City of Albany COVID Recovery Task Force - ALBANY LEADS - MAYOR KATHY SHEEHAN MICHAEL WHALEN, CO-CHAIR
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
City of Albany COVID Recovery Task Force
ALBANY LEADS
M AYO R K AT H Y S H E E H A N
MICHAEL WHALEN, CO-CHAIR JA H K E E N H O K E , C O - C H A I R
Agenda
• Introductions (15 minutes)
• Why have our Co-Chairs said yes? (5 minutes)
• Why are we here? (10 minutes)
• Funding overview (10 minutes)
• How can you help? (15 minutes)
• Homework & housekeeping (10 minutes)
2
Introductions
Kaweeda Adams Albany City Schools
Faye Andrews City of Albany Community Development Agency
Dorcey Applyrs Chief City Auditor
Kate Baker Small Business Administration
Alfredo Balarin Albany Common Councilmember
Carm Basile Capital District Transportation Authority
Bob Belber ASM Global/Times Union Center
Neena Bland Albany Community Action Partnership
Tricia Brown North Atlantic States Regional Council of Carpenters
Jeff Buell Redburn Development
Michael Castellana SEFCU
Chiquita D'Arbeau Albany Housing Authority
Mark Eagan Capital Region Chamber
Corey Ellis Common Council President
Sonia Frederick Albany Common Councilmember
Anthony Gaddy Upstate New York Black Chamber of Commerce
Peter Gannon United Way of the Greater Capital Region
Tammis Groft Albany Institute of History and Art
3
Jahkeen Hoke Business for Good Foundation
Introductions Kevin Hicks Albany County Airport Authority Micky Jimenez Capital District Latinos Andrew Joyce Albany County Legislature Chairman Anna Kuwabara Albany Symphony Eileen Larabee Open Space Institute Angelo Maddox Fresh & Fly Clothing Daniel McCoy Albany County Executive Dennis McKenna Albany Medical Center Tracy Metzger TL Metzger & Associates, LLC Matthew Peter Albany Parking Authority Dominick Purnomo Yono's/DP's Roger Ramsammy Hudson Valley Community College Sarah Reginelli Capitalize Albany Jahmel Robinson Albany Common Councilmember Havidán Rodriguez SUNY, University at Albany Darius Shahinfar City of Albany Treasurer Kathy Sheehan Mayor, City of Albany Noelene Smith Baby Institute Georgette Steffens Downtown Albany BID Raphael Tucker City of Albany Youth & Workforce Services 4 Michael Whalen M&T Bank
Why have our Co-Chairs said yes?
Michael Whalen Jahkeen Hoke
Administrative VP CEO
M&T Bank Business for Good
Foundation 5Why are we here?
Obtain a shared understanding of how the American Rescue Plan can help the City of
Albany
Identify the needs of the City of Albany residents, businesses, and non-profit
organizations that cannot be covered by other funding sources
Equitably and strategically maximize resources available to our residents,
businesses, and community organizations to restart Albany and build back better
Engage every sector of the City of Albany to ensure we get resources where they are
needed to restart Albany, re-open businesses, prevent evictions, and strengthen our
not-for-profit organizations
6Various Funding Resources
Funding Source Total Awarded
Save Our Stages $15 Billion
Restaurants $25 Billion
Back Rent Relief $50 Billion
PPP $478 Million*
CARES Act Funding $5+ Million*
* City of Albany-specific 7PPP Loans – City of Albany
Total Funding # of Loans Average Loan Size Jobs Supported
Loans over
$461,146,313 789 $585,211 42,168
$150,000
Loans under
$17,594,760 1,516 $11,606 3,315
$150,000
City of Albany
$478,741,073 2,305 $207,696 45,483
Total
8American Rescue Plan
City of Albany Other Local Entities
Entity Allocation Entity Allocation
City of Troy $45.6M
City of Albany $85,282,416 City of Schenectady $57.8M
City of Utica $63.9M
City of Syracuse $126.1M
State of New York City of Rochester $206.8M
City of Buffalo $350M
Name Allocation Albany County $59M
CDTA $51.7M
New York State $12.6B
Albany School District $46.6M9Use of Funds
10City of Albany Fiscal Needs
Based off Prior Year Revenue (Per Bill Language)
Revenue Category 2020 Projected 2021 Forecast 2022 Forecast 2023 Forecast 2024 Forecast Grand Total
Property Tax $ - $ - $ (2,641,067) $ (2,641,067) $ (2,641,067) $ (7,923,200)
Other PILOTs $ (1,305,890) $ (998,196) $ (499,098) $ (249,549) $ (124,775) $ (3,177,507)
Sales Tax $ (2,538,124) $ (2,538,124) $ (1,269,062) $ (634,531) $ (317,266) $ (7,297,108)
State Aid $ (2,740,183) $ (2,798,145) $ - $ - $ - $ (5,538,327)
Capital City Funding $ (1,200,000) $ - $ - $ - $ - $ (1,200,000)
Departmental Income $ (2,559,887) $ (2,029,476) $ (1,160,517) $ (743,317) $ (557,487) $ (7,050,683)
Landfill $ (1,766,154) $ (4,853,454) $ (4,853,454) $ (4,853,454) $ (4,853,454) $ (21,179,970)
All Other $ (3,168,829) $ (620,989) $ (465,742) $ (349,307) $ (261,980) $ (4,866,847)
Total $ (15,279,066) $ (13,838,385) $ (10,888,940) $ (9,471,224) $ (8,756,028) $ (58,233,643)
11How can you help? • You each are here because your expertise, background, and the constituencies you serve have been affected by COVID • You are representative of the broader sector you represent • Your organization and your collective wisdom can help contribute to the long-term vitality and success of the City of Albany by investing to recover from COVID and build back better 12
Sectors Currently Represented
• Arts & Entertainment
• Banking
• Child Care
• Economic Development
• Education
• Government
• Health & Human Services
• Housing
• Restaurants & other Small Businesses
• Workforce Development
WHO ARE WE MISSING? 13Proposed Timeline
April May June July TBD
2021 2021 2021 2021
14Homework for next meeting
• Think about the constituencies in the City of Albany
• Who has been historically disadvantaged and left
behind because of systemic barriers created
outside of those constituencies’ control?
• How can this funding help remove those
barriers?
• Think about your organization’s current short- and
long-term plans
• How can the City of Albany help support those
missions?
15Housekeeping Send 1 Paragraph Bio if you have not already done so Public Announcement of the Task Force Best Day of Week for Future Meetings • Will send Doodle Poll Other Suggestions/Input 16
You can also read
