I-Team Investigates: Hoboken Municipal Garage plan
(11/05/04) HOBOKEN Hoboken Mayor David Roberts wants to solve the citys budget deficit with a plan some critics call illegal.
Roberts wants to sell the Hoboken Municipal Garage to the Hudson County Improvement Authority for $9 million, then lease the facility back. The money gained from the sale would help close the $12 million Hoboken budget gap.
Critics have come out against the plan, saying it is against the law. Officials say municipalities can only sell land that is not needed for municipal purposes. However, opponents of the plan say the garage is clearly needed.
Critics also say the plan essentially boils down to the city loaning itself money, which is also illegal.