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Moody's Boosts Harrison's Bond Rating To AAA, Saving Taxpayers Interest

Harrison Mayor Ron Belmont announced in his latest letter to the community that the town/village's rating has been upgraded to Aaa (Triple A) by Moody's Investors Service.
Harrison Mayor Ron Belmont announced in his latest letter to the community that the town/village's rating has been upgraded to Aaa (Triple A) by Moody's Investors Service. Photo Credit: File photo

HARRISON, N.Y. -- The following is a letter from Harrison Mayor Ron Belmont to the community:

As 2016 comes to an end, we have wonderful things to celebrate in Harrison!

Moody’s Investors Service has announced that it has upgraded Harrison to a rating of Aaa (Triple A), the highest attainable rating offered and a first for the town/village.

The rating report indicates that Harrison has a healthy financial position supported by conservative budgetary management, a sizeable and affluent tax base with ongoing commercial and residential development, a continued growth in reserve with strong budgetary flexibility, very strong liquidity levels, strong budgetary performance and a manageable debt burden with an average pension liability.

The current outlook reflects the expectation of continued, strong financial performance and stability in the local economy.

Upgrades in bond ratings can boost the town/village’s ability to borrow money. And that can help lower interest rates and, ultimately, bonding costs associated with capital improvements.

In another sign that Harrison is on the upswing, a Wegmans has been proposed for “the Platinum Mile.”

The supermarket chain has signed an agreement with Normandy Real Estate to buy a 20-acre site on Corporate Park Drive.

Wegmans, which is based in upstate Gates, has 92 stores in upstate New York, and also in Pennsylvania, New Jersey, Maryland, Massachusetts and Virginia.

(To read a previous Daily Voice story about the Wegmans project, click here. )

The Harrison project includes a 125,000-square-foot store on the current site of a vacant office complex.

This reflects the importance of repurposing outdated buildings.

The key benefit of repositioning existing properties is that new uses will bring energy and income to our community. This new retail use will serve to enhance our municipality and I believe we are on the right path for the future.

The town/village's website has a new format that will allow residents to more easily access information on everything from board meetings to applying for building permits to signing up for recreation programs.

The familiar links are still there, but users can now search past meeting minutes and agendas for items of interest. Department heads will regularly add new content to the site, which will continue to evolve.

To visit the updated site, click here.

Members of the Jewish community are now celebrating Hanukkah.

(The holiday started on Saturday, Dec. 24, and ends on Sunday, Jan. 1)

This holiday pays tribute to the resilient spirit of the Jewish people. The message of Hanukkah serves as an example to us all that, when we stand together, we can conquer any problem and overcome any setback.

It is my hope that the Festival of Lights offers comfort to all and encourages not only our nation, but our cities, towns and villages to draw together and celebrate the bonds of community.

On behalf of the entire Town Board, I wish all Harrison residents and their families a very Merry Christmas and Happy Hanukkah.

May the spirit of this joy filled time of year be with you and your loved ones throughout the holiday season.

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