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[quote="Guest"]"Mr. Stannard said there are several possibilities for the property, including using it for parking or converting it into a freestanding library. If the township were to purchase the property, it could explore a few options for funding the acquisition, he said. For instance officials could include the purchase in its capital budget for 2008, paying off the borrowed money over time, Mr. Stannard said." I can't understand why we want to add to our debt and borrow more money for property that is clearly an impulse buy. It is no different than buying a pack of gum on a checkout line - it's right in front of it, we do not need it, but we want it.[/quote]
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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Cranbury Conservative</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Apr 25 2008, 2:40 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Agreed! We need the Township committee to hold the line on any discretionary spending. It's one thing to fund the Police, School and so on. However there is no need to waste money on a private building located in the middle of the towns shopping / restaurant district. The only way to change things is to vote out the existing tax and spend members of the Township Committee and replace them with members who are financially conservative! Perhaps we need better representation from another party. The majority of the Township Committee is Liberal tax and spend Democrats!</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Apr 25 2008, 2:00 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">What interests me is how some voters were fooled last election. They claimed Mr. Stannard was not one of those TC members looking to spend money and that he could not be blamed for the prior TC expenses. As soon as he's relected he becomes one of the supporters for spending or looking to spend more money that we don't have at this point. In 2009 when the next big election comes up I hope we remember the TC's spending and vote for new blood who look out for our wallets and financial stability.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>who?</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Apr 25 2008, 1:20 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">I want to know which TC members besides Mr. Stannard are pushing to buy the PNC bank? <br /> <br />We may want to ensure the majority of the TC members votes against this purchase, if the property is still available when TC meets in May.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Apr 25 2008, 12:13 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">"Mr. Stannard said there are several possibilities for the property, including using it for parking or converting it into a freestanding library. <br /> <br /> If the township were to purchase the property, it could explore a few options for funding the acquisition, he said. <br /> <br /> For instance officials could include the purchase in its capital budget for 2008, paying off the borrowed money over time, Mr. Stannard said." <br /> <br />I can't understand why we want to add to our debt and borrow more money for property that is clearly an impulse buy. It is no different than buying a pack of gum on a checkout line - it's right in front of it, we do not need it, but we want it.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Apr 23 2008, 4:51 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">For those of you who are so quick to spend our town's money - maybe you can pay for MY water, garbage, electric and sewer bills - instead of adding to my bills.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Cranbury conservative</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Apr 23 2008, 2:45 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">As I see it we cannot spend money we do not have. Does anyone realize we have over 23 million dollars in debt currently on the books? We should be paying down our debt and not accruing more. It is critical we stop and look at what is happening around us, as well as look forward. What expense will COAH be to this town? What impact will the states financial crisis be on Cranbury? Will we need to fight some type of legislation or court ruling that may try to force us to merge with another community? With that said we need to stop spending and start getting this town on a strong financial ground and have our town prepared for any of these potential financial emergencies or others which may arrise. Or we risk creating such a tax burden to the citizens of Cranbury that we will not be able to sustain the truly unique community we have today.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>James</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Mon, Apr 21 2008, 12:24 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">That's actually the best comment and one that I find interesting given that our TC are mostly Democrates. Instead of pursuing projects that cause additional tax burdens the TC should be looking at costs from the standpoint of the seniors and lower income residents and then making determinations on spending. <br /> <br />It is a great feeling to say Yes all of the time. However, the TC's role is to look out for the majority of residents and in my opinion that means having to say No more often. If a project is going to individually raise a tax burden and committ the town to a long term expense than it has to be something that is a must have project, not a nice to have project.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Mon, Apr 21 2008, 9:53 am EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest wrote:</b></span></td> </tr> <tr> <td class="quote">" Another option might be to negotiate a gift sale with PNC bank, which is a discounted price for a buyer and a tax write off for the seller, Mr. Stannard said. " <br /> <br />This is a good option. But will PNC give Cranbury priority over other buyers?</td> </tr></table><span class="postbody"> <br /> <br />This is still NOT a good option. At most, they would reduce the price by the amount of their tax benefit. That still means tax payers are going to have to spend a lot of money on this. Also, for the sake of argument, let's say we got the land free to do something like build a library or a park. How much will that cost? You don't know. And that is the point. They should not make any commitments to this property unless they know what it will cost in total to get to the end result and have shared that with the voters and gotten at least a read that there is broad support for this. <br /> <br />The Township Committee should not be a club for the most financially secure subset of the population to pursue their pet projects. They should feel a solomn obligation to the electorate to treat every dime spent as coming from its pockets and worry about it the same way they would worry about borrowing money from their long retired, fixed income grandmother. Anything less is irresponsible.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Mon, Apr 21 2008, 8:32 am EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">" Another option might be to negotiate a gift sale with PNC bank, which is a discounted price for a buyer and a tax write off for the seller, Mr. Stannard said. " <br /> <br />This is a good option. But will PNC give Cranbury priority over other buyers?</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Sat, Apr 19 2008, 7:42 am EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Quote:</b></span></td> </tr> <tr> <td class="quote">The approximately 8,700-square-foot building sits on a little more than 1 acre and is appraised at about $1.8 million, Mr. Drechsel said. <br /> <br /> However, the asking price is $1,395,000, a sum that serious purchasers have not tried to low-ball since the property went on the market, he said.</td> </tr></table><span class="postbody"> <br />It reads like a good deal. <br /> <br />Please someone rich buy it to open a shop and make more money out it (and pay tax accordingly), before the mayor and TC decide to buy it. <img src="images/smiles/icon_wink.gif" alt="Wink" border="0" /></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Sat, Apr 19 2008, 7:06 am EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest wrote:</b></span></td> </tr> <tr> <td class="quote">that is the last thing we need to go more in dedt.Rich stanard must think we tons of money.If we get grants we still pay for it one way or the other.We need to look ahead and figure how we can pay the dedt we have now (like to many cops which should start paying into there pen)</td> </tr></table><span class="postbody"> <br />You should really research something before you speak about it. All public, police, fire personel have funded their own pension systems for at least 10 years with no contributions from the tax payer. The State and local towns have only recently began contributing into them. Gov. Whittman started this mess when she gambled with all the pension systems many years ago and lost a ton of the money.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Apr 18 2008, 6:57 pm EDT<span class="gen"> </span> Post subject: Re: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">that is the last thing we need to go more in dedt.Rich stanard must think we tons of money.If we get grants we still pay for it one way or the other.We need to look ahead and figure how we can pay the dedt we have now (like to many cops which should start paying into there pen)</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>news</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Apr 18 2008, 6:02 pm EDT<span class="gen"> </span> Post subject: Cranbury eyes PNC Bank</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Cranbury eyes PNC Bank <br />Building, property up for sale <br /> <br />By Maria Prato-Gaines, Staff Writer <br />Posted: Friday, April 18, 2008 11:37 AM EDT <br /> <br /> CRANBURY — The Township Committee on Monday will discuss possibly buying the PNC Bank building. <br /> <br /> ”I think I could support that kind of a purchase for Cranbury because of the number of benefits,” said Committeeman Richard Stannard. <br /> <br /> The “For Sale” sign has been perched in front of the recently vacated bank at 32 N. Main St. for a little over a week now but a representing real estate agent said he doesn’t expect it to stay there for long. <br /> <br /> Gary Drechsel, president of Eagle American Realty Inc., the agency selling the property, said he expects to have a written offer or a letter of intent signed by the end of April, considering the number of interested parties who have approached him. <br /> <br /> One of those potential buyers could be Cranbury Township. <br /> <br /> Mr. Stannard said there are several possibilities for the property, including using it for parking or converting it into a freestanding library. <br /> <br /> If the township were to purchase the property, it could explore a few options for funding the acquisition, he said. <br /> <br /> For instance officials could include the purchase in its capital budget for 2008, paying off the borrowed money over time, Mr. Stannard said. <br /> <br /> It could also look for outside funds such as open space grants, he said. <br /> <br /> Another option might be to negotiate a gift sale with PNC bank, which is a discounted price for a buyer and a tax write off for the seller, Mr. Stannard said. <br /> <br /> ”We owe it to ourselves to at least discuss it,” he said. “The parking would always be useful.” <br /> <br /> The approximately 8,700-square-foot building sits on a little more than 1 acre and is appraised at about $1.8 million, Mr. Drechsel said. <br /> <br /> However, the asking price is $1,395,000, a sum that serious purchasers have not tried to low-ball since the property went on the market, he said. <br /> <br /> Depending on who purchases the property, downtown parking spaces could be on the line. <br /> <br /> The Township Committee made an informal agreement with the bank years ago that allowed downtown visitors to use the 15 to 20 spaces in the PNC parking lot. <br /> <br /> A new owner would not be responsible to uphold PNC’s previous parking agreement with the township and it would be up to local officials to renegotiate, Mr. Drechsel said. <br />... <br /><a href="http://www.packetonline.com/articles/2008/04/18/cranbury_press/news/doc4808bb19d723f365814522.prt" target="_blank">http://www.packetonline.com/articles/2008/04/18/cranbury_press/news/doc4808bb19d723f365814522.prt</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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