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Learn about New Jersey Infrastructure Bank, including Featured News, Key Projects, and Leadership Team.
This Investor Relations site is intended to provide current and potential investors broad information about the financing programs and related public bond issues administered by the New Jersey Infrastructure Bank (I-Bank). We welcome your interest in our programs. Please direct any specific questions or feedback to the contact information located at the top, right corner of this site.
The I-Bank is an independent State Financing Authority responsible for providing and administering low-interest rate loans to qualified municipalities, counties, regional authorities and water purveyors in New Jersey (NJ) for the purpose of financing local transportation and water-quality related infrastructure projects under two separate financing Programs: the NJ Transportation Bank and the NJ Water Bank. The I-Bank partners with the NJ Department of Environmental Protection (NJDEP) to administer the NJ Water Bank and partners with the NJ Department of Transportation (NJDOT) to administer the NJ Transportation Bank. The I-Bank’s mission is to finance projects that enhance ground and surface water resources, ensure the safety of drinking water supplies, protect the public health, reduce roadway congestion, improve highway safety and contribute to New Jersey’s role as a critical channel for commerce. The benefits of investing in infrastructure include stimulating the economy and reducing environmental and health impacts, while enhancing the quality of life within the participating communities.
The Murphy Administration invested $386 Million in Water Infrastructure, creating more than 4,600 construction jobs.
Infrastructure projects are supported by zero-interest NJDEP loans and NJ Infrastructure Bank sale of $122.5 Million in Green Bonds.
Governor Murphy’s continuing commitment to infrastructure investments enhance public health, protect the environment, and create green jobs. The NJ Infrastructure Bank (I-Bank) working in partnership with the NJDEP sold $122.5 million of AAA/Aaa rated Environmental Infrastructure Bonds, Acting DEP Commissioner Shawn LaTourette and I-Bank Chair Robert Briant, Jr. announced today.
“As New Jersey recovers from the pandemic, we must seize the opportunity to create family-sustaining green jobs that put our residents back to work building the critical water infrastructure that our state needs to protect our environment and public health,” Acting DEP Commissioner Shawn LaTourette said. “Through the DEP’s incredible partnership with the I-Bank, we combine forces to create the New Jersey Water Bank, which offers innovative and affordable financing for water purveyors and local governments to make investments that promote the public good.”
NJ Transportation Bank announces the recipients of funding allocations for the 4th quarter of SFY2021!
Camden County has been allocated $15,058,710 for the replacement of the White Horse Road Bridge over PATCO and NJ TRANSIT Rail Lines.
These allocations are based on each project's ranking on the Transportation Bank Project Priority List, as determined by the NJDOT's ranking methodology, as well as the project's readiness to proceed, and are subject to availability of Program funds as well as the Project Sponsor's agreement with the project's Scheduled Award Date.
The management of storm water runoff has become a priority for many communities in New Jersey in recent years due to the increase of and impact from extreme weather events. Some of the most complicated problems with storm water management occur in Combined Sewer Systems (CSS). In the late 1800s and early 1900s many cities built CSSs, which at the time provided a contemporary solution for conveying sewage and stormwater efficiently from urban areas. In optimal conditions, the stormwater and sewage were combined and conveyed to a sewage treatment plant. But today, with population growth and the concentrated development in urban areas, the piping system of a CSS can become overwhelmed by volume. In such instances, excess flows are diverted (stormwater AND sewage) into nearby waterways through combined sewer overflow (CSO) outfalls. This excess combined sewage can also flood and back up into neighborhoods, which can be a threat to human health. The abatement of CSOs is an expensive and complicated problem to address since urban areas where CSSs exist are often fully developed and because control alternatives, such as sewer separation, can result in significant disturbances. In addition, due to the inter-connected nature of sewer systems among neighboring communities, a downstream region’s strategy for addressing its CSOs is directly impacted by the amount of flows from their upstream neighbors which impacts the pipe capacity of the CSS, thereby increasing the likelihood of CSOs.
In response to the Clean Water Act, the National CSO Policy, and the New Jersey Pollutant Discharge Elimination System (NJPDES) Regulations, the NJ Department of Environmental Protection (NJDEP) issued 25 individu al NJPDES permits to require the submission of a Long-Term Control Plan (LTCP) to reduce or eliminate CSOs. These permits were issued to the permittee who owns/operates the combined sewer system as well as the permittee who owns/operates the receiving wastewater treatment plant. These permits affect 21 municipalities in New Jersey with CSO outfalls. The permit requirements stress the development of regional strategies to reduce the amount of storm water that flows into CSSs and requires the municipality and sewage treatment plant to work cooperatively. Public participation and engagement are also requirements of the permit throughout the LTCP process.
Conventional stormwater management techniques include pipes, sewers, expansion of the sewage treatment plant capacity and other structures that are often referred to as “gray infrastructure.” One of the more common practices is known as off-line storage, where combined effluent is diverted to a tank, a basin, or a deep tunnel until either the rain event has subsided, or a wastewater treatment plant has the capacity to treat the discharge.
Green infrastructure can also be utilized to abate CSOs. Green infrastructure projects simulate natural hydrologic methods to reduce the quantity and rate of stormwater flow to the CSS. Green infrastructure strategies can include rain gardens, bioswales, porous pavement, green roofs, infiltration planters, trees, and rainwater harvesting rain gardens. These small-scale green infrastructure strategies help to keep stormwater out of the CSS through infiltration, evapotranspiration, and rainwater harvesting. The capture and reuse of rainwater preserves the resource and keeps it out of the CSS during critical storm events. Green infrastructure is also compatible with the principals of Low Impact Development, a land development policy that reproduces natural methods of managing stormwater as close to its source as possible.
The 21 New Jersey municipalities with CSSs are encouraged to include green infrastructure projects in their LTCPs because these measures can contribute to CSO control while providing environmental, social, and economic benefits. In addition to alleviating flooding issues, green infrastructure can improve water and air quality, reduce energy use and urban heat island effects, create green jobs and improve quality of life. Larger scale green infrastructure strategies can also increase recreational and economic opportunities, improve wildlife habitat and biodiversity, and help mitigate flooding. Redevelopment opportunities become more promising as well when infrastructure can handle the population intended to use it.
As community leaders become aware of additional available funding sources, such as the NJ Water Bank, a financing program run jointly by the NJDEP and the NJ I-Bank, they can overcome some of the obstacles that have been impeding critical infrastructure repair. The NJ Water Bank is a vanguard lending institution in the State, helping communities take advantage of available funds with low-interest rate loans and principal forgiveness loans. The Water Bank has dedicated $25 million in Principal Forgiveness Loans for Combined Sewer Overflow Abatement projects utilizing gray and green practices. When NJ entities are willing to invest in their water infrastructure, the benefits are numerous. By doing so, these entities contribute to the stimulation of the economy, the reduction of environmental and health impacts, and the enhancement of communities with neighborhood beautification.
NJ I-Bank Project of the Week: Camden County MUA Wastewater Treatment Plant Upgrades. Authority receives $71,993,594 in Water Bank loans. Estimated savings to ratepayers of $29,394,574.
The Camden County Municipal Utilities Authority The Camden County Municipal Utilities Authority (CCMUA) recently completed clean water improvements that are being funded with approximately $72.0 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. This project qualified for principal forgiveness totaling $13,543,349 as it improved resiliency. Including interest cost savings, total savings for the project is estimated to be $29.4 million over the 30-year term of the loan or 41% of the total project cost. In addition, this project created an estimated 862 direct construction jobs.
The project consisted of upgrades to the Anaerobic Digester and the Combined Heat and Power Facility to enhance wastewater treatment performance, improve resiliency and reduce the plant’s carbon footprint. The most significant component of the project was the construction of a sludge digester which reduces sludge output by approximately 50%, minimizes odor potential and creates enough biogas to generate approximately 50% of the electricity needed to power the plant.
Commissioner Jefferey Nash, of the Camden County Board of Commissioners commended the CCMUA for its dedication to the community and the environment. “This project minimizes adverse impacts from the plant’s effluent on the Delaware River, reduces its carbon footprint and improves resiliency. Moreover, the CCMUA’s strategic financing with the NJ Water Bank saved its ratepayers a substantial 41% of the total project costs over time.”
This project was designed and managed by D&B/Guarino Engineers, LLC. The Anaerobic Digester was constructed by Northeast Remsco Construction, Inc. The Combined Heat and Power Facility was constructed by Camden Bioenergy, LLC.
Picture courtesy of D&B/Guarino Engineers, LLC
Published 9/8/2021 and updated 9/9/21
NJ I-Bank Project of the Week: Gloucester City Combined Sewer Main Replacement. Authority Receives $889,164 in Water Bank Loans. Estimated Savings to ratepayers of $182,062.
Gloucester City recently completed clean water improvements that are being funded with $889,164 in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Including interest cost savings, total savings for this project is estimated to be $182,062 over the 20-year term of the loan or 20% of the total project cost. In addition, this project created an estimated 11 direct construction jobs.
The project consisted of the removal of approximately 1,600 linear feet of aged brick combined sewer mains within the roadways on Brown and Paul Streets. Both sewer mains were replaced with new 15-inch diameter gravity PVC combined sewer mains and associated appurtenances.
“We remain committed to investing in our utility infrastructure,” said Patrick Keating, Mayor of Gloucester City. “The replacement of these aging sewer mains is essential to public health, quality of life and economic growth in our community. Borrowing from the NJ Water Bank results in savings that we pass on to our ratepayers, contributing to the overall sustainability and economic vitality of the city.”
This project was designed by Remington & Vernick Engineers and constructed by Perna Finnigan, Inc.
Photo courtesy of Gloucester City.
The Salem County Improvement Authority (SCIA) recently completed clean water improvements at its landfill that are being funded with approximately $7 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Including interest cost savings, total savings for this project is estimated to be $703,729, over the 20-year term of the loan or 11% of the total project cost. In addition, this project created an estimated 79 direct construction jobs.
The landfill cell construction provided environmentally sound disposal of Salem County's solid waste in compliance with County and State solid waste management policies and regulations. The landfill cell included a double-composite liner system designed and constructed in accordance with NJDEP regulations and the SCIA solid waste facility permit to protect ground and surface water quality. The project includes an approximately eight-acre landfill cell, which is one phase of a 31-acre landfill expansion.
Benjamin H. Laury, Salem County Commissioner Director, stressed the importance of the project. “Our Improvement Authority is committed to environmental and financial responsibility. Expanding our landfill and protecting water quality has been an ongoing goal, and the NJ Water Bank has saved our ratepayers money every step of the way.”
This project was designed by the Alaimo Group and constructed by Wyndham Construction LLC.
Picture courtesy of the Alaimo Group.
The Borough of Little Silver recently closed on a $2,518,496 construction loan with the NJ Transportation Bank to complete Phase II of its sidewalk project. This project will create a continuous network of sidewalks throughout the borough, providing safe pedestrian passage to three schools and to the NJ Transit train station. The Project is expected to create 30 direct construction jobs.
Robert Neff, Mayor of Little Silver, stated “Borrowing from the Transportation Bank has been an efficient and cost-effective endeavor that is providing necessary pedestrian safety measures for all members of our community.”
This project was designed and managed by Leon S. Avakian Inc. and constructed by A. Takton Concrete Corp.
Picture Courtesy of Leon S. Avakian