Tuesday, April 9, 2013
Lawsuits against the city, post-Sandy zoning relief, municipal budget increase and more.
City Council has a full agenda for its public meeting 7 p.m. Thursday (April 11) at the Ocean City Free Public Library. Council will consider an ordinance that would eliminate the local Ocean City Ethics Board, but here are five other things that might be of interest:
Wednesday, December 12, 2012
The city will less than 2 percent interest on $10 million in bonds sold on Tuesday.
Wednesday, December 12, 2012
The City of Ocean City will pay an interest rate of just 1.87 percent on $9.9 million in bonds sold today to permanently finance various capital improvements. The bonds were bought by UBS Financial Services in a competitive process that included 11 bids from three companies across the country. The outstanding interest rate was a result of stable and conservative financial management practices, which led Standard and Poor’s Rating Services of New York to affirm the city’s outstanding bond rating of “AA.” Ocean City had received an upgraded long-term rating from “A+” to “AA” prior to their last bond sale in July 2010. Following a complete review of the city’s financial condition and other factors, last week Standard and Poor’s again …
Saturday, October 13, 2012
An update through the third quarter shows city revenues up by $743,000.
Ocean City has hauled in more than $11 million in user fees in 2012 — a 7.21 percent over 2011. Substantial increases in revenue from beach tag and parking fees have helped the city bring in an extra $724,973 this year. At Thursday's City Council meeting, City Finance Director Frank Donato updated council on revenue figures through Sept. 30, and the news was good. Because so many people covet Ocean City's beaches, boardwalk and shore amenities, the city has already brought in about 16 percent of its $69 million budget through fees — a luxury few other towns enjoy. Revenues through Sept. 30 are as follows: PARKING: A $5 increase in parking lot fees for peak weekends and the addition of about 60 spaces to the Fifth Street parking lot (where…
Thursday, April 26, 2012
Final votes on the municipal budget (and tax rate) and parking meter fees highlight the agenda.
City Council has a full agenda for its public meeting 7 p.m. Thursday (April 26) in Council Chambers on the third floor of City Hall, but here are five things that might be of special interest:
Thursday, March 22, 2012
The March 22 meeting offers a chance to comment on the city budget and includes a final vote on an amended sign ordinance.
City Council has a full agenda (see attached PDF) for its public meeting 7 p.m. Thursday (March 22) at City Hall, but here are five things that might be of interest.
Thursday, February 16, 2012
City Council budget workshops continue 6 to 8 p.m. Thursday, Feb. 16.
City Council began work Wednesday night on preparing a budget for the 2012 fiscal year with a presentation on anticipated revenues. Mayor Jay Gillian's administration delivered some good news with its proposed budget. An anticipated return to taxpayers of $720,000 from the Ocean City Free Public Library and a $250,000 increase in beach tag revenues will more than offset a $241,474 increase in proposed spending (an increase of just 0.35 percent on a $69 million budget). That means Ocean City will have to collect less money from taxpayers next year than they did this year. The local tax levy decreases by 0.49 percent from $43,373,538 to $43,160,426. But because there will be less property value to tax next year, the local tax rate will go up…
Monday, February 13, 2012
The meetings Feb. 15 and 16 are open to the public.
City Council has scheduled public workshops on the proposed 2012-13 municipal budget for 6 to 8 p.m. Wednesday and Thursday (Feb. 15 and 16) at City Hall. The Wednesday meeting addresses projected revenue, and the Thursday meeting outlines spending. Both meetings are in Council Chambers on the third floor of City Hall. Mayor Jay Gillian's administration delivered a draft budget on Thursday (Feb. 9) that keeps spending almost flat and decreases the tax levy slightly. Under the proposed budget, spending increases by just 0.35 percent over last year from $68,950,382 to $69,191,855. Because the city is projecting an increase in local revenue, the city will have to collect less in taxes under the proposed budget. The tax levy falls by 0.49 …
Thursday, February 9, 2012
The mayor's administration delivers a proposed budget that decreases the tax levy.
Mayor Jay Gillian's administration delivered a draft budget on Thursday night (Feb. 9) that keeps spending almost flat and decreases the tax levy slightly. Under the proposed budget, spending increases by just 0.35 percent over last year from $68,950,382 to $69,191,855. Because the city is projecting an increase in local revenue, the city will have to collect less in taxes under the proposed budget. The tax levy falls by 0.49 percent from $43,373,538 to $43,160,426. But while Ocean City taxpayers overall will pay less in taxes next year, who pays more and who pays less will depend on whose property assessments were changed. Through tax appeals and reassessments to select areas, Ocean City's ratable base fell by 5.3 percent. The proposed …