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(Cherry Hill, N.J.) – Municipal taxes will not increase for a fifth consecutive year, under the FY2017 budget introduced by Mayor Chuck Cahn on Monday, Aug. 8.
The $69,226,980 budget continues to invest in roads, public safety, historic properties, public works, recreation, property maintenance and open space.
It includes approximately $9 million for capital improvements, which includes the annual Road Maintenance Program, sewer upgrades, and funding for enhancements to recreation facilities, athletic courts, trails and the historic Croft Farmstead.
In his introduction to Council, Mayor Cahn stressed the importance of balancing the Township’s economic interests with the needs of its neighborhood and residents.
“In developing this year’s budget, I felt strongly that maintaining a strong, vibrant and truly sustainable Cherry Hill community would require an important balancing act,” Cahn said. “One that realizes the importance of promoting and encouraging economic revitalization and redevelopment, while investing in services and programs that maintain the character and identity of a town that is built upon beautiful, close-knit neighborhoods, strong property values, public safety, recreational and cultural opportunities, and the families and seniors who live here.”
Cahn cited several factors that have contributed to the town’s financial stability, including a strong tax ratable base that grew by approximately $35 million from Fiscal Year 2016, savings on areas such as employee healthcare, and continued efforts to control municipal debt. He noted that the Township is on track to pay off 52 percent of its current debt in the next four years.
Ongoing redevelopment efforts, such as Penn Medicine’s reinvention of the old Syms department store and Kennedy Health’s $100 million reinvestment in its Cherry Hill campus have also provided a significant benefit to Cherry Hill, generating revenue that the Township has been able to reinvest into the community and increase services without raising taxes.
“As Mayor, I believe it is my responsibility, together with Council, to act in the best interests of our town in everything that we do, and to move our community forward, in every respect,” Cahn said. “Our commercial landscape is changing, but the character of our Township is not. That has not, and will not, change. Council and I are dedicated to creating the best possible future for our community and that will remain the highest priority in every decision we make.”
A public hearing and final adoption of the budget are scheduled for 7:30 p.m. Wednesday, Sept. 14, in the N. John Amato Council Chambers, Room 208 of the Municipal Building, 820 Mercer St.