LAKE COMO — The Lake Como Borough Council has voted to appropriate $525,000 for improvements to the lake at the most recent council meeting on Tuesday, April 4.
Bond ordinance 2023-04, offered by Councilman Christopher D’Antuono, was adopted and will allocate an estimated $525,000 in funds to a project that will build “various improvements” along the lakefront.
According to the ordinance, the funds would be collected through three sources.
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The first, is a grant “received or expected to be received from the Monmouth County Open Space Grant Program” for $200,000.
The second is a $15,477 down payment on the improvements, required under the Local Bond Law of New Jersey.
The remaining funds of $309,523 were authorized to be issued to the project in bonds and notes.
The Open Space Grant Program, as described by the Monmouth County Park System, is intended to “assist municipalities by providing additional funding needed to make park improvements in municipal parks and open space.” Under the program, Lake Como would receive $200,000 of a maximum possible $250,000 for these upgrades.
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