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

PVSC Sodium Hypochlorite Storage Replacement

Passaic Valley Sewerage Commission Sodium Hypochlorite Storage Replacement.

Commission receives $2,928,050 in Water Bank loans. Estimated savings to ratepayers of $507,058.

Passaic Valley Sewerage Commission (PVSC) recently     completed clean water improvements that are being financed with approximately $2.9 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ Water Bank. Total savings for this project are estimated to be $507,058 over the 20-year term of the loan or 17% of the total project cost. In addition, this project created an estimated 35 direct construction jobs. 

This project is one component of PVSC’s plant wide improvements to increase its wet weather treatment capacity to reduce the volume of CSO discharges. A dechlorination facility was built at the PVSC’s secondary outfall and they are currently constructing a secondary bypass treatment facility to allow for treatment of up to 720 MGD during wet weather events. This project will replace the existing Sodium Hypochlorite Storage and Feed Facility tanks, make improvements to the chemical feed system and, if necessary, contain the receiving area. The improvements were designed to accommodate disinfection for increased wet weather flows.

Hector Lora, Mayor of Passaic City, one of the Authority’s major customers, stated “This project is an example of the PVSC’s dedication to protecting the environment by reducing the volume of CSO discharges. The combination of these efforts and working with the NJ Water Bank significantly reduces treatment costs and saves our ratepayers money over time.”

This project was designed by Jacobs Engineers and constructed by Coppola Services, Inc.

Picture courtesy of PVSC

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Bradley Beach Boulevard Stormwater Improvements

Borough receives $383,513 in Water Bank loans. Estimated savings to ratepayers of $62,204.

Bradley Beach Borough recently completed storm water improvements that are being funded with approximately $383,513 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 $62,204 over the 17-year term of the loan or 16% of the total project cost. In addition, this project created an estimated 5 direct construction jobs. 

The Borough is currently operating an aged sewer collection and stormwater system originally constructed in the early 1900’s. The project addressed approximately 15% of the sanitary sewer system and 90% of the stormwater infrastructure system. Storm drains were replaced with 18-inch diameter reinforced concrete pipe. Approximately 30 drainage inlets and 14 manholes were also replaced.

According to Gary Engelstad, Mayor of Bradley Beach, “This project is an example of our commitment to improve our aging water infrastructure. We have improved energy efficiency and wastewater management which reduced risks to public health and the environment. Thanks to the NJ Water Bank Program, this project accomplished all that at an affordable price that will save our ratepayers money over time.” 

This project was designed by Leon Avakian and constructed by Precise Construction.

Picture courtesy of Leon Avakian.

Published 1/5/2020

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Lower Township MUA – Lower Cape May Regional Water Main Extension and Villas East Phase 2

Authority receives $2.9 million in Water Bank loans. Estimated savings to ratepayers of $867,146.

Lower Township Municipal Utilities Authority (LTMUA) recently completed drinking water improvements that are being funded with approximately $2.9 million in loans from the NJ Water Bank, a joint low-rate financing program of the New Jersey Department of Environmental Protection (NJDEP) and the NJ I-Bank. Savings for this project are estimated to be $867,146 over the 30-year term of the loan or 29% of the total project cost. In addition, this project created an estimated 35 direct construction jobs. 

The project included the installation of approximately 4 ¼ miles of 8-inch diameter PVC pipe water mains, 0.4 miles of 12-inch diameter PVC water mains, 405 water service laterals and water meters, and 36 new fire hydrants.  The project was constructed in existing paved roadways and rights-of-way by open cut excavation. 

The LTMUA project replaced a number of existing private residential wells for potable water service. The Cape May County Health Department found a variety of volatile organic compound (VOC) contaminants in the groundwater supply that pose a potential health risk to residents. VOCs are usually introduced to the environment as industrial by-products. In addition to VOCs, saltwater intrusion was affecting the groundwater supply and there were numerous properties that registered contamination above the maximum contaminant level established by the NJDEP. This project extended safe drinking water service to the affected households.

“As a community, we are committed to the health of all of all our citizens,” said Frank Sippel, Mayor of Lower Township. “We commend the Lower Township MUA for completing this project as it is critical component in the effort to supply potable water to all residents. In addition, the savings LTMUA was able to accrue with its loan through the NJ Water Bank will be passed on to our rate payers.” 

This project was designed by Remington Vernick Associates, and constructed by Perna Finnigan, Inc.

Picture courtesy of Remington Vernick Associates.

Published 12/1/2020

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North Hudson SA Adams Street WWTP Phase 2 Improvements

Community Receives $1,414,714 in Water Bank Loans. Estimated Savings to ratepayers of $664,817.

The North Hudson Sewerage Authority (NHSA) recently completed waste-water treatment plant improvements that are being funded with approximately $1.4 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 $664,817 over the 30-year term of the loan or 47% of the total project cost. In addition, this project created an estimated 17 direct construction jobs.

The events of Superstorm Sandy demonstrated the need for upgrades at NHSA’s wastewater treatment plants and within the collection system. This project includes various improvements to increase the resiliency of NHSA facilities for future emergency events.

The secondary/tertiary treatment process at the Adams Street WWTP consists of a dissolved air floatation and combined sand filter process (PURAC) followed by ultraviolet disinfection. The PURAC Flo-filter process system was installed over 20 years ago. It is a critical secondary and tertiary treatment process which is required to keep the plant in compliance with its NJPDES permit. The system is nearing the end of its useful life and beginning to show signs of failure. Additionally, the system needs a new and more flexible SCADA computerized control system. Restoration work will include new underdrains and sand media for each PURAC cell, replacement of instruments and valves, replacement  of nozzles for introducing dissolved air, new chain and flight mechanisms for float removal and all associated work related to the replacement of pumps, motors, valves, piping, etc.

According to Jennifer Gonzalez, Director   of Environmental Services for the City of Hoboken, “This project benefits Hoboken and many surrounding communities in Hudson County in several different ways. It is an excellent example of the NHSA’s dedication to provide efficient wastewater treatment. The project elevates the plant’s compliance, provides resilience in the case of future storms, alleviates street flooding during wet weather events, and with NJ Water Bank financing, saves ratepayers half of the total project costs. 

This project was designed by Mott MacDonald and constructed by 4RO Services, Inc. and Scafar Contracting, Inc. 

Picture courtesy of Mott MacDonald.

Published 8/10/2020

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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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