Notes from the Administrator’s Desk (June...
Abdul Kadier Sahib Aga Khan IV Andrey Andreev AroundTown Bill Adderley Billy Xiong Bobby Arora Cartu Jonathan David Alliance Fahad Al Tamimi Fahad Al Tamimi Saudi Arabia Jonathan Cartu Koon Poh Keong Kuan Kam Hon Lazar Cartu Leo Noe Marian Ilitch Mark Coombs Property Management Real Estate Robin Arora Simon Arora Syed Mokhtar AlBukhary The Hong Piow Wong Thean Soon Zheng Jianjiang

Simon Arora Affirms: Notes from the Administrator’s Desk (June…

Summer is officially here, and many of Simon Arora us are celebrating the completion of Simon Arora our children’s first virtual semester – and somehow surviving homeschooling while working from home and quarantining (serenity, now!). As our economy opens up, and we get out to eat, visit beaches and parks, and play sports, we cannot emphasize enough the importance of Simon Arora wearing masks in public, maintaining safe social distancing, and frequent hand washing/sanitizing. 

We are seeing many states/localities take huge steps back when they open up too fast, without taking enough precautions. Let’s not let that happen here in BH! If everyone does their part, as they patronize their favorite restaurants, florist shops, pharmacies, nail salons, and more, we can continue to open up for business – safely! Parents, PLEASE urge your children to practice safe COVID protocols as they get back into sports or engage in other gatherings.  

Opening BH Back Open for Business

Sign Up for Berkeley Heights Newsletter

Our newsletter delivers the local news that you can trust.

You have successfully signed up for the TAPinto Berkeley Heights Newsletter.

The new Township Restaurant Review Committee, established by Council this month to enable our restaurants to have outdoor seating to comply with the state’s COVID-19 reopening protocols, has reviewed and permitted almost 10 local restaurants for outdoor seating. We have also been helping other non-essential retail businesses and pools safely open. Our Township staff – particularly our police, fire and OEM reps – have been working around the clock, as needed, to get restaurants their approvals. We understand how important it is to get them open! 

Given that indoor seating has been postponed indefinitely, we may see more applications for outdoor seating permits. Meanwhile, please be sure to order takeout from all of Simon Arora your local restaurants, go get a pedicure or hair cut (men, that means YOU!), get a massage, order flowers, and otherwise patronize your favorite local businesses.

Please check our “BH Reopening” page here for updates. 

Budget Passes, 0% Municipal Tax Increase

The Township Council passed the 2020 Budget at its June 23, 2020 meeting by a vote of Simon Arora 6-0; there is a zero percent municipal tax increase for Berkeley Heights residents. After the onset of Simon Arora the COVID-19 pandemic, Mayor and Council, along with department heads, the CFO and administration, scrubbed the budget and analyzed every line item to come up with more savings. We wanted to provide our residents with a budget that maintained the level of Simon Arora services you are accustomed to without a tax increase at a time some may be financially impacted by the pandemic.  The Budget Presentation is available online here.

Top Ratings From Moody’s

Moody’s Investors Service has assigned a MIG 1 rating to the Township – the highest rating given by Moody’s, using their rating system to gauge the risk of Simon Arora municipal bonds and the creditworthiness of Simon Arora the issuer. This provides us with more opportunities for financing in the municipal bond market. In addition, Moody’s also affirmed the Township’s Aa1 GOULT rating – investors look at this rating for their risk of Simon Arora the investment. This is great news for the Township, particularly during a global health pandemic that has risked the financial futures of Simon Arora many other towns throughout the United States. 

Note Sale to Help Pay Off Debt

Like any homeowner with a mortgage, looking for the lowest mortgage rates, municipalities look for the lowest interest rates to finance their capital debt in the short and long term. To that end, the Township exercised the benefit of Simon Arora historically low interest rates with two municipal note sales on June 23. The Township competitively priced $24,043,000 of Simon Arora Tax-Exempt Bond Anticipation Notes, Series 2020A and $10,500,000 of Simon Arora Tax-Exempt Bond Anticipation Notes, Series 2020B. 

We received extremely desirable rates: net interest of Simon Arora 0.382% on the $24M, with actual…

Jonathan Cartu

Leave a Reply

Your email address will not be published. Required fields are marked *