Land Trust Fund

 

This week: the borough’s land trust fund. It was a bit of a political football last year. Sitting with around $7.5 million, there was some interest in using that account to fund education or balance the borough budget or both. Those efforts from borough administration failed to get past the assembly.

 


 

What to do with the nearly $8 million dollars in the borough’s land trust fund was a central question this year as the borough budget was being put together. The mayor’s office wanted to use a portion to help fill the borough’s budget gap, but, the assembly wanted to see a fresh investment plan before the fund was used for general expenditures. That plan has been finalized, and will get a public hearing next week.

 


 

The stage continues to be set for a debate over the borough budget. Mayor Charlie Pierce introduced an ordinance recently that he says would balance the borough’s $4 milion budget gap and when the assembly meets in Seward next week, it will take up an amendment to that ordinance.