FEMA Cancels Brick's $5M Sandy Loan Repayment

BRICK, NJ — Almost seven years after Superstorm Sandy wreaked havoc on the Jersey Shore, Brick Township officials are able to put one more aspect of the storm behind them, after federal officials agreed to forgive a $5 million loan to the township.

The Federal Emergency Management Agency issued a letter to the township in September announcing it had agreed to cancel the debt.

Brick had sought the Community Disaster Loan in the immediate aftermath of Sandy, when the township worked to clean up after the storm that hit Oct. 29, 2012. (See photos from Mantoloking Road taken just two days after the storm.)

The township had sought to have the loan, which was issued in 2013, forgiven previously but FEMA officials initially rejected the request.

The township asked FEMA to revisit the request, and the agency's evaluation of Brick Township’s request to cancel the Community Disaster Loan showed an operating deficit of $15,010,062 during the time period. The deficit was largely created in the immediate aftermath of Sandy and was due to expenses and loss of tax revenue.

Brick Mayor John G. Ducey thanked FEMA officials and said the cancellation of the loan was great news for the township.

"The recovery from Superstorm Sandy has been a long and costly process for our community," he said. "The cancellation of the $5 million will remove a significant burden from our taxpayers, many of whom experienced tremendous loss during Sandy."

"We did what was necessary after Sandy to start Brick Township on the path to recovery and the Community Disaster Loan was a large part of that," he said. "With the loan forgiven, it is one more step in moving forward."

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