More results found.
No results match your search term, but we're constantly adding new issuers to the BondLink platform. Looking to learn more?
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.