In a significant move to bolster local governments, New York State Senator Pete Harckham has announced a substantial increase in Aid and Incentives for Municipalities (AIM) funding within the FY2024-2025 State Budget. The announcement marks a notable 9.75% increase from the previous year, totaling an additional $362,836, which brings the funding for Senate District 40 (SD40) to $4,084,738.
Particularly noteworthy is the funding allocated to the City of Peekskill, which will receive $2,477,102—an 11.61% increase amounting to $257,718 more than the last budget. This allocation is part of a broader state budget that earmarks $758.1 million for the AIM program, up by $43.4 million. This year’s uplift is the first since the program’s funding was set at about $715 million annually since the FY2011-2012.
Senator Harckham expressed his satisfaction with the increase, emphasizing that it provides local governments with greater financial flexibility amidst rising operational costs. “This record-high funding is a meaningful benchmark that will benefit our residents in many ways and ease some of the burden from our taxpayers,” he remarked.
Echoing these sentiments, Peekskill Mayor Vivian McKenzie highlighted the significance of the funding, noting its impact on the city’s ability to pursue civic improvements without increasing taxes. “Having this source of unrestricted funding available will give us some flexibility in spending on important projects,” McKenzie stated.
The distribution of AIM funds extends beyond Peekskill, benefiting 13 towns and six villages in SD 40, with each entity receiving increases of approximately 7%. Among the notable recipients are the Town of Cortlandt and the Village of Ossining, receiving $202,702 and $216,573 respectively.
The AIM program, which was first introduced in the FY2006-2007 State Budget, consolidated several revenue-sharing initiatives into a single, streamlined program aimed at supporting municipalities comprehensively. Despite the financial strains of the Great Recession which reduced AIM funding, this year’s budget reflects a renewed commitment to supporting local governance and infrastructure.
Town of Cortlandt Supervisor Dr. Richard Becker expressed gratitude towards Senator Harckham for his continued advocacy and support, which has been pivotal in securing these critical funds. “This ongoing support will assist us in our efforts to provide vital services to residents,” Dr. Becker acknowledged.
As the State of New York continues to navigate post-pandemic economic challenges, the increase in AIM funding is poised to play a crucial role in enabling municipalities across Senate District 40 to maintain and enhance essential services and infrastructure projects, thereby promoting community well-being and economic stability.