Georgetown Discusses $12.5 Million Debt - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Georgetown Discusses $12.5 Million Debt

 GEORGETOWN, Del. - The mayor and town council of Georgetown met Tuesday to discuss the 2016 fiscal budget, money from which will go towards the town's $12.5 million debt.

No decision was made at the meeting. However, there is a plan in motion to pay back the debt already.

"Most everything's unavoidable when it comes to debt," Gene Dvornick, the town manager said. He explained that the debt has been incurred through sewer and water projects that had to be done, as well as infrastructure that needed to be replaced.

Mayor Bill West said he attributes the multi-million dollar debt to growth.

"The debt to me shows that we've we've spent some money to try and build up our infrastructure to to make it more appealing to get new residents and businesses to look at Georgetown," he explained.

As of now, no taxes will be raised or programs cut, but rather the town is making regular payments to reduce the debt. The payments can be seen in the photo connected with this story.

Some people however, like Lillian Harrison, a local business owner, think more needs to be done, and soon.

"I think if they start at the last minute trying to address those issues theygoing toonna look at passing those costs and those fees to new businesses coming in, new homes being built," she said. "And that's really not going to be fair when we could have started now, kind of addressing the issue."

"It's something they should be concerned about," Mayor West agreed. "But at this point not severely concerned because we do have it under control."

According to Georgetown officials, it isn't unusual for a town to be that far in debt. For instance, in Millsboro, which has around 2,000 fewer people than Georgetown, the debt is at $29 million.

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