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Authority Receives $4,852,159 in Water Bank Loans.
Estimated Savings to rate payers of $2,877,359.
The Atlantic County Utilities Authority recently completed resiliency improvements that are being funded with approximately $4.8 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 $1,213,040 as it addressed damage from Superstorm Sandy and improved resilience for future storms. In addition, this project qualified for Community Development Block Grant Disaster Recovery (CDBG-DR) funds. Including interest cost savings, total savings for this project is estimated to be $2,877,359 million over the 20-year term of the loan or 59% of the total project cost. In addition, this project created an estimated 58 direct construction jobs.
The project provides necessary energy power upgrades and adds resiliency to address deficiencies brought on by Superstorm Sandy. Upgrades include a roll-off truck with a roll-off skid mounted diesel refueling system, emergency power installations, portable diesel power module generators, six trailer mounted portable pumps and the replacement of a 15,000-gallon storage tank. In addition, a permanent sump was constructed within the facility for emptying stormwater from the building.
According to Frank Gilliam, Mayor of Atlantic City, one of the Utility’s major customers, “The ACUA used their expertise to improve resiliency in case of future storms which benefits all of the municipalities within their service area. This project will provide enhanced quality of life for our residents combined with smart money management reflected by the astounding 60% savings of the total project costs. This project, funded through the Water Bank, is an excellent example of how communities can implement water infrastructure improvements and save money in the long run.“
The project was designed by ACUA in-house staff and constructed by Phillips Brothers Electrical and TTI Environmental.
Picture courtesy of Atlantic County UA