Delving Into Mayor Kraham’s $108M Budget Proposal For Binghamton’s Growth

On Monday, September 16th, 2024 the City of Binghamton 2025 Budget address was presented by Mayor Jared M. Kraham.

The presentation revealed a $108 million spending plan including major investments in public safety, infrastructure, housing, and parks.

During the budget address, it was announced that several major infrastructure projects will break ground next year. They include a $9.5 million project to transform the area around Mirabito Stadium, plus a $4.4 million second phase to create a more walkable arts district downtown.

Other plans in the works include a $4 million project to improve Main Street, focusing on pedestrian safety at 20 intersections between Front Street and Floral Avenue.

After years of work to move Binghamton forward, we’re seeing results – a growing local economy that’s creating opportunities for residents, stronger neighborhoods with rising property values and less blight, and some of the lowest crime rates on record. But there’s more work left to do, and we can’t take our foot off the gas pedal now. The 2025 Budget invests in the critical services and transformative projects residents deserve while making smart fiscal decisions that protect taxpayers even as prices rise nationally. -  City of Binghamton Mayor Jared M. Kraham

Binghamton Mayor Kraham spoke about housing projects that are currently in progress or will begin in 2025 as a commitment to support new and needed development in the city.

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For homeowners in the City of Binghamton, the 2025 Budget includes a tax rate increase of 0.9 percent. For the complete budget address, visit the City of Binghamton website.

According to the City of Binghamton press release, highlights of the 2025 budget address included:

• Investments in public safety, including funding to bring the Police Department back to full staffing, continue foot and bike patrols, and support the technology and resources that help solve and prevent crimes
• Funding for the design of a new fire station on the North Side to replace the 64-year-old station on W. State Street
• $21 million in infrastructure upgrades across Binghamton
• Investments in new housing, home repair assistance for seniors, and support for first-time homebuyers
• $3.8 million for City parks and recreation, including funding to support programming at the new City-run youth recreation center on Hawley Street, expected to open next year
• $468,000 to support blight removal in neighborhoods across Binghamton
• Investments in green infrastructure, including the installation of 42 electric vehicle charging stations throughout the City and upgrades to make City Hall more energy-efficient