Cranbury Township’s fiscal responsibility was the featured topic during the 2019 State of the Town address.
The address, which was delivered by Mayor James Taylor as part of a township committee meeting on Oct. 28, informed residents in attendance on the four goals of the committee: financial, safety, communication and infrastructure.
“Our number one focus as a township committee is maintaining our triple A – bond rating. That lowers our cost of debt, gives us the flexibility to do infrastructure improvements and govern with fixed-income residents in mind,” Taylor said. “We want to focus on our long term sustainability. We dealt with the recession and want to make sure going forward that future township committees are in a position to be financially stable.”
In the course of his address, Taylor explained how monies were used to reset the tax rate and cut the rate by 10 cents for 2019.
“We project a zero cent increase for the following three years,” he said.
With the debt picture solid, township officials anticipate several big ticket projects in the future.
“We have $11 million in projected road improvements, $6 million for the lake dredging of Brainard Lake, $1.5 million for first responder equipment – largely due to a potential fire engine acquisition in the future, and we also have an unknown target obligation of a fourth round of affordable housing,” Taylor said.
The final highlighted topic during the address regarded infrastructure projects already in progress and projects scheduled to be addressed by the township.
“Petty Road, Brick Yard Road, Nicola Court and Cranbury Greene are road improvements already in progress,” Taylor said.
The lake dredging, Ancil Davidson and Orchardside Roads and the library grant application, which is in progress now, are all scheduled to be addressed.