Teddy Roosevelt famously said, A typical vice in American politics is the avoidance of saying anything real on real issues. I will resist this temptation as I provide an overview of Hammontons economic situation. I also will discuss the relevance of the economic plan presented by my running mates, Mike Ammirato, Jim Scarpato and Carmen Villani and myself.
After reviewing the 2006, 2007 and 2008 audit reports, I discovered some interesting statistics. It seems that construction permit fees went from $275,000 in 2006 to $185,677 and $128,000 in 2007 and 2008, respectively. The significance of these numbers is that permit activi ty is a gauge of economic activity in the town. Residents and businesses feel confident in their revenue and therefore, invest in their homes and facilities. The decline in permit revenue shows that Hammontons economic situation has been in a decline that began in 2007. This decline correlates roughly with the nations economic situation.
However, other issues make the situation more complicated. Each year, we borrowed more from our surplus to pay for operating expenses. Our general purpose debt when authorized and issued bonds are taken into account along with borrowing for Boyer Avenue Fields, at about $20,000,000 as opposed to $18,277,321 in 2006. Additionally, while Mayor and Council have touted their recent spending spree on projects such as the Town Hall, the Community Center at the Lake and possibly a satellite campus, we are still uncertain of the total cost of any of these projects. And in 2009, the Town enjoyed a large, one-time payment by the school district. Finally, in our bond rating report, concerns were raised about our financial controls. If20this spending and uncertainty continues, taxpayers will see taxes rise, sewer and road projects to be delayed and municipal services to diminish.
We obviously have some serious issues to face next year. My running mates and I are ready to confront these issues with real solutions. First, we will audit all current projects to determine affordability. Should the actual cost be too high, we will have the courage to reduce the projects scope. Second, we will ensure that all future project proposals are vetted and the total costs are known upfront. And we will choose only capital projects that create real value for citizens such as road and sewer repair. Next, we will forecast the municipal budget over three years so that we can anticipate future costs and adjust accordingly.
Finally, we will work to attract the 21st industries to Hammonton. While real estate development for its own sake may have brought revenue and jobs over the last five years, for the next twenty years, energy, health IT and agribusiness will be the economic drivers. The rateables that these industries bring will pay for capital improvements, stabilize our taxes and bring jobs and customers to Hammonton.
The choice is clear. Voters can choose to continue with a clear lack of planning and self-promotion based on the whims of the minute. Or we can choose leadership that has the ability, ideas and solutions to rise to the challenges that we face. So this November, lets vote for change that means something.
Joe Ingemi
Democratic Candidate for Mayor
-- Edited by Admin on Monday 31st of August 2009 03:50:42 PM
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RE: Town's futue financial picture is challenging, Dems ready to face the challenge
