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Critical Municipal Garage Bond Ordinance passes 8-0!

The City Council vote on the bond to provide the funds to give the city a contingency should the sale of the Municipal Garage fail to materialize, passed tonight in an 8-0 vote.

Just as both Councilman Russo and Councilwoman Castellano spoke agreeing with each other not to vote to approve the bond, Councilwoman Mason opted to break the direction in the vote and agreed to the no cost bond ordinance.  The cost to taxpayers for delaying the bond’s approval was put at $160,000.  Additional interests costs was pegged at $600,000 annual and Councilwoman Carol Marsh pointed out that would be a long term annual cost.  Even so, the bond’s passage requiring six votes was very much in doubt.

The possibility is now very much alive Hoboken may have an option to see the Municipal Garage remain where it is and not need a new home.

There was a great deal of discussion on many issues, many peripheral to the issue at hand on the bond ordinance. In the end Councilwoman Mason approved the no cost contingency for the city and did the right thing for Hoboken.

Thank you.

Councilwoman Beth Mason listening to the discussion leading into the bond ordinance vote during Wednesday night’s City Council meeting.

Related: Hoboken Patch.com is also up with the story on the vote for the bond ordinance.

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