MANTOLOKING, N.J. (AP) — One of the towns hardest hit by last year’s Superstorm Sandy is trying to figure out how to pay for a new borough hall.
Mantoloking may do something the town government in the well-off New Jersey shore community has never done before: Borrow morning.
Town officials tell the Asbury Park Press (http://on.app.com/195ANpK ) that they would prefer not to issue bonds. But they say building a new borough hall may require it.
The building took on 4 feet of water during the storm, and officials say rebuilding may be less expensive than repairing it.
The borough has $347,000 from an insurance fund and $3,000 in federal aid for the damage, but that will not cover the costs of a new structure.
Information from: Asbury Park (N.J.) Press, http://www.app.com