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

Aberdeen Township Sanitary Sewer & Pump Station Upgrades

NJ I-Bank Project of the Week: Aberdeen Township Sanitary Sewer & Pump Station Upgrades.
Community Receives $6,574,108 in Water Bank Loans. Estimated Savings to ratepayers of $1,525,818.

Aberdeen Township recently completed Sanitary Sewer and Pump Station Upgrades that are being funded with approximately $6.6 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 $1.5 million over the 20-year term of the loan or 23% of the total project cost. In addition, this project created an estimated 78 direct construction jobs. 

The Woodfield neighborhood within Aberdeen Township is the one full neighborhood that is lacking sewer service. Woodfield area resident utilize individual septic systems, systems that are old and have been failing in recent years. The failure of these systems has affected home values, resulted in costly repairs, and become a substantial health concern to the residents impacting their quality of life. In addition, the inadequate and impaired percolation of the septic discharge is negatively impacting stormwater quality. 

The project includes the replacement of the septic systems in the Woodfield neighborhood with a new sanitary sewage collection system. Components of the project include gravity sanitary sewers, domestic sewer laterals, a pump station, and a force main. In addition, the project will include upgrades to the storm water system in the neighborhood. 

According to Aberdeen’s Mayor Fred Tagliarini, “We are committed to investing in our utility infrastructure. The elimination of these failing septic systems will benefit 81 residents within the Woodfield area of our Township. This project, financed through the NJ Water Bank, is a significant example of our dedication to improve health conditions for our community, improve the groundwater quality and overall quality of life, and minimize the cost to our residents in doing such.” 

This project was designed by CME Associates and Constructed by Lucas Construction Group, Inc.

Pictures courtesy of CME Associates

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Trumbull Street
Elizabeth City CSO Abatement Green Infrastructure

The City of Elizabeth recently completed a Combined Sewer Overflow (CSO) Project that is being funded with approximately $6 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 $1,674,985 as it improved conditions for combined sewer overflows. Including interest cost savings, total savings for this project is estimated to be $3,550,965 over the 30-year term of the loan or 56% of the total project cost. In addition, this project created an estimated 74 direct construction jobs.

The City of Elizabeth is one of the 21 municipalities in New Jersey with a combined sewer system (CSS). Under optimal conditions, the stormwater and sewage are combined and conveyed to a sewage treatment plant. But when the system is overwhelmed by extra volume from excessive rain events, it diverts all flows (stormwater AND sewage) into nearby waterways, and sometimes backs it up into neighborhoods, threatening human health and the environment. CSSs are expensive and complicated problems to address because they connect to each other from one municipality to another.

In order to address the CSO issue, Elizabeth City installed additional inlets at the intersection of Trumbull and Sixth Street several feet off the curb allowing the existing drainage system to function during smaller storms. When the capacity of the existing catch basins is exceeded, excess stormwater is piped to a watertight 1-million-gallon concrete vault to store the flow. The entire structure is wrapped in an impermeable pond liner beneath the property acquired for this project and equipped with a pump station. Sensors installed in the combined sewer system activate the pumps after wet weather events triggering the tank to convey the discharge into the sewer system when it has sufficient conveyance capacity for treatment at the Joint Meeting of Essex and Union Counties Wastewater Treatment Plant.

A rain garden was also installed as a test case for green infrastructure as well as the creation of a plaza for the enjoyment of City residents. By addressing issues with the CSS, the City was able to limit roadway flooding and maintain passable travel lanes.

According to J. Christian Bollwage, Mayor of Elizabeth City, “This project is an example of our commitment to improve our infrastructure strategically and improve the quality of life for our residents. We have provided CSO Abatement, improved traffic flow and created recreational space all financed with low-interest rates and principal forgiveness, saving our ratepayers money over time.”

The project was designed by Mott MacDonald, headquartered in Iselin, NJ and constructed by PM Construction Corporation, based out of Hillside, NJ.

Pictures courtesy of the Elizabeth City Engineering Department.

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Middlesex County Utilities Authority Restoration and Flood Mitigation

The Middlesex County Utilities Authority (MCUA) recently completed wastewater treatment plant improvements funded with approximately $16.5 million in long-term loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. The original short-term disaster relief SAIL loan from the Water Bank totaled $33.6 million. MCUA received approximately $17.1 million in grants from FEMA decreasing the Authority's net project costs.Total savings for this project are estimated to be $3,304,771 over the 20-year term of the loan or 20% of the total project cost. In addition, this project created an estimated 197 direct construction jobs.  

The MCUA made several improvements to its Edison Pump Station which was damaged by the storm surge during Superstorm Sandy. The project involved flood-proofing the generator to the pump and switchgear buildings and the tunnel access shaft located at the site. A flood wall was constructed around the site perimeter, with access provided by two rolling steel doors.  An auxiliary pumping station was constructed with isolation gates and a capacity of 65 MGD that will operate during storm events. A storm water pumping station with a capacity of 2,000 GPM was installed inside the floodwall to remove rain water and seepage. Various ancillary repairs and upgrades were completed to the HVAC electrical wiring, phone, intercom and fire alarm systems. 

According to Ronald G. Rios, Middlesex County Freeholder Director, "This project's restoration and mitigation measures will significantly reduce the potential for adverse impacts following similar storm events. Utilizing financing from the Water Bank for this project is an example of the MCUA's commitment to maintain its infrastructure and do so at the lowest possible cost to its ratepayers." 

The project was designed by Mott MacDonald Engineering. Construction Management was performed by Arcadis Design and Consultancy. The project was constructed by Walsh Construction Company.

Picture courtesy of Arcadis Design & Consultancy

Published 10/15/2019

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Bellmawr Borough Water Main, Hydrant & Valve Replacement

The Borough of Bellmawr recently completed drinking water improvements that are being funded with approximately $905,345 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 a NANO loan, which provided 50% principal forgiveness totaling $452,673 as the improvements serve a population of less than 10,000. Including interest cost savings, total savings for this project is estimated to be $754,201 over the 30-year term of the loan or 83% of the total project costs. In addition, this project created an estimated 11 direct construction jobs.  

The project involved various improvements to the Borough's drinking water infrastructure including replacement of approximately 23,000 linear feet of cast iron water mains and valves throughout the  Borough bringing the system into compliance with water quality requirements. 

"We are committed to clean water and reliable service, dictating critical infrastructure improvements," said Chuck Sauter,  Mayor of Bellmawr Borough. "In addition to enhancing the integrity of our service, these upgrades contribute to the economic vitality of the Borough. By taking advantage of the NJ Water Bank's financing, we saved a whopping 83% of total project costs and passed those savings on to our rate payers while improving their water service." 

This project was designed by Remington Vernick Engineers and constructed by RTW Construction and Booth Mechanical, Inc. 

Pictures courtesy of Arcadis Design & Consultancy.

Published October 1, 2019

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Leadership Team

David E. Zimmer, CFA

Executive Director

(609) 219-8600

investorrelations@njib.gov

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Lauren Kaltman

Chief Financial Officer

(609) 219-8607

lskaltman@njib.gov

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Judith Karp, Esq.

Chief Legal and Compliance Officer

(609) 219-8613

jkarp@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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