WATCH IT HERE: Hoboken council addresses parking agreement for hospital on Tuesday night

HOBOKEN – The City Council was expected to vote on a new parking agreement said to be crucial to the sale of Hoboken University Medical Center in a Tuesday night special meeting.
According to an analysis provided on Tuesday by the city to The Reporter, the new 99-year lease agreement could increase revenue for the city by approximately $50 million over the terms of the deal, compared to the current agreement. The parking agreement will issue up to 1,000 transponders for hospital employees, which will allow workers to gain access to two city garages on Hudson Street and the midtown city garage connected to the hospital. Because the agreement places hospital employees in the Hudson Street garages, Parking and Transportation Director Ian Sacs said that he would be able to shorten the current resident waiting list for the midtown parking garage. As an effect, more vacant spots will be filled in garages on Hudson Street, and more residents will be paying to park in the midtown garage, leading to a revenue increase compared to the city and hospital’s current agreement.
The parking agreement allows for hospital employees to park for eight hours per day and to pay $45 per month for the first three years of the agreement, and then $65 per month after that time.
However, the resident rate is $185 per month. That rate allows residents to park for 24 hours per day.
Despite questions and published reports about parking leases being limited to 50 years, Zimmer said on Tuesday that the 99 year deal was negotiated by a team of qualified attorneys, and the lease agreement has been “properly vetted.”
The parking agreement is the last hurdle before the transfer of ownership between the city and HUMC Holdco for the hospital can be completed. – Ray Smith

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