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Greensburg finalizes $1 million loan that will be dedicated to public safety

Greensburg officers this week finalized a $1 million mortgage that may bolster funds devoted to public security that historically got here from the now-closed J. Edward Hutchinson Parking Storage.

Council members unanimously authorized an ordinance associated to the virtually $1.1 million mortgage.

“We want we didn’t need to do it, however shedding the income from the parking storage makes {that a} necessity,” mentioned Councilman Randy Finfrock, director of accounts and finance. “We needed to substitute the funds one way or the other.”

The approval will result in an extra 1-mill cost for metropolis residents, or between $20 and $25 per home-owner. That cost can be listed individually on tax statements so future administrations can’t use the cash for gadgets aside from public security.

Metropolis officers first discussed the loan in November after deciding to close the parking garage, a decades-old deteriorating facility hooked up to Excela Well being Westmoreland Hospital. The parking storage generated about $140,000 the 12 months earlier than the pandemic. That cash was earmarked to purchase police automobiles and firetrucks.

A decade in the past, the storage generated $250,000 per 12 months.

The mortgage will now be used to maintain cash flowing into the capital fund used for public security. These funds can be used to buy a brand new police car every year over the following 5 years, and one firetruck. Finfrock famous {that a} police car and firetruck could possibly be bought this 12 months; nonetheless, plans haven’t been finalized.

Mayor Robert Bell in December famous that funds can be utilized just for automobiles, not different tools.

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Income from the 1-mill cost, which is predicted to whole $125,000, can be used to repay the mortgage.

Wayne Gerhold, bond counsel for town, is finalizing the mortgage. Town may obtain the cash by March 21, Finfrock mentioned.

“That’s the goal date, so anytime after March we’ll be capable of use that $1 million,” Finfrock mentioned.

Megan Tomasic is a Tribune-Evaluation workers author. You may contact Megan at 724-850-1203, mtomasic@triblive.com or through Twitter .

Source : triblive.com/

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