East Hampton Town has gotten permission from the state to continue to offer workers a voluntary early-retirement program next year and spread the cost of the incentive program over 10 years through special bonds.
Gov. Andrew M. Cuomo last week signed legislation authorizing the bond sales. It was needed because the town already borrowed $30 million to cover a deficit built up over four years.
The new bond authorization will allow the town to offer voluntary early retirement to workers in its budget for next year, according to town board member Dominick Stanzione. There is no specific limit on how much the town can borrow.
State Assemb. Fred W. Thiele, Jr. (I-Sag Harbor) said that the early retirement program would reduce the number of town employees, leading to lower town operating costs. He termed it the least disruptive alternative for the work force, some of whom could have faced layoffs.