Council approves $20.6M bond issuance amid Binghamton Plaza concerns

A pivotal discussion on the future of Binghamton's infrastructure took center stage at the City Council Business Meeting on February 26, 2025, as council members debated a significant bond authorization. The proposed issuance of bonds not to exceed $20,636,000 aims to fund various projects, including the much-needed repaving of the Ross Park Zoo parking lot and the demolition of Binghamton Plaza.

Council member concerns were raised regarding the Binghamton Plaza project, particularly about the lack of a clear vision and finalized plans. One member expressed apprehension, stating, "I still believe that this is putting the cart in front of the horse," emphasizing the need to prioritize the maintenance of existing businesses and employment within the plaza. This sentiment reflects broader worries about the financial implications of multiple large capital projects currently on the table.

The meeting also highlighted the recent implementation of an occupancy tax, which was introduced to generate additional revenue for covering new debts. While some council members acknowledged the necessity of infrastructure improvements, they questioned the financial strategy behind simultaneously pursuing several major projects, including upgrades to the flood wall and sewer systems.

As the council moved forward with the bond authorization, the discussions underscored the balancing act between necessary improvements and fiscal responsibility. The outcome of this bond issuance will likely shape Binghamton's infrastructure landscape and financial health in the coming years.