Jul 26, 2014
72°
Mostly Cloudy

Kaiman to Head Nassau Fiscal Control Board

Gov. Cuomo taps outgoing North Hempstead supervisor, two others to seats on state fiscal control board.

Kaiman to Head Nassau Fiscal Control Board
Jon Kaiman will be heading up a second state-run agency – the one overseeing Nassau County's finances.

The outgoing North Hempstead town supervisor will be formally stepping down on Monday morning to  assume a state position as special Long Island adviser with the  New York Rising Community Reconstruction Program.

In addition, Gov. Andrew Cuomo has tapped Kaiman to also head up the seven-member  Nassau Interim Finance Authority, the state control board overseeing the county's finances, replacing outgoing chairman Ronald Stack, according to a Newsday report.

Kaiman's new state advisory position comes with a $150,000 a year salary. The NIFA position is unpaid.

Stack was appointed a NIFA member in 2000 by then-Gov. George Pataki, a Republican, before becoming chairman. His term expired on Dec. 31, 2012.

In a statement released Wednesday night, Stack said that "I informed Governor Cuomo early this year that I thought it appropriate that a successor be named. I have enjoyed working with my NIFA colleagues in helping Nassau County in moving towards fiscal stability and wish them well."

Not all Nassau politicians were happy with the change, however.

"In my opinion, is a travesty to lose not only Mr. Stack's leadership on this board, but his institutional knowledge of the County and his expertise," Legis. Judi Jacobs, D-Woodbury, said in a statement. "To replace him, while in the middle of debating the 2014 budget and other critical financial decisions which are looming, absolutely makes no sense. I certainly have the respect for Jon Kaiman's leadership but NIFA needs the continuity and historical background which Mr. Stack offers, especially at this critical time."

The NIFA board has oversight over the county finances after it issued a control period in January 2011. Nassau subsequently sued the board over the takeover, but ended up dropping its case.

Cuomo also appointed investment broker Paul Annunziato, a Republican from Mill Neck, and developer Lester Petracca of Manhasset, to fill two vacancies on the fiscal control board. The new NIFA board consists entirely of appointees by Gov. Cuomo. Banker John Buran was appointed to the board in 2012.

Don’t miss updates from Patch!