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Hudson County commissioners approve financing, lease for Liberty Science Center High School
Summary
The Board unanimously adopted an ordinance authorizing a lease and bond financing with the Hudson County Improvement Authority for a Liberty Science Center High School project, with officials saying the school will serve about 400 students and that municipal land contributions were significant to the deal.
The Hudson County Board of County Commissioners voted unanimously Dec. 11 to approve an ordinance authorizing a lease and development agreement with the Hudson County Improvement Authority and related county consent for up to $76 million in County-secured lease revenue bonds to finance a Liberty Science Center High School project.
The ordinance authorizes the county to enter the lease and guaranty the payment of principal and interest on bonds issued by the Improvement Authority for the project. The board adopted the ordinance following a public hearing; no members of the public testified on the measure at the hearing.
Why it matters: County officials said the project will expand Science, Technology, Engineering and Mathematics (STEM) educational capacity in Hudson County. Alicia Abraham, the Schools of Technology representative who spoke at the meeting, said the school is planned to accommodate about 400 students. In the meeting, Commissioner William O'Dea also noted the value of municipal contributions, saying the City of Jersey City donated land to the project and estimating that contribution at about $15 million; he framed that donation as a material share of the overall project cost.
Commissioner William O'Dea said, "When you include land into the cost of this project, which I estimate at about $15 million, which was donated through the City of Jersey City... that's a substantial share of the project." Alicia Abraham confirmed the student capacity: "It's 400."
What the ordinance does: It authorizes (1) execution of a lease and development agreement with the Improvement Authority for the Liberty Science Center High School project; (2) a lease agreement with the Hudson County Schools of Technology for STEM services; (3) the county's consent to bond financing by the Improvement Authority in an amount not to exceed $76,000,000. The ordinance was presented with materials the board said were posted and filed in accordance with local notice rules.
Board action and next steps: The board adopted the ordinance on final reading, with no recorded opposition. Commissioners did not request further hearings; staff will proceed with the agreements and bond-closing steps through the Improvement Authority and the Schools of Technology. The board did not provide additional fiscal details about the structure or the schedule for bond issuance in open session.
Context note: Commissioner O'Dea placed the value of the city-donated land on the record as an estimate; that figure was stated by the commissioner during debate and was not accompanied by a staff fiscal exhibit in the public record at the meeting.
