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Commission receives $2,387,016 in Water Bank loans. Estimated savings to ratepayers of $439,708.
The Passaic Valley Sewerage Commission (PVSC) recently completed clean water improvements that are being funded with approximately $2.4 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 $439,708 over the 20-year term of the loan or 18% of the total project cost. In addition, this project created an estimated 29 direct construction jobs.
PVSC’s Administration Building was severely damaged due to flooding from Superstorm Sandy. The building and its communication and business systems were repaired to ensure continued operation of the treatment plant and resiliency in case of future events. The project included removal and replacement of damaged plumbing, electrical, HVAC and fire suppression systems. A rooftop addition was also constructed to contain various utilities.
“PVSC’s commitment to clean water and reliable service requires critical infrastructure improvements,” said Brian Stack, Mayor of Union City, one of the Commission’s major customers. “In addition to enhancing the integrity of our service, this project capitalized on the Water Bank’s low-interest financing, contributing to the economic vitality of the five counties it serves by passing the savings on to its ratepayers.”
This project was designed by Mott MacDonald engineering and constructed by Fine Wall Corporation.
Picture Courtesy of PVSC