Tuesday, August 06, 2013

How to Save $845,000 by Borrowing $850,000

Jim Broughal's game face
How do you save $845,000 by borrowing $850,000? By getting a good interest rate, and refinancing another $13 million in debt. That's what Bethlehem Township Commissioners considered at their August 5 meeting. According to Lafayette Ambassador Bank, the Township can borrow $850,000 and actually save $845,000 in debt service over 14 years by refinancing some of its existing debt at a lower rate.

The Township plans to use this found money to finance repairs and maintenance of their sewer system.

Commissioners authorized the execution of a commitment letter, but must take another vote on a borrowing ordinance at their next meeting. "You're really not going to pull the trigger until the [August 17] meeting," advised Solicitor Jim Broughal.

In other business, two projects in Lehigh Valley Industrial Park VI, located between William Penn Highway and Freemansburg Avenue, received a green light.

Coordinated Health Care is building a 3-story, 49,100-square-foot medical offices building on Emrick Boulevard, immediately south of the Outback Steakhouse. It will include 42 exam rooms and medical offices, with a 214-space parking lot. Construction is expected to start in September.

Luxury Lane, an Easton outerwear distributor, is building a 1-story, 43,200 sq ft warehouse, close to the municipal park. Developer Jim Gentile expects that the $2 million facility, which will employ about 20 people, should be finished by March.

6 comments:

Anonymous said...

"That's what Bethlehem Township Commissioners considered at their August 8 meeting."

Time traveling now Bernie? Might as well clue us in on the Powerball numbers as well.

Anonymous said...

That's just the face Jim makes when he's figuring out where else he can suck off the public teet.

Anonymous said...

Jim has been filling his pockets for Years from city, twps etc....smart man..LMAO

Bernie O'Hare said...

7:36. I corrected my error.

Bernie O'Hare said...

8:57 & 9:58, I get that you don't like Broughal. He also happens to be the best municipal solicitor I've ever seen, and it's a shame he won't consider working for the County. Why do you take these personal shots without telling us who you are? Ashamed?

Anonymous said...

Thank God they have got some professional assistant.
Imagine what those clowns might do without his advice.
What patience this man has to work with those commissioners!