New Jersey Infrastructure Bank

Issuer
Overview
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New Jersey Infrastructure Bank

Issuer Type: Pool/Bond Bank/Conduit

Revenue

Moody's
Aaa
S&P
AAA
Fitch
AAA

Welcome to Our Investor Relations Site

David E. Zimmer, CFA

On behalf of the New Jersey Infrastructure Bank (I-Bank), I would like to welcome you to our investor relations website. We appreciate your interest and investment in bonds issued by the I-Bank, as it allows us to make critical investments in public infrastructure throughout New Jersey. We are committed to maintaining our strong bond ratings and being as transparent as possible with the investor community and the public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of the I-Bank’s financing programs. Please do not hesitate to contact our office with suggestions for how we might serve the investor community better. Thank you again for your interest in our financing programs.

David E. Zimmer, CFA, Executive Director

News & Highlights

June 9, 2021

News
Bond Sale May 25, 2021

The Murphy Administration invested $386 Million in Water Infrastructure, creating more than 4,600 construction jobs.

Infrastructure projects are supported by zero-interest NJDEP loans and NJ Infrastructure Bank sale of $122.5 Million in Green Bonds.

Governor Murphy’s continuing commitment to infrastructure investments enhance public health, protect the environment, and create green jobs. The NJ Infrastructure Bank (I-Bank) working in partnership with the NJDEP sold $122.5 million of AAA/Aaa rated Environmental Infrastructure Bonds, Acting DEP Commissioner Shawn LaTourette and I-Bank Chair Robert Briant, Jr. announced today.

“As New Jersey recovers from the pandemic, we must seize the opportunity to create family-sustaining green jobs that put our residents back to work building the critical water infrastructure that our state needs to protect our environment and public health,” Acting DEP Commissioner Shawn LaTourette said. “Through the DEP’s incredible partnership with the I-Bank, we combine forces to create the New Jersey Water Bank, which offers innovative and affordable financing for water purveyors and local governments to make investments that promote the public good.”

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April 12, 2021

News
4th Quarter Transportation Allocations

NJ Transportation Bank announces the recipients of funding allocations for the 4th quarter of SFY2021!

Camden County has been allocated $15,058,710 for the replacement of the White Horse Road Bridge over PATCO and NJ TRANSIT Rail Lines.

  1. Bloomfield Township has been allocated $6,980,703 for the 2021 Roadway Reconstruction Program.
  2. Raritan Township has been allocated $789,207 for the Case Blvd Reconstruction.
  3. Orange City has been allocated $1,868,500 for its 2021 traffic lights project.  The City has also been allocated an additional $1,212,000 for its Main Street Streetscape and Traffic Control project, which had been originally allocated in SFY2021-Q1.
  4. Bayonne City has received an additional allocation of $768,584 for the E. 25th Street Pedestrian Bridge Replacement, which had been originally allocated in SFY2020-Q3.

These allocations are based on each project's ranking on the Transportation Bank Project Priority List, as determined by the NJDOT's ranking methodology, as well as the project's readiness to proceed, and are subject to availability of Program funds as well as the Project Sponsor's agreement with the project's Scheduled Award Date.

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May 7, 2020

News
NJ Water Bank Offers Principal Forgiveness for CSO Abatement Projects

The management of storm water runoff has become a priority for many communities in New Jersey in recent years due to the increase of and impact from extreme weather events. Some of the most complicated problems with storm water management occur in Combined Sewer Systems (CSS). In the late 1800s and early 1900s many cities built CSSs, which at the time provided a contemporary solution for conveying sewage and stormwater efficiently from urban areas. In optimal conditions, the stormwater and sewage were combined and conveyed to a sewage treatment plant. But today, with population growth and the concentrated development in urban areas, the piping system of a CSS can become overwhelmed by volume. In such instances, excess flows are diverted (stormwater AND sewage) into nearby waterways through combined sewer overflow (CSO) outfalls. This excess combined sewage can also flood and back up into neighborhoods, which can be a threat to human health. The abatement of CSOs is an expensive and complicated problem to address since urban areas where CSSs exist are often fully developed and because control alternatives, such as sewer separation, can result in significant disturbances. In addition, due to the inter-connected nature of sewer systems among neighboring communities, a downstream region’s strategy for addressing its CSOs is directly impacted by the amount of flows from their upstream neighbors which impacts the pipe capacity of the CSS, thereby increasing the likelihood of CSOs.

In response to the Clean Water Act, the National CSO Policy, and the New Jersey Pollutant Discharge Elimination System (NJPDES) Regulations, the NJ Department of Environmental Protection (NJDEP) issued 25 individu al NJPDES permits  to require the submission of a Long-Term Control Plan (LTCP) to reduce or eliminate CSOs.    These permits were issued to the permittee who owns/operates the combined sewer system as well as the permittee who owns/operates the receiving wastewater treatment plant. These permits affect 21 municipalities in New Jersey with CSO outfalls. The permit requirements stress the development of regional strategies to reduce the amount of storm water that flows into CSSs and requires the municipality and sewage treatment plant to work cooperatively. Public participation and engagement are also requirements of the permit throughout the LTCP process.

Conventional stormwater management techniques include pipes, sewers, expansion of the sewage treatment plant capacity and other structures that are often referred to as “gray infrastructure.” One of the more common practices is known as off-line storage, where combined effluent is diverted to a tank, a basin, or a deep tunnel until either the rain event has subsided, or a wastewater treatment plant has the capacity to treat the discharge.

Green infrastructure can also be utilized to abate CSOs. Green infrastructure projects simulate natural hydrologic methods to reduce the quantity and rate of stormwater flow to the CSS. Green infrastructure strategies can include rain gardens, bioswales, porous pavement, green roofs, infiltration planters, trees, and rainwater harvesting rain gardens. These small-scale green infrastructure strategies help to keep stormwater out of the CSS through infiltration, evapotranspiration, and rainwater harvesting. The capture and reuse of rainwater preserves the resource and keeps it out of the CSS during critical storm events. Green infrastructure is also compatible with the principals of Low Impact Development, a land development policy that reproduces natural methods of managing stormwater as close to its source as possible.

The   21   New   Jersey   municipalities   with   CSSs are encouraged to include green infrastructure projects in their LTCPs because these measures can contribute to CSO control while providing environmental, social, and economic benefits. In addition to alleviating flooding issues, green infrastructure can improve water and air quality, reduce energy use and urban heat island effects, create green jobs and improve quality of life. Larger scale green infrastructure strategies can also increase recreational and economic opportunities, improve wildlife habitat and biodiversity, and help mitigate flooding. Redevelopment opportunities become more promising as well when infrastructure can handle the population intended to use it.

As community leaders become aware of additional available funding sources, such as the NJ Water Bank, a financing program run jointly by the NJDEP and the NJ I-Bank, they can overcome some of the obstacles that have been impeding critical infrastructure repair. The NJ Water Bank is a vanguard lending institution in the State, helping communities take advantage of available funds with low-interest rate loans and principal forgiveness loans. The Water Bank has dedicated $25 million in Principal Forgiveness Loans for Combined Sewer Overflow Abatement projects utilizing gray and green practices. When NJ entities are willing to invest in their water infrastructure, the benefits are numerous.  By doing so, these entities contribute to the stimulation of the economy, the reduction of environmental and health impacts, and the enhancement of communities with neighborhood beautification.

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