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Mayor and Council May Refinance $10.5 Million in Bond Debt, Approve Developers Agreement

On the agenda: The open portion of the Fort Lee Mayor and Council executive session starts at about 8 p.m. Thursday.

There are five resolutions upon which the borough’s governing body could to take action Thursday and one public hearing on the Fort Lee Mayor and Council’s executive session agenda.

When the meeting reopens to the public at about 8 p.m., Council members may vote on resolutions that would approve a developer’s agreement for development on Hudson Terrace and the details of refunding as much as $10.5 million in general obligation bonds, as well as awarding a bid for more than $105,000 for a new loader backhoe, among others.

The public hearing is on the ordinance that would refund “all or a portion of” the $10.5 million in bonds from 2005.

Here’s a quick look at the agenda for Thursday’s executive session of the Fort Lee Mayor and Council:

General Discussion

  • Approving Developers Agreement with V&R Developers at 2103 Hudson Terrace
  • Liquor License Transfer from New Bang’s Kitchen to Baden Fort Lee Inc. at 799 Abbott Boulevard
  • Approving the Form and Other Details of Not to Exceed $10,500,000 of General Obligation Refunding Bonds of the Borough
  • Discussion of Bids for New 2012 Loader Backhoe
  • Proprietary Bid for Police Department Service Weapons

Resolutions (Action is expected or may be taken)

  • R-1 - Approving Developers Agreement with V&R Developers at 2103 Hudson Terrace
  • R-2 - Approving Person-to-Person/Place-Place Liquor License Transfer from New Bang’s Kitchen at 1355 16th Street to Baden Fort Lee Inc. at 799 Abbott Boulevard, Suite 1
  • R-3 - Approving the Form and Other Details of Not to Exceed $10,500,000 of General Obligation Refunding Bonds of the Borough
  • R-4 – Awarding Bid to Trico Equipment Services, Inc., Vineland, NJ for a New 2012 Loader Backhoe-$105,394.00
  • R-5 - Authorizing Purchasing Consultant to Prepare Specifications and Advertise for Bids for a Proprietary Bid for Police Department Service Weapons

Public Hearing

  • Ord. #2012-5 – Amending Providing for the Refunding of All or a Portion of Certain General Obligation Bonds, Series 2005 – $10,500,000

For those interested in what the Mayor and Council will be discussing behind closed doors, the Closed Session portion of the meeting includes the following items for discussion:

  • Personnel: Fire Prevention Bureau (JC); Purchasing
  • Contracts: Time Warner Cable Franchise; COAH Affordable Housing Fees; ADP/Action Data (Representatives of Both Companies to Attend)
  • Alcoholic Beverage Law – Municipal Board of Alcoholic Beverage Control

The Fort Lee Mayor and Council executive session begins at 7 p.m., but an immediate resolution to go into closed session is expected; the open portion of the meeting should begin at about 8 p.m. in ’s second-floor conference room.

To download the full agenda for the meeting, click here, or visit the borough’s website.

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