Wednesday, August 7, 2019

LDC gives LSTA $1.5 Million Loan to be repaid with State Loan

Town officials at the LDC meeting yesterday stressed the importance of having busing in Lakewood. They noticed the current camp Traffic in town and pointed out how bad it is when there is no busing. They alluded to the gridlock day when all private school parents drove their kids to school. (There were no carpools and all mandated parents who had busing drove as well).

At  the Lakewood Development Corp meeting ( see video here minute 22:00)
the board voted to give the LSTA a loan of $1.5 million dollars from UEZ funds for back pay as they owe money for June and fund them for now until the loan of $36 million comes from Trenton.
Since the LSTA has not been renewed there is no funding to cover, as they would use future funds to pay for previous shortfalls.

The BOE  has issued a bid  proposal looking to hire a 3rd party company to run the private school busing in Lakewood. LDC chairman told board members said you can assume confidently the LSTA will win the bid and therefore will be able to pay back the loan with the loan from Trenton.

LDC meeting began with the board voting to hire the LCSC  in running their micro loans program and monthly presentations at the Strand. The LDC Chairman who is also the president of the LCSC  recused himself while his fellow members voted to renew his contract.



2 comments:

  1. Someone in the KnowAugust 7, 2019 at 11:38 AM

    You are soo helplessly wrong. The LDC can no longer give grants per the new amended legislation of the UEZ Act. Therefore in order to maintain the loan and networking events programs, the LDC had to approve two new projects not as grants but as a competitive bid process. The whole world was invited to give in proposals, it was noticed in the Asbury Park Press and the Tri-town news as well as on the township website and posted in hard copy in the Lakewood Development Corporation's office. All notices were posted publicly over 25 days before proposals were due in on Monday August 5th at 10 AM. LCSC and only one other company submitted proposals that arrived at the due date and time. This was a fair and open process. I wish more organizations in town were as organized as the LCSC.

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  2. Why was the agenda not publicized with the items on it.

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