(Atlantic) Department heads and engineers explained the 4.585 million dollar capital improvement plan for 2012-2013 to the Atlantic City Council Wednesday night. In the plan, $3.4 million dollars will be spent on streets, and $633,817 is budgeted for the Park and REC Department. The improvements will come at a cost for city property tax payers.
“We don’t have the final figures, however, this might add about .12-cents to the tax rate but we don’t have everything in,” stated City Administrator Doug Harris. “We could be looking in the neighborhood of a tax rate increase of 2-percent and this is bonded at about a third of that increase.”
The proposed street improvements and other capital projects would require the issuance of $3.9 million in general operating bonds this spring. The lion’s share of the bond funds would go toward improving the backlog of deficient streets.
Harris says, “There is some thought knowing that we need to catch up with this backlog of streets. But we understand these difficult times and people can’t afford it, and we can’t catch up with everything all at once, so we have to try and do it modestly without putting undo pressure on the tax rate. The goal is to keep the tax below what it was in 2005.”
In addition the bond issue will fund $400,000 in park improvements and $100,000 in building improvements.
The City Council approved the list of street improvements in October. Wednesday night they gave the go ahead to advertise for bids for the 2012/2013 Capital Improvement Projects.
January 19, 2012
6:00 a.m. news