Georgetown Voters Approve Referendum to Borrow Funds for New Police & Public Works Department
Image courtesy Town of Georgetown
Georgetown residents on Monday, approved a referendum that will allow the Mayor and Council to borrow up to $18-million to finance the construction of a new police station and public works building within the Town – and paying the costs of issuance of the Bonds. The referendum was passed with 183 votes for and 170 against. This will increase taxes. The Town estimates the increase to be about $17 per month or just over $200 annually.
To date – the land for the new facility on Route 404/18 & University Drive across from聽 Delaware Tech – has not been purchased. However with the passage of the referendum, that can now take place. The appraised value of the land, by an independent third-party appraiser, is $1,130,000. The payment will not be made from the borrowed funds and no cash will be spent from other Town funds on the land. According to the information presented during the public hearing on October 14, the Town will propose in-kind payment via exchange of fees to the property owner.
Image courtesy Town of Georgetown
