The Redevelopment Finance Committee held its first meeting on January 10 and began figuring out what information it needed to collect as it moves forward.##M:[more]##
According to Councilman Charles Morgan, who is also a member of the committee, the committee discussed “getting the rating agency standards for what a fiscally prudent project would entail.”
In addition to this, the committee also decided it was going to circulate the questions that township residents gave to Hillier, and also that it will collect some financial data from other redevelopment projects to “show how those have succeeded without imposing a burden on taxpayers,” Morgan said.
Morgan said discussions at the January 24 meeting (held as The News was going to press) would center around the need to include the ERA (Economics Research Associates) management team of professionals in an upcoming meeting to go through the company’s numbers. The company conducted a fiscal and financial analysis of the redevelopment scenarios proposed by RJM Hillier. Since the analysis was released, the community has debated whether that data was credible.
“One of the jobs of this committee is to satisfy ourselves on this issue,” Morgan said.
