Executive Director David E. Zimmer, CFA
New Jersey Infrastructure Bank
New Jersey Infrastructure Bank
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NJ I-Bank Water Infrastructure News (WIN): The Town of Newton receives $2.6 Million in Principal Forgiven Water Bank Loans, saving ratepayers the total cost of the project.
The Town of Newton recently completed two infrastructure projects that are being financed with approximately $2.6 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”). Because these clean water projects took place in a community that met the program’s affordability criteria, they qualified for 100% principal forgiveness (“PF”). As a result, the town is expected to save the full cost of the projects. Additionally, the projects are estimated to have generated 30 direct construction job-years.
These initiatives were designed to address public safety and environmental health. The first project implemented drainage Improvements for the Babe Ruth League Baseball Field in Memory Park. Because the park was lacking proper drainage, the soil became saturated and posed a risk to public safety. The township implemented a combination of gray and green infrastructure to manage stormwater more effectively. These improvements facilitated on-site treatment of stormwater discharge, protected public health and improved the field's usability.
The second project focused on upgrading the town’s stormwater management fleet with the purchase of two street sweepers, one vacuum / jetter truck, two heavy-duty pickup trucks, and one dump truck. These vehicles will enhance the town’s ability to clean and maintain its stormwater sewer system, helping to reduce sediment buildup and improve water quality. The equipment was acquired through a cooperative pricing program to ensure cost efficiency.
According to Helen R. Le Frois, Mayor of Newton, “I’m pleased to support these critical initiatives that prioritize public safety and environmental health in our community. By improving drainage at the Babe Ruth League Baseball Field with sustainable stormwater solutions, we’re making the park safer and more usable for everyone. At the same time, upgrading our stormwater management fleet will help to maintain the sewer system, reduce sediment buildup, and protect water quality. Together, these projects demonstrate our commitment to protecting public health, enhancing recreational spaces, and conserving local ecosystems — all paid for with 100% principal forgiveness from the NJ Water Bank. I want to extend my greatest thanks to township staff, the DEP, and the I-Bank for their partnership and support.”
This project was designed by Suburban Consulting Engineers and constructed by Paving Materials and Contracting, LLC.
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