Budget shortfall
May 22, 2013 | 1883 views | 0 0 comments | 25 25 recommendations | email to a friend | print
To the Editor:

In the May 1edition of the Bayonne Community News, I read the City of Bayonne came to an agreement with the Port Authority for a PILOT program to pay $1.1 million to the city per year for the Global Terminal properties that are on the Bayonne side. Let’s remember Bayonne's elected officials sold out Bayonne's last hope to the Port Authority a few years ago because they were desperate for money to cover the budget shortfall so they just did a fire sale. The last big major payment from the deal has been paid this year, and all we will be getting is $5 million every year for 40 years. The NY/NJ Port Authority pays absolutely no taxes. These are just band aids for this city to fix their over spent budget. This is a constant problem time and time again. So what’s the mayor and City Council going to do to cover the rest of the budget shortfall that's not covered by the Port Authority’s payment?


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