Buffalo, N.Y. (WBEN) - In what is becoming a familiar scenario, efforts by Buffalo leaders to borrow - or sell bonds - to help finance capital projects has once again pitted City Comptroller Barbara Miller-Williams against the Common Council and the Mayor's Office.
In the latest potential financial standoff, Mayor Sean Ryan is asking the Common Council to allow the Buffalo Fiscal Stability Authority - aka the "control board" to sell $20.06 million in bonds that will help trigger emergency repairs at more than 15 city-owned buildings.
By going through the BFSA, it would fast track securing the funds and at lower interest rates than if the city went to the bond market by itself.
This marks the first time since 2007, Buffalo has asked the BFSA to issue bonds on its behalf.
"These aren't sexy projects but they need to get done," said Fred Floss, BFSA interim chairman. "Waiting is going to cost a lot more money."
Still, Miller-Williams questions why Ryan is asking the council to approve a "Declaration of Need" - a legal move that would allow the BFSA to go to the bond market on Buffalo's behalf.
The council is expected to formally vote on Ryan's reques at its Oct. 27 meeting. The council's Finance Committee spent more than 90 minutes Tuesday morning reviewing the request.
Miller-Williams said she only heard about the potential deal by reading an Oct. 8 public filing.
The proposal "raises significant concerns regarding its costs, structure, timing and potential impact on the city's finances," Miller-Williams wrote in an email to Ryan, obtained by WBEN.
Miller-Williams is asking for more, detailed information.
Deputy Mayor Ben Swanekamp said more information will be relayed to Miller-Williams.
Using the BFSA to bond certain projects "is a fantastic tool for us,'" Swnaekamp said.
"Using the BFSA will help us get these projects done," Swnaekamp said.
Much of the work centers on roof repairs, demolitions and tank replacements.
Work related to the obsolete and aging Broadway Barns is not part of the package but will be addressed later as will the city's 2027 capital projects list," Swanekamp said.
Tensions between Miller-Williams and the council and mayor's office date back more than two years when the comptroller refused to issue bonds for the 2024 capital projects list.
Then-acting Mayor Chris Scanlon (now South District Councilman) and Fillmore District Mitch Nowakowski sued Miller-Williams and have won several legal rounds against the comptroller. Miller-Williams continues to appeal the rulings.
The city comptroller has questions about the financial pushback from the deal
The city comptroller has questions about the financial pushback from the deal
