Bayonne council to consider 1st reading of $65M bond for $900M 1888 Studios tonight

1

The Bayonne City Council will consider the first reading of a $65 million bond for the $900 million 1888 Studios, a major motion picture studio planned for the former Texaco site, at a special meeting this evening.

Rendering courtesy of 1888 Studios, LLC.

By John Heinis/Hudson County View

The meeting will be held at City Hall, 630 Avenue C, this evening at 7 p.m. The ordinance will be one of three up for the first reading after the council convenes in a closed session, a copy of the agenda says.

The 75-acre site, located near the intersection of Avenue A and 1st Street, will consist of 10 studio sound stages, five mill buildings, attached four-story offices that will support the studio buildings, and a post-production office building, and 2,127 parking spaces, among other things.

The planning board gave approval to the project back in March and is aiming to open by mid-2025, though tonight is the first time the council will vote on the measure, which city officials have said would create up to 3,000 jobs and $7 million in annual revenue.

However, the applicant came before the planning board on January 10th asking for amendments including eliminating underground parking structures, a screening and post production office, among other amenities.

The Local Finance Board then approved $65 million in the “proposed private sale of bonds” the following day, their meeting minutes show.

If the bond is approved this evening, the second reading will be considered at the February 15th regular meeting of the city council.

 

Editor’s note: This story was updated regarding information from the Local Finance Board.¬†


Warning: A non-numeric value encountered in /home/hcvcp/public_html/wp-content/themes/Hudson County View/includes/wp_booster/td_block.php on line 353

1 COMMENT

  1. The article above is based on the original application to the BAYONNE planning board. At the January 10 meeting of the planning board, the applicant requested amendments which Which are not Deminimis include The elimination of the previously approved underground parking spaces, structures, eliminated the screening/post production office building, eliminated the creative office building as well as the elimination of the central utility plant and associated utility yard. Which, by the way will therefore increase the power grid for the city of BAYONNE therefore the repairs will wind up paying for power that is utilized by this developer. Other changes include reconfiguration in size and location of the stage buildings which are actually just warehouses. Will this wind up being the largest employer in the city of BAYONNE and largest taxpayer. From what I know the BAYONNE board of Ed is the largest employer and probably will always be the largest. And currently IMTT Is the largest taxpayer in the city. So BAYONNE residents… is this project really worth $65 million when those funds that might be bonded could go for the benefit of our water and sewer lines, roads, bridges? Ask yourself that question show up February 15 to voice your opinion. Or, show up tonight at the special meeting and speak at public comments.

LEAVE A REPLY