Welcome Visitor
Today is Wednesday, January 22, 2020

FEMA Says It Will Pay For Nearly Half Of Two Major Sea Bright Projects

SEA BRIGHT: With preliminary designs completed, and CAFRA permits approved, the last step for the borough was to get the OK from FEMA to move forward with its plan to begin to major construction projects.

The borough received its answer this week and FEMA, which has now said it will be pay for about half of the cost to build a Community Center/Beach Pavilion and the Municipal Building.

Community Center/beach pavilion, which will have a library, lifeguard station, rental space, beach lockers and bathrooms on the east side of the borough parking lot.

The Municipal Building will house the borough's police and fire departments as well as its office of emergency management, borough hall and bays for its department of public works vehicles.

"We're essentially rebuilding most of borough facilities with these two projects," Councilman Brian Kelly said this week.

The projected cost for both projects is about $14 million, but FEMA and insurance and the borough's beach access fund will cover roughly half the cost, leaving about a $7.3 million cost for the municipality.

For a 25-year bond, that would equate to a debt service of about $420,000, however, Kelly said that cost will be lowered through new revenue for the borough.

"But to offset that, we already have plans to do paid parking, which will generate revenue on an annual basis and of course we will get revenue from the cell tower," Kelly said.

He also the elimination of temporary facilities for the police, fire department and library will offset the cost by about $100,000. All these offsetting costs would bring the annual debt service to about $139,000, which is an tax rate increase of about 2 cents.

The next step is to give the borough architect the green light to draw up final design specs for the two projects; something that will likely be done at the April 19 Sea Bright Council meeting.

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: