Ridgewood Council Approves Bond Agreement For Parking Garage

RIDGEWOOD, NJ - The Village Council, after months of debate and a referendum vote in November, approved a bond agreement Wednesday to build a five-level parking deck on Hudson Street.

The bond agreement means that bonds for the controversial $11.7 million project would be repaid over the course of 25 years. Annual payments ranging from $678,000 and $694,000 will be made for a net debt service of about $17.2 million.

Mayor Paul Aronsohn, Councilwoman Gwenn Hauck, and Deputy Mayor Albert Pucciarelli cast the three approving votes. While Councilwoman Susan Knudsen and Councilman Michael Sedon voted against it.

Knudsen said she had some concerns about moving forward with the project and the BCIA agreement.

“Maintaining ownership and absolute control is important to the success of this garage,” Knudsen said.

The garage was slated to have 400 parking spaces, but concerns about street parking addressed by members of Our Lady of Mt. Carmel Church made officials rethink the size of the deck. The final design will have room for 325 vehicles.

Officials said they are still determining how many parking spaces will be for residents, non-residents, and commuters.