Mayor Zimmer: “Tax cut & infrastructure upgrades”
Mayor Dawn Zimmer announces:
In case you missed it, last week the City Council adopted our budget that includes a 1.25% municipal tax cut, the seventh year in a row we’ve held the line on taxes.
Thanks to our fiscally prudent decisions and AA+ credit rating, we’ve been on strong financial footing to make critical infrastructure upgrades to our City. These include:
Water main upgrades: Over the next six years, we’ll be investing substantially in upgrading our water main system. In addition to the $7 million for Washington Street and $5.2 million dedicated to other identified priority areas, we will be making more substantial investments in the years ahead.
Flood resiliency pumps: Our new H-5 flood pump, combined with our H-1 flood pump have prevented flooding in 5 of 6 rain storms this year that would have previously resulted in flooding. Together, the H-1 and H-5 flood pumps can pump out 3.75 million gallons of rain an hour from our streets.
Finally, thanks to our responsible budget practices and strong credit rating, we’ve financed these green infrastructure projects by qualifying for low interest loans with principal forgiveness through the New Jersey Environmental Infrastructure Trust, saving Hoboken taxpayers over $20 million.
I look forward to touching base again soon!