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Press Releases

Mark C. Poloncarz, Comptroller
01/09/08
POLONCARZ RELEASES COUNTY GRANT TO BUFFALO ZOO

Erie County Comptroller Provides $4 Million Check to Zoo for Rainforest Exhibit
Cash Advance on 2007 Bonded Project Available for Release

Erie County Comptroller Mark C. Poloncarz today personally delivered to the Buffalo Zoological Gardens ("Buffalo Zoo") a check from Erie County ("County") in the amount of four million dollars ($4 million), the County's final portion of its pledged grant announced in 2002 as part of a larger multi-million dollar capital program by the Zoo.

Poloncarz stated: "I am pleased to be able to personally deliver to the Buffalo Zoo a $4 million check representing the County's commitment to the Zoo for its construction of its Rainforest Exhibit. On behalf of the County, I thank the Zoo's management, board and patrons for their patience in regards to the unfortunate delay in releasing this check which resulted from the prior stalemate between the County and the Erie County Fiscal Stability Authority ("ECFSA") associated with the County's 2007 capital borrowing."

The Comptroller's release of the cash advance against the capital project is possible following the County and ECFSA's resolution of the 2007 capital borrowing through the issuance of mirror bonds.

The County's $4 million contribution to the Rainforest Exhibit follows the County's provision of a $3.25 million grant for the Zoo's River Sea Lion/Otter Exhibit in 2003.

In the coming weeks, following requests by the Collins Administration, the County Comptroller expects to release additional available cash as cash advances for 2007 County capital projects, to enable these projects to move forward. Projects that this office expects to cash advance on include the Ralph Wilson Stadium scoreboard, Correctional Facility roof, Botanical Gardens improvements, and highway and bridge projects.