Township Officials Going Out To Bid For $4.8 Million In Emergency Notes

By Patricia A. Miller

Berkeley Township officials are looking for bidders to purchase $4.8 million in "special emergency notes," according to the township's website.

"The Notes are authorized pursuant to the laws of the State of New Jersey...for costs associated with the response to Super Storm Sandy," the website states. The Notes, along with other available budgetary funds, are being issued to currently refund at maturity $4,800,000 of the Township's $6,000,000 special emergency notes due December 19, 2013."

Patch was unable to obtain a more detailed explanation. Mayor Carmen F. Amato Jr., Township Administrator Christopher Reid, Chief Financial Officer Frederick Ebenau and Township Council President James J. Byrnes did not return e-mails last week.

Ebenau said in October that Superstorm Sandy had a roughly $3 million impact on the 2013 budget.

The township took advantage of a $5 million Community Disaster Loan from the Federal Emergency Management Agency after Sandy, to help with cleanup costs, increased salaries and wages and lost revenue.

South Seaside Park resident Cathy Fulcomer asked at the October meeting if the FEMA loan would eventually be forgiven.

"We don't know at this point and time," Ebenau said then. "There's a half percent interest payable over a period of time. Should that have to be paid back, there are mechanisms to offset some of that."