Assembly approves borrowing $9 million for waterfront improvements

Assembly approves borrowing $9 million for waterfront improvements

The borough assembly has approved issuing up to $9 million in bonds to pay for waterfront expansion and development work, including a new barge facility. The debt would be paid back from port revenues, not property or sales tax revenues. Assembly members voted unanimously on July 28 to authorize Borough Manager Mason Villarma to proceed with the bond issuance. The borough, however, will not...