$17M In Sandy Funds Help Brick Marina, Ortley Restaurant, Among Other Local Businesses

The administration of Gov. Chris Christie announced Wednesday that several local business shared in more than $17 million in Sandy recovery funding allocated since April 1.

Since the start of April, 103 businesses have been approved for grants and loans totaling over $12.1 million. Additionally, the state's Economic Development Authority recommended the approval of seven municipalities for $5.2 million in Streetscape grants under the Neighborhood and Community Revitalization program. 

Recently approved grants include businesses from impacted communities in both north and south Jersey. Locally, businesses such as Seaside Waverunners in Seaside Heights, Acme Beach and Bike in Beach Haven Gardens and Green Cove Marina in Brick were beneficiaries.

Green Cove Marina, located off western Princeton Avenue on the Metedeconk River, experienced extensive damage to its docks, offices, boats and equipment as a result of the storm.

“Our customers and the Brick community at large have been very supportive since the storm, and now our grant from the EDA will help us to start the summer in a stronger position," said Karen Davidson, the marina's owner.

A combination of loans totaling $2 million was approved in April to support Shake Shoppe Arcade, an arcade and concession shop located on the boardwalk in Seaside Heights that experienced significant damage.

Assistance includes a working capital loan up to $142,750 and a construction loan up to $988,743 under the Stronger NJ Business Loan Program, as well as a direct EDA loan of $894,974 to refinance an existing mortgage and provide additional working capital.

Family-owned By the Sea Too was approved for a Stronger NJ working capital loan of up to $198,300. In addition to other damage, the Ortley Beach restaurant lost its outdoor enclosed porch in the storm, resulting in the loss of 50-percent of its seating capacity last season.

The Streetscape component of the NCR Program was allocated $10 million to provide grants of $125,000 to $1.5 million per project to support “Main Street” revitalization improvements in impacted communities. Projects were selected based on objective scoring criteria and included several coastal communities.

The municipalities selected in the first round include Highlands, Asbury Park, Keansburg and Sea Isle City. The projects under round two that would utilize the remainder of the $10 Million allocation include South Toms River, Hoboken, Long Branch, Atlantic City, Neptune, Margate and Belmar.