Together, those enhanced taxes make up about 20 percent of the city’s general fund revenues.
But as a result, Chief Deputy Controller Bill Leinberger said Thursday, the so-called AMBAC debt grew from about $13 million after the infusion of cash from the parking garage deal in December 2013, to more than $26.6 million in September 2021.— agreed-to by Papenfuse and a Williams-led city councli in the midst of their mayoral race — that shaved about $3.3 million off of that cost.
The city’s reserves now stand at about $16.7 million, a good level for a city with a $70 million operating budget, said Accounting Manager Bryan McCutcheon. That’s money, Williams noted Thursday, the city will be able to use in the future to help pull down condemned buildings to pave the way for revitalization projects and to make needed replacements to the city’s fleet of trash and recycling vehicles.Harrisburg residents aren’t likely to see a cut in the city’s 2 percent wage tax anytime soon. The parking garages and street meters will be in private hands for decades.
Some of that money has already been used to replace the heating and air conditioning systems on the city’s public safety building, and to pay one-time $5,000 bonuses to Harrisburg’s police officers and firefighters.
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