OFFICIAL: Lakewood will receive $36 Million as a loan – As GL reported, Lakewood’s $30 Million is likely ‘Safe’

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Update: Shlomo Schorr reports, New Jersey State Treasurer Elizabeth Maher-Muolo says that she recommends that the Lakewood school district receive $36 million in state aid from the School District Relief account to ensure the provision of a thorough and efficient education” (T&E).

As expected, this money will be loaned to Lakewood and expected to be repaid over 10 years of annual payments of $3.6 million beginning in the 2020/21 school year.


It appears as GL has been reporting all along that the $30 Million dollars Lakewood needed that was cut from the 2020 budget, will indeed be given by the State.

GL was contacted by many concerned residents why Senator (Thanks RUOC) Singer voted for the budget which was apparently terrible for Lakewood. In fact, GreaterLakewood’s headline was DISASTER: Proposed budget removes $30 MILLION from Lakewood, LSTA at risk. There were motions filed to stop the vote and drama ensued. At the vote, however, Singer voted for the budget.

Emails to Singer’s office were unanswered.

Related: Trump weighs in on NJ budget ‘Many were planning to leave, & will now be staying’h

GL reported at the time, ‘The State Senate voted 31-6 With several Republicans voting with the Democrats. Most notable was Senator Singer – who represents Lakewood – who voted yes. GreaterLakewood reached out for comment but did not hear back yet. Fairly reliable sources tell GL there seems to be a deal and Lakewood’s $30 Million is safe… which is why Senator Singer voted for the budget.”

It appears there are now more reports – in addition to our initial sources – saying Murphy will be providing Lakewood with the much needed $30 Million.

Now of course as Yogi Berra said ‘it ain’t over till it’s over’ but it appears we are in the bottom of the ninth 🙂

3 COMMENTS

  1. Maybe it was promised, maybe not, promises don’t mean anything until there is a signed agreement. Fact is that the budget by law had to be certified yesterday to avoid closure, Fact is it could not be certified because there is currently no guarantee that the funds will be provided. Maybe the governor needed the school district to close in order to illustrate why the funds need to be given?

    What concerns me more, is that Sweeney, who controls the State Legislature claimed that he didn’t know anything about the Lakewood situation, and if he did, maybe he would have approved the funding. Why didn’t Senator Singer, who represents Lakewood, make the case to Sweeney, isn’t that his job?

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