Borough of Point Pleasant – The Governor recently announced that municipalities impacted by Superstorm Sandy could apply to be reimbursed for the additional 10 percent of funds expended after the storm. According to Mayor Sabosik “The Governor has released $42 million to coastal communities for a non-federal cost share match program to reimburse us the remaining 10 percent of the money that we spent for Sandy. I am happy to announce that we will be receiving $160,920.00 in addition to what the Borough has already received in the past and this will make us 100 percent reimbursed for all of the costs the Borough incurred from the storm.”
According to Council President Joe Furmato “Even though FEMA paid 90 percent of the costs towns spent in recovery efforts through the original Public Assistance Grant, the remaining 10 percent left for municipalities to bear was still a huge burden. When the announcement was made that this additional money was going to be made available, we immediately had our Borough Administrator and Professionals fill out all the appropriate paperwork to get moving on this. By not wasting time and letting this opportunity pass, we where able to get the maximum amount allowed to the Borough. This will go along way in our continuous goal to stabilize local taxes.”
Borough Administrator Frank Pannucci Jr. stated that this money will go into what is called “unanticipated funds” and be added to our surplus. “Sandy wreaked havoc on the entire shore community and the recovery process, which we are still in, has been costly. Any additional monies that the Borough is entitled to we will go after on behalf of our taxpayers as Mayor Sabosik and the Borough Council are constantly looking at grants and funding opportunities.”