Mayor Madden Delivers 2020 State of the City Address
Touting four years of financial stability, neighborhood and infrastructure investment, and economic growth in the Collar City, Mayor Madden delivered his 5th State of the City Address on Wednesday, February 5, 2020.
Held at the newly-opened Loft 433 located atop the historic Hedley Building in downtown Troy, Mayor Madden highlighted major milestones and achievements in key areas, including neighborhood revitalization, rebuilding Troy’s water and sewer infrastructure, improving waterfront access, renewable energy initiatives, and critical upgrades and repairs to City-owned facilities. Mayor Madden outlined his continued optimism about the future of Troy while applauding the residents, businesses, and City staff who help propel the continued revitalization of the Collar City forward.
Key highlights of the address included:
- Four years of balanced budgets, improved bond ratings, and reduced fiscal stress scores
- Rising home values (6.3% increase over 2018), and shorter “time on market” (down 10% over 2018), indicating growing confidence in homeownership
- Substantial completion of the downtown Troy seawall project, a $24M infrastructure investment to protect businesses, properties, and the County sewer system
- Over $500M in private investment from new construction projects and local building permits
- Upgrades and repairs for Troy’s firehouses, including new roofs, lighting, windows, HVAC units, kitchen upgrades, plumbing, and foundation repair
- Several efforts to promote sustainability, including a 2.6 megawatt expansion of Troy’s solar array on the former landfill, installation of LED lighting in City-owned facilities, and other climate-smart initiatives to reduce Troy’s carbon footprint
- Major sewer and water infrastructure projects, including the relining of Sage Avenue and Campbell Avenue sewer lines, storm water diversion line beneath the Lansingburgh bike path, and planned replacement of transmission lines between the Tomhannock Reservoir and Troy’s water treatment plant
- Proposal to create a Lansingburgh Historic District to ensure the preservation of important historical properties in North Troy
- Completion of the Ingalls Avenue Boat Launch, and planned renovation of the 7th Avenue Park in North Central
- Finalized agreement to commence construction of the South Troy Industrial Park Road
Mayor Madden also announced plans to explore options for a permanent City Hall. The City will issue an RFQ seeking professional real estate services to begin assessing the City’s operational needs, square footage, and financial capacity.
The speech was broadcast via live webcast on the City’s official YouTube channel, part of the administration’s commitment to civic engagement and transparency using social media and other online tools.
A copy of the full State of the City Address presentation is available for download here: http://www.troyny.gov/wp-content/uploads/2020/02/State-of-the-City-2020-presentation.pdf
An archived video of the address is available here: www.youtube.com/watch?v=T0CD9vn6iUo