Executive Director David E. Zimmer, CFA
New Jersey Infrastructure Bank
New Jersey Infrastructure Bank
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Carneys Point Sewerage Authority borrows $1,437,803 in Water Bank Loans, with 100% Principal Forgiveness saving ratepayers the total cost of the project.
The Carneys Point Sewerage Authority (“CPTSA”) recently upgraded its sanitary sewer infrastructure, financing the improvements with $1,441,881 in loans from the New Jersey Water Bank, a low-interest funding program jointly administered by the New Jersey Department of Environmental Protection (DEP) and the New Jersey Infrastructure Bank (the “I-Bank”). Because the project improved water quality and met affordability criteria, it qualified for 100% grant-like, principal forgiveness funds. As a result, the Authority will save the full cost of the project compared to financing it independently. Additionally, the project is estimated to have generated 16 direct one-year construction jobs.
This project eliminated the need for an existing sanitary sewer lift station on Lafayette Road in Carneys Point Township. New sanitary sewer gravity mains were constructed to redirect sanitary sewer flow downstream allowing for the demolition and removal of the existing pumping station. The removal of the pumping station eliminated an estimated $950,000 in electricity, labor, maintenance & repairs over a 50-year period.
Upgrading the aging sanitary sewer infrastructure reduced the risk of service interruptions and protected local water quality from potential system failures. With the Lafayette pump station nearing the end of its service life, reconstruction was essential to ensure uninterrupted sewer service for residents, businesses, and industry. Additionally, by eliminating the energy demands of the old pump station, the project supports CPTSA’s long-term sustainability goals and may qualify as a green initiative.
According to Kenneth Brown, Mayor of Carneys Point Township, “I’m pleased to announce the successful completion of a critical infrastructure project that strengthens our township’s sanitary sewer system and protects our local environment. Thanks to $1.4 million in financing through the New Jersey Water Bank we were able to make these improvements at no net cost to our community.”
“This is a smart, sustainable project that reflects our commitment to sound infrastructure and fiscal responsibility. I’d like to thank the Carneys Point Sewerage Authority, the NJDEP, and the I-Bank for their partnership and support in helping us deliver lasting value to our community.”
This project was designed by RHT Services, Triad Incorporated, and Sickels Associates. It was constructed by South State Inc.
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