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Long IslandNassau

NIFA approves $100 million in bonds for public works projects

Members of the Nassau County Interim Finance Authority,

Members of the Nassau County Interim Finance Authority, led by Chairman John Kaiman, center, hold their meeting at the Marriott Long Island Hotel in Uniondale on March 23, 2015. Credit: Daniel Goodrich

Nassau's financial control board Monday night authorized the county to issue $100 million in bonds to finance dozens of public works projects including upgrading the county's Family Court building, roadway improvements and purchasing new snow-removal equipment.

The Nassau Interim Finance Authority, a state-appointed board that monitors the county's finances, voted unanimously to allow the bonding at a meeting in Uniondale.

The approval was $32 million less than what the county initially sought, with NIFA officials urging the county to prioritize from a list of more than 80 projects previously approved by the county legislature.

"We tend to like to look through it and see if we can tighten it up a little bit so that it's a bit more rational or in line with what the county has available to it," NIFA chairman Jon Kaiman said after the meeting, referring to the bonding proposal.

Brian Nevin, a spokesman for County Executive Edward Mangano, did not comment on NIFA's general reduction of the county's initial request, but he said, "The capital funding will allow the county to improve local infrastructure, including roadways, while preserving health, safety and welfare for our residents."

With five of seven NIFA members present at the meeting, the board also unanimously approved, separately, $40 million in bonds for sewer upgrades and some $5.2 million to pay county employees who left their jobs as part of a voluntary severance program.

All of the bonds are expected to be issued by early May, NIFA officials said.

County officials initially sought NIFA's approval to bond $60 million to fund property tax reimbursements owed to property owners who successfully appealed their assessments in court, and another $8.5 million in bonds to pay for employee termination. But the requests were withdrawn by NIFA officials at the start of the meeting because they had not been approved by the county legislature.

NIFA also approved spending of up to $9.7 million to strengthen the seawall along West Shore Road in Mill Neck as part of $65 million in public works spending.

The projects were all previously approved by the county legislature but required NIFA approval.

The West Shore Road project calls for installing steel sheeting to prevent erosion along the roadway that was heavily flooded and damaged after superstorm Sandy.

Also approved was a $16 million contract between the county's Department of Public Works and the Plainview-based firm RJ/Scalamandre for improvements at the Bay Park Sewage Treatment Plant.

NIFA also approved a $15.2 million contract for Farmingdale-based contractor Posillico Civil Inc. for improvements at the Cedar Creek Water Pollution Control Plant.


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