Projects

NJ I-Bank Transportation Project: Mendham Township receives $1.3 million in Transportation Bank loans saving taxpayers approximately $313,272.

Mendham Township recently completed a comprehensive roadway improvement project, that is being financed with a loan for approximately $1.3 million from the NJ Transportation Bank, a low-rate funding program administered jointly by the NJDOT and the NJ I-Bank. Thanks to the program’s favorable loan terms, the township anticipates saving an estimated $313,272, approximately 25% of the total project cost, over the 20-year life of the loan. In addition to financial benefits, the project generated an estimated 15 one-year direct construction jobs, contributing to the local economy. The project involved milling and repaving 11 municipally owned streets across the township. The improvements enhance safety, accessibility, and quality of life for residents in Mendham.

According to Sarah Neibart, Mayor of Mendham Township, “These targeted improvements are part of a long-term strategy to maintain our infrastructure while leveraging cost-effective financing tools to minimize the burden on taxpayers. This project is a win for Mendham Township residents - enhancing our local roads, improving public safety, and saving money at the same time. By partnering with the NJ Transportation Bank, we’ve strategically invested in infrastructure that will serve our community for years to come. It’s the kind of practical, forward-thinking governance our residents expect and deserve.”

This project was designed and managed by French & Parrello Associates and constructed by Top Line Construction Corp.

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