State Offers Lakewood $36 Million LOAN, School District Resumes Operations

Can Lakewood afford another LOAN.
The shutdown  of the Lakewood School District by the BOE was short lived as the district website said it will resume all normal operations tomorrow July 2, 2019.
The state DOE Commisioner recommended the treasury to offer Lakewood a loan of 36 million dollars for this year for a thorough and efficient education.
The loan will have to be repaid over a ten year repayment plan at the amount of $3,603,386.20 per year.
The BOE is scheduled to meet to decide on this offer.

#BREAKING 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).

— Shlomo Schorr (@OneJerseySchorr) July 1, 2019