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Jersey City Obtains More Favorable Terms on $105M State Loan to Close Deficit
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Jersey City Obtains More Favorable Terms on $105M State Loan to Close Deficit
The burden of the city’s $105 million state loan on taxpayers will now be spread out over a longer period of time, local officials announced Wednesday afternoon. In a joint press release, Mayor James Solomon and the City Council said that the historic loan will be repaid over 16 years, versus the originally agreed-upon ten years, […]
Jersey City renegotiates terms of $105M state loan, including 16-year repayment
The City of Jersey City has renegotiated the terms of their $105 million state loan, which includes repayments lasting for a 16-year period instead of 10, and no money due until 2028. By John Heinis/Hudson County View “During a time when Jersey City taxpayers are being asked to address the mismanagement of the previous mayor, […]
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