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MAYOR'S UPDATE:
WEEK ENDING JULY 22
Thanks to everyone who attended the Pizza Run on Monday night! Thank you to the DWC for bringing back this favorite long-standing Westfield tradition!
As you’re well aware, outdoor temperatures are soaring and our area remains under a Heat Advisory through Sunday at 8:00 PM. Please remember to stay hydrated, limit outdoor activity, and check on any neighbors in need – and of course, please do not leave children or pets unattended in a car. For additional heat safety tips from the National Weather Service, please visit https://www.weather.gov/safety/heat.
The Westfield Memorial Library has been designated as a cooling center, and is expanding its hours this weekend to include opening on Sunday. Anyone who needs a place to cool down can drop in today until 4:30, Saturday from 9:30-4:30, and Sunday from 1:00-5:00.
In addition, due to the current heat wave hitting the state, New Jersey American Water is asking customers to voluntarily limit all non-essential water use until further notice. Please use the following schedule for outdoor watering needs:
- If your street address ends in an even number, please water on even-numbered dates.
- If your street address ends in an odd number, please water on odd-numbered dates.
If you have a heat-related emergency or see signs of anyone experiencing heat stroke, always call 911.
Stay cool, and enjoy your weekend! |
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AAA BOND RATING REAFFIRMED
In case you missed it, earlier this week I shared the good news that S&P Global Ratings assigned their AAA long-term rating to the Town’s $9.9M series 2022 general obligation (GO) general improvement bonds, which support the Town’s facilities, infrastructure improvements, and ongoing equipment purchases. Importantly, S&P also reaffirmed their AAA rating on the Town's GO bonds outstanding, which allowed us to conduct a very successful $9.9M bond sale this morning that achieved a final rate of 2.499%. As a result, we will be reducing our first year of interest by almost $60,000, and lowering our overall debt service by $624,000 from our initial projections several months ago that took into account the uncertainty of the markets.
Credit ratings are forward looking opinions about an issuer’s relative creditworthiness. S&P defines a AAA rating, their highest, as Investment Grade, with extremely strong capacity to meet financial commitments. In fact, Westfield is among just 44 of New Jersey’s 565 municipalities to achieve this rating.
S&P described the town's market values per capita as among the strongest in the county, and reaffirmed our strategy related to our surplus as follows: “Given expected fiscal 2022 performance and management’s unofficial target of holding reserves at the current level, we expect Westfield will maintain very strong reserves and liquidity over our outlook horizon.”
To reiterate what good news this is, we had been advised to conservatively project that the marketplace might produce a sale between 3% and 3.5%, with hopes that we may go as low as 2.9%. Upon completion of the sale, with six bidders in total, Fidelity Capital Markets was awarded the bid, with the lowest net interest cost of 2.499%. In fact, the top four bidders were all within five basis points of one another, confirming the strong value that Westfield “paper” holds within the investment community.
All of this is fantastic news and reiterates our strong fiscal, debt, and surplus management strategy, positioning Westfield extremely well even during these uncertain times. I’d like to thank our Town Administrator Jim Gildea and CFO Scott Olsen, who lead our daily financial operations and are supported by the heads of each Town department in maintaining an informed, strategic, and disciplined approach to managing your tax dollars. The assistance we received from our long-term Bond Counsel, Steven Rogut, and our Financial Advisor, Sherry Tracy, was also extremely helpful in achieving an optimal outcome. In addition, the Town Council Finance Policy Committee, which consists of Councilwoman Linda Habgood, Councilman Mark Parmelee, Councilman David Contract,and Councilman Scott Katz, has been instrumental in setting forth and delivering on this administration’s fiscal strategy.
As we are seeing in the recent residential real estate trends and ongoing investment in our downtown, Westfield remains a very desirable location for families and businesses. Today’s news only further strengthens our position as we look to the next phase of optimizing our post-pandemic future.
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FIRE DEPARTMENT UPDATES
Chief Duelks is introducing the Westfield Fire Department’s first-ever Youth Fire Academy on August 22 and 23 for Town residents from the ages of 12 to 14. This is a free program run by the Westfield Fire Department, where participants will learn lifesaving skills and what it takes to be a firefighter. Space is limited, with applications closing on August 1. For additional information, please email fire@westfieldnj.gov, or call 908-789-4130.
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POLICE DEPARTMENT UPDATES
Save the date! On Tuesday, August 2, the community is invited to attend National Night Out, where our Police, Fire, EMS, Public Works, Recreation, and Library departments will be on hand for an evening of activities for the whole family from 6:00 - 9:00 at the North Avenue train station lot. |
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THROUGH THE LENS
I was thrilled to meet with the many talented photographers yesterday whose work is part of the Through the Lens exhibit sponsored by the Public Arts Commission. If you haven’t had the opportunity to check it out, please include it in your next visit to our downtown. The photos are displayed on the Central Avenue side of the Rialto, and reflect the amazing artistic talent in our community. The exhibit will remain on display throughout the summer. Photos are available for sale, with all proceeds to go towards future public art exhibits.
This arts program is made possible in part by a 2022 HEART (History, Education, Arts Reaching Thousands) Grant from the Union County Board of County Commissioners.
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GRAND OPENINGS
Today, I had the pleasure of attending two more grand openings for downtown businesses! Viktoria Seiz is a new bakery serving delicious raw and vegan desserts, which is operated by Westfield residents Viktoria and Dennis, adding a beautiful new space to the ongoing momentum of the South Avenue business community. You can find out more about their offerings on their website.
And be sure to check out the new Artistique Hair Studio at 105 Prospect Street, where owner Maria has chosen to open her first salon after years of working in salons in the city. It’s an exciting time for Downtown Westfield as we continue to see new businesses open!
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WELLNESS WALK IN TAMAQUES PARK
Who’s up for a stroll in Tamaques Park with Chief Battiloro and me? We’ll be in Tamaques Park at 6:00 next Thursday, July 28, for a wellness walk. Join us for an evening of enjoying the park while discussing any questions or concerns on your mind. Thanks to Amy Lewis in the Health Department and resident volunteer Tony Bianchino who serve as our liaisons to the Mayors Wellness Campaign, which is a statewide public health education initiative, for organizing this event.
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SUMMER STREET SWEEPING
Summer street sweeping is underway throughout Town, a process which typically takes about eight weeks to complete. Residents are asked to remove all cars from the streets where the sweepers are working so that the stormwater drains can be accessed to help avoid clogging and drainage issues.
We have two sweepers, with one working on the north side and one on the south side each day. Our crews have finished Zone 1, Zone 6, and Zone 7, and are currently working in Zone 2 and Zone 8. To stay apprised of the sweepers' locations, residents can enroll in text or email updates at westfieldnj.gov/townupdates, or visit westfieldnj.gov/street-sweeping. A map of the leaf collection zones used for street sweeping can be found at westfieldnj.gov/zone-map.
Once the summer pass is complete, the street sweepers will return in the fall after leaf collection, and also continue with their ongoing sweeping of the downtown area several times per week throughout the year.
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