The Highland Park Town Council, as well as its various committees, has spent plenty of time this summer discussing a strategy to fund capital improvement projects for the next five years. Basically, there’s not enough money to fund everything that needs to be done to the infrastructure and elsewhere, even with an expected increase in property values.
The latest committee to take its hacks will be the Administrative Committee, which meets at 8 a.m. Wednesday in the executive conference room at Town Hall. They’ll be vetting recommendations from the Finance and Audit Committee, which suggested earlier this month that the town consider issuing debt to fund some projects.
This would be a significant step, of course, because HP hasn’t borrowed money in 30 years. But the recommendations from the finance committee point out that it’s also a fairly low-risk method of funding given the favorable market for interest rates and the likelihood of the town receiving a high bond rating.
At any rate, the town council is scheduled to consider the committee recommendations at an upcoming meeting, so stay tuned.