BAYONNE – The Bayonne City Council is expected to take the next step at its June 19 meeting to abolish the Bayonne Local Redevelopment Authority.
The BLRA's primary duty was to oversee the development of the former Military Ocean Terminal. But since the city sold most of the 432-acre site to the Port Authority of New York and New Jersey and other entities over the last years, the BLRA has largely lost purpose. The move will seek approval from the state Board of Local Finance to absolve some of the BLRA’s debt. Pending state approval, the council is also poised to pass a $75 million bond.
This ends a nearly 20-year project that had originally proposed the construction of a small city of residential and other high-end development on the site. The property will largely be used to support container freight operations.