Municipal Restructuring Fund to support innovative projects and reduce burden on taxpayers
Washington, D.C. – February 3, 2016 – (RealEstateRama) — Governor Cuomo today launched the Municipal Restructuring Fund – a new $25 million program to assist local government and school officials with developing transformative projects that will lead to property tax reductions for New Yorkers.
“Streamlining government and increasing efficiency is vital to making New York more affordable,” said Governor Cuomo. “This new initiative is just one of the ways we are helping local governments find new and innovative ways to cut costs and reduce burdens on taxpayers and look forward to see this new program benefit communities across the state.”
The MRF is a grant program funded through the 2015-16 state budget with a continuous recruitment process. Projects submitted through the program will be ranked as they are received based upon established criteria until funding is exhausted. Projects will be ranked by metrics that include potential impact across local governments, service delivery areas and municipal functions, and have potential for long-term property tax savings.
At the Governor’s direction, the MRF was developed by New York Secretary of State Cesar A. Perales and the New York Department of State’s Division of Local Government Services after consultation with local officials at roundtables held throughout the State, as well as at the Local Government Innovation Conference held in Albany last November.
“Throughout the State, local government officials asked us to think differently about how we provide funding for projects,” said Secretary Perales. “Based upon these recommendations, I believe we have done just that and designed a program that will invest in local leaders focused on driving innovation in municipal restructuring.”
“We know that local officials are the real entrepreneurs in delivering services to our citizens and we must invest in them as they push the limits of innovation,” said Deputy Secretary of State for Local Government Services Dierdre Scozzafava. “I am excited about this new program because it enables DOS to engage our partners early in the development process and help them design a project that meets their needs as well as State goals.”
DOS plans to identify local leaders with transformative ideas, help them define viable projects with likely financial and service delivery impacts, and invest in development plans and implementation processes that will test and refine plan assumptions.
The MRF joins a suite of programs offered by New York State to support local government efficiency, including the successful Local Government Efficiency Grant program, the Citizen’s Reorganization and Empowerment Grant program, the Citizen’s Empowerment Tax Credit and the Financial Restructuring Board for Local Governments. Through the MRF, DOS will aid local leaders in identifying, developing and implementing
Local governments interested in partnering with the Department of State on transformative restructuring programs should contact the Division of Local Government Services, at 518-473-3355 or click here.
Contact the Governor’s Press Office
Albany Press Office: 518.474.8418
NYC Press Office: 212.681.4640
Contact us by email:
press.office (at) exec.ny (dot) gov
