Scranton Mayor Proposes $109 Million Budget For 2013; 12 Percent Tax Hike

Scranton Mayor Chris Doherty presented Thursday to city council a $109.6 million budget that contains a 12 percent real-estate tax hike.

Though formally proposed by the mayor, the budget had been prepared jointly by his administration and the council.  Cooperation between both sides on the budget proposal was a change from the prior two budgets that were marked by heated battles, council revisions, mayoral vetoes and council overrides of vetoes.

Read the Budget HERE

“This is the first step in our financial blueprint as we move the city forward, and I appreciate the cooperation of council,” Mr. Doherty said.

A precursor of the budget had been hashed out earlier this year during the mayor/council war over revising the city’s Act 47 recovery plan, which called for a 12 percent real estate tax hike on city residents and various other tax increases and/or new taxes, such as commuter and amusement taxes.

Read more:

http://thetimes-tribune.com/news/scranton-mayor-proposes-109-million-budget-for-2013-12-percent-tax-hike-1.1404066

Scranton’s Payday Hinges On Loan Closing

Scranton‘s next employee payday on Friday hinges on a loan closing on Thursday, city officials said.

Mayor Chris Doherty expressed confidence that the closing between the city and Amalgamated Bank of New York and Washington, D.C., would occur as scheduled Thursday and payroll would be made Friday.

“Everything seems to be on track” with the loan and payroll, Mr. Doherty said.

On Aug. 23, the mayor and council President Janet Evans announced the city had secured a $6.25 million tax-anticipation note loan from Amalgamated Bank, which bills itself as the largest union-owned bank in the country.

Read more: http://thetimes-tribune.com/news/scranton-s-payday-hinges-on-loan-closing-1.1365473