Project

NJ I-Bank Water Infrastructure News (WIN): Brick Township MUA receives $5,316,801 in Water Bank loans saving ratepayers an estimated $1,136,500.

 
Brick Township MUA (“BTMUA”) recently completed drinking water improvements that are being financed with approximately $5.3 million in loans from the NJ Water Bank, a low-rate funding program jointly administered by the DEP and the New Jersey Infrastructure Bank (“I-Bank”). Including interest cost savings, total savings for this project is estimated to be $1,136,477 over the 30-year term of the loan or 21% of the total project cost. In addition, this project created an estimated 64 direct construction jobs.

The project replaced approximately 19,000 linear feet of water main containing 310 existing services in the Cedarwood Park East and West neighborhoods. The existing 1970’s-era 2- and 3-inch water mains were replaced with 6- and 8-inch mains. Fittings and fire hydrants were also installed as required. 

“The Brick Township MUA is committed to clean water and reliable service which requires critical infrastructure improvements,” said Lisa Crate, Mayor of Brick Township. “These upgrades contribute to the overall efficiency of our water distribution system, enhance fire safety, and eliminate the need for emergency repairs. Strategic financing through the Water Bank contributes to savings that benefit all BTMUA’s ratepayers.”

This project was designed by Maser Consulting and Colliers Engineering and constructed by P&A Construction.

Pictures courtesy of Brick Township MUA

Published July 10, 2024