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Edgewater ferry service arrived at “NO COST” to the taxpayers. The Borough of Edgewater received an $8,000,000.00 grant from the Port Authority. Of that $8 million, the total costs associated with the implementation of ferry service are only $4 million, including the canopy. The balance, $4 million went towards the rehabilitation of the Borough’s marina and park – an added benefit to residents. It should be made clear that the implementation of ferry service in Edgewater is an entirely separate matter from the purchase and revitalization of the Edgewater Marina & Park.
Eight years ago, in a move to protect the marina from development, a plan was established to purchase the property and preserve it for recreational and open space. The plan was to acquire the marina for the residents of Edgewater (at a value arrived at by appraisal) and turn it into one of the jewels along the Hudson River. A referendum was placed on the ballot for the taxpayers to consider a tax of .03 cents for every $100.00 of assessed value to assist in the acquisition of the property – the taxpayers approved. This Open Space Tax netted $2.3 million in revenue, which has been applied to the debt of $6.3 million for the acquisition of the marina. The marina project was never purported to be “free”. From its inception, the Borough was always aware that in addition to the acquisition ($6.3 million) of the property, there would be significant costs associated with the rehabilitation of the marina, due to its deplorable condition and its unsightly grounds. The rehabilitation of this prime piece of real estate consisted of, major underwater repairs to its pier, pilings, dock slips, overhaul of electrical work, removal of oil tanks, demolition of a building and dredging. The estimated total cost for the rehabilitation of the Edgewater Marina & Park, would have cost the taxpayers of Edgewater $9.5 million, if not for the $ 4 million in ferry grants we were able to apply to the project. | The total cost associated with Marina & Park | $14,700,000.00 | | Grants received, Green Acres & Open Space | ($4,100,000.00) | | Grant for dredging | ($600,000.00) | | Edgewater approved Open Space tax | ($2,300,000.00) | | Total cost to the taxpayers without Ferry | $7,700,000.00 | | | | | Ferry Grant received from Port Authority | $8,000,000.00 | | Cost associated to establish Ferry | ($4,000.000.00) | | Balance of PA grant to Edgewater | $ 4,000.000.00 | | | | | Total Taxpayers debt before Ferry Grant | $7,700,000.00 | | Applicable PA grant for Marina & Park | ($4,000,000.00) | | Total project cost to Edgewater taxpayers | $3,700,000.00 |
Thanks to the Ferry Project and for far less cost than originally anticipated the Edgewater taxpayers now have a viable marina, a new marina building, a park (open space) and the continuation of the Hudson River Walkway. In addition, after 50 years, Edgewater residents can once again enjoy a 13 minute ride to the greatest city in world, utilizing first-class ferry service that was completely paid for through public grants.
Note: All facts and figures provided in this article are a matter of public record. Maureen Holtje Council President 32 Casta Lane Edgewater, NJ 07020 Phone: (201) 803-7944 |
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