Last Tuesday (Oct. 27), New Castle County Council voted 9–3 to take $2.6 million out of the fund that exists to preserve county farmland — and spend it on bills.
Where the money goes:
• About $1.6 million to the IRS — an arbitrage rebate owed on the county's 2021A bonds, due Nov. 30. Miss that deadline, and the amount could double.
• About $500,000 for tree maintenance after recent storms.
• About $500,000 for rising employee healthcare costs.
That leaves $2.4 million in the preservation fund, out of what was roughly a $5 million fund. The county's finance chief, David Del Grande, says the remainder still covers the farm projects in the pipeline through 2032.
The argument over it is very Delaware. Councilman Brandon Toole voted yes — and still called it a “raid” on the fund. Opponents called it short-sighted and part of a spending trend. County Executive Marcus Henry's office calls it responsible debt management.
Farmland money paying the tax man. One approved amendment does promise to replenish the fund down the road — we'll be watching whether that actually happens.
Source: Spotlight Delaware, Nov. 3 (vote taken Oct. 27).
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