City Council:
AN ORDINANCE AUTHORIZING THE REVIEW,
EVALUATION, AND FURTHER DEVELOPMENT
OF A PROPOSED EARLY RETIREMENT OR
SEPARATION PLAN AND LONG-RANGE FINANCIAL
PLAN FOR THE CITY OF MOUNT VERNON, IN
COOPERATION WITH CAPITAL MARKETS ADVISORS, LLC
Whereas, in correspondence dated September 4, 2026, the Comptroller formally requested authorization for the appropriate City officials, in cooperation with the Office of the Mayor, the City’s Municipal Advisor, Capital Markets Advisors, LLC, and such other professional advisors as may be authorized by the City, to continue the review, analysis, and evaluation of the draft Early Retirement or Separation Plan, which shall collectively be known as the “Early Retirement or Separation Plan and Long-Range Financial Plan Review Ordinance”; and
Whereas, the City of Mount Vernon (the “City”), through the Office of the Mayor and appropriate City departments and officials, has been working in cooperation with Capital Markets Advisors, LLC (“CMA”), the City’s Municipal Advisor, on two special financial and operational planning initiatives designed to evaluate the City’s fiscal condition, workforce structure, long-term financial sustainability, and opportunities for responsible cost management; and
Whereas, the first initiative consists of a proposed Early Retirement or Separation Plan (the “Separation Plan”), which has been developed in draft form for review and consideration by the City; and
Whereas, in connection with the development of the proposed Separation Plan, CMA analyzed substantial City workforce and financial data, including staffing within the City’s governmental and administrative departments, as well as the Police and Fire Departments; and
Whereas, CMA evaluated various potential options for the Separation Plan, including financial payouts based upon years of service and other incentives or inducements intended to encourage eligible employees to retire or separate from City service; and
Whereas, the analysis also con...
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