Investments

Bank Of America Investment A fund that helps Middlesex County towns defray the cost of curbside recycling has run out of money, prompting concerns that property taxes may be hiked to keep the program running.

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Investment Opportunity For the past eight years, the county tapped a "resource recovery investment tax," which funded a $30 million account it used to subsidize the curbside recycling program.

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Banc Of America Investment But the fund was depleted at the end of last year, said Jane Leal, a spokeswoman for the Middlesex County Improvement Authority, which runs the curbside program and has subsidized the towns' costs with the investment tax money.

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Banking Investment Seventeen towns in the county participate in the MCIA contract for curbside recycling pickup every two weeks. Since the contract began in 1995 the MCIA has paid 50 percent of the costs for these 17 towns, using the investment funds. The remaining towns in the county, which run their own recycling programs, receive subsidies from the MCIA.

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Investment Solution Strategic The improvement authority has been trying during the last few months to find a new revenue source to continue the program. Last year the investment tax provided $2.4 million countywide for recycling, Leal said.

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Investment Banking Services "It's an unfortunate situation. No one is happy about it," she said yesterday.

Bank Investment Local officials were reeling over the funding loss. Denise Jawidzik, the administrator in Jamesburg, told the solid waste council meeting the cuts could mean an additional tax point in her already financially strapped borough.

Alternative Investment Bernie Petersen, chairman of the solid waste council, said most towns already had prepared their 2004 budgets, and officials are complaining it could cause major budget gaps.

Online Investment Services Petersen, the recycling coordinator in Woodbridge, said the township received $443,000 last year.

Accompany Essential Investment Every town received letters from the improvement authority advising them the subsidies would be cut in half and that the MCIA can pay no more than 25 percent of the costs now.

Investment Company Leal said in the future the MCIA will be relying upon a $2.85-per-ton fee the county utilities authority collects at its landfill to help cover the recycling costs. But this "solid waste services fee" does not provide enough to cover 50 percent of the costs and the subsidies, Leal said.

Investment Management Solution Municipalities do not have the option of ending the recycling program, since it's mandated by the state. The list of materials includes: newspapers, cardboard, mixed papers, aluminum, glass, steel and plastics. Under state laws, 60 percent of all garbage must be recycled.

Investment Management Services Richard Hills, the county solid waste director, said Middlesex is the only county in the state to have reached and exceeded the goal for the past seven consecutive years.

Guide Investment Stock In 2001, the last year in which records are available, the towns recycled 370,460 tons of household waste, Hills said.

Investment Manual Solution The county's Solid Waste Advisory Council, which oversees recycling, authorized its chairman, to plead its case before Freeholder Camille Fernicola, the board liaison for recycling. The freeholders are expected to respond at next Tuesday night's meeting.

Investment Stock By Diane C. Walsh
Star-Ledger - 2/12/2004

Topic: Recycling

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