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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.
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.
Lead is not normally found in drinking water at the source. Typically, lead gets into drinking water from the service lines, plumbing and fixtures that contain lead. As a result of corrosion, lead and other metals from the pipes slowly dissolve into the water. Many factors affect the amount of lead that leaches into the water, including lead content of pipes, fixtures, and solder, along with water temperature, pH and hardness. Lead is associated with adverse health impacts even at low levels, particularly in infants and children.
According to an American Water Works Association survey from 2018, New Jersey has an estimated 350,000 Lead Service Lines (LSLs). To address the risk from lead in water, Jersey Water Works, with support from The Fund for New Jersey, convened a 30-member task force of representatives from local, state and federal governments; water utilities; academia; environmental, smart growth and community advocates and public health organizations. Beginning in December 2018, the task force worked to determine practical, cost-effective, equitable, and permanent solutions to ensure that people across the state can access drinking water free from the risks of lead.
In October 2019, New Jersey’s Governor Phillip Murphy announced a statewide plan to address lead exposure from paint, water, and soil that included a goal of fully replacing the state’s LSLs within ten years, the time estimated to find and eliminate all of New Jersey’s LSLs. A week earlier, Congress enacted a law, proposed by Senator Booker, enabling New Jersey and other states to shift capital from the Clean Water State Revolving Fund (SRF) to the Drinking Water SRF, supplying critical funding.
The plan implemented key recommendations put forward by the task force, and includes the proposal of a $500 million bond to support LSL replacement; remediation of lead-based paint; enabling utilities to use rates paid by customers to support LSL replacement on private property; and improving the state’s inventory of LSLs.
The NJ I-Bank is doing its part by offering loans at 50% principal forgiveness and 50% I-Bank market rate funding.
NJ I-Bank Project of the Week: Old Bridge MUA Knollcroft Water Main Rehabilitation. Commission receives $15,929,656 in Water Bank loans. Estimated savings to ratepayers of $4,260,980.
The Old Bridge Municipal Utilities Authority recently completed drinking water improvements that are being funded with approximately $2.1 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 $576,539 over the 20-year term of the loan or 27% of the total project cost. In addition, this project created an estimated 25 direct construction jobs.
The unlined cast iron water main installed in the 1960s had reached the end of its useful life. The pipe material was prone to tuberculation leading to a reduction in smoothness of the pipe walls resulting in a noticeable reduction in water pressure. The age and brittleness of the pipe also led to water main breaks.
The project included the installation of 9,200 linear feet of 8-inch water main to replace the aged main in the Knollcroft development in Old Bridge Township. Valves, fire hydrants, and water services were also installed.
Owen Henry, Mayor of Old Bridge Township stressed the benefits of the project for Knollcroft residents. “Our MUA is dedicated to maintaining a clean and efficient water supply for the health of our community. In addition to enhancing the efficiency of the water distribution system these upgrades have contributed to the economic vitality of our township. Taking advantage of the NJ Water Bank incurred a nice 27% savings which is passed on to our rate payers.”
This project was designed by CME Associates and constructed by T&T Commonwealth Construction Company.
Picture courtesy of CME Associates
NJ I-Bank Project of the Week: North Jersey District Water Supply Commission Infrastructure Rehab and Security Upgrades. Commission receives $17,112,622 in Water Bank loans. Estimated savings to ratepayers of $4,260,98.
The North Jersey District Water Supply Commission (Commission) recently completed drinking water improvements that are being funded with approximately $17 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 $4,26 million over the 30-year term of the loan or 25% of the total project cost. In addition, this project created an estimated 205 direct construction jobs.
The project included the analysis of existing lagoon conditions (such as sludge levels, concentrations of metals, disinfection by-products, organic components, etc.). A detailed design was prepared for the construction of a lagoon/decant treatment system. The decanted water will continue to be discharged to the reservoir and/or be recycled back to the head of the Water Treatment Plant (WTP).
In addition, high flow clarifiers were upgraded into the footprint of existing Basins 5 & 6 at the Commission’s WTP. The residuals will either be piped to the Commission’s current Residuals Treatment Facility or dewatered at the point of generation.
The project also involved a security component, including the upgrade and expansion of the closed-circuit TV, installation of an access control system to control and secure all entrance and exit points to the Administration building, and security gates at the Orechio Drive entrance. Fire alarm systems were installed in all Commission-owned buildings, as well as a system to integrate, map, and monitor security sensors on the Commission’s aqueduct.
Michael Venezia, Mayor of Bloomfield Township, one of the municipalities that contract with the Commission, applauded its commitment to provide clean, affordable drinking water. “This project provided enhanced safety measures and demonstrated shrewd money management reflected by the 25% savings of the total project costs. The services provided by the Commission are essential to public health, fire protection, and quality of life. Working in partnership with the Water Bank contributed to economic growth in the communities served by passing on the savings to ratepayers.”
The Basin Rehab component of the project and the Clarifier upgrades were designed and constructed by Stone Hill Contracting Co. The Basin was rehabilitated by 4RO Services. The security component was designed by Arcadis.
Picture courtesy of NJDWSC
NJ I-Bank Project of the Week: Long Beach Township Filter Room & Pump Reconstruction
Community Receives $9,032,894 in Water Bank Loans. Estimated savings to ratepayers of $3,215,343.
Long Beach Township recently completed drinking water improvements that are being funded with approximately $9 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 a Water Bank NANO loan which includes principal forgiveness totaling $500,000 as the project serves a population of 10,000 or less. Including interest cost savings, total savings for this project is estimated to be $3,215,343 over the 30-year term of the loan or 36% of the total project cost. In addition, this project created an estimated 108 direct construction jobs.
The project consisted of the demolition and reconstruction of the Brant Beach filter room and associated pumps. The existing structure was built over 50 years ago with no flood protection. When Superstorm Sandy hit the barrier island in 2013, the building took on three feet of water, damaging filter components and pumps. These components were initially repaired on a temporary basis. However, with the reconstruction of homes destroyed in 2013 along with seasonal population spikes, the system was anticipated to fail.
The project included the construction of filters, pumps, chlorine and lime rooms, a glass coated storage tank, a fiberglass aeration tank, and office. In addition, all required mechanical and electrical equipment was installed including water filter piping, a SCADA system, and a pump building with an emergency generator.
Joseph Mancini, Mayor of Long Beach Township, stressed the need for the project. “We’re dedicated to maintaining a clean and efficient water supply for the health of our community and the comfort of our summer guests. Renovating components of our infrastructure damaged by Superstorm Sandy has been an ongoing goal, and the NJ Water Bank has enabled this objective while benefitting our ratepayers financially over time.”
This project was designed by Owen Little engineering and constructed by Quad Construction.
Picture courtesy of Owen Little Associates
The Brick Township Municipal Utilities Authority (BTMUA) recently completed drinking water improvements that are being funded with approximately $858,275 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 $491,756 over the 30-year term of the loan or 57% of the total project cost. In addition, this project created an estimated 10 direct construction jobs.
The BTMUA provides service to approximately 100,000 customers in the Township of Brick and the Ramtown section of Howell Township. This project replaced 99 fire hydrants in the Baywood Section of Brick Township as the original hydrants had extensive external corrosion that led to numerous failures. The hydrant replacement project provides improved pressure and reliability for firefighting and reduced maintenance for the hydrants. The project also replaced approximately 30,000 water meters over the BTMUA’s entire service area to address water conservation and efficient billing initiatives.
John Ducey, Mayor of Brick Township, commended the MUA. “We all appreciate the proactive attention to MUA efficiency and the safety of our community. This financing from the Water Bank is money well spent in the present and will save our ratepayers money over time.”
This project was designed by Maser Consulting and installed by HD Supply Waterworks Ltd.
Pictures courtesy of Maser Consulting & Suburban Consulting Engineers