Glen Ridge Earns Top Credit Rating as Council Approves Water Meter Overhaul and Road Grant
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Glen Ridge received an upgraded AAA bond rating from Moody's this past week, the highest possible credit score, which officials credited to careful management of the borough's reserve funds, consistent fiscal handling, and having closed out its COVID-era funding obligations.
In other business, the council approved a professional services agreement with TAGA Associates LLC to handle tax and water collection services, at a cost of $8,000 per month and capped at $96,000 for 2024; the deal required formal council approval because the borough's chief financial officer determined the contract's value exceeded a state threshold requiring competitive bidding oversight. The council also moved forward with a major water meter replacement project, approving the purchase of 2,369 residential water meters through a Morris County cooperative purchasing agreement with Rio Supply for $72,325.50, and separately awarding the installation work to National Metering Services of Carney, New Jersey, for $323,340 as the lowest responsible bidder. Additionally, the council approved submitting a grant application and signing a contract with the New Jersey Department of Transportation for approximately $600,000 to fund improvements to Mayis Avenue, Hamilton Road, and Spencer Avenue.
On the community side, the council approved a public pop-up picnic called "Gathering in the Glenn," set for Wednesday, July 24 (with a rain date of July 25) from 4 to 8 p.m., featuring food and beer from Fitzgerald's along with entertainment. The council also authorized related liquor permit applications for that event and for a separate "We've Got Friends" fundraiser scheduled at Glen Ridge Country Club on July 15. Finally, the council highlighted a historical preservation effort by the Belleville Historical Society, which located and restored the headstones of four African-American Civil War veterans buried on Glen Ridge borough land at Bloomfield Cemetery. The project included fabricating and installing a new, historically accurate headstone for Private James A. Sloan of the 24th United States Colored Infantry, whose grave had previously gone unmarked, ahead of the 100th anniversary of his death in July. A ceremony was held Saturday and attended by Councilors Meyer and Moody.
What to watch
- The "We've Got Friends" fundraiser at Glen Ridge Country Club is scheduled for July 15.