The Belmont Team, led by Mayor Ron Belmont, made history last year, thanks to responsible financial leadership. While keeping tax rates steady for taxpayers, and staying within the tax increase cap, they managed to raise Harrison’s credit rates to stellar AAA status. That’s the highest credit rating for Harrison in recent history. Mayor Belmont, and the Belmont Team, also lead seven successive Harrison budget adoptions, sustained a healthy reserve fund of city capital, and maintained and/or enhanced the Town’s basic municipal services.
No wonder Moody’s awarded Harrison a coveted Aaa rating.
Why is a AAA credit rating important? Harrison’s Aaa credit rating will save the Town approximately $580,000 in interest payments over the life of a recent bond issuance from 2018. But Mayor Ron Belmont is not just ensuring that the town’s finances are on solid footing. He, with the support of Belmont Team members Fred Sciliano and Jackie Greer, has also made some wise, future-forward financial investments that will pave the way for more prosperity. The town’s master plan has been updated, for example, and it envisions a complete repurposing of the Interstate 287 corridor, or the Platinum Mile. The Belmont plan will provide residential development, combined with new retail development to keep fueling the local economy and attracting more businesses to invest here in Harrison.
All of those initiatives will, in turn, preserve and strengthen the local tax base, to continue the Belmont Team’s commitment to fiscal health, responsibility, and progress. The proof is in the pudding, because already the team’s development strategy has resulted in valuable capital improvements to Harrison’s critical infrastructure, while generating new revenues from a variety of ongoing projects. All of that boosts the overall economic prosperity, creates good local jobs, and enhances the already wonderful quality of life that makes Harrison such a great place to live, work, and raise a family.