$2.6M In Bond Ordinances For Freehold Roads, Other Projects

Freehold NJ

16 June, 2021

5:38 PM

Description

FREEHOLD, NJ - The Freehold Borough Council has adopted three bond ordinances totaling $2.6 million for road works and other improvements. According to municipal documents, the three bond ordinances authorize the issuance of $2.02 million in bonds to help finance the improvements. All three were adopted during a June 7 meeting. Here is a breakdown of where the money is going: Bond Ordinance 1: $1.8 million for road improvements for Stokes Street and Ford Avenue, including $305,000 expected in grant funding from the New Jersey Department of Transportation and $173,158 also expected from the Monmouth County Community Development Block Grant Program. $63,842 will be put down by the borough as a down payment. Bond Ordinance 2: $600,000 for the acquisition of capital equipment and authorize the issuance of $571,000 in bonds or notes. A $29,000 down payment will cover the remainder of the costs. The equipment to be acquired includes portable radios for police, portable radios and air packs for the local fire department, a dump truck as well as playground, signage and park equipment. Bond Ordinance 3: $200,000 for water-sewer utility improvements and related equipment. A $10,000 down payment will cover the remaining costs. Improvements include a new roof at the Browne Avenue pump station, grinders for the Court Street and Browne Avenue pump stations, a generator for the Dogwood Lane pump station, electrical upgrades and pumps at the Patriots Point pump station and manhole relining, according to meeting documents.