Facing budget shortfall due to COVID-19, City of Buffalo will borrow $18 million

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BUFFALO, N.Y. (WIVB) – The City of Buffalo is trying to close the budget deficit any way it can- even if it means borrowing money.

The city comptroller says Buffalo is facing an $18 million budget shortfall due to COVID-19.

On Thursday, the Buffalo Common Council held an emergency meeting to approve a resolution to borrow that money to make up the difference.

Councilman Rasheed Wyatt says this is the city’s only option to recover.

He said that the decision made Thursday will set up the city for financial success in the future.

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