Officials balk at plans for affordable housing and pensions
Thursday, January 15, 2009 BY MARYANN SPOTO Star-Ledger Staff
A day after delivering a somber analysis of the state's financial woes in his State of the State address, Gov. Jon Corzine told mayors yesterday they should expect less state aid in his next budget.
The mayors, in turn, unleashed their frustrations at proposed affordable housing initiatives they said will hinder their efforts to reduce spending and craft balanced budgets. Some criticized Corzine's plan to allow them to skip pension payments, a move supported by the state League of Municipalities.
"We are in a crisis, in an emergency, with regard to our financing," Corzine told more than 100 mayors and council members at the league's annual Legislative Day. "This is not ordinary times, and if we continue to act as if it is, we are going to end up having problems that I think are much greater."
Click here to read the full article on NJ.com....
My commentray: With the contract negotiations for the Hoboken Municiapl Unions comming up, all parties at the negotiating table should pay heed to the fact that the subsidies from NJ could be less this comming year and factor that in to negotiations. If they don't there could be further budget shortfalls and tax levies. Municipal Governments can't print money. ◦
