Hazleton Area and Crestwood school districts expect to save more than $2.5 million by refinancing debt while bond rates remain low.
In Hazleton, the school board OKâd a refinancing package two months ago that business Manager Robert Krizansky expects will save $2,244,000 and will close Friday.
On Thursday, Crestwoodâs board can authorize a deal to save $339,000 by refinancing $6.1 million left on bonds floated six years ago.
Since then, the average rate has fallen to 1.39% from 2.73%. Crestwood can still pay off the balance as scheduled in 2030, financial adviser Michael Vind said during a committee meeting with the board Thursday.
The pandemic slowed the economy and depressed rates, but Vind noticed a change recently.
HAZLETON, Pa. â Hazleton City Council voted down three mayoral vetoes on Tuesday night, leaving in place a 9.7% increase in property tax for 2021.Â
Last week, Mayor Jeff Cusat vetoed the budget because of an issue with police funding. He also vetoed the ordinance setting the property tax at 6.78 mills, up from 6.18. Cusat had sought a bigger increase in his draft budget.Â
Cusat said in his veto statement that cuts in the police budget could threaten eligibility for a federal Community Oriented Policing Services grant that would pay for four more officers.  Â
Council unanimously struck down the budget and millage vetoes.Â
Council President James Perry said the police funding issue could be resolved with financial transfers, not a new budget. The city s goal is to boost the force to 46 officers from 42. Â
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Hazleton City Council ratified a contract between the city and unionized firefighters that awards annual raises of between 2% and 3% through 2027 and complies with the cityâs Act 47 financial recovery plan.
Council voted unanimously to approve the agreement between the city and International Association of Firefighters Local 507. Mayor Jeff Cusat said it will help the city realize savings on medical insurance premiums and meets recovery plan criteria.
The agreement was negotiated before the existing contract with the firefightersâ union expired and was developed during a handful of meetings that were held in recent months, Cusat said.
âItâs a good contract for everybody â the city, the employees and taxpayers,â the mayor said. âWe negotiated it relatively quickly. Because of the Act 47 plan, we kind of knew what was important to both sides. We came up with a contract that is mutually acceptable and weâre both comfortable with.â
Banners are still available for a recently launched veterans program in Hazleton, organizers said.
The program has generated considerable interest among the public since it was announced a few weeks ago, but organizers are reminding residents that they can purchase banners in honor of living and deceased veterans.
The nonprofit We Are Hazleton organization, which is overseen by sitting members of Hazleton City Council, is making the banners available through its Hometown Heroes Veterans Banner Program.
Banners cost $175 each and will be displayed along Broad Street for two years.
Organizers Lauren Sacco and Allison Barletta said residents have been inquiring about the program almost daily and are reminding the public that banners remain available.