Mayor Stephen C. Acropolis presented the Township’s proposed 2010 Capital Budget to the Township Council at the March 9, 2010 meeting.  The proposed capital budget totals $16,600,000 and provides funds for infrastructure maintenance, parks, public safety and public works equipment and the development of Trader’s Cove.

 

“This year’s capital budget is a statement on what we value in Brick Township,” said Mayor Acropolis.  “It is a comprehensive plan to make our community cleaner, safer and a better place to live and raise a family.”

 

Improvements to recreational and park facilities represents the biggest component of the proposed capital budget.  The township has allocated $10,417,000 for projects including the development of Trader’s Cove, playground and equipment replacement and site improvement at Emma Havens Young School and Midstreams School and park facility upgrades to various area parks and Township owned facilities.

 

“The value of clean, safe parks and recreational facilities to a community cannot by underestimated,” said Council President Tony Matthews.  “They greatly improve the quality of life.  This was evident when we upgraded the Frede Drive and Arrowhead Parks last year.  This budget provides funds to do similar projects throughout the community.”

 

The proposed improvements to Trader’s Cove include the installation of vinyl sheet bulkhead and boardwalk, installation of lighting and the construction of a maintenance building, parking areas, decorative gazebo and tot lot area with safety surface in addition as well as several other improvement projects.

 

“By the end of this year, Trader’s Cove will look very different than it does today,” said Mayor Acropolis.  “There is going to be something for everyone there.  You will be able to go boating, launch a kayak, go crabbing and fishing, take children to the playground or sit on a bench and enjoy the bay.”

 

The Township has been awarded a $1,000,000 reimbursable grant for the development of Trader’s Cove from Green Acres.  This in addition to nearly $5,000,000 the Township has received from the State and Ocean County.

 

The proposed capital budget includes $3,400,000 for roadway and drainage improvement projects.  Areas slated to be improved included Thiele Road, Hollywood Manor, Lakewood Gardens, portions of Rivera Beach, Laurelton Park and portions of Glenwood Avenue and Glenwood Place.  The Township is also going to address chronic flooding issues on Island Drive and Island Court and reconfigure the entrance to the Brick Township Housing Authority. 

 

“Every year, we allocate money to improve township streets in need of repair.  This is one of the most important things we do,” said Mayor Acropolis.  “The costs to putting these projects off would far outweigh the costs to addressing these problems now.”

 

Several years ago, the Township created a street inventory where the condition of every street was graded and prioritized.  Every year, the Township sets aside funds to repair the streets according to the prioritized list.

 

$1,341,600 has been allocated for improvements to public buildings and grounds.  This includes funds for the replacement of windows at the municipal building and completion of the HVAC upgrade at the municipal building.  The Township received $675,000 in Federal funds for these projects as a reimbursable grant.

 

“We are working to make the municipal building a more energy efficient building which will translate into savings for taxpayers,” said Mayor Acropolis.  “This began last year with the installation of solar panels which will save about $100,000 a year.  These projects will add to those savings. ”

 

The proposed capital budget also includes $262,600 for police equipment and $147,800 for an ambulance for the Township EMS Squad and three (3) ATVs for beach patrol.

 

“One of our most important jobs is to make sure that our police have the resources they need to keep residents safe,” said Council President Matthews.  “You can’t put a price on public safety.”

 

The Township is retiring approximately $9,300,000 in principle and loan payable obligations this year.  The net effect of the proposed 2010 capital budget is an increase of approximately $6.5 million in the Township’s long term debt obligations.  With the proposed capital program, the Township’s total debt obligation is $113.4 million, which is about 25% of the Township’s allowable debt level of $448,500,000.

 

“With interest rates hovering around historic lows, it is advantageous for us to issue notes to pay for projects like this,” said Mayor Acropolis.  “Because of our solid credit rating, we were able to secure an interest rate of slightly more than ½ of one percent the last time we issued notes.  That is essentially borrowing for free and will stretch our taxpayer’s hard earned dollars further.  It’s common sense and smart fiscal policy.”

 

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