Fair Haven Borough Plans $17 Million Bond Sale Amid Temporary Budget Adjustments
- Meeting Overview:
The Fair Haven Borough Council meeting focused on financial matters, particularly the upcoming $17 million competitive bond sale and the management of a temporary budget due to the lack of an approved budget for the year. The council expressed confidence in the favorable market conditions for the bond sale, expected to draw strong demand and beneficial rates.
In preparation for the bond sale, set for the following day, the council highlighted the borough’s AA+ rating. The finance team, including the borough’s finance director and administrator, received commendations for their diligent work in ensuring the borough’s readiness for the bond sale. This financial move aligns with the borough’s long-term fiscal strategy and is expected to support upcoming projects and operational needs.
The council also addressed temporary budget adjustments, a routine necessity as they await the formal budget approval. It was clarified that these adjustments allow the borough to maintain operational continuity by ensuring sufficient funds in various accounts for expenses and payroll. The finance committee is working on the budget, with meetings planned to finalize the details.
Additionally, the council acknowledged the exceptional efforts of the Department of Public Works (DPW) in managing the significant snowfall. The timely snow removal efforts were praised, with the DPW’s response described as effective, even outperforming neighboring areas.
In community news, a ribbon-cutting ceremony for the Habitat for Humanity project on Hendrickson Place was announced, scheduled for March 4th. The project represents a collaborative effort to provide housing opportunities, with the council encouraging community participation to welcome the new homeowner.
Josh Halpern
City Council Officials:
Elizabeth Koch (Council President), Tracy Cole (Councilwoman), Michal DiMiceli (Councilwoman), Kristen Hoey (Councilwoman), Andrew “Drew” LaBarbera (Councilman), Brian Olson (Councilman)
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Meeting Type:
City Council
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Committee:
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Meeting Date:
02/23/2026
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Recording Published:
02/27/2026
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Duration:
12 Minutes
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Notability Score:
Routine
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State:
New Jersey
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County:
Monmouth County
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Towns:
Fair Haven
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