The new cost sparked the Township to provide another $200,000 in funds via a bond ordinance that is up for approval at Tuesday night's Township Committee meeting.
See agenda HERE.
Even though the pool is self-sustaining and uses no tax money, the township will provide the funding under a loan-type agreement, according to Township Administrator Joseph Manning.
He explained it in an email this way:
The $200,000 is in addition to what was previously expected for renovations. When the contractor started to remove the concrete decking it was discovered that what was suppose to be four inch decking was in many areas 12 inch decking and this cause a change order in the amount of $110,000. We added some additional funds so they were available in case any other change orders were needed.
The Township borrows for the pool capital project and the pool operating budget reimburses the principal and interest payments. So as long as the pool can cover these reimbursements and its other operating expenses, it is self-sustaining.
This follows the approval of a 30% increase in pool fees for this season, previously approved by the TC.
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