Business & Tech

$60,000: East King Revitalization's Impact on the Borough

The new apartments and businesses won't be a windfall for the borough.

During a discussion of the police services and budgeting at the of Malvern Borough Council, resident Joan Yeager asked a related question:

"Once the King Street project is completed, how much additional money is going to come into the borough? In taxes and all," she said.

"Something in the neighborhood of $60,000 a year," council president Woody Van Sciver said, citing a financial feasibility study done before the project was approved.

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"That's it?" Yeager replied, expecting a bigger payoff from the several new businesses and hundreds of new residents that will be moving to the east end of the borough.

"It was staggering, how small it was," Mayor Jerry McGlone said.

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Members of the planning commission confirmed the number, saying $60,000 was the net revenue after sewer prices and other costs were subtracted.

"Then, what was the object of this project?" Yeager asked.

Van Sciver responded that the borough can't ask for money from people who want to develop their land.


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