Zecca: Utica Is On Its Way To Bankruptcy
Utica Councilman Jim Zecca thinks the city is headed toward bankruptcy.
Appearing on WIBX First News with Keeler in the Morning on Tuesday, Zecca and fellow Councilman Frank Vescera continue to express their push for furloughs as a way to save money.
Describing the city’s dire financial situation, Zecca said the city, ”is on its way to bankruptcy, there’s no doubt in my mind,” the budget a major crisis.
Mayor Rob Palmieri’s proposed budget calls for a 3.75 % tax increase, however there is some discussion about a higher tax hike, allowing the city put some money in its reserve fund in case of an emergency.
That fund is nearly depleted giving the city no ‘rainy day’ money to fall back on.
Here is the full discussion from Tuesday’s show: