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Waldwick Station Railroad Museum

Discussion related to New Jersey Transit rail and light rail operations.

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Waldwick Station Railroad Museum

 #567198  by Woodcrest295
 
i wanted to make a new thread because good news should be hilighted in bad times

Newsday
Historic Waldwick station to be rail museum
August 13, 2008

NEWARK, N.J. - The historic train station in Waldwick has been closed for 25 years but now is to become a railroad museum.
New Jersey Transit has leased the 121-year-old building to a nonprofit group that plans to renovate the structure.
The 25-year deal, at $1 a year, was approved Wednesday by the transit agency's board.
The old station is on the outbound side of the Main Line tracks. Commuters have an air-conditioned station on the inbound side.
NJ Transit says it will relocate six parking spaces before the renovation begins so there will be no loss of spaces.

Re: Waldwick Station Railroad Museum

 #567212  by sullivan1985
 
PlayMania wrote:A museum is a cool idea but couldn't they get a better deal out of a Dunkin' Donuts franchise or a Starbucks?
I'm sure they could, but why even suggest it? Be happy NJT is giving the property out for something some good can grow from instead of another place to buy coffee in this caffeine driving country.

Re: Waldwick Station Railroad Museum

 #567214  by PlayMania
 
sullivan1985 wrote:
PlayMania wrote:A museum is a cool idea but couldn't they get a better deal out of a Dunkin' Donuts franchise or a Starbucks?
I'm sure they could, but why even suggest it? Be happy NJT is giving the property out for something some good can grow from instead of another place to buy coffee in this caffeine driving country.

Re: Waldwick Station Railroad Museum

 #567215  by PlayMania
 
PlayMania wrote:
sullivan1985 wrote:
PlayMania wrote:A museum is a cool idea but couldn't they get a better deal out of a Dunkin' Donuts franchise or a Starbucks?
I'm sure they could, but why even suggest it? Be happy NJT is giving the property out for something some good can grow from instead of another place to buy coffee in this caffeine driving country.
Maybe they recognize their own financial state and how bad they mismanaged it. They're probably just get a jump on their own museum via a third party. :wink: :-D

Re: Waldwick Station Railroad Museum

 #567216  by SecaucusJunction
 
Yeah with any more cuts, you'll have children going to that museum and wondering what it was like to have trains running through the area...

Re: Waldwick Station Railroad Museum

 #567252  by GSC
 
I'm sure there are tax savings in this deal for NJT. Maybe someone with an accounting background can comment, but there must be at least some tax savings as far as the town is concerned, plus some kind of donation or depreciation write-offs for letting the station be used by (I assume) a not-for-profit entity such as a museum.

I'm glad a Dunkin Donuts or Starbucks won't be part of it. As far as those places...how much is enough???

Re: Waldwick Station Railroad Museum

 #567264  by PlayMania
 
GSC wrote:I'm sure there are tax savings in this deal for NJT. Maybe someone with an accounting background can comment, but there must be at least some tax savings as far as the town is concerned, plus some kind of donation or depreciation write-offs for letting the station be used by (I assume) a not-for-profit entity such as a museum.

I'm glad a Dunkin Donuts or Starbucks won't be part of it. As far as those places...how much is enough???
First off, NJT is a state agencies. They don't pay income or property taxes.Therefore, there is no tax savings or benefits for them. Secondly, the whole purpose of my partially random idea that NJT could do it to help be more financially solvant. Apparantely they are having trouble being solvant if they are laying off people, cutting service frequancies, and in constant need of additional subsidies from the tax payers.

As for Waldwick, can't say they benefit from non profits. Non-profits don't pay any (property) taxes on their primary property and the first residental property they own. If anything, they're losing out on it. But then again, the station is located on state property which isn't taxed.

As far as how much is enough? Well, let's just say you need to take intro to business again.

Re: Waldwick Station Railroad Museum

 #567267  by PlayMania
 
PlayMania wrote:
GSC wrote:I'm sure there are tax savings in this deal for NJT. Maybe someone with an accounting background can comment, but there must be at least some tax savings as far as the town is concerned, plus some kind of donation or depreciation write-offs for letting the station be used by (I assume) a not-for-profit entity such as a museum.

I'm glad a Dunkin Donuts or Starbucks won't be part of it. As far as those places...how much is enough???
First off, NJT is a state agencies. They don't pay income or property taxes.Therefore, there is no tax savings or benefits for them. Secondly, the whole purpose of my partially random idea that NJT could do it to help be more financially solvant. Apparantely they are having trouble being solvant if they are laying off people, cutting service frequancies, and in constant need of additional subsidies from the tax payers.

As for Waldwick, can't say they benefit from non profits. Non-profits don't pay any (property) taxes on their primary property and the first residental property they own. If anything, they're losing out on it. But then again, the station is located on state property which isn't taxed.

As far as how much is enough? Well, let's just say you need to take intro to business again.
Just as a side note, I have done my research on this matter about paying property tax. There is a parcel that NJT does own in Waldwick that is taxed but it appears to be an undeveloped lot near the train station. It has a land only value of $200,000 and no improvement value. The taxes paid on the 2 acre lot is $4,180 for 2007. The new tax value for 2008 hasn't been released as of yet. The lot was deaded from Waldwick to NJT back in July of 1995.

Re: Waldwick Station Railroad Museum

 #567274  by Jtgshu
 
I think the Early Retirement Plan is a good idea, contrary to what Mr. Alan thinks.

If they are only going to replace 10 percent of those positions lost to Early Retirement, what does/did the other 90 percent do before they retired?

Hmmmmmmmmmmm

An early retirement package is NOT a lay-off. They are vastly different things. NJT had layoffs/furloughs about 5 years ago. Those folks would have loved to see others get offered a retirement package instead and save their jobs. but that didn't happen.

The folks who are able to take the Early Retirement are a select few. They have to be non-union, which only leaves about 1000-1500 folks total of NJT's workforce, and from what I understand, cannot fall under NJ Rail Ops (and fall under Railroad Retirement, in particular) Bus Ops, or PD as their employer. So its NJT "Corporate" folks, more than likely who work at Penn Plaza. And of course, have to be eligible for retirement.

Maybe we have reached the point of "enough is enough" with Starbucks closing stores and losing money

http://www.cnbc.com//id/25934141
The U.S. based coffee chain [SBUX 17.01 0.71 (+4.37%) ] said it now expects to have a net decrease of 60 stores in the United States, good news for investors who feel that the company has too many stores.

Starbucks reported a fiscal third-quarter net loss of $6.7 million, or 1 cent per share, compared with a year-earlier net profit of $158.3 million, or 21 cents per share.

Re: Waldwick Station Railroad Museum

 #567290  by CarterB
 
Regardless of the politics....I think having the Waldwick station renovated by a private non-profit, will benefit the Waldwick community and certainly an improvement on the decay and disuse over the past quarter century. I'd even like to see a renovated HW passenger car (or more) parked on the old wye siding north of the station.

If anyone has any info on the organization that is going to open the museum, please let me know, I'd like to volunteer!!

Re: Waldwick Station Railroad Museum

 #567327  by PlayMania
 
IT helps the community which is fine. However, hows is it going to help me getting to New York, Newark, Union, or where ever I might be going to on the system? It certainly isn't going help keep costs low.

Re: Waldwick Station Railroad Museum

 #567427  by ryanov
 
Jtgshu wrote:Maybe we have reached the point of "enough is enough" with Starbucks closing stores and losing money

http://www.cnbc.com//id/25934141
The U.S. based coffee chain [SBUX 17.01 0.71 (+4.37%) ] said it now expects to have a net decrease of 60 stores in the United States, good news for investors who feel that the company has too many stores.

Starbucks reported a fiscal third-quarter net loss of $6.7 million, or 1 cent per share, compared with a year-earlier net profit of $158.3 million, or 21 cents per share.
I'm no major fan of Starbucks, but I'm pretty ticked off that they're closing their downtown Newark location. But I digress...

Re: Waldwick Station Railroad Museum

 #567430  by ryanov
 
I actually have a much bigger problem with public train stations that have shelters that are not open to the public (eg. the train station has become a private business).
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