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NJ I-Bank Project of the Week: Gloucester City Combined Sewer Main Replacement. Authority Receives $889,164 in Water Bank Loans. Estimated Savings to ratepayers of $182,062.
Gloucester City recently completed clean water improvements that are being funded with $889,164 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 $182,062 over the 20-year term of the loan or 20% of the total project cost. In addition, this project created an estimated 11 direct construction jobs.
The project consisted of the removal of approximately 1,600 linear feet of aged brick combined sewer mains within the roadways on Brown and Paul Streets. Both sewer mains were replaced with new 15-inch diameter gravity PVC combined sewer mains and associated appurtenances.
“We remain committed to investing in our utility infrastructure,” said Patrick Keating, Mayor of Gloucester City. “The replacement of these aging sewer mains is essential to public health, quality of life and economic growth in our community. Borrowing from the NJ Water Bank results in savings that we pass on to our ratepayers, contributing to the overall sustainability and economic vitality of the city.”
This project was designed by Remington & Vernick Engineers and constructed by Perna Finnigan, Inc.
Photo courtesy of Gloucester City.