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Lake Como Introduces CAP Rate Ordinance on First Reading
Summary
Ordinance 2025-5 (CAP Rate Ordinance) was introduced on first reading at the April 1 meeting and approved for introduction by unanimous roll call; specific CAP rates or fiscal impacts were not included in the minutes.
The Borough Council introduced Ordinance 2025-5, captioned as the 'CAP Rate Ordinance,' on first reading at its April 1 meeting. Councilman Douglas Witte moved to introduce and Councilman Nicholas DeMauro seconded; the roll call to introduce the ordinance was unanimous.
The minutes do not include the ordinance text, the proposed cap rate percentage(s), or an analysis of fiscal impact. As an introductory first-reading item, the ordinance will return for second reading and any required public hearing; specific numeric details should be sought in the ordinance packet published by Borough Hall.
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