OYSTER BAY TOWN MUST PAY 14.6 MILLION DOLLARS WHICH CAN CAUSE TAX INCREASE FOR RESIDENTS
Oyster Bay, NY (May 19, 2016) – Town of Oyster Bay resident and President of Long Island Citizens for Good Government, Dr. Dean Hart, is warning residents in the Town of Oyster Bay to beware of rising taxes.
“It’s mathematically impossible at this point for taxes not to rise, said Hart, who cited $14.6 million that The Phoenix Companies, a financial lending company, is demanding that the town pay after guaranteeing loans made to indicted restaurateur Harendra Singh. “We are in worse fiscal shape than ever before.”
This announcement comes on the heels of Standard & Poor’s downgrading Oyster Bay Town’s credit rating to BB+, “junk status,” citing a decade of deficits and weak financial management from the local town government.
“Our organization is demanding that Supervisor John Venditto resign and hand over control of the town’s finances to an independent comptroller,” added Hart. “It’s a disgrace that Venditto hasn’t voluntarily resigned out of shame at this point.”
Additionally, Hart cited Venditto’s April 27th response that the “The problem rests squarely with me and therefore, the solution rests squarely with me as well,” when referring to the town’s financial woes, as being completely and utterly narcissistic.
“We are dealing with a narcissist that would make Emperor Nero blush,” concluded Hart. “How many more financial punches can Oyster Bay taxpayers take to the head from the current administration?”