A long negotiation between the Northwest Bergen Utilities Authority and seven local towns is over, and Wyckoff will reportedly walk away from it with more than $197,000.
According to a NorthJersey.com report, the NBUA voted this week to return $1.6 million in bond insurance to seven Bergen County towns. Wyckoff, Waldwick, Mahwah, Midland Park, Allendale, Ramsey, and Ho-Ho-Kus were asking for the return of monies they paid to the authority nearly 50 years ago to construct and operate the sewage treatment plant, the report said.
The bonds will be returned in the form of fourth quarter rate reductions for the seven towns, the report said.
Wyckoff will receive about 12.33 percent of the total $1.6 million refund, or $197,154, the report said.
Township Mayor Rudy Boonstra told NorthJersey.com he was pleased with the negotiations. "We received what we were looking for," he said in the article. "It worked out well."