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Rutherford on spending freeze
(by Daniel O'Keefe - October 20, 2008)
Since no one showed up to a tax lien sale today on property owned by EnCap Golf Holdings in Rutherford, the borough will begin a purchasing freeze. This means only items such as essentially equipment and supplies, wages and utilities will be paid for until further notice, according to chief financial officer Ed Cortright. The borough will halt spending on everything from seminars in Atlantic City to paper clips at borough hall until further notice.
The sale of the tax liens on EnCap’s Rutherford property was postponed once again this week. No one, including representatives from EnCap or Trump, showed up on the morning of Oct. 20, thus duplicating the scene from a week ago. If the liens aren’t sold by the end of the year, Rutherford could lose over $600,000 in revenue anticipated in its 2008 budget and end up with a deficit for the year.
Rutherford tax collector Caryn Miller said that two companies which had previously expressed interest in purchasing the liens, M.D. Sass and Crusader Services, said on Oct. 13 that they wouldn’t be in attendance. They didn’t give a reason. The borough had been getting inquiries from interested buyers up until the Friday before the sale, according to Cortright.
The borough has held three sales in the past two weeks, but no interested buyers have attended any of them. After no one showed up on Oct. 13 at 10 a.m., Miller postponed the sale for noon. Again, no one was in attendance. Consequently, the sale, which can be postponed for up to eight weeks without further advertising, was rescheduled for Monday, Oct. 20. Again, no one showed. Miller has rescheduled it once again for Nov. 12.
For the full story see the Oct. 22 edition of the South Bergenite.
| Comments (1) |
On October 21, 2008, anonymous said:
I didn't know that seminars in AC were being paid for before the freeze. Going forward, there should not be any seminars in AC paid for ever. |
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