Township May Borrow $6 Million For Infrastructure Repairs, Park Improvements
Discussion at Monday night's Haverford Township Commissioners work session centered on uses for a $6 million bond the township may secure.
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A $6 million bond, which the township will likely use to pay for park improvements and emergency infrastructure improvements in 2012, was the main topic of discussion at Monday night's Haverford Township Commissioners' work session.
Some of the bond funds will go towards obligatory immediate improvements, but others could be used for less immediate needs or improvements the township would like to make, Township Manager Larry Gentile said.
The $6 million number was devised by estimating:
- $1.5 million for Naylors Run sanitary improvements caused by Hurricane Irene damage. "That's a must," Gentile said.
- $2 million for park improvements, of which $500,000 would be committed immediately. "With just Paddock Park alone, it's a quarter million to make those repairs," Gentile said.
- $2 million for the township road program, which is done every other year.
- A few hundred thousand dollars for storm repairs that needs to be made, and for others that have been made and will be reimbursed.
The $6 million does not include funds for improvements at Juniper and Meadowbrook, as the township is hoping to receive a mitigation grant from FEMA for damages caused during Hurricane Irene. The grant application calls for $6 million worth of work alone in the Juniper/Meadowbrook area.
If the grant is not approved—which the township could wait one to two years to find out—the township could take a much less aggressive course of action and repair damages for approximately $1.5 million, Gentile said.
Second Ward Commissioner Mario Oliva initially questioned the decision to borrow money to pay for improvements that are not absolutely necessary, such as the $2 million in park improvements.
Gentile noted that the township is not locked into using the funds for park improvements or other purposes, but park improvements are one of the projects the township would like to undertake.
And with an interest rate between 1.5 and 3 percent, it makes sense to borrow now while money is cheap, Sixth Ward Commissioner Larry Holmes said.
"Money has never been cheaper—we're not going to find cheaper labor and more hunger in the construction business than in this economy," Holmes said. "… We're not talking about luxuries … we're talking about capital expenditures we as a board already know we need to do. … We have serious infrastructure issues in our township and if there was a time to do it, it's (now)."
The money could be available as soon as April 1, if at next week's regular meeting, commissioners select an underwriter and pass an ordinance to advertise a special meeting. The commissioners have already passed a resolution to ensure that any money the township spends on improvements before the bond funds are received will be immediately reimbursed.
Brendan Kelly
2:43 pm on Tuesday, February 7, 2012
"Hey, we are broke but it was on sale for %50 off, so I had to get it". Sounds familiar. Other than the Naylors Run work, everything else is unnecessary. everyone is for it until they open up next years property tax bill. That never goes down, especially here in Haverford. I thought this township was mostly republican? I guess not these commissioners.
Jim
2:47 pm on Tuesday, February 7, 2012
Who is going to be the bond backers.The taxpayers and property owners of Haverford township, thats who! How come the money is not in the General fund for the road improvements? You bunch of worms, you just raised our taxes, and now you don't have the money. Lets take it to a vote.
bigben
11:28 pm on Tuesday, February 7, 2012
Let em have it jimmy boy. You tell it like it is
Sam Smith
3:19 pm on Tuesday, February 7, 2012
Jim yes they did raise our taxes and I see from Dan Segal's website they hired two more police officers. They are so dumb hiring people and raising taxes at the same time. They must have 65 or so patrol officer's down there oh and buy the way they where 200 grand over budget last year along with EMS at 175K. Maybe I should sell my house and move into a park that's the place to be. Mr Holmes if you don't have the money to spend don't borrow it if you can't pay it back. I learned that in 7th grade. Disgusted is the word of the day....
Jim
4:14 pm on Tuesday, February 7, 2012
Sam, this board has never been financially responsible to there bosses, the property and business owners in Haverford township.This board of commissioners is a great example of a bunch of people, who think that a real estate scam, of there's, can some how benefit the taxpayer in Haverford township, when in fact it's lining there own pockets! The Bubble gum factory is a prime example of the corruption that goes on with this board.Another good example, is the Haverford State, real estate deal that the township had with Jeffery Rotwitt. It always been that way,a prime example, is when the zoning board gave there approval to knock down the Brookethorpe Mansion to make way for the Quadrangle.The Brookethorpe Mansion was built in 1685 by the Quakers in Haverford, a hundred years before the Revolution.Lower Merion brags about it's oldest Mansion House that was built in 1690.The money that's going to be barrowed,I doubt is going to br used to fix the parks and the roads.That's a scam!
bigben
11:32 pm on Tuesday, February 7, 2012
Why does it cost millions to fix a park? Lining the walkways with jewels? If people want to upgrade the park they should do it with their own toe hands and their head
bigben
11:39 pm on Tuesday, February 7, 2012
How about putting that money to fix the poor drainage on Tunbridge starting at the Cambridge intersection.
Jim
12:02 am on Wednesday, February 8, 2012
Yeah who was the hack that rebuilt that open brick storm sewer? Ray Charles.
George Jones III
11:41 am on Wednesday, February 8, 2012
I think we are in trouble. Watching the meeting on TV, it sounds like this will be part of a $17 million bond issue in 2013. We keep hearing how the township is saving money. Since 2009, expenditures have risen by $4.4 million. That is an increase of 14.3%, far out pacing the cost of living. The police alone are 8.8% despite losing the 911 dispatch. That was supposed to save $750,000. Parks & Rec up 69.3% Parks Mtce up 48.5% and still the manager gets a top of the line Ford with leather seats etc. When will it all end ?
Jim
12:11 pm on Wednesday, February 8, 2012
George we just hired 7 new police officers and there is a rumor 2 more are on there way,that would bring the grand total to 73.Does Haverford Township need 73 police officers at an average of 55 grand a year.They police department also bought a big vehicle a few years ago they call the rolling crime lab for over half a million dollars,that just collects rust in the police parking lot on Manoa Rd.The Motorcycles are also a half a million dollars in property owners tax money also.We also pay for 2 brand new vehicles for one person. He is the Brookline fire Chief and also double dips as the Deputy Police commissioner. John has a S.U.V. for his roll as fire chief and also has a S.U.V. for his role as deputy police commissioner. That's what I call a double of ice cream with two cherry's on top. We have a lot of double dippers.Judge Burke is a partner in a law firm in Havertown and is also the District Judge in Havertown as well,at a salary of 150.000 dollars a year for working 2 days a week.This is why the taxpayers in Haverford township taxes go up every year and we are always in trouble,by no fault of are own.
Sam Smith
12:13 pm on Wednesday, February 8, 2012
Not a clue I hope that bond has the money in it to pay the Fenimore's . The Twp manager has not done one thing that is cost effective not one. We still have to hire the people to run that luxury Recreation Center that is being built. DUMB DUMB DUMB.
Jim
12:36 pm on Wednesday, February 8, 2012
Sam, that's probably what this bond is about.To finance the Fenimore fiasco.How brillant a move it was for these commissioner,s to try and invoke the eminent domain law on the Fenimore family. How ironic is this situation Sam,when the Good Fenimore family employed people for decades who paid there taxes and spent there money in Havertown,to have this board,turn around, and give the WHY M.C.AA tax free status.The Why M.C.AA building is going to be a slap in the face to the taxpayer's in Haverford Township.
Sam Smith
3:58 pm on Wednesday, February 8, 2012
Jim, Oh and the donation banner to the YMCA is back up . Now that is a slap in the face to the taxpayers. When I drive by I just laugh at the lot , My bet is the Y will be built around 2014...I would really think Tim Denny is running Havertown with all this recreation we have going on. I like the parks the kids should have a nice place to go but this is pathetic.
Jim
5:22 pm on Wednesday, February 8, 2012
What recreation Sam, once the kid's in this township reach 12 years old, they have nothing to do.The commissioner's in this town would much rather have a cop write a yellow citition for disorderly coduct to a kid than spend the money needed for a youth progam.That why the teenagers hate the cops in this town Sam.