Oceanport officials announced last week that it will likely take about $367 million to rebuild in the wake of Hurricane Sandy.
Mayor Michael Mahon emphasized that these numbers are an estimate and will continue to be updated. Here's how costs break down:
- $360 million for rebuilding of private homes
- $1 million to rebuild six local businesses.
- $1.4 million for debris removal.
- $600,000 for emergency police protection and department of public works efforts (including overtime).
- $3.5 million for repairs to buildings and parts.
Borough council approved $500,000 in emergency appropriations on Thursday, expecting to be reimbursed by FEMA.