$12 million loan via Redevelopment Authority lease-back
Summary
The lease-sublease with the RDA refinances a $6 million short-term note due Dec. 31 — and it let the city drop the proposed 1-mil property tax increase for 2027.
At a glance
- Total mentions
- 2
- Last 30 days
- 2
Discussed at 2 meetings in the last 60 days; most recently Nov 10, 2026.
Impact analysis
Eliminates the proposed 1-mil property tax increase in the 2027 budget.
Every Easton property taxpayer who would have faced the mil increase.
Mentions & discussions (2)
City Council - Nov 10, 2026
The lease-sublease with the RDA refinances a $6 million short-term note due Dec. 31 — and it let the city drop the proposed 1-mil property tax increase for 2027.
City Council - Oct 27, 2026
The city plans to lease police headquarters to the Redevelopment Authority and lease it back — a legal workaround to borrow $12 million and replace its TRAN, buying breathing room while the water authority gets going. Council wants the repayment numbers first.
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