Hardyston to back loan for dam repair

HARDYSTON — The Hardyston Township Council is required to co-sign a loan with the Homeowners Association of Summit Lake for repairs to the Summit Lake dam.

The association applied to the state Department of Environmental Protection for a low-interest loan financing at 2 percent for 15 years to repair the dam several years ago. The association was approved for the loan, but the state's financing program to assist with dam repairs requires backing from the township. The loan is solely the responsibility of the lake owners, not the township's taxpayers

Once the project is approved, and the work is authorized to be completed, the DEP will pay the invoices submitted for the work.

Township Manager Marianne Smith reported “the financial status at Hardyston Township year-end was strong.” Smith also told the council “there will be more discussions regarding finances in the next couple of months as we consider budgetary appropriations for 2015."