Newspaper article The Record (Bergen County, NJ)

Ridgefield to Pursue Funds Owed by State

Newspaper article The Record (Bergen County, NJ)

Ridgefield to Pursue Funds Owed by State

Article excerpt

RIDGEFIELD -- The Borough Council condemned the state treasurer for withholding money the borough is owed through a tax-sharing program and declared its intent to recoup money.

The council passed a resolution last week condemning the action of the state Treasury and stating its intent to explore litigation, as well as developing properties within borough lines that previously were prohibited from building.

"We're going to see what legal recourse we have," Councilman James Kontolios said Thursday.

Ridgefield and five other municipalities in the Meadowlands district receive revenue through a hotel-tax-sharing program. The tax-sharing pool was intended to balance out inequities created by development restrictions imposed on towns in the Meadowlands.

Mayor Anthony Suarez said the town was owed about $1. …

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