ALBANY – City Treasurer Kathy Sheehan officially announced her candidacy in next year's mayoral race on Saturday.

Sheehan, a Democrat who was elected treasurer in 2009, has long dropped hints about her planned mayoral run. On Saturday afternoon, in front of Washington Park's Moses Statue, she made it official.

"Let's face it, there is only one office in Albany that can deliver the changes many of us want," said Sheehan. "I am here to announce that I am running for mayor.

"It is time I use my experience to tackle the truly serious challenges that Albany really faces: poverty, inequality, disinvestment and inefficient city government." Mayor Jerry Jennings, 64, a five-term incumbent and fellow Democrat, has given no public statement on whether he will seek a sixth-term, though he has also given no indication that he won't seek reelection.

Before her turn as treasurer, Sheehan was a corporate attorney with the Latham tech firm Intermagnetics General Corp. In 2009, she defeated longtime treasurer incumbent, Betty Barnette. Sheehan raked in more votes in that year's Democratic primary than any other candidate for a citywide office, including Jennings.

That was her first bid for an elected office.

Sheehan said that her three main priorities as mayor would be creating economic opportunity, revitalizing neighborhoods and diminishing blight, and crafting a "fiscally sustainable" city government.

Corey Ellis, the 3rd Ward councilman who won 44 percent of the primary vote against Jennings in 2009, has also indicated plans for a second mayoral run. School board President Dan Egan has signified that he may consider candidacy, as well.