The council’s Chief Financial Officer (CFO) presented an in-depth overview of Hackensack’s financial health, addressing public concerns over the city’s debt levels. Hackensack’s current debt stands at 1.99%, down from 2.12% the previous year. The CFO emphasized that while the city’s total debt is $139 million, it remains well within the state limit of 3.5%, allowing for an additional $104 million in borrowing if necessary. The CFO reassured residents by stating that the city’s surplus at the end of 2023 was $23.7 million, a significant increase from a decade earlier.

The CFO highlighted the city’s effective debt management strategies, including principal forgiveness options and grants that contribute to reducing overall debt. Approximately $17 million in principal forgiveness and about $5 million in grants are expected to further decrease the debt. He pointed out that the city’s debt management has allowed for infrastructure improvements without raising taxes, a sentiment echoed in his statement: “The debt isn’t the villain; it’s raising taxes to pay the debt back that’s the villain.” The city’s financial strength was affirmed by Standard and Poor’s, which rated Hackensack’s finances as AA+, one step below AAA.

The recent flooding events were another major topic of discussion. The city engineer detailed ongoing projects aimed at mitigating flood risks, such as the Combined Sewer Overflow (CSO) project and stormwater management improvements. The Anderson Street drainage area project, designed to divert water away from the Anderson CSO facility to the Court Street facility, is expected to be completed by late October or early November. The engineer noted that while infrastructure improvements are designed to handle a “25-year storm,” extreme weather conditions continue to pose challenges. Recent heavy rainfall resulted in significant flooding in various neighborhoods, prompting calls for more effective storm management solutions.

Residents voiced their concerns about the city’s preparedness and response to flooding. One resident criticized the lack of barriers during storms and called for better anticipation of such events to improve safety. Another resident recounted a personal experience where a young woman required emergency assistance due to flooding, questioning why preventive measures were not taken despite advance warnings. The council acknowledged these concerns and emphasized the need for ongoing infrastructure improvements and community cooperation to manage stormwater effectively.

Redevelopment projects also featured prominently in the meeting. The council announced the designation of Can Brook as the developer for the YMCA property redevelopment, which will begin with a 12% Payment In Lieu Of Taxes (PILOT), higher than the state’s recommendation of 10%. This redevelopment is expected to transform the property from a nonprofit status to a revenue-generating asset, projecting an annual revenue of $1.1 million once 90-92% of the units are leased. The project includes a seven-story building with 254 residential units and a public plaza designed to enhance the area’s aesthetic appeal.

Another redevelopment project at One Essex was discussed, featuring a seven-story building with 250 residential units, including 25 designated as affordable housing. The developers are in early discussions about financing and community commitments, such as potential donations to restore a greenhouse at Johnson Park. A separate project on Railroad Place will create 24 units of 100% affordable housing on a previously underutilized parking lot. The city plans to donate the property, valued at approximately $298,000, to the developer and allocate funds from an affordable housing trust fund to support the project.

Public comments during the session emphasized the community’s concerns about ongoing issues. A resident highlighted traffic safety concerns on Summit Avenue, questioning the posted speed limit of 35 mph and advocating for a reduction to 25 mph. Another resident raised issues about the state of downtown Hackensack, citing parking problems and the impact of new developments on community spaces. They expressed a desire for more amenities that benefit residents rather than solely developers.

The meeting concluded with the adoption of several ordinances and resolutions, including amendments to city codes and the approval of various redevelopment plans. The council also discussed community activities, such as the rescheduled National Night Out and plans to enhance recreational programs. The session ended with a motion to close, which was unanimously approved.