Important Construction Jobs Would Benefit from NJ Infrastructure Bank Financing
Clean water environmental infrastructure projects will move forward with help from legislation sponsored by Senator Kip Bateman and advanced by the Senate today.
Sen. Kip Bateman’s bill, advanced by the Senate, will help move forward vital clean water environmental infrastructure projects. (WikiMedia Commons)
The legislation, S-3211, would authorize the New Jersey Infrastructure Bank (NJIB) to expend additional sums to make loans for environmental infrastructure projects for Fiscal Year 2021.
“Environmental infrastructure projects like those for clean water and wastewater management are necessities,” said Bateman (R-16). “These expensive undertakings could be delayed indefinitely or postponed without affordable financing from the Environmental Infrastructure Trust. This funding will help vital projects proceed, protecting the flow of clean drinking water to communities throughout the state.”
Affordable loans would be available for more than 170 environmental infrastructure construction projects under Bateman’s bill, which would authorize the Infrastructure Bank 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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