| County |
Town of Penfield |
| Contact person |
Channing Philbrick, Supervisor, 716-377-8600 |
| Case descriptions |
Case 10: State Revolving Fund |
| Forms of restructuring |
intermunicipal cooperation - cooperation investment of funds |
| Specific services affected |
funding for public works projects throughout the state is provided from an investment pool of the towns' municipal bonds. The pool lowers risk and administration costs, which in turn lowers the interest rate for loans made from the pool to municipalities |
| Year started |
1994 |
| Partners |
all of the towns that pool their bonds |
| Primary goal |
to lower the cost of financing for public works |
| Barriers |
the administrative and legal burden of the application process required to access the funds |
| Benefits |
substantial savings |
| Impact on budget |
save money |
| Impact on labor |
time is spent by Town staff on applications; also creates investment in Minority and Women Owned Business Enterprises (M/WBE) |
| Key contact |
Mark DiFrancesco, Superintendent of Sewers, 716-377-8639 |
