HOBOKEN — This past Wednesday, a resolution authorizing the city to issue $11.9 million in bond notes for a flood pump’s construction fell one vote shy of the six affirmative votes on the nine-member City Council to move forward. The pump would help alleviate flooding in northwest Hoboken.
The pump will primarily be funded through an $11.9 million low-interest loan from the New Jersey Environmental Infrastructure Trust (NJEIT). The bond notes considered Wednesday required a two-thirds majority for approval because they will be sold directly to the NJEIT and the state as part of the loan process.
In light of two absent council members, Mayor Zimmer called a special City Council meeting to reconsider the bond resolution on Monday, Feb. 23 at 7 p.m.
According to Business Administrator Quentin Wiest, the city is not at risk of missing a looming deadline due to the delayed bonds, but the Zimmer administration does not want to let the pump project lag.
Read more on this story on the cover of this weekend’s Hoboken Reporter.