More results found.
No results match your search term, but we're constantly adding new issuers to the BondLink platform. Looking to learn more?
NJ I-Bank Project of the Week: West Deptford Township Pump Station Replacements. Municipality receives $1,218,764 in Water Bank loans. Estimated savings to ratepayers of $268,814.
West Deptford Township recently completed clean water improvements that are being funded with approximately $1.2 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 is estimated to be $268,814 over the 30-year term of the loan or 24% of the total project cost. In addition, this project created an estimated 14 direct construction jobs.
The project consisted of the replacement of two pump stations: Pump Stations #4 (known as Red Bank) and #6 (known as Queen Street). The new systems will have emergency generators to ensure continual operation during power outages.
James P. Mehaffey, Mayor of West Deptford Township, noted the importance of the project: “Replacing these two 40 to 50-year-old pump stations will limit possible future failures and prevent discharge to groundwater. This project is a salient example of our dedication to improve health conditions for our community, improve groundwater quality and overall quality of life. We strategically borrowed from the Water Bank to finance this project and save our ratepayers money over time.”
This project was designed by T&M Associates and constructed by Level-1 Construction, Inc.
Pictures courtesy of T&M Associates