Presiding Officer Judy Jacobs (D-Woodbury) and the majority of the Nassau County Legislature announced this week the appointment of Mark D. Young to the position of director of finance and budgeting and Arimax Financial Advisors, as chief financial advisors to the legislature. Arimax will serve as consultants in developing a short and long-term financial recovery plan for the county.

Mr. Young, a former assistant director of finance for the New York City Council, was selected after an exhaustive search, according to Jacobs. Mr. Young comes to the Nassau County legislature with a wealth of experience in municipal finance and a specialty in the areas of police and fire; corrections; probation; juvenile justice; and city planning.

"We are thrilled to have the opportunity to bring in someone with such an extensive background in the area of public safety," Jacobs said. Mr. Young's experience with New York City's police department and department of corrections, two areas sorely in need of budgetary oversight here in Nassau, made him a particularly impressive candidate."

Mr. Young's salary will be $90,000 a year.

Jacobs said the substantial undertaking of developing the short and long term plan will be headed by Steven J. Kantor, president and manager of Arimax Financial Advisors, whose sole focus over the first two months will be to work with bond rating agencies, State Comptroller Carl McCall, County Comptroller Fred Parola and the legislature's Independent Budget Review Director Tim Sullivan to develop a fiscal recovery plan for FY2000.

"Mr. Kantor's tenure as treasurer of the Municipal Assistance Corporation for the City of New York, highlights his extensive experience in rescuing governments in fiscal crisis," Legislator Lisanne Altmann said. "As chief financial officer he was instrumental in bringing the city out of its worst financial crisis in history."

"After months of interviews with experts on municipal finance and budgeting from around the country, we have reached an agreement with Arimax to begin developing a short and long term plan for the county," Jacobs added.

Arimax will be working with the legislature on a consulting basis.