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Greenport hires expert help to borrow wisely

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GREENPORT — In the hope of having fewer fiscal balls in the air, the town has hired a financial advisor.

After a short presentation by Jeanine Rogers Caruso, president of Fiscal Advisors & Marketing, Inc., councilmen agreed to hire the firm to provide services in connection with bonding Phase II of the water improvement project.

Under consideration is floating a bond anticipation note (BAN) for the $2.6 million project, as well as renewing the BAN for Phase I.

Cost to the town for Fiscal Advisors’ services for a bond issue is a flat fee of $7,800; for BANs, probably over $4,000.

Ms. Caruso told the board her firm will make sure all i’s are dotted and t’s crossed on the maze of paperwork needed to issue a bond; and that working through an advisor will give the town a “much wider market access” in a time when financial institutions are shying away from municipal bond issues.

Phase II of the water project will replace aging infrastructure in the Lorenz Park area and elsewhere.

In other business at the meeting Wednesday, June 1, the Town Board:

* Hired Heather Rowley as part-time (10 hours per week) police clerk, to replace Kim Coons, who is resigning

* Voted to renew its agreement with Columbia County for trash pickup in the Refuse District at the current cost of $84,500 per year and $101 per ton

* Heard Councilman Thomas Fleming object to the switch from selling $1 garbage bags to selling $1 stickers, with users to buy their own bags. He said users will buy cheap bags, which will result in garbage being “strewn all over town.”

Town Clerk Sharon Zempko responded that the bags the town had been selling were themselves of poor quality. As to Councilman Fleming’s fear that users will put the stickers on too-large bags (they are meant for the 13-gallon size) thus increasing the town’s tonnage cost, Supervisor Edward Nabozny promised that “we will monitor the situation”

*Heard Mr. Nabozny announce a meeting at the Town Hall at 7 p.m. Thursday, June 30 to begin planning the town’s 175th Anniversary celebration

* Heard West Meadows resident Mary Hallenbeck’s fears for the safety of kids in her neighborhood playing basketball in the road. Mr. Nabozny said that as long as the hoop itself is beside, not in, the road, “we have no recourse”

* Heard Police Chief Kevin Marchetto commend local Boy Scouts for picking up trash on Healy Boulevard while his department provided traffic control. 

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