City of Dunkirk May Be Left Financing Debts on Its Own

With efforts to extend the City of Dunkirk Fiscal Recovery Act having failed, it appears the city will have to find a way to finance its debts on its own. The law that allowed the city to issue up to $18.5 million in deficit bonds expired at the end of 2025. Two members of the Dunkirk Common Council spoke about the issue on WDOE's "Viewpoint" program on Tuesday. Third Ward Councilman Gary Frederickson says there's a concern if the city decides to sell bonds because of its poor rating...

Gary Frederickson: We're going to be paying more money back.

First Ward Councilwoman Natalie Luczkowiak noted that the city's "payment" is a reduction in state aid. She adds that the city still owes $4 million to the New York State & Local Retirement System, adding that Mayor Kate Wdowiasz and her administration are looking to build a repayment plan there...

Natalie Luczkowiak: We would like a loan with a smaller interest rate.

Frederickson believes the failure to pass an extension of the Fiscal Recovery Act was due to a lack of communication between the city and state officials.

Click here to listen to the entire "Viewpoint" interview featuring Natalie Luczkowiak and Gary Frederickson.

Photo by Greg Larson