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Residents press supervisors on firehouse loan options; board weighs interest-only, prepayment and parcel sales
Summary
At a Gloucester County town hall, residents asked whether supervisors favor minimizing annual taxpayer payments or total loan cost for a proposed firehouse. Supervisors said they are evaluating interest-only early years, prepayment options and may use proceeds from seven parcels to reduce long-term debt.
At a March 30 Gloucester County town hall, resident Matthew Nash asked whether individual supervisors prioritize the county’s long-term cost or the immediate annual taxpayer impact when financing a planned firehouse. Supervisors answered that both concerns are being weighed as the board considers loan structures and contingency planning.
Dr. Leming told the audience the board is "looking at every option," including interest-only payments for the first years to reduce near-term pressure…
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