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Ridgewood council accepts GIF loan, authorizes emergency appropriation and introduces bond ordinance for Shedler soil remediation
Summary
The council approved a consent package to accept a joint insurance fund loan and settlement, authorized an emergency appropriation totaling $1.6 million for soil remediation at the Shedler property, and introduced bond ordinance 4088 on first reading to finance part of the work (hearing set for March 25).
The Village Council voted March 4 to accept joint insurance fund assistance and to authorize emergency funding for soil remediation at the Shedler property, actions the council said are intended to allow immediate work while the financing and accounting mechanisms are put in place.
Clerk Jennifer read three consent resolutions by title and the council approved them in a single motion. The package included (per agenda text) an amendment to the temporary capital budget, acceptance of a Bergen County GIF insurance fund loan and settlement of a claim, and authorization of an emergency appropriation for the Shedler property soil remediation. Councilmembers Mortimer, Perin, Whites and Mayor Vaganos recorded “yes” votes; Councilmember Winterrad was absent.
The council then introduced Ordinance 4088, a bond ordinance that the agenda describes as appropriating $1,600,000 for soil remediation at the Shedler property and authorizing the issuance of $1,350,000 in bonds or notes to finance part of the cost. Council moved to adopt Ordinance 4088 on first reading and set a public hearing for March 25, 2026. The same four councilmembers voted yes on the first-reading motion.
Village staff and the manager explained the financing steps: a $250,000 claim payment is expected from the GIF, and an additional GIF loan would cover remediation financing while the village establishes the capital account and the bond ordinance mechanism. The manager said the bond or capital ordinance is largely procedural — a means to create the accounting and disbursement mechanism required to accept and spend the GIF funds.
Public commenters asked for clarification on why the village is using loans and GIF funding rather than other grant sources and urged that statutory waiting periods and posting requirements be observed before funds are committed. Staff responded that the village has been working with bond counsel and the GIF and that other remediation funding applications (including state remediation or Brownfields programs) are being pursued but have not produced confirmed offsets as of the meeting.
What happens next: the bond ordinance is on first reading and is scheduled for a March 25 public hearing; council will need to complete any additional bond-adoption steps and follow statutory waiting periods before borrowing and committing funds for remediation work.
