Last night, the Hoboken City Council voted unanimously to authorize Mayor Ravi S. Bhalla the use of eminent domain to acquire Union Dry Dock for the purpose of a public park. Mayor Bhalla and his administration will now begin negotiations with New York Waterway to amicably agree upon a potential acquisition price for Union Dry Dock. If the administration and New York Waterway are unable to come to terms, the City can purchase the property through the use of eminent domain for the price of $13.1 million, if New Jersey Transit does not acquire the property first.
"Hoboken is now one critical step closer to achieving our decades long dream of a public, waterfront park at Union Dry Dock," said Mayor Bhalla. "We cannot, and will not give up this opportunity to create a contiguous waterfront our children can enjoy for generations to come. I want to extend a special thank you to the many residents and community groups who have made their voices heard throughout the process, as well as the City Council for their unanimous support. I look forward to beginning good faith negotiations with New York Waterway to acquire Union Dry Dock in a process that is fair to both parties."