-term property tax savings.
Money will be awarded to qualified projects until the funding is exhausted, Mr. Thiele said.
The New York State Department of State plans to identify local leaders with transformative ideas and to help them to define potentially viable projects.
The Department of State will help to test ideas in the development stages to refine and test the assumptions made about potential tax savings.
Local government or school district officials interested in partnering with the Department of State on such transformative restructuring programs should contact the Division of Local Government Services at 518-473-3355 or visit the website at www.dos.ny.gov/funding/rfa-15-mrf-27/index.html.
