$38 Million in Sandy-Related Capital Project Bonds Discussed by Toms River Planners

Toms River's plan to secure $38 million in bonds for improvements to township infrastructure following Superstorm Sandy received approval from planners last week. 

The various capital improvements to public structures including devastated locals roads, utilities and bulkheads is consistent with Toms River's master plan and should be reimbursed by FEMA. 

"I feel strongly that this should be approved by the board," said Planning Board Chairman Bill Suchodolski, who was on the barrier island the day after the storm and saw the destruction firsthand. "I say this as a resident and member of the Planning Board."

The ordinance providing for the financing of the improvements will have a public hearing and vote by the Township Council on Tuesday during the governing body's 6 p.m. regular meeting in town hall.

The ordinance is "pretty straightforward," said township planner Jay Lynch, who nonetheless felt it should receive a review by board members. 

"I thought it was important, and the council agreed, to refer it here in case you had any comments or questions about its compatibility with the master plan," Lynch said. 

Board member Robert DiBiase said that the $38 was discussed at a recent township Office of Emergency Management meeting and is justified given Sandy's destruction.

"That $38 million wasn't just arbitrarily picked," he said. "I think it is within reason."

The money should be reimbursable by FEMA, according to Lynch. 

Board member Dennis Filioppone commended the township for being "proactive" in going out for bonds now.

"It's certainly something that we need," he said. 

Suchodolski said that, in his professional experience, he has seen the finances of other municipalities become strapped because of Sandy, which is why the bond is important. 

"I know other entities that will run out of money by June to make payroll as a result of them spending their reserves to recover from Hurricane Sandy," he said. "You'll spend the money first, because you need to do it, and it could be some time before you're reimbursed."

Lynch said that the township is constantly looking for funding sources to rebuild from Sandy and that 90 percent of the assistant planner's time is spent searching for funding and grants that will help homeowners.