Long Beach City Council votes to pass $38.1M loan for Sandy damaged recovery projects

The Long Beach City Council unanimously passed a vote to borrow $38.1 million to cover the cost of repair projects throughout the community after Superstorm

LONG BEACH - The Long Beach City Council unanimously passed a vote to borrow $38.1 million to cover the cost of repair projects throughout the community after Superstorm Sandy devastated the area.

Long Beach officials say the total price tag on damages sustained during the storm is roughly $200 million. City Manager Jack Schnirman says that FEMA has agreed to reimburse 90 percent of Sandy repairs within the fiscal year. He says there won't be a tax increase.

The rest of the cost is expected to be covered by the state.

Schnirman calls the loan crucial to the overall recovery of the city. Some community members said that borrowing money is always dangerous.

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