posted on August 02, 2012 07:18
The City of Batavia is on a better financial footing.
Moody’s Investors service has upgraded the city’s rating from A-2 to A-1.
City Manager Jason Molino said the bond rating improvement lowers the city’s cost of borrowing money.
The city’s bond rating was downgraded seven years ago in the midst operating deficits, negative fund balances and excessive delinquent property taxes.
Batavia’s Lyon Street Bridge will be replaced.
The Ways and Means Committee of the county legislature has approved the local share of the $1.7-million project.
That local share, to be paid for with sales tax revenue,is $332,000.
The bridge was on a state list of the most dangerous bridges in Genesee County.
Governor Cuomo has signed a bill allowing insurers to compete to provide health care coverage for retirees of Eastman Kodak. The new law requires insurers to receive state approval to offer coverage for retirees of the company that is currently working its way through bankruptcy court.
Monroe County Executive Maggie Brooks is bringing in the heavy hitters in her run for Congress. House Speaker John Boehner will come to Rochester this Saturday to raise money for his fellow Republican Brooks, who is trying to unseat Democratic incumbent Congresswoman Louise Slaughter this November.
Construction has begun on a multi-million dollar redesign of the Seneca Buffalo Creek Casino in downtown Buffalo. The $130-million project is expected to take 15 months and will end with a casino featuring 800 slot machines and 15 table games at the corner of Michigan Avenue and Perry Street. The new building will replace the current temporary metal building that has housed the casino since 2007. The project was initially supposed to feature a 22-story casino hotel but was ultimately scaled down for a variety of reasons.