The Independent Leaders ask a good question. We absolutely agree with them.
Do we really need another authority? Is this another one of Mr. Louis Magazzu’s distractions to create doubt about the Cumberland County Improvement Authority? Or is he just trying to grab another headline?
The Daily Journal printed an article Wednesday, Oct. 14, reporting that Freeholder Director Louis Magazzu wants a new Cumberland County authority to advance the area’s economic agenda. He claims he will look into that as well as whether CCIA could be revamped, saying he wants to create a separate economic development authority.
This plan of action makes no sense. Why would we want to create another authority to issue more bonds in Cumberland County? That would mean more government, and more salaries, legal work and accounting.
The CCIA has already bonded $22.7 million for its own landfill, and $60 million to help Vineland Municipal Electric Utility. Mr. Magazzu is fully aware of this. The CCIA also issues environmental enhancement grants.
Mr. Magazzu, where are the projects to substantiate the bonds? Projects to consider would require the ability to pay back the debt. Vineland Electric is able to repay its bondholders.
Jane Y. Christy
Bruce T. Peterson