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

Old Bridge MUA Knollcroft Water Main Rehabilitation

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

Published 4/28/2021

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North Jersey District Water Supply Commission Infrastructure Rehab and Security Upgrades

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

Published 4/13/21

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Long Beach Township Filter Room & Pump Reconstruction

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

Published 3/24/2021

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Brick Township MUA Hydrant & Meter Replacement

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

Published 3/17/2021

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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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