Several water main breaks and leaks last week left part of the city without water and forced the officials to issue a boil water advisory.
Mayor Dawn Zimmer said Wednesday that the city's aging water infrastructure has been neglected for decades. Zimmer said a contract signed by city officials in the 1990s was "unbelievably shortsighted" and put off improvements in favor of plugging budget gaps.
Zimmer said a deal between the city and United Water was supposed to reap up to $100 million in profit for Hoboken over 30 years. Instead, she said, the city saw about $13 million up until 2001.
A United Water spokesman didn't immediately a message seeking comment.