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MORTe again votes down midtown garage refinance saving City $50,000 and avoiding City layoffs

Councilman Peter Cunningham as he stated on Sunday brought back the refinancing for the midtown garage with the expectation the hospital sale will close this Friday.

MORTe (Mason, Occhipinti, Russo and Terry Castellano) quickly returned to its obstructionist tactics since collapsing on blocking the last component of the hospital sale Sunday voting again in lockstep against the refinancing.  
The refinance of the midtown garage is a legal requirement with the new owners Holdco coming in as a taxable entity.
Previously MORTe would not provide a sixth vote so the City of Hoboken could save $50,000 annually via lower interest rates in a refinance and meet IRS requirements for the taxable portion of the garage’s use. 
On the ordinance’s first reading MORTe once again voted unanimously no.  The ordinance passes on first reading with five affirmative votes.  It will require a sixth vote for passage.

Previously MORTe did not address the savings to the City and made no financial argument why it was necessary to vote to blow a $4.5 million hole in the City’s budget on a straight forward refinance.
The Administration has already gone on record saying they will respond to a hole being blown into the budget by MORTe with City layoffs.  
MSV in its exclusive premium content noted that a high level source said, “everything is on the table” to meet any potential $4.5 million budget gap needlessly created, including police and fire.
Council members Dave Mello, Tim Occhipinti and Jen Giattino
Talking Ed Note: Councilman Tim Occhipinti acknowledging lower interest rates on a refinance midtown garage would be beneficial.  It’s not clear why Occhipinti then followed by voting against the ordinance on first reading.
During New Business Councilwoman Terry Castellano bitterly stated “the sky did not fall” with the hospital sale close now set for Friday and not talking place Tuesday as originally stated by the mayor.  
Mike Russo had earlier mocked the hospital’s situation similarly at the previous special meeting last Tuesday with, “the sky is falling, the sky is falling” when the parking agreement’s going into effect immediately was shot down by (MORTe) – Mason, Occhipinti, Russo and Terry Castellano.
That action by MORTe caused the original closing date last Wednesday to be missed.
Councilwoman Beth Mason has brought back the cameraman filming the council meeting.  We’ll see what footage she edits with the usual package of lies for the next political operation she launches on the fascist website Hoboken411 where free speech is never allowed.  
That’s the way she likes it.
Next: Evidence of MORTe’s lies on their “agreement” with Holdco.

Mason411 update: Grafix Avenger has a story on a legal threat brewing against Beth Mason’s cyber smear merchant Perry Klaussen.  MSV can confirm the accuracy of her report arising against Beth Mason’s sewer shop of horrors, but will not specify additional details at this time:

https://hobokenhorse.com/2011/11/earwitness-news-uh-oh.html

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