The New Jersey Department of Environmental Protection announced that the New Jersey Infrastructure I-Bank will receive $221 million WIFIA loan from EPA that will be used to finance 28 water infrastructure projects in the state of New Jersey. The WIFIA loan will not only support the modernization of water infrastructure in New Jersey, but will also generate 1,800 jobs and save $51 million State Revolving Funds.
EPA reported:
This WIFIA funding, combined with New Jersey SRF monies, will support $588 million in infrastructure for New Jersey communities that will advance public health, save money, and create local jobs. The New Jersey Infrastructure Bank’s pool of SRF projects include 26 drinking water projects that address local challenges, including removing contaminants, preventing leaks, improving system resiliency, and replacing lead service lines. Two wastewater projects will also receive funding. These projects will improve treatment capacity and provide higher a level of treatment at wastewater treatment facilities. The entities receiving this financing serve over 5.8 million people. This includes six disadvantaged communities that will receive approximately $360 million in financing or 61% of the total.
