Troubleshooters: Update on Oak Island’s finances

This week’s Troubleshooters Report is an update on the Town of Oak Island’s finances.

The town has a number of major capital improvement projects in the works. Contractors recently finished a new police department, are in the process of building 2 new fire departments, and installing a $91 million sewer system.

They were also planning to build a new, multi-million dollar town hall. But in light of the recent economic downturn, Oak Island, like other cities across the state, is looking for ways to cut costs.

The town hall project has not been put on hold yet. The town now is getting bids to get a better idea of how much it would cost. But once they get some numbers in, town council may reassess whether building a new town hall is something they can still afford to do at this time.