Green Oak Township may start requiring developers to post a bond if they want the township to issue bonds to pay for infrastructure in new developments and then pay off the bonds with special assessments collected in the future.
Now that these special assesment aren't being paid and townships are having trouble making payments to the county for onds, isn't it a little late to start this policy? Republican incumbents on the Livingston County Commission insist there's nothing they could have done to prevent this crisis, which has led to proposed legislation seeking a state bailout for the county. Previous press accounts have said as many as half of Livingston County's townships may have trouble making payments on their bonds. Since the county backed the bonds, county taxpayers are on the hook.
But it appears there is something the Livingston County Commission could have done -- not backed the bonds unless the townships required developers to post a bond.
2 comments:
Damned if they do - damned if they don't. At least it shows they're listening and reacting.
As opposed to say - the mostly Democratic Wayne County Commission which is going to fire 500 people to maintain a non-contractual perk for retirees.
It has more to do with the continued cuts in state revenue sharing than a one time $500 check retirees get when the system they spent 30-40 years paying into when the system is over funded. Note only that, the Wayne County Board of Commissioners has at least one Republicans, unlike the one-party Livingston County Board.
Good thing we have a real watchdog and check on the board. It’s not the newspaper and not the Republican Board of Commissioners. If this had not been brought to light by Democrats, it would be business as usual.
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