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Chester County Real Estate News: January 27th, 2012 Comments Off

Oxford school board representation dispute continues

Opposing sides in the dispute over reapportionment of the Oxford Area School Board’s voting districts agreed to sit down together and attempt to reach an agreement on new boundaries before fighting the matter out in Common Pleas Court. A hearing was scheduled to ask Judge Shenkin to approve the at-large plan for board representation that was approved by a 5-3 vote of the board last year, as is required by law. Opponents had, however, submitted two modified plans for regional and at-large representation to the court, asking Shenkin to give his nod to one of them rather than the board’s plan. Before the hearing began, with the courtroom packed on both sides of the aisle, attorney Patrick O’Donnell, representing the at-large plan opponents, suggested to Judge Shenkin that he appoint a mediator to help the sides settle the dispute. He noted that such a technique had been successful in two other contentious voting cases, including the fight over a polling place in Lower Oxford.  Shenkin gave the sides until March 8 to report on whether any progress had been made in negotiations or whether a full hearing on the issue would be necessary. Asked if he thought the two sides could reach a compromise between the at-large plan approved by the school board last year and the modified plans supported by some district residents, President Joe Scheese told a reporter “I don’t think so.”

Source: Daily Local; 1/23/2012

Phoenixville website highlights community

Phoenixville Borough’s website includes links to a Video TourBook, which highlights various aspects of the community. The videos are all available on the lower right hand side of www.phoenixville.org and include the following topics:

  • Welcome
  • Quality of Life
  • Real Estate and Relocations
  • Education
  • Arts and Entertainment
  • Parks and Recreation

Residents object to Parkesburg tax hike proposal

Changes in how money is being allocated means the 2012 Parkesburg budget will be advertised for reopening, but the 2012 tax rate is still expected to jump dramatically. The new tax rate borough council is advertising for this year is 10 mills, a 25% increase over the 2011 rate of 8 mills. For residents with a home assessed at $100,000, the two-mill increase will mean an additional $200 in taxes. Residents attended the January 16 Borough Council meeting to question the need for the increase. The tax ordinance and budget will be considered at the February 6 Council meeting.

Source: Avon Grove Sun; 1/19/2012

Ordinance gives residents right to permit parking

West Chester Borough Council gave residents of the 400 block of West Miner Street the right to permit parking. The new ordinance designates that West Miner Street between Wayne and Brandywine Streets will be included in residential parking permit zone B from 8 a.m. to 4 p.m., Monday through Friday. Residents brought the parking issue to the attention of council last year, citing problems with county employees using their spaces. Similar parking petitions from South Brandywine Street and Wayne Street were denied because council did not feel there was the same immediate parking issue. Councilman Jim Jones suggested creating an ad hoc parking committee to examine the borough’s long term parking problems.

Source: Daily Local; 1/23/2012

Solar farm developers promise sewer hookups, buffer expansion

The developers of a proposed solar farm project in Caln Township promised residents who live north of the property that they will expand a buffer and pay for sewer-connection fees. The farm is proposed for 46 acres south of Dogwood Lane. During a township hearing, developer Harry Keares said the new plan is to move the natural buffer on the northern part of the property from 25 feet to 100 feet. The developer will also pay for both a public sewer and water line along Scott Drive and Dogwood Lane and pay the tie-in fees to the 38 residences along those streets. The Board of Commissioners has 45 days to render a decision on the proposed project.

Source: Daily Local; 1/23/2012

Posted on: 01-27-2012
Posted in: Chester County, News

Chester County Real Estate News: January 13th, 2012 Comments Off

Early Coatesville District spending plan includes tax increase

The Coatesville Area School Board discussed a preliminary budget with a 3.36 percent tax increase during Tuesday’s finance committee meeting. The budget would require the district to apply for exceptions to increase taxes above the state-mandated 2.1 percent limit set by the Act 1 index, which is determined by various market measures. Board President J. Neil Campbell said he is uncomfortable with a tax increase over 3 percent, but he voted for the measure to move it forward and give the district flexibility. The proposed tax increase of 3.36 percent is below the estimated increase in expenditures at 3.5 percent. Many districts are filing for the exceptions at this point even if they do not plan to use them to give themselves flexibility. Two hundred districts in the state responded to a recent survey and nearly half said they are filing for the exceptions. The final budget will not be released until April or May.

Source: Daily Local; 1/11/12

Chester County’s former steel towns credit ratings shift

According to Moody’s, Chester County’s former steelmaking towns are headed in opposite financial directions. Moody’s boosted its rating on $12 million of Phoenixville’s general-obligation bonds to Aa3, citing the borough’s “ample financial reserves” and downtown redevelopment, which has put more property back on the tax rolls. Moody’s dropped the rating on $158 million in Coatesville Area School District general-obligation debt from A2 to A1 blaming the “structural imbalance in the district’s operating budget resulting in five years of operating deficits that have decreased the district financial position.”

Source: Philadelphia Inquirer; 1/10/2012

T/E board leaves options open for property tax exceptions

The Tredyffrin/Easttown Board of Education voted to publish notice of the intent to file for referendum exceptions that would enable the board to enact a tax increase of 3.3 percent.  The vote came after a presentation of preliminary budget options for 2012-13 within the context of a five-year projection of revenues and expenses. In a letter mailed earlier to all T/E taxpayers, the district had explained that it faces a deficit of about $6.2 million because of “continued revenue erosion, contractual salary expenses and benefit costs (and an) increased rate of retirement contributions to the Pennsylvania School Employees Retirement System.” That retirement-fund contribution rate is 12.36 percent of paid salaries for 2012-13 and projects to 23.66 percent in 2015-16, according to Tuesday’s presentation.

Source: Daily Local; 1/5/2012

Oxford council revisits sidewalk issue

Property owners in Oxford without sidewalks may have to install them, depending on their location in the borough. Councilman Randy Teel expressed concerns about the lack of enforcement of the sidewalk ordinance. According to borough ordinances, sidewalks must be installed on properties that do not have them when the parcel is sold. Teel has expressed concerns that Wells Fargo Bank on North Third Street was not required to put in sidewalks when ownership was transferred on the property. Enforcement of the ordinance seems to have varied over the years.  According to the borough solicitor, council can define a region for sidewalk improvements based on health and safety needs. Borough Manager Betsy Brantner pointed out that the planning commission will tell a builder if they need a sidewalk during their plan review. Now that sidewalks are being discussed again, the policies on enforcement of the ordinance are going to council’s codes committee for further discussion.

Source: Daily Local; 1/11/2011

Posted on: 01-13-2012
Posted in: Chester County, News

Chester County Real Estate News: January 6th, 2012 Comments Off

Portion of Downingtown rezoned

Downingtown Council members unanimously approved to rezone Brandywine Avenue and the 100 block of Washington Avenue to a General Commercial District. Under previous zoning, the area included residential, industrial and commercial zones. According to Andrew Rau, the borough’s solicitor, the area will now be both residential and commercial throughout, which will allow for a variety of different uses for the buildings, including churches, legal offices and stores. “The residence can always stay as a residence,” said Rau. Homeowners can also expand upon the current building, up to 25 percent. The most significant change will occur when a homeowner wishes to sell or change a property to a commercial building. If this change occurs and remains as a business entity for more than 12 months, and the owner wishes to return the building to a residence, they must petition to do so to the Zoning Hearing Board.

Source: Daily Local; 12/29/2011

West Vincent seeks volunteer for Planning Commission

The West Vincent Board of Supervisors is searching for a volunteer to serve on the Planning Commission.  This will be a two year commitment, with meetings taking place on the 2nd and 3rd Thursday of each month.  If you have a desire to serve West Vincent in this way, please send your name, contact information and any qualifications you feel would help the Township in this capacity to tswavley@westvincenttownship.org.

Easttown approves 2.5 percent tax increase

Easttown Township supervisors approved a 2.5 percent tax increase for the township’s 2012 budget. The increase is the lowest in the past four years and follows a 4 percent increase in the 2011 budget. The millage rate will increase from 3.919 to 3.979 mills. In October, Easttown residents found they would have a 2.5 percent increase in sewer rates for the next five years due to an ongoing and urgent need to upgrade the township’s part of the Valley Creek Trunk Sewer System, and also a 4 percent increase in trash removal fees.

Source: Daily Local; 12/27/2011

Oxford officials approve tax hike to fund $3.27 million budget

Oxford Council approved an increase in the real estate tax rate for 2012, bringing it up from 11 mills to 11.20 mills. For a homeowner in the borough with a property assessed at $100,000, that translates to a tax increase of $25 for the year.

Source: Daily Local; 12/24/2011

Downingtown council OKs sale of Kardon Park

Downingtown Borough Council approved an agreement to sell Kardon Park to developers Sarah Peck and Jack Loew. Prior to the meeting, Borough Manager Stephen Sullins said the agreement will outline how the sale would proceed when and if the litigation over Kardon Park is resolved, since everything in the courts must be settled prior to the land’s transfer. Solicitor Patrick McKenna said the agreement had undergone several revisions since Dec. 22. The agreement of the sale involves three park parcels, called Parcel 1, Parcel 2 and Parcel 3. Parcel 1 is measured at approximately 17.5 acres and is located in the borough; Parcels 2 and 3, in East Caln, are approximately three and seven acres, respectively. According to the newest revision of the contract, Parcel 1′s minimum price is $2.61 million; Parcel 2′s is $900,000; and Parcel 3′s is $860,000. McKenna said at the meeting that even if the developers purchase Parcel 1 and not Parcel 2, they must still remediate Parcel 2. The developers have already deposited $300,000, which will be applied to the total purchase price.

Source: Daily Local; 12/29/2011

O’Neill, Citizens settle dispute

Litigation between two of the region’s economic heavyweights, Citizens Bank of Pennsylvania and developer Brian O’Neill, is over. Accompanying word of settlement, O’ Neill made an enthusiastic pronouncement that his long-stalled Uptown Worthington mixed-use development near Malvern — which stood at the center of the nearly two-year-long dispute — would soon rumble with new construction. As Uptown Worthington progresses, it will include modifications to the original plan. What were once envisioned as condominiums will be 753 apartments built in three phases, the first to begin within six months. Construction of a 145,000 square foot office building will also begin within the next three months. An additional 375,000 square feet of retail space is expected to accommodate 55 stores and 15 restaurants.

Source: Philadelphia Inquirer; 12/24/2011

No tax hike for residents in Pocopson

Pocopson Township residents can look forward to another year without a property tax increase from the township. According to Supervisor Steve Conary, new homes at Scaleby Farms and new construction by NV Homes have brought in taxes Pocopson had not expected. Conary also noted that the township’s open-space preservation program has officially ended. Enacted in 2006, the open space program used a 1 mill property tax to purchase open space throughout the township and place easements on those properties. At the time, the township officials limited the program to five years. The 1 mill tax, which was enacted by public referendum, will remain in place for the next few years to offset funds borrowed by the township to purchase land for the purpose of open space. The township has conserved 1,264 acres of land through the program.

Source: Daily Local; 12/25/2011

Posted on: 01-6-2012
Posted in: Chester County, News

Chester County Real Estate Statistics: December 2011 Comments Off

Click to Enlarge

2011 is done. Over with. In the past.  The year was sort of like “medicine” in my opinion. During the Christmas weekend, my younger son (Chris speaking here) came down with Strep throat. In order to help with the pain & healing, he had to take several different medicines. This wasn’t easy, as he is only 3 years old and very strong willed. If he doesn’t like something or want to do it, he won’t. So trying to “Sell” him on taking medicine wasn’t easy. It tasted awful, but was very good for him.

That’s sort of how I look at 2011. It didn’t go down very well, but it’s a big step towards recovery.  I’ve read a lot of articles from “experts” and many are saying there are many signs that the national housing market is very near the bottom and close to recovery. Here are some of those points:

- From CalculatedRiskBlog.com:

  • In 2011, construction employment added a few jobs, first since 2006
  • Some say new home sales and housing starts may see an increase on 2012
  • Wells fargo is predicting a 15% increase in sales of new construction, best year since 2008.
  • Goldman sachs believes that housing starts have bottomed out
  • Even with a 15% increase, it’s still the third worst year since the census Bureau started tracking new homes sales in 1963 (2009 and 2010 being the worst respectively )

- Bob Denk, senior economist at the National Association of Home Builders, to CNNMoney “Inventories of new homes are very low: There’s nothing on the shelf, so any increase in new home sales will translate directly into new housing starts. That means putting people back to work.”

- Tara-Nicholle Nelson of Inman News says “- Consumers will get “hopeless”, meaning they will realize that this is the new “normal” and start to take action on things they’ve put off. “(Read her full article)

- – Beginning of the end of the housing bust? Due to a rise in housing starts permits, this expert believes so.  (http://www.businessinsider.com)

All of this does give me some hope. I have believed and been predicting that 2012 will be somewhat similar to 2012. In fact, we still feel that, due to the “Distressed Property” inventory (Foreclosures and Short Sales) that home prices will continue to slide, possibly as much as 10%. However, I believe there will be an uptick in activity, in the number of homes sold. I believe that will be due to a combination of consumers getting to that point where they realize that things aren’t going to just magically turn around and start to get off the fence and just pent up needs.

With that long introduction, let’s look at the numbers for December 2011:

SUPPLY:
Supply is the lowest it’s been in a very long time.  In our opinion, this is a good sign. When supply is down and demand is up, it means good things. As we will mention, demand is not skyrocketing, but it isn’t dropping either. As we said the last few months, we feel this is due to many people getting “out of the game” because they are seeing reality and they can’t get the price they want for their home, so they are staying in the house for now.

DEMAND:
Demand, or the number of homes sold has been pretty steady, despite the seasonal trend that activity lightens up. We’ve personally seen quite a bit of interest in the last few weeks, so we feel that January is going to be an active one.

LIST TO SALE PRICE RATIO:
This is another positive sign. In December, homes that sold received about 91.5% of asking price. That’s more than seasonally expected and shows that prices are getting to where they should be. The next 6 months will be very telling. If this number can stay closer to 93% than 90%, this is a good sign.

DEMAND

SUPPLY

PENDING

AVERAGE SOLD PRICE

LIST TO SALE PRICE RATIO

What Does this mean for me?

IF YOU ARE SELLING OR THINKING OF SELLING:

Yes – it is still a difficult time to sell a home. However, our team continues to have great success getting homes sold. At the end of 2011   , we sold 48 homes. In the end, you must have an exceptional agent by your side to help you get the information and perspective you need to make this critical decision. We’ve helped many clients do just that over the last year and a half. Call us today to let us know you need help.

IF YOU ARE BUYING A HOME OR THINKING ABOUT IT:

There continues to be amazing opportunities there for those who have all their “ducks in a row”. If you do not have a home to sell, that means knowing the process, having your financial options figured out and knowing, clearly, what you are looking for. If you have a home to sell, that adds that you have met with Caleb to know what the SELL side looks like and then meeting with Chris to clearly nail down the buy side. Interest rates are amazing, hovering around 4.25%.  So if you are thinking about buying, call us today to get that ball rolling.

NEXT STEPS:

BTW, We do have very specific data for every price range and area of town. Want specific data pe

Posted on: 01-5-2012
Posted in: Chester County, Market Update, Monthly Update, News

Chester County Real Estate News: December 16th, 2011 Comments Off

Easttown Township sewer moratorium

Easttown Township is currently under a PA Department of Environmental Protection-mandated Capacity Management Plan (CMP), which effectively precludes adding new or expanded sewer connections. Several updates need to be made to the sewer system in the township before the CMP will no longer be active.  In order for that to happen, there needs to be an upgrade to the Valley Creek Trunk Sewer; six sewer pump stations in Easttown need to be replaced or refurbished; and the township must continue removing clean water (inflow and infiltration) from the system. The projects should take approximately three years to complete.

First Suburbs honors Coatesville official, Gerlach

The Southeastern Pennsylvania First Suburbs Project was formed approximately four years ago to address major challenges facing inner-ring suburbs such as housing, infrastructure and education finance reform in Delaware, Bucks, Chester and Montgomery counties. The regional coalition consists of municipal, education, faith and civic leaders.  The coalition recently presented the Jonathan T. Schmidt Visionary Leadership Award to Coatesville Assistant City Manager Kirby Hudson. Hudson said he believes the coalition has helped his city improve housing issues. The Most Powerful Federal Legislator Ally of the Year award went to U.S. Rep. Jim Gerlach (R), and the Most Powerful State Legislator Ally of the Year award went to state Sen. Ted Erickson (R), of Newtown.

Source: Daily Local; 12/12/2011

Chester County residents to see tax increase in U-CF

Residents in the Unionville-Chadds Ford School District will see an increase in next year’s tax bills in Chester County, while Delaware County residents will see a slight decrease. The administration presented a preliminary budget for the 2012-13 tax year which will set spending at $71.6 million. That figure means an increase in millage rates of 3.87 for Chester County residents and an 0.60 percent decrease for Delaware county residents. A mill is a tax of $1 for every $1,000 of assessed real estate value. In Chester County, the millage rate goes up from 24.68 mills to 25.48, a 3.87 percent increase over 2011-12 rates. In Delaware County, the millage rate drops from 21.82 mills to 21.69 mills. The preliminary budget is scheduled for adoption at the Jan. 23 school board business meeting.

Source: Daily Times; 12/14/2011

Anti-eminent domain language eyed for regional land plan

In light of a recent plan to take by condemnation the Ludwig’s Corner Horse Show grounds, a Chester County commissioner has recommended that a proposed regional open space plan include language that specifically opposes using eminent domain to acquire park land. Commissioner Ryan Costello attended an East Vincent Township Board of Supervisors meeting Wednesday to make that recommendation. East Vincent is the lead municipality for the parks, recreation and open space plan being developed by the Federation of Northern Chester County Communities. The plan, two years in the making, is nearing completion and is expected to be approved in February, according to Township Supervisor Christine McNeil, who also serves as vice president of the federation. When complete, it will define a vision for parks, open space and recreation for nine Northern Chester County townships: East Coventry, East Pikeland, East Nantmeal, East Vincent, North Coventry, South Coventry, Warwick, West Pikeland, and West Vincent.

Source: Daily Local; 12/9/2011

Posted on: 12-16-2011
Posted in: Chester County, News

Chester County Real Estate News: December 13th, 2011 Comments Off

Phoenixville council eyes 19% tax hike

Phoenixville Borough Council voted to advertise a proposed $7.6 million 2012 budget that includes a 19 percent tax increase. The proposed millage increase, .84, means a household appraised at $100,000 would pay $84 more in real estate taxes next year. The new millage rate is 5.25, up from last year’s 4.41. Borough Council was tasked with balancing the budget with a $144,338 shortfall in the general fund. The preliminary budget takes into account the debt service for a bond to complete capital improvements (.71 mill). The $10.9 million bond accounts for $2 million for repairs to water infrastructure, $500,000 in improvements to the wastewater treatment plant, and an $8 million new borough hall. After an executive session, council agreed to take the steps needed to issue the bond for the new borough hall. The proposed budget includes increases for the cost of sewer and water for residents: $5.15 per thousand gallons for sewer and $6.80 – up from last year’s $6.15 – for water. The shortfall of $144,338 was reduced to $111,000 with various adjustments. The gap was closed with an increase to the cost of safety permits and licenses and a .13 mill increase to the general fund. A public hearing is set for Dec. 13, during which Borough Council will vote on the final budget for 2012.

Source: The Mercury; 12/1/2011

Horseshow grounds condemnation sets off major debate in West Vincent

West Vincent Township Supervisors announced a decision to condemn a 33-acre tract of land last week in a news release as part of their “ongoing effort to fulfill the vision of its Ludwig’s Corner Strategic Vision and Community Design Plan.” The plan calls for “a compact, walkable, traditional village center containing a blend of municipal, commercial and residential uses.” Supervisors said they intended to incorporate the grounds into their master land-use plan as a public park, offering both active and passive recreation, such as playing fields for local youth leagues. The announcement was met with protests from members of the community and the current owners of the land, the Ludwig’s Corner Horse Show Association. West Vincent Supervisors opted to table discussion of the issue at a recent meeting, but decided not to vote to rescind the condemnation Monday night due to Supervisor Ken Miller’s absence.

Source: Daily Times; 12/6/2011

West Chester seeks volunteers for 2012 Boards and Commissions

Much of the important work of the Borough of West Chester is done by volunteers serving on appointed Boards and Commissions. These volunteer Boards and Commissions provide Borough Council with advice on various matters and help to deliver quality municipal services. Follow the link below for a list of the Boards and Commissions that will have vacancies in January 2012 along with a brief description of their function and the qualifications for serving. Click here to find out more information.

E. Marlborough raises taxes for fire department

Residents will see a $50 to $60 increase in their tax bills next year as part of East Marlborough Township’s efforts to support the financially ailing Po-Mar-Lin Fire Company. The township’s supervisors have been concerned for years that the all-volunteer fire company serving East and West Marlborough, Newlin and Pocopson townships was losing money and might one day be forced to close.  A 0.3-mill tax increase to the 2012 budget will provide an estimated $206,000 a year for fire protection.

Source: Daily Local; 12/7/2011

Posted on: 12-13-2011
Posted in: News, Phoenixville, West Chester

Chester County Real Estate Statistics: November 2011 Comments Off

Click to Enlarge

“The ugly, straight up truth is that your home is worth more now, than it will be in for another 18-24 months”. That’s what many of our current and potential seller clients are hearing right now. The market has been good to the Chris & Caleb team, but in general, has continued to decline for the last 4 years, with only some decrease in speed to console those of us who care. At the moment, there are no signs, nothing on the horizon, that lead us to believe that a solid turn around will be happening in 2012. The best we can realistically hope for is for prices to stablize, however we don’t feel that will necessarily happen.

With that said, all is not doom and gloom and bad news. The interest rates are low – lower than they’ve been in 40 years – home prices are back below 2003- 2004 price levels (before the peak), which means homes are affordable again, and lenders are beginning to be a bit more reasonable in their lending.

Other good news is that Fannie’s REO inventory dropped another 11%, which is the 4th straight quarter that number fell. In addition, percentage of prime loans (72% of all loans) 30 days delinquent has decreased from 3.46% to 3.19% in Q2 2011, the lowest since early 2007. 60 Day delinquent loans decreased slightly to 1.30% from 1.37% last quarter. 90+ decreased to 3.5% from 3.61%. With that said, if we just looked at REO inventory, we might think that the situation is getting better pretty quickly. However there are a large number of properties in the “90 days delinquent” and “in foreclosure” buckets. So we aren’t out of the woods yet.

SUPPLY:
Supply continues below the 5 year trend line and down 9% from last year, the same month. As we speak to many current and want to be seller’s, we contribute this decrease strictly “market fatigue”. Many seller’s have given up selling their home as they chase the market down, never getting ahead of the falling sale prices. Now, if only demand would spike, there would be good hope for having hit the bottom of the market.

DEMAND:
Demand is holding steady, staying right above last year, but slightly below the 5 year trend. Based on our experience and speaking with many buyers and sellers, we feel the market will continue to stick slightly below the 5 year trend line. There just isn’t anything that shows that it will start to completely turn around yet.

LIST TO SALE RATIO:
It seems that the market may be trending to be a bit early than it has in the past. It is clearly seen with these numbers. It’s like the market is a month early. That means that seller’s should seriously consider putting their homes on the market a month early, in February, as we believe the “Spring market” will come a bit early this year. As for Buyer’s, get your ducks in a row, cause things might get hot quick.

DEMAND

SUPPLY

PENDING

AVERAGE SOLD PRICE

LIST TO SALE PRICE RATIO

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Posted on: 12-6-2011
Posted in: Chester County, Market Update, Monthly Update

Chester County Real Estate News: November 5th, 2011 Comments Off

No tax hikes in 2012 Chester County budget

The Chester County commissioners adopted a $513 million budget for 2012 that does not contain a property tax increase for the third straight year, but will include the first employee salary increases since 2009. The budget, approved unanimously by the three commissioners, calls for cuts in departmental expenditures of an average of 4 percent, although some mandated service areas such as the county court system will see expenses rise slightly. Under the budget, the county will levy a property tax of 3.695 mills. The median taxpayer in the county would thus see a county tax bill of $657.85 for a property with an assessed value of $165,915. A mill is worth $1 for every $1,000 in assessed value. The millage rate, while stable, will bring in significantly less revenue than in past years because of changes in the county’s property assessment levels. In the 2011 budget, the millage rate was supposed to bring in more than $158 million; preliminary estimates show that it will raise $5 million less in 2012. The full 2012 budget publication will be completed and on line by mid-next week on the county home page at www.chesco.org.

Source: Daily Local; 12/1/2011

Coatesville officials bracing for budget cuts

Coatesville City Council received input from various city department heads on its current budget crisis and will next decide where expenses should be cut. City Manager Gary Rawlings previously reported to council that the best way to make nearly $2 million in spending cuts is to reduce the size of the city police department through attrition and early retirement. Council also questioned the codes department about ways to cut costs. Codes Director Damalier Molina said he recently lost an employee in his department and is not looking to fill that position. He said the best way to balance the budget is to increase revenues through the instant ticketing program he has often suggested to council. Council has asked for a realistic estimate for how much the program will cost to implement and how quickly that cost could be offset. Molina was also questioned about why code violations are continually being thrown out of the Chester County Court of Common Pleas.

Source: Daily Local; 11/28/2011

No tax increase in Kennett Square’s budget

Kennett Square Council‘s 2012 proposed budget keeps the tax rate at 4.85 mills. The borough increased taxes by one mill last year after facing a deficit of $240,000. Half of a mill was set aside to fund a new public works building. The $55 per quarter trash fee residents pay should generate about $280,000 in revenue. In the past three years, the borough has eliminated a $610,000 deficit in the general fund and this year’s budget makes accommodations to restore reserves in the fund.

Source: Daily Times; 11/29/2011

Oxford Borough Day

Oxford will hold a day of activities on Dec. 5 from 7:30 a.m. to 7:30 p.m. at Oxford Borough Hall, 401 Market Street and the Oxford Police Station, 57 N. 4th Street. Residents will be given the opportunity to review the budget, get up to date on the Borough code, and be a part of the visioning process for the community. This is an opportunity for residents to bring concerns, questions, and suggestions to members of the borough council, mayor, police chief, borough manager and employees. For more information call Betsy Brantner at: 610-932-2500, ext. 302.

Penn Township buys Red Rose Inn

Penn Township has reached a settlement to purchase the Red Rose Inn property through eminent domain at the cost of $1.7 million. The agreement includes the payment of $33,500 in back taxes. Once the township has title to the property, it will move forward with plans for the building. The plans include fixing the intersection to make it safer for travel and utilizing the building for municipal and community purposes. The township historic commission will seek to have the inn placed on the state register of historic places.

Source: Avon Grove Sun; 11/24/2011

Posted on: 12-6-2011
Posted in: Chester County, Coatesville, Kennett Square

Chester County Real Estate News: November 18th, 2011 Comments Off

Coatesville budget hikes taxes

Coatesville City Council approved a proposed budget that includes a tax increase of approximately a half mill. The proposed budget includes about $8.4 million in expenditures and revenues. The proposed increase would take the property tax rate back to the levels in the city from just a few years ago, according to City Manager Gary Rawlings. The proposed budget makes cuts from various departments, including police, to make it balance; however, Rawlings said the specific line items that will be cut have not been decided. In other words, the proposed budget puts all of the expenditures at the levels they need to be to balance the budget, but how those numbers are achieved has yet to be decided. Originally, the proposed budget had included taking $400,000 from the city’s trust fund for an equipment fund, and an increase of the city’s trash bills to create a capital projects fund.

Source: Daily Local; 11/15/2011

Tredyffrin/Easttown board opts against spring-ballot EIT

The Tredyffrin/Easttown school board decided not to run a referendum for a one percent earned income tax (EIT). If passed, the referendum would have appeared on the April 2012 primary ballot. Two board members voted in favor of the referendum, while seven voted against it. Those who voted against the tax said that imposing an EIT would only add more stress to those residents affected by the declining economy. Board members also said that such a tax would not serve as a long-term solution to the district’s budget problems.

Source: Suburban Main Line Life; 11/17/2011

East Vincent supervisors divided over funding for Northern Chester County study

East Vincent Township supervisors are sharply divided over an issue concerning funding for a study being done by the Federation of Northern Chester County Communities. Two supervisors believe that the eight other municipalities in the Northern Federation should sign an agreement saying they will chip in funds for a Parks, Open Space and Recreation Plan if one municipality fails to approve it. The board voted 2-1 last month to withhold any additional township funds to pay for the study until such an agreement is signed. At issue is $106,000 in reimbursable funds to cover the cost of consultants who are developing the plan for the Northern Federation. For the past several years, East Vincent has taken the role as the lead township for a Chester County grant being used to fund the plan. The grant is structured so that the township funded $106,000 and will be reimbursed by the county in full after the plan is approved. The plan, which has been in development since 2009, will define a vision for parks, open space and recreation for nine northern Chester County townships: East Coventry, East Pikeland, East Nantmeal, East Vincent, North Coventry, South Coventry, Warwick, West Pikeland, and West Vincent. Each of those townships must incorporate the plan into a comprehensive plan once it is complete.

Source: Daily Local; 11/16/2011

The 155th District’s representative will step down after his current term

State Rep. Curt Schroder, who currently represents the 155th Legislative District in Harrisburg, announced that he will not seek reelection. Schroder, 49, of East Brandywine, will step aside after the end of his current term. Rep. Schroder was first elected to the 155th seat in 1994. He succeeded current U.S. Rep. Jim Gerlach, R-6th, of West Pikeland, who had won election to the state Senate. He had briefly considered a run for Congress when Gerlach announced his decision to run for governor, but dropped that bid when Gerlach changed his mind and ran again for Congress. Since taking office, Schroder also has been instrumental in local issues in Chester County, winning road improvements along the Route 100 corridor from Upper Uwchlan to South Coventry, and helping out with revitalization efforts in Downingtown. He also played a major role in the effort purchase the Shryock property in East Brandywine to buffer Marsh Creek State park from planned commercial development.

Source: Daily Local; 11/11/2011

Posted on: 11-18-2011
Posted in: Chester County, Coatesville, Tredyffrin Easttown

Chester County Real Estate News: November 11th, 2011 Comments Off

Westtown Township bond rating downgraded

Westtown Township is facing a credit-rating downgrade by Moody’s Investor Service, which warns that more and more municipalities are spending beyond their means as the recession continues. Westtown Township had its bond rating cut from Aa3 to Aa2 on the eve of a planned $9 million general obligation bond sale. Moody’s is concerned that Westtown will be paying more for its regional taskforce, has already borrowed too much, and is running a deficit on current property-tax revenue.

Source: Philadelphia Inquirer; 11/4/2011

Bank, apartments coming to Uptown Worthington

Uptown Worthington, a mixed-use development located near the intersection of route 29 and route 202, is digging in, this time for a PNC Bank branch site. The developer is moving earth now and will turn over the site on Matthews Road to the bank in early 2012, said Steve Forster, director of public finance and government resources at O’Neill Properties of King of Prussia. The PNC branch will be part of Phase I of the 100-acre development, a retail phase that includes a Wegmans and a Target. Those retailers opened in summer 2010. Another change for Uptown Worthington is a switch from the planned luxury condominium units to 753 apartments units to meet market demand. The housing units are part of Phase II at Uptown Worthington. With the development’s master plan amended, the next step will be to present revised land development plans to the township, said Terry Woodman, East Whiteland township manager. Much of the multimillion-dollar Uptown Worthington mixed-use project came to a halt when the project’s developer filed suit against its lender, Citizens Bank of Pennsylvania, seeking $8 billion in damages and claiming the bank reneged on some of its loans.

Source: Daily Local; 11/4/2011

Phoenixville weighs tax hike to close $241,235 deficit

Facing increases in insurance premiums for health care and workers’ compensation, the need to replace outdated vehicles and unresolved contract negotiations, Phoenixville Borough recently released a proposed $6.9 million budget for next year that hikes taxes 8.4 percent to close a budget deficit of $241,235. The proposed increase would take the borough’s tax rate from 4.41 to 4.78 mills, meaning a homeowner with a property assessed for tax purposes at $100,000 could expect to pay an additional $37 in 2012. A council meeting has been scheduled for 6:30 p.m. on Nov. 29 to discuss the budget and other Phoenixville business.

Source: Daily Local; 11/7/11

Franklin voters defeat tax for open space again

Franklin Township voters again defeated a tax for open space in Tuesday’s election. Unofficial results show the referendum for a half-percent income tax for open space was defeated, 841-591. A similar measure was defeated in the May primary election. The supervisors raised the issue for the fall ballot despite that defeat.

Source: Daily Local; 11/9/11

Chester County Budget Meeting

The Board of Commissioners of Chester County will hold a 2012 Budget public hearing on Thursday, November 17, 2011 from 7 p.m. to 8 p.m. in the Commissioners’ Board Room, sixth floor, 313 W. Market Street, West Chester, PA.

Source: Daily Local; 11/6/2011



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Posted on: 11-11-2011
Posted in: Chester County, News, Phoenixville, West Chester
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