Hunterdon County approves appointments to new improvement authority aimed at lowering municipal borrowing costs
HUNTERDON COUNTY, N.J. — The Hunterdon County Board of County Commissioners has approved five appointments to the newly created Hunterdon County Improvement Authority (HCIA), establishing a financial tool designed to help municipalities lower borrowing and debt management costs by leveraging the county’s AAA bond rating.
The appointments were made during the board’s Dec. 2 meeting and mark the official launch of the authority, which was created under the County Improvement Authorities Law.
The HCIA will offer towns a voluntary and cost-effective way to finance capital projects — including roadway improvements, police vehicles, heavy equipment purchases and upgrades to parks and open space — at reduced interest rates.
“This Authority is a significant step forward in our ongoing efforts to expand shared services and cost savings for our municipalities,” said Commissioner Director John E. Lanza. “With the creation of the Hunterdon County Improvement Authority, we are providing our towns with the ability to use the county’s AAA bond rating when obtaining financing for important infrastructure work — saving taxpayers money while continuing to build on our strong financial foundation.”
The following appointments were approved:
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Kevin Davis, term ending Feb. 1, 2030
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Gary Hazard, term ending Feb. 1, 2029
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Robert T. McNally, Esq., term ending Feb. 1, 2028
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Howard J. Opdyke, term ending Feb. 1, 2027
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Beth Gates, term ending Feb. 1, 2026
According to an independent analysis by Phoenix Advisors, municipal taxpayers could have saved nearly $700,000 in interest payments over the past two years had a similar program been in place. With recent approval from the New Jersey Local Finance Board, the HCIA is positioned to begin offering financing opportunities to towns in 2026.
Lanza noted that the authority’s launch is part of what county leaders call a “New Era of Partnership” with local municipalities. He credited Deputy Director Shaun C. Van Doren for his work strengthening shared services relationships with municipal officials.
