Albany is set to receive $5 million in grants from New York's Financial Restructuring Board. But, the catch is that it's a one-time proposition. Geoff Redick explains.
ALBANY, N.Y. -- Mayor Kathy Sheehan wants the state to pay Albany $12-million per year for the next five years.
Sheehan made her pitch before the Joint Legislative Budget Hearing Wednesday along with other state mayors.
On Tuesday, the city found out it will receive $5 million this year from the state's Financial Restructuring Board.
But Sheehan said Albany needs more, because taxes are so high.
"We've made significant cuts. We are investing in technology to try to reduce those expenses further, but when you look at the numbers, the number that keeps coming back to fill that gap is $12-million and that number has not changed dramatically at all over the past several years," said Albany Mayor Kathy Sheehan.
There are plans for new development, such as the Harriman Campus and the convention center.
The aim for Albany will be to develop those sites, create a better tax base and eventually not have to relay on state aid.