the staff of the Ridgewood blog
Ridgewood NJ, after years of debate the Village of Ridgewood erected a parking garage on Hudson Street .While critics argued the numbers just didn’t add up , merchants and commuters rejoiced. Parking rates were increased to close the funding gap and kiosks were added to better maximize parking revenue .
Then the COVID pandemic hit and altered the way of life in the Village with more people embracing remote work , and lockdowns shutting down businesses in the Central Business District , temporally decreasing the need for parking .
Now the Village sits with a mostly empty, “White Elephant” with little chance of maintaining its investment . In recent communications some readers mentioned naming rights, like Metlife Stadium, Citfield or Prudential Arena as a way to close the financial gap once again.
That effort will be another example why governments should not be in the business of owning businesses. What foolish business would want ti have their name on such a white elephant? Guilt by association would taint the best intentions.
While we are at it, let’s see if we can get a sponsor for the Covid Pandemic.
Not a bad idea….how Paulie’s Folly ?
They should not be land lords either. Get rid of the money pit gate house