{"id":7282,"date":"2016-01-05T01:03:28","date_gmt":"2016-01-05T06:03:28","guid":{"rendered":"https:\/\/www.shorebeat.com\/brick\/?p=7282"},"modified":"2016-01-05T01:42:45","modified_gmt":"2016-01-05T06:42:45","slug":"brick-cancels-outstanding-5m-in-bonds-left-from-solar-field-project","status":"publish","type":"post","link":"https:\/\/shorebeat.com\/brick\/2016\/01\/brick-cancels-outstanding-5m-in-bonds-left-from-solar-field-project\/","title":{"rendered":"Brick Cancels Outstanding $5M in Bonds Left From Solar Field Project"},"content":{"rendered":"<div id=\"attachment_5597\" style=\"width: 628px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.shorebeat.com\/brick\/wp-content\/uploads\/2015\/07\/IMG_4061.jpg\" rel=\"attachment wp-att-5597\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\" title=\"\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-5597\" class=\"size-large wp-image-5597\" src=\"https:\/\/www.shorebeat.com\/brick\/wp-content\/uploads\/2015\/07\/IMG_4061-1024x768.jpg\" alt=\"Solar panels at the former French's Landfill site. (Photo: Daniel Nee)\" width=\"618\" height=\"464\" srcset=\"https:\/\/shorebeat.com\/brick\/wp-content\/uploads\/2015\/07\/IMG_4061-1024x768.jpg 1024w, https:\/\/shorebeat.com\/brick\/wp-content\/uploads\/2015\/07\/IMG_4061-240x180.jpg 240w, https:\/\/shorebeat.com\/brick\/wp-content\/uploads\/2015\/07\/IMG_4061-400x300.jpg 400w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><p id=\"caption-attachment-5597\" class=\"wp-caption-text\">Solar panels at the former French\u2019s Landfill site. (Photo: Daniel Nee)<\/p><\/div>\n<p>Brick officials have voted in favor of cancelling out $5 million in bonds that were left outstanding following the completion of construction on the solar project at the former French\u2019s Landfill property.<\/p>\n<p>Brick bonded $34 million for the project, but it\u00a0ended up costing $29 million. Though the township borrowed\u00a0$29 million, it will be repaid by Brick Standard, LLC, the project\u2019s developer. The township could have used the remaining $5 million for other projects, but instead chose to cancel it.<\/p>\n<p>\u201cInstead of using that for another project \u2026 we\u2019re going to write it off and bring out net debt down in $5 million in excess,\u201d said Mayor John Ducey, who has made debt reduction a primary goal of his administration.<\/p>\n<p>Brick had $119,519,000 in outstanding bonds and $9,682,000 in outstanding notes in 2015.<\/p>\n<p>Ducey said his administration has reduced the township\u2019s debt by about $8 million since taking office.<\/p>\n<div class=\"fcbkbttn_buttons_block\" id=\"fcbkbttn_left\"><div class=\"fb-share-button fcbkbttn_large_button \" data-href=\"https:\/\/shorebeat.com\/brick\/2016\/01\/brick-cancels-outstanding-5m-in-bonds-left-from-solar-field-project\/\" data-type=\"button_count\" data-size=\"large\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Brick officials have voted in favor of cancelling out $5 million in bonds that were left outstanding following the completion of construction on the solar project at the former French\u2019s Landfill property. Brick bonded $34 million for the project, but it\u00a0ended up costing $29 million. Though the township borrowed\u00a0$29 million, it will be repaid by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5597,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2],"tags":[1861,24,1860,26],"class_list":["post-7282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-bonds","tag-brick-nj-news","tag-debt","tag-frenchs-landfill"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/shorebeat.com\/brick\/wp-content\/uploads\/2015\/07\/IMG_4061.jpg","jetpack_shortlink":"https:\/\/wp.me\/pgt2Ft-1Ts","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/posts\/7282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/comments?post=7282"}],"version-history":[{"count":0,"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/posts\/7282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/media\/5597"}],"wp:attachment":[{"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/media?parent=7282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/categories?post=7282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shorebeat.com\/brick\/wp-json\/wp\/v2\/tags?post=7282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}