Oktoberfest; Bond Rating Rises: Sleepy Hollow Mayor's Message

from Sleepy Hollow Mayor Ken Wray

Two significant and encouraging actions for our village’s future were announced last week by Moody’s Investor Services and the MidHudson Regional Development Council of NYState.

If you missed the announcement at Tuesday night’s Board of Trustees meeting, you can read about the two actions here.

The first is that Moody’s bond rating for Sleepy Hollow was upgraded. From Moody’s:

The upgrade to Aa3 from A1 reflects the village's sound and improving financial position supported by conservative budgeting and growth in building permit revenue and growing tax base supported by development activity and the village's favorable location 25 miles north of New York City. The rating also incorporates moderate debt and pension burdens and above average fixed costs.

The upgrade offers significant savings as we bond for major capital projects.

The second: Mid-Hudson Regional Economic Council recognized Sleepy Hollow for taking bold steps to realize its potential as a place of employment, a place to live, and a place for visitors. Naming Sleepy Hollow a “Priority Project” opens new funding streams from the state for comprehensive economic development in the village. We have been working toward this for a number of years and here is a milestone we are very proud of reaching.

The takeaway: Our ideas, plans and achievements for the future of Sleepy Hollow have been noted and endorsed. Please join me in recognizing the Board of Trustees, the Local Development Corporation and the Village staff as we move forward.

Lastly, I hope to see many of you (and the kids) in Kingsland Park this Saturday, September 29 from 1:00 to 5:00. Oktoberfest is a great community event, one not to miss.

Mayor Ken Wray