Latest news with #AlexandraJacobsWilke
Yahoo
09-05-2025
- Business
- Yahoo
Potsdam village budget passes with 1.31% tax rate increase
May 9—POTSDAM — The village's 2025 — 2026 budget has been approved, featuring a 1.31% increase in the general fund tax rate. During a special meeting held on April 28, the mayor and village trustees formally adopted the new budget. The total budget—covering the general fund as well as water, sewer, hydroelectric, recreation, and trash services—amounts to $12,717,548. Of that, $7,306,261 will be funded through fees and taxes. To help keep the general fund tax rate below New York State's 2% cap, the village will use $400,000 from its fund balance. General fund appropriations for 2025 — 2026 total $8,046,853, partially funded by a $4,004,158 tax levy. Village officials and the board spent several weeks refining the financial plan for the upcoming fiscal year. With the final numbers now set, the board of trustees approved a general fund tax rate of $17.71 per $1,000 of assessed value—up from $17.48, a 1.31% increase. "We were, after a lot of hard work, were able to bring that property tax rate more in line with where it's been in recent years," Mayor Alexandra Jacobs-Wilke said at the meeting. "Which I think is in keeping with the economic anxiety out there given everything happening in the national environment and the local environment. And so what you'll see this evening is a much more conservative property tax increase on the rate end of 1.3%." "And it's well within... it's actually well below property tax rates that we had had for about eight fiscal years prior," the mayor added. "I think about 2017 is the last time that we had rates higher than the last couple of years." "We spoke at length in those budget workshops about all of the very unique circumstances that we faced in this particular year, but I really appreciated everyone's teamwork as we brought this budget in line under the circumstances," she said. The budget also allocates funding across several key service areas: the water fund totals $1,540,565, primarily covered by fees; the sewer fund is set at $1,665,671, also mostly fee-based; hydroelectric services are budgeted at $608,504; recreation at $602,955; and trash services at $253,000. The trash tax rate will decrease to $13.42 per $1,000 of assessed value, down from the current $14.53. The final budget document is online at The board also passed several related measures at the meeting, including a resolution to override the state tax cap, though it ultimately wasn't needed after the budget was adjusted to include only a 1.31% increase. "We actually will not be exceeding the tax cap this year in our prepared our final budget for this year. But we have in past practice, we've passed this just to be safe in case something happens that we are in compliance," Jacobs-Wilke said. As required under a recent local law, the board also approved updated water and sewer rates as part of the annual budgeting process. The water EDU (Equivalent Dwelling Unit) rate will be $134.90 annually, or $33.73 per quarterly bill. Water usage will be charged at $5.43 per 1,000 gallons. The sewer EDU rate will be $138.99 per year, or $34.75 per quarter, with a usage rate of $5.60 per 1,000 gallons. These updated rates will take effect on bills issued after June 1.
Yahoo
15-04-2025
- Business
- Yahoo
Potsdam about to begin construction on DRI streetscape project
Apr. 15—POTSDAM — The village is moving closer to beginning construction on its streetscape renovation and riverwalk trail initiatives, following approval of a $4.68 million bond to finance the initial costs of the work. During its April 7 meeting, the village board of trustees also accepted a contractor's bid for the construction of a new Brooks Street, which will connect Depot and Raymond streets, and hired a marketing firm to assist with the Downtown Revitalization Initiative. The meeting included the passage of a resolution by the trustees and mayor that set the maximum total cost for the Downtown Streetscape and Riverwalk Trail improvements at $4,680,415. The resolution additionally authorizes the village to secure a 10-year bond in that amount from a bank to cover upfront expenses. These improvements will include street, sidewalk, and curb reconstruction, upgraded street lighting, stormwater infrastructure, various furnishings, landscaping, and other related work. While the bond will initially cover costs, reimbursement is expected through various state agencies and grant funding associated with the village's 2018 New York State Downtown Revitalization Initiative. Per the bond resolution, the village will budget an annual appropriation to cover principal and interest payments on the bond. "This is going to provide the bonds that we need to get our DRI projects off the ground," said Mayor Alexandra Jacobs Wilke. "As you know, we're only compensated on a quarterly basis and there could be a lag. So this provides us the funding to get those paid." The new Brooks Street will include sidewalks, LED streetlights, and street trees, creating a more walkable, inviting, and connected area for residents, visitors, and local businesses. The new road is expected to support several current and future projects in the Raymond — Depot Street district, such as the expansion of the North Country Children's Museum, the St. Lawrence County Arts Council's enhancement of the Creative Spirit Community Arts Center, the redevelopment of the Market Square Mall, and the Six Depot Street Redevelopment Project. Officials anticipate that construction will begin immediately and be completed sometime this summer. The board also voted to authorize Jacobs Wilke to enter into an agreement with Destination by Design Planning LLC, a North Carolina-based firm, for branding and marketing services related to the Riverwalk Trail and Streetscape Enhancement projects. The marketing contract will be funded by a state Department of State grant. "We're about to appoint a firm award, a contract for a branding. Our marketing and branding, which is through our Downtown Revitalization initiative money," the mayor said. "We hope that process will build off the work that we did in that Visioning Workshop earlier this past year, led by David Thurlow, our economic developer. And so we're really excited to keep things moving in the village of Potsdam." During the same meeting, the board approved a bid from T.J. Fiacco Construction LLC for the Brooks Street Construction Project, based on a recommendation from the project's landscape architect. "Fiacco's base bid with contingency and alternates 1 and 2 total $272,400 and is within the Village of Potsdam's project budget," according to the resolution accepting the bid. The Northern Border Regional Commission will provide a grant of up to $279,968 to help fund the project, according to the resolution, which noted that the total development and construction costs are projected to be $377,050.
