On the agenda is the proposed settlement agreement on the Monarch Project with Applied, re: the Barry family. The City is looking to end the litigation by trading on higher density moving dozens of proposed units to west Hoboken at 800 Monroe.
At the last City Council meeting, dozens of Hoboken residents rose in opposition to the proposed settlement announcement displeased in what they conclude as caving in to the illicit actions of Applied and urging the Hoboken City Council to vote against it.
The proposed settlement has opened a sore spot for Hoboken residents opposed to over development. Many have voiced strong concerns about the increasingly bad situation with local traffic especially driving in and out of Hoboken during peak periods among other quality of life issues.
A petition begun after the City's proposed settlement announcement has obtained close to 600 signatures, most of them Hoboken residents in opposition from a new community group named HARMED, Hobokenites Against Radical Massive & Massive Egregious Development.
The announcement stated Hoboken could incur another million in litigation costs and that the outcome against Applied is "uncertain."
Hoboken residents on the whole are furious with the idea of capitulating to Applied. Also known as Ironstate Development, the Barry family reneged on a development deal with Hoboken after making millions in profits on the uptown Shipyard complex refusing to build tennis courts and parking as the original contract called for with the City of Hoboken
The Barry family is litigating the City of Hoboken seeking to build two towers on a pier in the northeast corner called the Monarch Project. They own a property at 800 Monroe and seek over 70 additional units at that location which would offset the tens of millions in profits deferred in the Monarch Project's cancellation.
|The uptown office of Applied, re: the Barry family.|
Talking Ed Note: Tonight's City Council meeting is scheduled for 7:00 pm. Members of the public can sign up on the resolution scheduled for a vote among eight members of the council. Councilwoman Tiffanie Fisher, a resident of the Hudson Tea Building has recused herself.
Five votes approving the proposed settlement are required for passage.