Assists Crucial Work with Affordable Funding from the NJ Infrastructure Bank
Affordable loans would be available for more than 170 environmental infrastructure construction projects under legislation sponsored by Senator Kip Bateman and approved today by the Senate Environment and Energy Committee.
Senator Bateman’s legislation would help fund 178 important environmental infrastructure projects and protect the flow of clean water in the state. (Pixabay)
The bill, S-3211, would support clean water and wastewater projects across the Garden State with low interest rate financing from the New Jersey Infrastructure Bank.
“This funding will help vital projects proceed, protecting the flow of clean drinking water to communities throughout the state,” said Bateman (R-16). “These costly undertakings could be delayed indefinitely or postponed without the affordable funding available from the Environmental Infrastructure Trust.”
This bill would authorize the Infrastructure Bank (NJIB) to expend additional sums to make low interest and market-rate loans for environmental infrastructure projects for Fiscal Year 2021.
Eligible projects include 123 from the “Storm Sandy and State Fiscal Year 2020 Clean Water Project Eligibility List” and 44 projects from the “Storm Sandy and State Fiscal Year 2020 Drinking Water Project Eligibility List.”
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