Letter to the Editor: Fox Point Village Finances
Resident Bob Cory says the footbridge only puts a burden on the debt service status.
Not long ago, the Village of Fox Point built a new police station. Perhaps even over-built it! The village has contributed its share of funds toward the Bayside combined dispatch center. The village regularly purchases new equipment and vehicles giving us a DPW fleet unmatched in the state.
And the list goes on.
I am sure that the village has a long wish list of capitol improvement projects it would like to undertake. Most of those projects are necessary to the operation and upkeep of village utilities, roads etc.
As the village borrows funds for these projects our debt load increases steadily.
At what point does this dept service experience an "overload" capacity? Does out borrowing strength diminish? Does our bonding status lower?
To borrow funds for non-critical projects like the Ravine Drive Walk Bridge only puts an added burden on out debt service status.
Then the question arises: What happens when a serious need for funding arises and we are hard pressed to secure the necessary money toward the continued operation of the village and its infrastructure?
The tab for the "new" bridge now approaches $2 million dollars. It is said that broken down, that is a very small annual burden on each property tax payer. No matter. It is a dangerous burden on the village purse!
Where does it stop? What is next?