State to Hoboken – about the $4.2 million – “Pay up!”

Here’s the second attachment from the Office of the Mayor detailing communication to the City Council on the potential hiring of the new Business Administrator.  The candidate has requested a vote of approval in the City Council before he gives notice.  Can you blame him?

Also, and closing a loop and possibly the final chapter of the Roberts Administration, the erroneous early retirements package that led to the State issuing a $4.2 million bill to Hoboken is due at the end of the month.  If not paid, the City would be paying 10% interest – about $35,000 a month.  MSV feels this should have been an independent release from the Office of the Mayor.  It’s an important issue that played a major role in the current budget and impacted taxpayers in seeing any tax relief for the fiscal year ending June 30th.

State Fiscal Monitor Judy Tripodi had a different vision for handling this issue by bonding it over several years.  Councilman Nino Giacchi in the end agreed with that plan but was cognizant of the majority embracing the “bite the bullet” now philosophy as was MSV.  But this is one of those issues where people can disagree. In retrospect, one can respect the decision although MSV sees an obligation to provide taxpayer relief sooner than later.

With the hiring of a new Business Administrator close at hand, Hoboken will again be able to chart its own future.  Fiscal State Monitor Judy Tripodi performed a required and necessary service along with Finance Director Dan Trasente – helping put the town on a solid footing for years to come.  Much has transpired since Hoboken relinquished control over its finances to the State.  The changeover to independence is not far off now.

Let the mayor’s administration accountability begin.

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