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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.
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6 comments:

  1. AnonymousAugust 6, 2013 at 7:36 AM

    "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.

    ReplyDelete
  2. AnonymousAugust 6, 2013 at 8:57 AM

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

    ReplyDelete
  3. AnonymousAugust 6, 2013 at 9:23 AM

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

    ReplyDelete
  4. Bernie O'HareAugust 6, 2013 at 9:58 AM

    7:36. I corrected my error.

    ReplyDelete
  5. Bernie O'HareAugust 6, 2013 at 10:01 AM

    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?

    ReplyDelete
  6. AnonymousAugust 7, 2013 at 9:37 AM

    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!

    ReplyDelete

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