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Sandy Loans

Feds Forgive $3M In Sandy Loans For Toms River

in Toms River News

TOMS RIVER, NJ — For several years, Toms River officials have been trying to get the township’s Community Disaster Loan forgiven by the federal government.

The township, which borrowed $5 million for cleanup efforts after Superstorm Sandy wreaked havoc in 2012, had repaid some of the money. But while other towns had their debts wiped clean by the Federal Emergency Management Agency, Toms River still had $3 million to repay.

As of last week, that $3 million has finally been removed, officials said, after loan forgiveness for 18 towns and school districts at the Jersey Shore, including 12 in Ocean County, was included in the government operations bill signed by President Joe Biden last week. More than $25 million in loans was forgiven under the provision.

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