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Township Council should set priority on school project
(by HRANT H. YOUSOUFIAN - October 30, 2008)
We now have a new mayor and Township Council wherein the mayor has promised "transparency" in governance. No definition of "transparency" has been offered and any change over the past is not yet apparent.
Consider the following:
The previous Board of School Estimate (BSE) of which three of five members were the (elected) mayor and two councilors, approved construction of a $35 million school building. A bond is not yet secured and may carry a rate of 6 percent interest over 20 years. As such, the first payment of interest alone would be $2.1 million based on uniform annual payments of interest and principal. Does the new BSE and the administration need to review this – urgently?
Contrast this with two unrelated issues brought up recently:
- A gap in the income to break even at Clary Anderson Arena.
- A shortfall in funds to maintain the Presby Gardens, in spite of the work undertaken by a group of very dedicated volunteers.
These latter two items are in need of some tens of thousands of dollars. So far, these latter two items have received more attention by the mayor and council than the $35 million new school project.
What should the priority be?
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