City Hires Consultant Firm to Appraise Properties

The Hoboken City Council approved a $50,000 contract with appraisal and consultant firm McGuire Associates, to assess the value of two pieces of land in Hoboken's northwestern part of town. 

The city —the so-called Pino site and the so-called Henkel site—and turn them into parks. 

The contract with McGuire is for a one-year period, expiring on June 6, 2013. The firm will appraise at least seven properties in town.  

The city has a $20 million bond it can use on the land, which comprises a total of about six acres. It's still unclear how much the land will be worth. The city has been looking to turn these sites into parks for many years. 

In a recent letter to the residents of Hoboken, Mayor Dawn Zimmer wrote that the money the city has to spend on park acquisition will likely not be enough to purchase all the properties.  

While much of Wednesday night's meeting was spent discussing the issue of eminent domain, for the acquisition of a park in the southwest, the council unanimously agreed to approve the appraisal contract. 

Eminent domain, Zimmer wrote, will "enable the City to conduct serious negotiations for these properties."

Besides hiring an appraiser, the city council also approved—on first reading—an ordinance that gives the city the authority to buy the land, "by purchase, or eminent domain if necessary."