Separate from the borough general fund that pays for police, the local contribution for schools, the Nolan Center, recreation programs and other public services, the borough maintains three accounts dedicated to industrial and residential development.
The combined balance of the three accounts could total about $2.3 million by the end of the fiscal year next June 30, assuming expenses and planned land sale revenues come in as expected.
All three funds date back to the 1990s and are focused on making borough property available for private development. The funds use revenues from land sales to c...
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