Tl NEWS FROM THE TOWNSHIP OF BRICK (UA Doprinen ot Haan arty sacs ‘wamge DUET SEP 19 2019 Maureen Laffey-Berg Chiet Banca Officer ‘Township of Brick 401 Chambers edge Road Bick, New Jersey 08723 RE: Community Disaster Loan EMN-2013-LP 40866142 eat Mi, Lailey-Bery ‘Tals isin reference to your application for Appeal and Re-Bvalution of the cancellation forthe ‘Community Disaster Loan (CDI. issued on July 10, 2013 w the Township of Bick as &resutt of the major disaster declaration of October 30, 2012 forthe Sute of New Jersey (FEMA-DR-4086- NJ). The cancellation application was suomutte Yo the Federal Linergency Management Agency (FEMA) under the provisions of the Consolidated Appropriations Act, 2008, FEMA has the authority to cancel all or a portion of CDs that meet the cancellation criteria in. Section 417(¢\() ofthe Stafford Act (42 U.S.C. 184), FEMA's procedures and criteria for cancellation of CDLs are set forth at 44 CFR §206.366. ‘Your oricinal cancellation evaluation resulted in a non-cancellation of your $5,000,000 loan. ‘This determination was made from a $3,866,313 cumulative operating surplus and a $15,529,464 cumulative revenue loss resulting in non-cancellaton. FEMA's re-evaluation of your supplementary information indicates thatthe Township of Brick ‘experienced a $15,010,062 cumulative operating deficit which inchndes your Exhibit A-1 ‘expenditures and appeal adjustments. This amount exceed the $5,000,000 loan funds drawn ‘during the thee year period following the dieatar, and wae atwibuted to disaster related revere losses. On this bass, your application for fll cancellation of the loaned fund, as well asthe interest acerued has been epproved. Because tis re-evaluation fally forgives the loan, FEMA will deem your Appeal not necessary and therefie, wo fan voumanusivation sain the appeal will be fordacwaing Township of Brick 401 Chambers Bridge Road, Brick, NJ 08723 Phone 732-262-1050 Fax 732-262-1149NEWS FROM THE TOWNSHIP OF BRICK tne? -A omy la Lan MOLINO Ityouhave any un concen our lon, lu con Marth Casto, COL Praga ‘eer Pa kee Dono 0) 22ST Sie, ay Zp tle— rs tn ag Dor Pt Adan Dion = ‘Bekah ee ae me Ter temny Mange Amy Se ae nee HHH Township of Brick 401 Chambers Bridge Road, Brick, NJ 08723 Phone 732-262-1050 Fax 732-262-1149