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Manager outlines plan to subdivide borough land, budget a $120,000 Fund 17 transfer
Summary
The borough manager told the assembly that proceeds from the planned sale of Burrell land are tracked in Fund 17 and that the borough budgeted a conservative $120,000 transfer to the permit fund while survey work subdivides the property into two parcels; staff will return with sale and financing details.
Manager Fullerton explained how the borough accounts for proceeds from land sales and described next steps for the planned Burrell property subdivision and sale. “When we have income from selling bur land, we record it in fund 17,” Fullerton said, and the borough budgets transfers from Fund 17 into the permanent/permit fund.
Fullerton told the assembly the parcel is being subdivided into two lots and that the town is waiting for parcel numbers before putting the property on the market. The administration budgeted a conservative floor transfer of $120,000 this year, and Fullerton said some years hold cash in Fund 17 when development and revenue timing do not align.
Members pressed staff on the roughly $70,000 in projected expenses tied to the subdivision, and staff confirmed those costs include surveying and water-stub work to the property line; roads or final development by a buyer would be the purchaser’s responsibility. Fullerton also said the borough is exploring whether a financing vehicle could help buyers pay for utility stub-outs, with the borough acting as a lender rather than a developer.
On timing, staff said the small-tracks water-main extension begins May 29 with stub-outs planned, and that buyers could connect in the fall after on-site work is completed. The assembly asked staff to return with an itemized breakdown of Fund 17 expenses and to recommend how the assembly should advertise or structure the sale once parcel numbers are assigned.
The assembly took no formal vote; staff will follow up with a detailed report to the full body.
