Madison Offers No Interest Loans To Residents Hit By Shutdown

MADISON, NJ - While the Federal government has taken no action to help the employees struggling without paychecks during the shutdown, the Borough of Madison took action Monday and will now offer no interest loans for residents impacted by the partial government shutdown.

“As we all know, Madison is all about a strong sense of community, a community that stands and supports our residents, and we wouldn’t have it any other way," Mayor Robert Conley said. "During this temporary government shutdown we understand that it is taking a toll on government workers not only in Madison, but nationwide.”

That understanding led Conley, with the unanimous support of the Council, to propose the assistance program for federal workers.

The result is that the Borough of Madison will work with federal government employees that reside in Madison to offer assistance during the partial government shutdown, to ensure that residents are not displaced due to the effects of being furloughed without pay. Through the Jacob Henry Perkins Trust, the borough will advance funds to establish no interest loans for families that are in need.

The Jacob Henry Perkins Trust is a special fund that was set up by former Madison resident Dr. Jacob Henry Perkins, to assist Madison residents in need. No tax dollars are used in the program.

“Advancing funds from the Jacob Henry Perkins Trust will ease government workers during this difficult time,” Conley said.

According to officials, this agreement would ensure that once the government re-opens and employees receive back pay for work during the shutdown that they would repay the trust with no interest.

The governing body said they will also seek legislation to waive interest charges on any municipal fees, which include but are not limited to, utility charges and property tax payments.

Government workers that are affected by the shutdown and would like to discuss the loans should contact Borough Administrator Raymond M. Codey at codeyr@rosenet.org.

All inquiries will be kept anonymous and no public discussion will take place.

(Photo courtesy of the Borough of Madison)

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