Hoboken Mayor Admits Defeat as Voters Reject $241 Million School
Hoboken Voters Rejecting $241 Million School Bond Referendum
(Bloomberg) -- Hoboken Mayor Ravi Bhalla said late Tuesday that the city’s $241 million bond referendum to build a new high school won’t pass.
“While the will of the voters has made it clear that the Board of Education’s current proposal for the new high school will not move forward, I sincerely believe that the effort to improve our public schools will continue,” Bhalla said in a statement. While the board of education put forth the proposal, the mayor was a big proponent.
The vote in a special election Tuesday was one of the costliest school construction referendums in New Jersey history. The bond was failing 66% to 34%, with 35 out of 42 precincts reporting, according to unofficial results posted by Hudson County as of Wednesday morning. About 7,500 ballots had been cast, translating to a roughly 17% turnout, which is strong for a school bond vote.
Hoboken officials proposed the new school to address the city’s population growth, among the fastest in the state. Enrollment in the city’s public schools grew 27% over the last decade. For kindergarten to fifth grade students, where capacity pressure is the tightest, enrollment grew 57%.
Plans for the school, which would have a capacity of about 1,200, feature amenities including a rooftop football field and an indoor ice rink. At full capacity, the cost would be more than $200,000 per student.
A 30-year bond with an interest rate of 2.2% would have funded construction, according to the Hoboken school board’s plans. The district estimated a roughly 6% increase in property taxes for residents to help cover the cost. For a two-bedroom apartment with an assessed value of $778,000, that translates to about $726 yearly.
“The community has sent a resounding rejection for the proposal,” said Pavel Sokolov, who helped organize opposition to the bond. “There are enrollment capacity issues and academic issues in our town that need to be addressed. We fully intend and plan to be involved in the conversation.”
©2022 Bloomberg L.P.