The Gold Coast’s most famous landmark has become the focus of a $1 million lawsuit filed by Jersey City.
City officials say Colgate-Palmolive promised the city that money, during a meeting four years ago, for operation and upkeep of the 85-year-old Hudson shore clock facing lower Manhattan.
Banking on that promise, city officials say they’ve spent the money already. On top of that, they say the world’s largest toothpaste maker also agreed to $250,000 a year in upkeep.
Stephanie Clark, a Colgate-Palmolive spokeswoman, said she knew of no agreement for the 50-foot-high timepiece, on state land leased to the company.
The Colgate Clock was built in 1924 as a replacement for an older clock at what was then a Colgate factory in downtown Jersey City.
When the company left the city in 1985, the factory was demolished. The clock was salvaged and for 15 years was on the site of where the 800-plus-foot Goldman Sachs tower now stands.