MAYVILLE – The Chautauqua County Legislature will consider offering assistance to a north county community facing serious financial hardship when it meets Wednesday night in Mayville. The village of Forestville is facing over a 440 percent tax increase, which would be necessary to help pay off loans that are due by the end of this year.
In order to help offset that increase, the County legislature will be considering a resolution that will help to ease some of that local tax increase.
Chatuauqua County Executive Vince Horrigan is joining Legislator George Borello (R-Irving) in sponsoring a resolution that would provide Forestville with $87,000. That money would be given to the village in exchange for 14 years worth of county landfill credits that have been designated to the municipality.
In addition, the county would also provide a bridge loan of $150,000 to the village at a rate of 2.5 percent, which will be used for its share of the inter-municipal water line project, to be repaid immediately upon the Village’s long term refinancing of the debt, but also no later than December 31, 2014.
As part of the deal, the county is also calling on the village to request the state comptrollers office to audit all of Forestville’s financial records for the past fie years. The village must also participate in a task force that will examine the viability of the Village as a continuing independent municipal entity, including consideration of the potential of dissolution.
Some lawmakers have voiced concern about the bailout and are expected to raise those concerns when the full legislature meets Wednesday night. The meeting begins t 6:30 pm and is open to the public.
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