The post Hudson Bike Share Announces Expansion of Program to Five More Cities first appeared on River View Observer.

Standard & Poorâ€s Global Ratings recently reaffirmed Hobokenâ€s AA+ bond credit rating, the second highest rating it issues. S&P noted Hobokenâ€s “very strong economy,” “strong budgetary performance,” “very strong budgetary flexibility,” “conservative approach to financial management” and “prudent financial management practices” which “continue to result in increased reserves each year.” “Improving Hobokenâ€s credit rating from just above junk bond status to AA+ is one of my proudest accomplishments,” said Mayor Dawn Zimmer. “Working with the City Council to pass responsible budgets, we are now on a strong financial footing, allowing us to invest in our infrastructure and build a second flood pump, renovate Washington Street, install backup generators for our first responders, create new parks that alleviate flooding, upgrade our water main system, and much more. Staying on this fiscally responsible course will allow us to continue to make the investments we need, including millions of dollars annually to upgrade our water system.”   The improved bond rating results in tangible savings for taxpayers. Last week, the City issued $11.3 million in bonds which, based on industry data, could have cost more than $750,000 more in interest over the life of the issue with the prior bond rating.   In 2008, Moodyâ€s issued a Baa3 rating (the S&P equivalent of BBB-), one notch above junk bond status, to hospital bonds guaranteed by the City of Hoboken. Moodyâ€s cited the Cityâ€s “significant deferred charges, annual cash flow borrowing, and a history of financial mismanagement.” That same year, the State of New Jersey appointed a fiscal monitor to take over management of the City. By 2013, as a result of the success of the financial overhaul implemented by the Zimmer Administration and City Council, S&P upgraded the City to its second highest credit rating, a AA+ rating. For full details, view this message on the web.

The post Standard & Poor’s Reaffirms Hoboken’s AA+ Credit Rating first appeared on River View Observer.

 Dear Residents,
 Tonight the City Council will consider an important vote to authorize the use of eminent domain to acquire the 2^nd acre of property for expansion of the Southwest Park and for the application to Green Acres for a grant to buy the land.
 
Since all of Hoboken is concerned about traffic, open space, overdevelopment, and taxes, I am writing to provide some information on this important project because unfortunately, Academy Bus has chosen to completely misrepresent the facts surrounding this issue. Hereâ€s some information for you to consider:
 
Park funding is available with no tax increase: The City has an Open Space Trust Fund, approved by the voters by a 3-1 margin in a public referendum in 2007, that is set aside exclusively  for park land acquisition and park construction. This fund currently has a balance of $7 million, and approximately $2 million is added to the fund each year. This fund, by itself, provides a bonding capacity of $69 million. This is enough to fund the debt for the purchase of the NW resiliency park as well as the two acres in the Southwest, without ANY increase in taxes. 
 
“Free park” is code word for OVERDEVELOPMENT: If Academy wants $13 million for one acre when we purchased the other acre for $4.5 million, then how much development will they want for all the acreage they own in the Southwest? By how much will the development profits received in exchange for our “free” park exceed the fair market value of the property? Nothing is free, and what they are really proposing is to overdevelop our neighborhood so they can receive a financial windfall in exchange for a supposedly “free park.”
 
Please donâ€t be fooled, and please help to send a strong message to the Council and Academy that our community wants this acre of expanded park with NO connection to a development project (See the attached letter to property owners that gives an overview of the rehab process to date).
 
Some have tried to compare this to the project at 7^th and Jackson, but there is no comparison. In the case of 7^th and Jackson, there was a preexisting redevelopment plan dating back to 1998 with an already approved level of residential density. The agreement that provided for 2 acres of open space did not provide for any additional residential density – all it did was consolidate the permitted density onto one parcel to allow for 2 acres of open space. A long-term tax abatement was used to make givebacks possible, including buildout of a gymnasium and the inclusion affordable housing units. In the case of Academy, on the other hand, they are asking for additional density that does not have any approvals. In addition, their property is within a Rehabilitation Area rather than Redevelopment Area, which does not allow for the use of long-term tax abatements.
 
Eminent domain: This is a legal tool that ensures the City can purchase the property for a fair price. If the City Council authorizes acquisition by eminent domain tomorrow night, we will keep working in good faith, as we have been for the past year, to negotiate a purchase price for the property based on land appraisals. If an agreement cannot be reached, then we will ask for assistance from the courts. The claim made by Academy that it could take years of litigation to acquire the property through eminent domain is a blatant misrepresentation of the facts. In fact, if good faith negotiations fail, the City could immediately take title of a property after filing condemnation documents with the court. The park could then be built immediately, or we could use the property as a pop-up park while the permanent design is completed, without waiting for the courts to finalize the purchase price. Determining the final price could take the courts months or years, but that would not slow down the process of acquiring the property and building a park.
 
I look forward to seeing you at the City Council meeting tonight. It is crucial that your voices be heard so everyone understands clearly that this is something that the community strongly supports for our City.
 
Thanks very much for working to create an expanded Southwest park and prevent overdevelopment.
 
Dawn Zimmer

For full details, view this message on the web.

The post Hoboken Mayor Zimmer letter to Residents Regarding the Southwest Park first appeared on River View Observer.

On  Friday,November 19,  Mile Square Theatre staff and trustees shared a momentous occasion for the arts in Hudson County with an excited group of stakeholders. Leading the way with a ceremonial groundbreaking was MST Trustee President Zabrina Stoffel, MST Education Director Chase Leyner, Hoboken Mayor Dawn Zimmer, and Hudson County Freeholder Anthony Romano.

Mile Square Theatreâ€s new facility is designed by Nastasi Architects and is being built by Sabia Construction. Itâ€s scheduled to open in March, 2016. MST Education programs will operate from the new facility, and the company will soon announce its first season of plays at the Artisan.

Also on hand at the groundbreaking were Hoboken Cultural Affairs Director Geri Fallo, Larry Bijou, Larry and Diana Henriques, Mark Villamar, Clark Machemer, Bayonne Community Bank’s Tom Coughlin, Joseph Javitz, and Kenny O’Neill, and Clifton Savings Bank’s Tricia Hrotko. Other MST participants were Trustee Jeanne Bossolina-Lubin, MST Managing Director Lauren Ciborski, MST Playwright-in-Residence Joseph Gallo, and MST Artistic Associate Mark Cirnigliaro.

Mile Square Theatre (MST) is the leading professional Equity theatre in Hudson County. Under the artistic direction of founder Chris Oâ€Connor, MST presents full-scale productions for adults and children, in addition to providing theatre education programs and the MST Dance Academy.

Photo credit: Joe Epstein

Media contact: Chris Oâ€Connor 646.271.6557 • chris.oconnor@milesquaretheatre.org

For company information, please visit www.milesquaretheatre.org.

This program is made possible in part by funds from the New Jersey Council on the Arts/Department of state, a partner agency of the National endowment for the arts and by funds from the national endowment for the arts, administered by the Hudson county office of cultural & heritage affairs, Thomas A. Degise, County Executive, and the Board of Chosen Freeholders.

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