The Peters budget may be in a financial crunch, but youth sports teams are unlikely to feel the pinch as council Monday night moved forward with plans to spend millions for artificial turf, new ball fields, and field lighting for Peterswood Park.

Thanks to plunging interest rates and slashed construction costs, there has never been a better time for capital improvements, council members said.

"This is probably the prime time to borrow money," said Councilman Frank Arcuri, who voted with three of his board mates to undertake a $6.35 million bond issue.

Councilmen David Ball, Michael McCaig and James Berquist also voted to begin the borrowing process, which will include a public hearing and bids from bonding agents before a final decision is made.

Council members Robert Atkison, Robert Lewis and Monica Merrell voted against the $6.35 million spending plan, which includes funding for a major expansion of Peterswood Park.

Mr. McCaig said tax laws required that 85 percent of the bond be spent within three years, significantly moving forward plans for the park.

The move comes on the heels of an announcement last month that the township would likely need a real estate tax increase by as early as next year to address plummeting revenues.

The township is anticipating a $715,000 budget shortfall by the end of this year, due to stagnant real estate development. Real estate transfer taxes and other development fees are down by 70 percent.

The township had been planning to issue a bond for at least $1.7 million to cover obligations for new tennis center lights, the replacement of a bridge over Bebout Road, and for its share of a major intersection rebuild at Valleybrook Road and Route 19.

Council previously discussed floating a higher bond to help complete phase one of an expansion project for the park, but decided to go a step further and assess long-term recreational needs in the favorable borrowing climate.

Council was given five options ranging from the $1.7 million base bond to $6.35 million, which would include major park improvements, such as the construction of four new ball fields, rest rooms, a concession stand, parking and more. The improvements are expected to address field shortages and other problems for at least the next 10 years.

Members unanimously voted to incur at least $4.6 million in debt, but they couldn't come to unanimous agreement on anything higher.

"People ask can we afford this and I believe we can't afford not to," said Mr. Berquist of the higher spending plan.

Mr. Berquist and Mr. McCaig said they believed the spending was necessary to attract new residents, but Ms. Merrell urged caution, saying not everyone would be using the new facilities.

"A tax increase affects everyone," she said.

Mr. Lewis and Mr. Atkison said they didn't believe it was prudent to incur so much debt during a time of economic uncertainty. They also said the plan for artificial turf and other amenities was unfair to those who previously asked for a township swimming pool and other facilities.

"There will be other times to do it," Mr. Atkison said.