September 30, 2021
WASHINGTON – Legislation supported by Rep. Chris Smith (R-NJ) to provide more than $8.1 million in Community Disaster Loan (CDL) forgiveness for Jersey Shore towns in the Fourth Congressional District impacted by Superstorm Sandy passed the House of Representatives and was signed into law today as part of a stopgap measure to avoid a government shutdown.
“This long-awaited Community Disaster Loan forgiveness is greatly welcomed and much-needed relief for our local towns and communities that were devastated by Superstorm Sandy,” said Rep. Smith, who voted for the measure on the House Floor. “Nearly nine years after Sandy, our towns have finally received the reprieve they both need and deserve—and were originally assured—from these difficult payments.”
Mayors from Point Pleasant Beach and Manasquan, two of the towns in Smith’s district slated to receive CDL forgiveness, thanked Smith for his tireless efforts to secure the significant relief that will free up funds for critical municipal projects and other needed local improvements.
“Point Pleasant Beach is so grateful to have an attentive and hardworking member like Congressman Chris Smith representing us,” said Mayor Paul Kanitra. “He listened to our needs regarding CDL forgiveness, and he and his staff put in countless hours to make this a reality. We expect the effects of this to save the Borough close to $1 million dollars.
“This is a big deal,” said Manasquan Mayor Ed Donovan. “This represents hundreds of thousands of dollars that we would’ve had to repay, that we can now use for other needed projects and improvements in Manasquan. There is no lack of projects we need funding.”
In addition to securing relief for New Jersey towns, the legislation will also provide assistance to other eligible towns across the country with outstanding Community Disaster Loans.
Administered by the Federal Emergency Management Agency, the CDL program provides operational funding for local governments to continue basic operations after substantial revenue loss caused by a major disaster, such as Superstorm Sandy, that adversely affects their ability to provide essential municipal services.