Borough will need to borrow

MILFORD — Councilman James Price said Monday that Milford Borough will need to take a loan out immediately. A shortfall of some $80,000 in budgeted revenues resulted from unpaid current property taxes, unpaid delinquent taxes and a “stand-still” in the real estate market, he said. Unlike the tax anticipation notes which Pike municipalities often draw on in the spring after new tax billing, this loan would cover expenses in the 2009 budget. Real estate transfer tax shortfalls have been a big problem, running at 20 percent of last year’s revenues. “We’ve had at least one month, with no transfer tax revenues at all. Sales were at a stand still,” he said. Price, who chairs the council’s finance committee, said borough revenues vary from season to season, so the amount of the loan needed is as yet uncertain. Price warned that the shortfall will continue to be a problem next year. “We’ve got big things to fund - services, and 500 taxable lots. You either have to have a big tax increase or reduce services,” he said. Borough Council Vice-President Robert “Bo” Fean said the council authorized Treasurer Greg Myer to contract for the loan, which he estimated would be about $75,000. Fean said the council has not gotten into decisions about next year’s budget, public input on the revenue problem would be the main factor in how it goes. “We’ll bring it to the public. If they want to continue leaf collection and clean streets and parks - 24 hour police protection, we’ll go from there. If not, we’ll have to cut services,” he said. Sandwiching signs In unrelated business, the council scheduled a November meeting review of ordinance changes that would allow permitted use of sidewalk and easel signs not currently allowed in the historic business district. These signs have been in use since the council decided to amend the ordinance. “We’re ignoring them,” Council President Matt Osterberg said when asked if the prohibition has been dropped. Solicitor John Klemeyer said a separate easel sign ordinance would be drawn, so the borough could avoid zoning arguments of a sign’s “pre-existing use,” should the easel use be dropped in future. Minor corresponding changes would also be made in the zoning ordinance. The measure could be completed in December.