The City Council passed an ordinance on July 14 to authorize a $7.7 million bond sale to finance the acquisition of the Sixth Street Embankment property in the Heights and turn it into a linear park with a light rail spur.

The city expects to get $6.6 million in grants from Green Acres to fund the effort and offset the bond. Monies have been pledged from the NY/NJ Baykeeper and the Port Authority, but didn’t prevent Councilman Bill Gaughan to vote against the bond and Councilwomen Willie Flood and Viola Richardson to abstain, citing doubts funding is in place.

“Where will we get the money for this?” Gaughan asked, citing a budget deficit, furloughs, more than 200 job cuts and property tax increases. “I don’t believe we can afford it.”

But six council members need for the vote thought otherwise. Council president Peter Brennan gave the deciding sixth vote.

Developer Steve Hyman, who would not comment, owns the property after his wife bought it from Conrail for $3 million in 2005. He wants to build luxury homes and knock down the granite walls that run along a six-block stretch from Marin Boulevard to Brunswick Street. Hyman has been battling the city and the Embankment Coalition and must accept an offer for the property or keep it mired in litigation.

The coalition thanked the City Council for their efforts to acquire the property. Supporters with signs reading “Make Our Park” and “Save Our Embankment” cheered.

“It’s not just about a park. It’s about securing a transportation hub and it gives us the opportunity to develop a gateway to the downtown,” said Embankment Coalition member Stephen Gucciardo. “If we achieve a fraction of the success of Highline in New York City, thousands of people will come, spend money.”

Several members of Jersey City Moms and the Hamilton Park Neighborhood Association noted that more families and staying in Jersey City and raising children when monies are spent upgrading parks.

“We’ve seen an overwhelming desire for green space, residents invite friends, officer workers have lunch in the parks. We need the Embankment as a central, ideal location to all areas. It helps local businesses, makes Jersey City a desirable place to live,” said Felicia Palmer.

Since the Zoning Board of Adjustment upheld the Jersey City Historic Preservation Commission’s May 2009 decision to deny permits to demolish the Sixth Street Embankment in August 2009, Hyman appealed to the Supreme Court.

Hyman has sought permission since last year to demolish the walls where from 1902 to the 1970s, a Pennsylvania Railroad freight line was carried.