HOLYOKE, Mass. (WWLP) – In Holyoke, Mayor Joshua Garcia will presented his state of the city address to city council Thursday evening, announcing his fiscal 2023 city budget.

Garcia announced that for the first time in more than a decade, the city budget has a surplus of more than $700,000.

In addition, the report highlights Holyoke’s financial situation, economic outlook, citizen involvement and response to homelessness.

Holyoke is on an economic upswing as it continues to see new growth and development. The city is also reporting an increase in property values. 22news spoke to Mayor Garcia about what this means for the future of Holyoke.

Mayor Joshua Garcia of Holyoke said, “That’s a healthy position to be in right now. We have a lot to celebrate but certainly there’s so much more to do in order for us to be sure that we’re setting a stronger foundation in how we’re mitigating quality of life issues and keeping up with those issues accordingly through our budget.”

The council will have 45 days to review and approve the city budget.