BCIA RIDGEWOOD PARKING FINANCIAL SUMMARY
This document produced by BCIA Professionals contrasts BCIA County Guaranteed Financing with Village of Ridgewood Stand Alone Financing for debt associated with the Parking Deck Project. Please note that the estimated differential between the two scenarios has changed since last week, due to changes in BCIA issuance costs amended by the BCIA on Friday, January 29, 2016. Now, there is an estimated differential of $22,248 which averages less than $900 per year. Click Here for the document.
DESMAN HUDSON STREET DECK DRAWINGS – 1/29/2016
These drawings represent the site plan, floor plan & building sections for the revised design of the Deck at Hudson Street. This Deck design was first considered in October 2015. There will be 325 parking spots. The height to the roof is approx. 43′ and 46′ 8″ to the parapet. Click Here for Drawings
I’m not any sort of financial analyst, but it seems like going to the bcia is a whole lot more expensive than $2,200. based on the additional fees.
One does not have to be a financial whiz to understand that this stinks.
What an abuse of money and power. Whether you are for or against a garage the BCIA should not be used unless funding is unavailable or they can provide a significant cost savings to taxpayers such that their control and enforcement is with the price. This is not that, this is a design dispute. I suggest any council member not seek re-election if they are so incompetent to not find agreement with other elected officials.
In the end, the GARAGE will end up costing the village residents $16 million over 25-years or $49,230 per parking space.
S. Faraz, only half of the spot will be ‘new spots for CBD’, rest are either already existing or will go to county commuters. So, it’s 49230*2 = 98460$ per new spot.
The plan shows a fifth level. I thought the compromise was to go back to three levels? What am I missing?
Re: “The plan shows a fifth level. I thought the compromise was to go back to three levels? What am I missing?”
You are missing that the three amigos don’t give a sh*t about you or any of the other residents and that this is a done deal… bonding approved. garage approved. Done. Done. Done.
Where is Mount St Carmel and the other churches with all this.If they drank the coolaid there will be a lot of regrets staring into that Dark Star every day from their lookouts onto Hudson Street ; and the traffic impacts to their events funerals and weekly education facilities around the block,
to 3:26pm
Thanks for clearing that up! I guess I just spaced out for a moment because, sadly, that makes perfect sense…
Pure insanity. Paul, Albrrt and Roberta, you are making an historic mistake and this is how you will be remembered
Wonder what happened to the funds raised from the last municipal bonding to build a garage that was never built in Ridgewood? We’re still paying interest on that boondoggle as well, so add that to the cost of this garage. What a complete white elephant. It won’t be $16 million, it will be $20 million after all of the “change orders” needed to fund Bergen County’s graft and corruption. The Village couldn’t build a sand castle without delays and cost overruns.
Don’t forget Gwen 5:18. She is right there with them on the garage.
They Got brass
2:38pm-
The “compromise” Paul agreed to was Plan C, which had 4 levels / 3 “stories”, with the “roof” being the 4th level. But that plan had the big extension into the street.
Thus, the trade off between height and width. Personally, I’d be more bothered by the street encroachment than the height. So the taller, narrower garage seems like a decent compromise.
Except that it is still in the street John V! The need the street because the space is not big enough.
We are taking a loan from Bergen County Improvement Authority, without a plan to repay the loan.
Still in the street. Still super tall. No good.
8:07pm-
Correct, it’s a pretty narrow lot, thus still takes over some of the street, though not as much as previous design.
Stupid is as stupid does. This is epic stupidity
The Town Management is counting on the public’s issue fatigue on this whole project, wearing out the patience for examination of alternatives in any open forums.
One other observation, I read the plan, the total height including the parapet is 43′ 9″. However, the plan does not show the towers which have to add another 8′ to 12′ to the overall height. Are the towers still included?
Taller is no good. Still towering over Mount Carmel and the surrounding stores. Horrible
Where is Mount St Carmel and the other local churches in all this.
MIA is forever once they bond this monstrosity.Churches for centuries lead public issues like this important one.
I think the tower is a given, included in all cases, because it houses the elevator.
11:50, what is that information missing from the ridgewoodnj.net web site then?
To 1:22pm
I was offering my two cents in response to S.Frapz’s question:
S. Frapz February 3, 2016 at 9:47 am
One other observation, I read the plan, the total height including the parapet is 43′ 9″. However, the plan does not show the towers which have to add another 8′ to 12′ to the overall height. Are the towers still included?
The total height is 43′ to the parapet is 46’8″, which is deceiving. Basically the height is 46’8″. The question of how high the towers are could not be answered. The visuals of what it looks like were not ready, the simulations of what it would look like in the streetscape of the other buildings was not ready. The financials were not available before the vote (the financials only have since been put on website. The immediate neighbors had not been consulted or shown the new design. The encroachment into Hudson street was unknown, but the public was told it would be no more than 5ft. All of these things were not ready, but Paul, Al & Gwenn were ready to vote on this. Please remember how they are spending our money without any due diligence or fiscal responsibility.
10:47pm.. that’s all soft cost as per Albert. What 200 high school parent’s collected with 5 week’s 5 hour a day effort in last 5 weeks – that’s the exact amount which Al and Roberta spent in change orders by ordering the architects to continue with the construction documents of plan A, while they were still telling everyone that Plan A is not final.
Why did they act irresponsibly and ordered construction documents when Plan A was not final (this is Oct, before the vote).