The Town Of Delmar Breaks The Bank!

In a move that will go on the record books for the state of Maryland, the Town of Delmar did the most fiscally responsible move ever witnessed in the state of Maryland.

Bursting at the seams, the Town of Delmar Offices are shared by Delmar, Maryland and Delmar, Delaware. Converting bathrooms to storage units, closets turned into Offices, the tiny building they are currently in has become far too small.

When opportunity came knocking and the Bank of Delmar mentioned they were building a new Bank on Rt. 13, Delmar jumped at the opportunity to purchase the old Bank as well as all the land that went with it. Downtown Parking is a major issue right now and with this purchase they can add quite a bit of additional parking. The old Town Hall and the new Town Hall are all within the same lot and now they'll own both.

So here's the catch. When it came time to vote last night on the actual purchase, they were torn about how to go about it. The purchase of the old Bank and all of the property along with it was only $375,000.00. In order to make the facility ADA compliant, they'd need an additional $125,000.00 and the Bank of Delmar stated they'd be happy to float them a loan for the total, $500,000.00 over 10 years at 5% interest, amortised over 30 years.

Pretty sweet deal, eh. Well guess what, it gets better. Since the Town of Delmar, Maryland is actually making the purchase, the Town of Delmar, DE. committed to paying 40% of everything. They'd pay 40% of the loan and improvements, including interest as well as 40% of the upkeep of the property. Perfectly fair in my book.

So when the Town of Delmar, Maryland realized they had $2,500,000.00 in the Bank, rather than going to the State or the Bank of Delmar to BORROW MONEY, they actually chose to PAY CASH for their share of the building costs, leaving them in an equity PLUS situation, rather than leaving the Taxpayers on the hook for the next 10 years!

Commissioner Carl Anderton said, "It feels really good to know I was able to serve my community and I feel really good about the decision we made tonight." All Commissioners present last night unanimously voted to pay CASH for this purchase and my hat is absolutely 100% tipped to these fine men and women who actually set a brand new EXAMPLE for the rest of the Municipalities throughout the state of Maryland.

It was a fortunate position to be in, having additional funds in the Bank to pay for such a purchase and not burden the taxpayers any more then they have already been burdened in the recent past. While they look at their neighbor, Salisbury, Maryland, the threat of jobs being lost because they borrowed far too much money and didn't plan for a recession, let alone a depression, Delmar, Maryland Employees will be perfectly secure and you have to appreciate these Commissioners for acting so fiscally responsible.

As for the now "old City Hall" there's a possibility it may become the next Police Department. The current Police Department was the old Public Works building and quite frankly, it's a mess. There's no commitment from the DPD to relocate there but I for one would have to say it would be a major step in the right direction if they did in fact choose to make the move. Again, it is paid for and would also be fiscally responsible.

So while NO other Press was around last night, you'll only read about this unbelievable move right here on Salisbury News. To the residents of Delmar, Maryland. If I were you, I'd call City Hall today and THANK your representatives and tell them how PROUD you are of these fine men and women. They have not only balanced the books in your Town, they have purchased a new facility in a growing Town and did so without having to borrow a penny. Well, not on the Maryland side, anyway. Congratulations Delmar!