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Reader Worries Ridgewood’s AAA Credit Rating Could be At Risk

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file photo by Boyd Loving

Based on previous building projects managed by the Village ($500K Golden commodes anyone? ) this garage project will be delayed repeatedly, suffer numerous expensive “change orders”, and likely cost $20+ million all in by the time its ready (40% of annual municipal budget).It will never pay for itself, guaranteed. Right as interest rates spike and the Village’s S&P AAA rating on our municipal debt is downgraded. Can you say large municipal debt and interest expense increases?