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Council approves $36.3 million bond ordinance for Maritime Park and 800 Monroe resiliency park; debate over parks versus schools
Summary
Council passed a bond ordinance funding Maritime Park, 800 Monroe resiliency park and related capital work, prompting debate about park spending, grants and alternative priorities such as school capacity and paving.
The Hoboken City Council approved a bond ordinance appropriating funds for a set of capital projects including Maritime Park and the 800 Monroe Resiliency Park. The ordinance allocates roughly $36.34 million for various capital work; the council and staff explained the net debt issuance contemplated after anticipated grants and developer contributions.
Director Gonzalez outlined the project phasing and funding. She said Maritime Park’s estimated project cost is about $14.8 million with an anticipated municipal debt issuance of…
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