Local mayors: Budgets are balanced, finances sound

NORWALK - The mayors of Norwalk and Stratford and the First Selectman of Greenwich are each looking toward Washington to stabilize the economy during the financial crisis of late.

Despite the chaos on Wall Street, the local officials say their budgets are balanced. In the past year, they have all worked to save money and control expenditures.

?It gets better when Washington acts,? says Norwalk Mayor Richard Moccia. ?We have to stabilize first and then we can reinvigorate the economy with some incentives, but the stabilization is most important.?

Though officials have shored up southwestern Connecticut budgets and are waiting for Washington to step up and find a solution to the market crash, Greenwich First Selectmen Peter Tesei says the affects of the downward spiral can be felt. There is a lack of building permits being handed out for renovations.

?With this economic downturn ? are people going to be undertaking renovation projects or new construction?? Tesei asks. ?If they don?t, it will impact the town in terms of less revenue in that area.?

Main Street scrimps and saves

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