At the West New York Board of Commissioners meeting on Oct. 15, two bond ordinances were adopted that finance various improvements, including to the parking utility. The ordinances authorize the issuance of bonds to finance the costs not covered by grant funding.
Commissioners Victor Barrera, Cosmo Cirillo, Margarita Guzman, Yoleisy Yanez, and Mayor Gabriel Rodriguez voted unanimously to approve the renovations.
Bankrolling the upgrades
The capital improvements total $6,825,000.
The ordinance bonded $4,527,880 to cover part of the estimated cost. The rest will be financed by various grants totaling $2,297,120.
A total of $514,500 in Green Acres grant funding is expected to be received from the New Jersey Department of Environmental Protection and the Garden State Preservation Trust.
Funds are expected to include $757,980 from fiscal year 2019, and $828,390 from fiscal year 2020 Municipal Aid Grants expected to be received from the Department of Transportation.
The town will put several down payments from the Capital Improvement Fund to finance the improvements for a total of $196,250. For bond ordinances, a down payment of no less than five percent must be appropriated to help finance the total cost.
A better Bergenline
The ordinance primarily finances streetscape improvements to Bergenline Avenue from 57th Street to the Guttenberg border for an estimated $1,7000,000. The town bonded $1,615,000 for the improvements with an $85,000 down payment from the Capital Improvement Fund.
In August, West New York announced its Bergenline Avenue Revitalization Project, including street and sidewalk resurfacing from Bergenline Avenue and 49th Street to Bergenline Avenue and 56th Street. This ordinance finances improvements for the rest of Bergenline Avenue in West New York, from 57th Street to 67th Street.
A major expense is $2,000,000 for reconstruction and resurfacing of various streets and roads. A total of $1,586,370 in federal grants will go toward the cost of the resurfacing. The town bonded $413,630 to finance the remainder of the cost.
Town-wide improvements
The ordinance finances improvements to the Port Imperial walkway for an estimated $900,000. The Green Acres grant will fund $514,500 of the cost. The town bonded $385,500 to finance the rest.
Also financed is the acquisition of motor vehicles, other than passenger cars and station wagons, including SUVs for Department of Public Works and other municipal services for an estimated $550,000. The town bonded $522,500 to finance the acquisition, with a down payment of $27,500 from the Capital Improvement Fund.
The ordinance bonds $470,000 for improvements to various streets including road markings, sidewalk repair, and tree removal. The town bonded $446,500 and put a down payment of $23,500 from the Capital Improvement Fund to cover the cost.
Improvements to municipal buildings, including EMS roof replacement, Police Department facility enhancement, and court repairs will cost an estimated $450,000. The town bonded $427,500 to finance the improvements, putting a down payment of $22,500 from the Capital Improvement Fund.
Ongoing parks renovations
The bond ordinance allots $420,000 for improvements to parks. The town bonded $399,000 and put a down payment of $21,000 from the Capital Improvement Fund to cover the estimated cost.
The new improvements will accompany park renovations already underway at Miller Stadium and Patricia McEldowney Field. Centennial Field recently reopened after being refurbished under Mayor Rodriguez’s plan.
The ordinance finances the acquisition of information technology and telecommunications equipment, including items with a unit cost less than $5,000. This includes enhancements to municipal operations, servers, and associated computer equipment for an estimated cost of $160,000. The town bonded $152,000 to cover the cost in addition to an $8,000 down payment from the Capital Improvement Fund.
Site remediation at the Department of Public Works Building will cost $100,000. The town bonded $95,000 and put a down payment of $5,000 from the Capital Improvement Fund to finance the cost.
The ordinance covers a fuel system upgrade at a cost of $75,000. The town bonded $71,250 to cover the estimated cost, as well as a $3,750 down payment from the Capital Improvement Fund.
Parking utility rehabilitation
The second ordinance adopted bonded $750,000 to cover the estimated cost of parking utility improvements. No down payments are required because the improvements are considered self-liquidating, or will earn back the cost over time.
The rehabilitation the 62nd Street Garage includes repairs to the stairwell, power inverter, camera infrastructure, sealing, including all work and materials. The rehabilitation will cost an estimated $475,000.
The ordinance financed the acquisition of license plate readers for an estimated $165,000, and online permitting software for an estimated $30,000.
The ordinance financed the acquisition of motor vehicles, other than passenger cars and station wagons, for the parking utility without limitation. This includes SUVs and other vehicles for an estimated cost of $80,000.
The next Mayor and Board of Commissioners meeting will be held at 6:30 p.m. on Nov. 18 via Zoom. For more information, visit westnewyorknj.org and click on the event on the calendar.
For updates on this and other stories, check www.hudsonreporter.com and follow us on Twitter @hudson_reporter. Daniel Israel can be reached at [email protected].
