PARK RIDGE, N.J.—The borough has applied for funding through the New Jersey Infrastructure Bank to help pay for the long-planned dredging and restoration of Mill Pond, also known as Electric Lake.
Voters approved a non-binding referendum in November authorizing the borough to bond up to $5 million for the project. Since then, sediment and water testing has been underway through Neglia Engineering, funded largely by a $1.5 million state grant.
Following a May 26 budget presentation, Councilor William Fenwick said borough engineers confirmed the funding application had been submitted. He noted that, in some cases, portions of Infrastructure Bank loans may be forgiven. The amount sought was not disclosed.
Fenwick raised the issue after a budget slide listed the project as “unfunded.” While the slide referenced the $1.5 million state grant, it did not mention the potential $5 million bond authorization approved by voters.
Mayor Keith Misciagna disputed any suggestion that the borough lacked a funding commitment, noting the referendum demonstrated that residents had “some skin in the game” and helped strengthen the borough’s case for outside funding. He said the state grant might not have been secured without local support.
Question 1 passed by a vote of 1,694 to 1,347, or 55.7% to 44.3%. Borough officials estimated the borrowing would cost the owner of a $500,000 home about $101 annually for 25 years.
In March, Misciagna said the grant would fund preliminary work, including studies on how sediment removal could affect the pond’s structural integrity.
According to a September 2025 report by Pascack Press, the borough engineer was preparing detailed plans, bid documents and permit applications, including an update to a 2012 soil characterization study to determine how much sediment must be removed and whether any would require specialized disposal.
At the time, Misciagna said design and permitting work was about 75% complete, with the goal of making the project shovel-ready using grant funds already secured.