About

Learn about New Jersey Infrastructure Bank, including Featured News, Key Projects, and Leadership Team.

Bond Series Outstanding
39
Bond Ratings
Aaa/AAA/AAA
Debt Obligations Outstanding
$967 million

About New Jersey Infrastructure Bank

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.

Key Projects

Carteret Stormwater Efficiency Project

Community Receives $13.2 Million in Water Bank Loans.

Estimated Savings to rate payers of $7.8 million.

The Borough of Carteret recently completed stormwater efficiency improvements that are being funded with a combination of State and Federal financing. The New Jersey Department of Environmental Protection (NJDEP) provided a $1.04 million grant for Open Space acquisition through its Green Acres Program. The stormwater management components of the project are being funded with approximately $13.2 million in loans from the NJ Water Bank. Several components of this project qualified for principal forgiveness totaling $2.48 million as they addressed damage from Superstorm Sandy and improved resilience for future storms. Including interest cost savings, total savings for this project are estimated to be $7.8 million over the 30-year term of the loan or close to 60% of the total project cost. In addition, this project created an estimated 146 direct construction jobs.

Specific components of the stormwater management improvements include the construction of a nearly two-acre, clay-lined stormwater detention basin, a pump station and generator, a pump station outfall and tidal gate. 24 new stormwater inlets and 13 new manholes were constructed, and 32 existing inlets and 16 existing manholes were replaced.  Stormwater flows are diverted via gravity to the new stormwater detention basin and pumped through a new pump station and force main for discharge to a new outfall into Noes Creek. The new piping system project mitigates stormwater overflows in the center of the Borough, an area which was most frequently impacted by inadequate stormwater management.  

Dan Reiman, Mayor of Carteret, applauded the project's multiple benefits afforded to  the Borough. "This project addresses existing stormwater issues as most of the Borough's infrastructure was constructed over 75 years ago." Stated Mr. Reiman. "This project addresses the environmental issues efficiently and sustainably while creating recreation opportunities and enhancing resiliency at the lowest possible cost, saving our ratepayers money over time." 

This project was designed by T&M Associates and constructed by Lucas Construction Group, Inc.

Pictures courtesy of T&M Associates.

Published 12/04/2018

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Rahway City WTP Filter System Upgrade

Community Receives $12.9 Million in Water Bank Loans.

Estimated Savings to rate payers of $3,967,158

The City of Rahway recently completed stormwater improvements that are being funded with approximately $12.9 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Total savings for this project are estimated to be $4 million over the 23-year term of the loan or 30% of the total project cost. In addition, this project created an estimated 154 direct construction jobs.

The project consisted of improvements to the City’s water treatment plant and construction of a new interconnection and pipeline with Middlesex Water Company. The system’s existing gravity filters were replaced with a membrane treatment system and housed in a new treatment building. The project also included the construction of approximately 1,610 linear feet of new piping, and a new, pre-fabricated sanitary pump station consisting of two submersible pumps. The liner for the onsite residual holding pond was removed and replaced with a new HDPE liner and the SCADA system was upgraded.

Rahway Mayor Raymond Giacobbe explained "We remain committed to investing in our utility infrastructure at the lowest possible cost. The service we provide is essential to public health, quality of life and economic growth in our city. Maintaining critical infrastructure has been a high priority for us as these upgrades enhance our drinking water quality and contribute to the overall sustainability and economic vitality of our City." 

This project was designed by Mott MacDonald and managed by Bohler Engineering and CME Associates. They project was constructed by Tomar Construction, LLC. 

Pictures courtesy of Bohler Engineering

Published 11/20/2018

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NJ American Water Flood Gate Replacement and Stabilization

Company Receives $27,201,503 in Water Bank Loans.

Estimated Savings to rate payers of $14,864,529.

NJ American Water recently completed stormwater improvements to the Raritan Millstone Water Treatment Plant (RMWTP) that are being funded with approximately $27.2 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 the maximum amount of principal forgiveness, totaling $2,121,919 as it addressed damage from previous storms and improved resilience for future storms. Including interest cost savings, total savings for this project is estimated to be $14.8 million over the 30-year term of the loan or 55% of the total project cost. In addition, this project created an estimated 326 direct construction jobs.

The Raritan River, Millstone River and Delaware and Raritan Canal all supply water to the treatment plant. The entire facility is surrounded by a flood protection wall and levee because it is located in the floodplain of the Raritan River. The existing flood protection wall and levee were originally designed for the 100-year storm elevation after the RMWTP was inundated by flood waters during Hurricane Floyd in 1999. In August of 2011, during Hurricane Irene, floodwaters came within one inch of breaching the wall. This project will protect the water supply system and prevent service interruptions, potential health hazards and water quality impacts that would result if the plant were to flood again. 

The project included demolition of the existing structures, replacement of the flood gates and reconstruction and stabilization of the existing flood walls. The flood walls around the perimeter of the plant were raised from 44 feet elevation to 48 feet, an access roadway was reconstructed, two scour holes were constructed for drainage and intake sluice gates at the Low Lift pumping station were replaced. 

According to Deborah Degillio, President of New Jersey American Water, "This project is the result of countless hours of planning and 18 months of construction made possible by hundreds of professionals who came together to make our vision of protecting this facility a reality. We have fortified this critical infrastructure in order to provide clean, safe, reliable water service – not only to our customers in Central New Jersey who rely on us every day, but also to the millions of residents throughout the State whom we help during emergency situations. And we financed the project through the low-cost NJ Water Bank Program to save money for our ratepayers." 

This project was designed by NJAW, AECOM Technical Services, and Eric Ditchey, P.E., LLC, and constructed by Coppola Services, Inc.

Pictures courtesy of NJ  American Water.

Published 11/13/2018

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Saddle Brook Township Water Distribution Improvements

Community Receives $1,309,660 in Water Bank Loans. Estimated Savings to ratepayers of $327,603.

The Township of Saddle Brook recently completed drinking water distribution improvements that are being funded with approximately $1.3 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJIB. Total savings for this project, including interest cost savings, are estimated to be $327,603, over the 20-year term of the loan or 25% of the total project cost. In addition, this project created an estimated 15 direct construction jobs. 

The project involved the replacement of approximately 3,477 linear feet of water mains ranging in size from 6-inches to 10-inches in diameter and 3,120 linear feet of associated service connections. The affected areas include Fifth, North Fifth, Sixth, Ninth and Capitol Streets; Hillside and Grace Avenues; Route 46; and Outwater and Rosol Lanes. 

"Our commitment to clean water and reliable service requires that we make critical infrastructure improvements on an ongoing and timely basis," said Robert White, Mayor of Saddle Brook Township. "In addition to enhancing the integrity of our service, these upgrades contribute to the overall efficiency of our water distribution system and the economic vitality of our township by passing savings on to our ratepayers." 

This project was designed by Remington Vernick & Arango and constructed by Reivax Contracting.

Pictures courtesy of Remington Vernick & Arango.

Published 10/30/2018

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Leadership Team

David E. Zimmer, CFA

Executive Director

(609) 219-8600

investorrelations@njib.gov

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Judith Karp, Esq.

Assistant Director & Chief Legal and Compliance Officer

(609) 219-8613

jkarp@njib.gov

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Lauren Kaltman

Chief Financial Officer

(609) 219-8607

lskaltman@njib.gov

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Leigh Peterson

Chief Operating Officer, Water Program

(609) 219-6581

lpeterson@njib.gov

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Robert Fernandez

Chief Operating Officer, Transportation Program

(609) 219-8605

rfernandez@njib.gov

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COO, Transportation
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