Gov. Backs Princeton Consolidation, Offers Transition Funding

A consolidated Princeton could receive a $340,000 state grant for one-time transition costs, under a plan proposed by Gov. Chris Christie today.

The governor announced the state Division of Local Government will provide grant funding for 20 percent of one-time consolidation costs, the first year of expenses.

That means should Princeton consolidate, there will never be a negative financial impact due to one-time consolidation costs, said Township Mayor Chad Goerner, also a member of the Consolidation and Shared Services Study Commission.

Princeton’s total transition costs are estimated at $1.7 million.  Upon full implementation in three years, it’s estimated that Princeton would realize at least $3.16 million in annual savings.

Christie also announced he is proposing legislation to allow merging municipalities to amortize one-time consolidation costs over five years.

Currently, Princeton is only eligible to spread about $650,000 of its one-time costs over five years, so the governor’s proposal would help Princeton achieve consolidation savings faster, Goerner said.

On Friday, Christie said he supports consolidation in Princeton. 

“The residents of Princeton Township and Princeton Borough have an opportunity to streamline their local governments and achieve significant savings now and into the future,” Christie said.

Borough Mayor Mildred Trotman agreed.

“While I have never before supported consolidation in the 49 years I have lived in Princeton, but believing as strongly as I do now that full consolidation is in the best interest of Princeton Borough residents, I am pleased that some financial relief to help offset the cost of transition is being made available to our taxpayers,” she wrote in a prepared statement.