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!
11 comments:
Joe:
Face it, the Daily Times was fully deployed to cover your motion to throw that idiot's lawsuit against you out of court.
When its time to revamp the building lets hire some local contractors, we need the work.
Congratulations to the Town of Delmar! Finally a municipality with some fiscal sense. Perhaps they can give Salisbury, Wicomico County, and the State of Md a lesson in fiscal conservatism and accountability. Good luck with the project!
Way to go Delmar! This is an example of good fiscal responsibility and management, unlike that of some who would mortgage us for sixty years on projects that don't work, or for thirty years on projects that won't get off the ground, or allow developers to skate around million dollar reimbursement contracts, or approve multimillion dollar change orders on equipment and projects that got the low bid.
Good fiscal responsibility and management? Maybe, maybe not.
The town is staring down a multi MILLION dollar bill coming from upgrading the waste water treatment plant and they just not so long ago purchased land out on Foskey Lane which I was told would be for the new MULTI MILLION dollar police department building which some wanted to also be for the new town hall. Now they're buying yet another property in these economic times?
Maybe they didn't borrow the money now for this property but they'll have to borrow even more now to complete the upgrades to the treatment plant, probably at an even higher interest rate.
On top of this, the Maryland side, once again put the Delaware side into more debt without the input of the Delaware taxpayers.
When is THIS nonsense going to end?
When is the Delaware Mayor and Council going to stand up and say enough is enough?
aLL THE wastewater treatment upgrades are paid thru a grant. Delawrae side approved this through the budget process. Where was everyone when the budget workshope were taking place?? That would have been the time to voice any concern on where the money would be going.
12:45 You are WRONG!
ALL of the wastewater upgrade $'s are NOT grant money! Delmar has to pony up funds big time!
You really should get your facts straight.
Delaware couldn't have approved this sale through the budget process!
The budget was done effective July 1.
anonymous 4:27, rather than complaining about who's right or wrong, do tell everyone why you feel last nights decision was a wrong one.
Again, there is between $2.5 to $3.0 million in the Bank right now. No one ran to the state for grants to rob ALL the other taxpayers in Maryland.
They have the money, they spent it wisely and now you complain about WHAT, the WWTP. Best move I've ever seen in all my years.
12:11 4:27 A simple call to Town hall will show that the work being done at the WWTP is being paid for by grant money, the same grant money awarded to every plant that needs the same upgrades.
And yes if you look at the budget which is available at Town hall you will see the money was set aside for any loan payments. the sale was in fact approved at that time. Make a call before you type things that you know nothing about. Im glad no,thrilled that the MD council actually thought ahead and paid cash for this building instead of taking out a loan! I would have been very dissapointed at a loan payment with such a large surplus in hand. I dont live in Delaware so i dont know their sitation but I know before I type I get the facts. 12:11 4:27 maybe you should practice what you preach.
12:11 I haven't called but I don't believe the state of Md is doing 100% WWTP upgrades.
Fruitland should take note! They still plan on spending $$$$$$$$ on a totally unnecessary new town hall and police dept, paid for by already overburdened tax payers.
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