Tonight at their Caucus meeting, the Jersey City Municipal Council considered a resolution in support of an application for a New Jersey Environmental Infrastructure Trust (NJEIT) loan that would provide funds for the City to acquire the open space portion of the Harsimus Stem Embankment. There were many comments indicating it may not pass at Wednesday's Council meeting, unless there is a public outcry.
The NJEIT loan would provide almost $5 million to the City, 75 percent at NO INTEREST and 25 percent at lowest market-rate interest (about 1 percent), for twenty years. The loan would provide instant money that can be repaid by reimbursable grants already raised ($3.2 million), a pledge ($500K), and additional highly likely grant monies.
What you can do
Please call the following Council people between NOW and Wednesday, March 14, 5 p.m., and ask them to support the loan application. If you are pressed for time, skip Council President Vega and Ward E Councilman Fulop, who are expected to support the application.
Council President Mariano Vega, Jr., 547-5268
Councilwoman at Large Willie Flood, 547-5134
Councilman at Large Peter Brennan, 547-5319
Ward A Councilman Michael Sottolano, 547-5098
Ward B Councilwoman Mary Spinello, 547-5092
Ward C Councilman Steve Lipski, 547-5159
Ward D Councilman William Gaughan, 547-5485
Ward E Councilman Steven Fulop, 547-5315
Ward F Councilwoman Viola Richardson, 547-5338
Suggested remarks to make to the Council people:
Please support Resolution 10.j. supporting an NJEIT loan application for the Embankment.
The City must be ready to acquire the Embankment when the Surface Transportation Board rules. This loan provides instantly available funds that can be reimbursed by awards and pledges already made and highly probable.
The Council does not have to accept the money. This application keeps options open.
Any increase in the City's debt ceiling is insignificant, considering the short period the City would use the loan before repaying it with grants.
When the STB rules (any day now), the City must act with the money it has (open space), not the money it wants but does not have now and may never have (light rail).
The Council directed the Administration to pursue acquisition. It should support loan and grant applications for acquisition, not weaken the City's ability to acquire the Embankment.
Questions? Contact:
Jennifer Meyer
Embankment Preservation Coalition
email: jmeyer@embankment.org
web: http://www.embankment.org