Silver lining to poor economy

Many folks believe that behind every dark cloud there is a silver lining.
Jul 19, 2013

The proverb is often used to put a good spin on an unpleasant situation.

This is true during our recent years of a down economy. We sympathize with those who have lost jobs and hope they soon gain full employment.

However, like the proverb predicts, there has been a bright side. Contractors desperately are looking for work, resulting in construction projects often coming in under budget. Interest rates have also been historically low, allowing people to purchase homes and other items.

This was the case recently in Grand Haven Township. The township has eight years remaining on its Building Authority bond (i.e., the loan) used to finance the construction of the administrative and public works complex on 168th Avenue.

Last month, the Township Board authorized these bonds to be refunded at a negotiated “all-in” interest rate of 1.75 percent for their remaining eight years. This is similar to refinancing a mortgage on a home.

The refunding will reduce debt payments by a total of $161,392 over the next eight years.

The Ottawa County Road Commission recently informed the township that bids for resurfacing township roads came in under budget. And, with the cost of Harbor Transit being less than anticipated this year, the township has about another $164,000 that can be directed toward street maintenance.

We don’t like to see those storm clouds approaching, but it is comforting to know that there is often a ray of sunshine on the other side.

Our Views reflects the majority opinion of the members of the Grand Haven Tribune editorial board: Kevin Hook, Cheryl Welch, Matt DeYoung, Alex Doty and Fred VandenBrand. What do you think? E-mail us a letter to the editor to news@grandhaventribune.com or log-in to our website and leave a comment below.

 

Comments

zwesterhouse

I'm not sure what is causing this poor economy - but for one thing I'm glad I paid off my house in 10 years flat back in 2001. Industry is crying and belly aching for skilled trades persons in CNC machining and Tool & Die. Employers say they can't find anybody. I was in tool & die and walked away from it when I paid off my house. Got another system of making a living in this economy going. Just for kicks - I went looking for a CNC programmer or Tool & die job that only works 7am to 3:30 and no weekends. Have been told by every temp service that those hours don't exist. Employers want 7 day a week employees for $12 to $15 an hour with no benefits. Those jobs have now become "derogatory positions" Grand Haven area/Ottawa County its all like that. I have got $15,000 worth of Tools for the CNC and tool & die trade. I'm just going to leave that tool box in the corner and at my passing - it can be donated to the Smithsonian. I loved that profession when I worked it. Not now - Too many hours, Too little benefits and temp service abuses.

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