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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