Thursday, August 25, 2011

City of Hoboken Settles Municipal Garage Lawsuit


The City of Hoboken and SHG announced today that they had reached an agreement to settle pending litigation arising out of the termination of the purchase and sale agreement relating to Hoboken’s Municipal Garage. The settlement provides for return to SHG of their $2,550,000 deposit, which has been held in escrow since the original agreement was entered into on June, 2008. Each party will bear its own legal fees and costs incurred in connection with the transaction and ensuing litigation. In addition, as part of the settlement, SHG would waive its claim for a return of its $200,000 redevelopment fee.

“This Agreement will allow the City of Hoboken to move forward with its long term plan to relocate the Municipal Garage to a non-residential area,” said Mayor Dawn Zimmer.

Both Hoboken and SHG hold each other in high regard and may work together on future projects, including the Municipal Garage.

My Comment: So much for the hyperbole of Mason political operative and alleged ghost writing minion of Hoboken 411 Lane Bajardi, who repeatedly and belabored the point that Zimmer was costing the City $25 million dollars. The only cost incurred was the legal fees that the city had to spend and SHG appropriately got their deposit back. While the Mayor's handling of the garage issue was far from perfect we now have a garage until a better site can be located. Not one member of the "loyal opposition" came up with a workable alternative to the current site. Not one. The City may hold SHG in high regard but I sure won't until they can demonstrate they can enter into an agreement with the city that doesn't land up in court.