Since it’s otherwise against state law to borrow to fill holes in a municipal budget, the city is relying on a 2020 law that makes an exception for COVID-related losses The city administration said i
t is going the borrowing route instead of biting the bullet in the upcoming budget plan so it can spread the resulting property tax pain over several years, at about a 2 percent increase each year
We’ve found fault with Mayor Steve Fulop and his administration over the years for a lack of transparency, and this is yet another disturbing example Surely, Fulop was aware at the time that the city was facing a $92 million shortfall and that he intended to invoke a plan that, while it appears on its face to be the most prudent in the short term, nonetheless kicks the can down the road and into the lap of the next mayor of Jersey City Actually, the plan was no doubt already before state officials for their blessingWith the COVID state of emergency no longer in effect, the now-or-never pressure to take advantage of a one-time exception to...
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