HOBOKEN, NJ — Hoboken city officials have reached an agreement to purchase a six-acre parcel of land owned by BASF - one of the largest chemical manufacturing producers in the world – with the plans of converting it into a "resiliency park" that would help to alleviate flooding in the municipality.

City officials announced Monday that the municipality has agreed to purchase the BASF property for $30 million after previously authorizing the use of eminent domain to acquire the site. The deal is pending approval from the Hoboken City Council. The city intends to use the property to create a 5.4 acre "resiliency park" along with an above-ground parking garage on a smaller adjacent lot, officials said.

The new park, to be designed with at least one million gallons of underground stormwater detention to help alleviate local flooding, would be the largest park in Hoboken. Currently, Hoboken's largest park is Pier A with an area of 4.8 acres. Former U.S. EPA Attorney Richard Weinstein reached out to Patch last year, expressing concerns about the "possible presence of hazardous wastes" at the property, which was formerly owned by Henkel, a multi-national company that manufactures laundry/home care, beauty care and adhesive technology.

"Remediation of the site is the legal and financial responsibility of BASF as the property owner/responsible party," a Hoboken city spokesman previously told Patch. See related article: Officials: Contamination At Eminent Domain Purchase Site Is BASF's Responsibility The Hoboken City Council previously authorized the use of eminent domain to acquire the BASF site for open space, and also authorized the municipality's application for low-interest funding from the New Jersey Environmental Infrastructure Trust (NJEIT) for acquisition of the property.

COUNCIL CONSIDERATION, PUBLIC HEARING

"On Wednesday, Oct. 5, the City Council will consider three ordinances related to the purchase of the property," officials stated. "One ordinance would authorize the mayor to sign the agreement that the administration has negotiated with BASF and has presented to the council for the acquisition of the property and a down payment of $3 million. Two other bond ordinances for $19.5 million and $2.65 million to supplement a prior bond ordinance would be used to acquire the property for the park and parking garage, respectively."

Pursuant to securing a low-interest loan from the state, city officials will hold a public hearing on Thursday, Oct. 6, from 6 to 8 p.m. at the Multi Service Center at 124 Grand Street to hear the input on the land acquisition. A design has not yet been determined for the park, but a full, community-based public planning process will take place once the property has been acquired, city officials stated.