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Website created to criticize handling of Oyster Bay's finances, 'Venditto's debt'

John Venditto is the 59th Supervisor of the

John Venditto is the 59th Supervisor of the Town of Oyster Bay. (Oct. 26, 2011) Photo Credit: Kevin P. Coughlin

The Democratic candidates for Oyster Bay offices in next month’s election Monday unveiled a website criticizing incumbent Supervisor John Venditto’s handling of the town’s troubled finances.

Www.VendittosDebt.com outlines what supervisor candidate John Capobianco described as “the harrowing depths of the town’s fiscal ditch.” He added the town “is mired in a severe fiscal crisis,” citing a report released last week by state Comptroller Thomas DiNapoli that placed the Oyster Bay seventh on the list of the state’s most fiscally stressed towns.

“Venditto has dug us $878 million in debt, raised our taxes a staggering 46 percent, and has presided over three bond downgrades in the last two years,” Capobianco said.

The incumbent Republican supervisor responded: “We acknowledge that the recent difficult economic times have taken their toll on our township as they have virtually everywhere else in the nation. However, as a result of various initiatives instituted by the town over the past year and half, including our helpful union concessions, discretionary cuts, a retirement incentive, and the recent $30 million land sale transaction, we are comfortably on the road to fiscal recovery.”

Venditto said “the debt being referred to is an investment in our infrastructure.”

The incumbent also said it’s important to note that town taxes represent about 10 percent of residents’ tax bill. He pointed out that Capobianco is a member of the school board in Farmingdale, where the taxes that make up two-thirds of the tax bill have risen much higher than the town’s.
 

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