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WBEN NewsRadio 930>Audio & Video on Demand>>Dealing With Huge Debt - Forestville Mayor Kevin Johnson

Dealing With Huge Debt - Forestville Mayor Kevin Johnson

Apr 8, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

Let's overlook the WB in line line and welcome our next guest he has the mayor of the village of forest -- New York you're in Western New York mayor Kevin Johnson. Mayor Johnson good morning thank you for joining us. You know most folks who aren't four protection -- Our throat and increase that amount to 23. Maybe 4% in extreme cases we've heard of 10%. But little village of forest -- something very unusual is going on tell our listeners and tell us about it. I'm sure. The village and in the year 2009. Had a demolition. That occurred I'm building collapsed in an entity for the safety -- debilitated. Them demolished building. And has the I mean is stuck with Connie -- You know bonded debt -- -- and -- -- it that way. On however bad year they decided that they weren't going to do there anymore and so. The village. And already taken -- figure out loan from the bank -- the demolition. And so now -- we've got a net that loan. In the course for the following years. -- I think a couple of different things we're trying to find the funding for that. That's 250000. Dollars. But debt would not successful and now the bill deal and in its entirety on nothing was ever paid down. On one net. Seen in default there was another. Note on another project that was. Due to be renewed and the bank because -- -- -- of the first -- they would they would not -- the second one. For 150000 dollars so now we're in default or 400000 dollars. Those are the two making factors that they're driving that. And and the bottom line -- mayors that the taxpayers in your village face a 445%. Village tax -- It's a one time one year I ordered to pay off these beast to -- owns and it's not a permanent. And tech site by any -- Mayor Johnson what are some of the folks in forceful saying about it. Com -- well I don't think anybody usually very happy about it. I'm I'm I'm the mayor but I'm output taxpayer. And I'm certainly trying to find the best way. To -- list. I think we we can maybe make it better but. It's it's still not going to be. You know very Clinton it's over Libya painful. Pick your pocketbook and. You know we expected it to grin and bear it I'm open minute PP yeah it's a -- Some help from somewhere but haven't really seen anything that it's going to be. Promising at this point. What -- hit is this to the average homeowner can you kind of help us understand us better what it would -- me because this translate. Well if you're normal tax -- they -- 50000 dollar house. -- near normal tax bill would be around 257. Dollars for the year comparability taxes. This year it will be around fourteen under which is a substantial increase. While it certainly is well. We'll check back with a assumed for an -- -- thank you for joining us this morning. Oh thank you that's the mayor of forest -- old York Kevin Johnson.

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