Spring Newsletter 2023
From The Mayor’s Desk, Mayor Jim Thomas (607) 936-3642
Greetings to all,
As we enjoy this mild winter weather, allow me to update you on the state of affairs in our village.
Our water system improvement project is now complete and consisted of the installation of over 20,000 feet of new water main pipe, well head improvements and construction of a filtration plant. To finance this project, the village was awarded a four-million-dollar grant and the balance was covered by a loan, resulting in a quarterly flat rate of $73.65/EDU to the customer. The financial team overseeing the water project advised the village on the amount to charge residents during construction, until the long-term loan was secured and the payment schedule was received. Their estimate was based on an interest rate higher than what was ultimately granted and locked-in. With the lower than anticipated rate received, the Village was able to cover the 2022 and February 2023 loan payments with funds remaining.
In an effort to return the benefit of the excess funds to residents that paid in those funds in the past two years, the Village reduced the project rate (PRJ on your bill) from $63.63, which was effective January 1, 2022, to $50.00, effective January 1, 2023, and will be recognized on your April 1, 2023 bill. Essentially, the Village will be billing out less than the actual cost of the annual loan payments, until the excess funds are drawn down. Once drawn down, the Village will adjust the water project rate to be in line with what needs to be collected to meet the annual loan payments. It is expected the adjustment increase will occur in approximately eight years.
Our wastewater improvement project is substantially complete and consisted of an ultra violet disinfection vault, new back-up generator, concrete repair to the oxidation ditch and upgrades to our influent pump station and system controls. A one-million-dollar grant provided the major funding for this project.
As a consequence of the property revaluation conducted by the Town of Corning Assessor’s Office in 2022, many Village residents experienced a significant increase in their property assessments. Consequently, an increase in County, Town and Schools taxes may have occurred. The Village of South Corning, through responsible budgeting, was able to lower its tax rate by 19% which minimized any possible Village tax increase.
The Board of Trustees and I will continue to seek available grant funding to keep our infrastructure and facilities in good repair.
James A. Thomas Sr., Mayor