Since issuing the first loan in 1987, the New Jersey Infrastructure Bank ("I-Bank") has partnered with the Department of Environmental Protection ("DEP") to jointly fund and manage the State of New Jersey's Water Bank, 9 which provides low-cost financing for environmental infrastructure projects, including green infrastructure projects.
The Water Bank leverages Federal and State Revolving Funds with publicly issued bonds to provide low interest rate loans for the planning, design and construction of clean water infrastructure projects and purchase of related equipment.
THE GOAL OF THE WATER BANK IS TO PROVIDE FUNDING TO NEEDED, CONSTRUCTION READY, HIGHLY-RANKED WATER QUALITY IMPROVEMENT PROJECTS.
According to DEP, "green Infrastructure" (GI) refers to methods of stormwater management that allow the stormwater to infiltrate, to be treated by vegetation or by soils; or to be stored for reuse. GI practices include, but are not limited to the following:
For more information, see the "Green Infrastructure Basics" section at the beginning of the guide.
Green infrastructure projects are effective, economical, and enhance community safety and quality of life. According to DEP's report "Evaluating Green Infrastructure: A Combined Sewer Overflow Control Alternative for Long-Term Control Plans," the benefits of green infrastructure are threefold: environmental, social and economic:
Using the Water Bank to finance GI projects provides significant benefits. According to a 2018 report by the I-Bank to the State Legislature, these benefits include the following:
There are additional benefits for green infrastructure applications in CSO communities. For example, in SFY2019, The Water Bank provides 50% principal forgiveness, 25% DEP interest-free financing, and 25% I-Bank market-rate financing for GI projects that manage stormwater to reduce the overflow of untreated wastewater from CSOs. Please note that these terms are subject to change, and that applicants should consult the current year's Intended Use Plan.
Finally, green infrastructure projects are an alternative that must be evaluated as part of the development of Long Term Control Plans. For more information, please consult DEP's January 2018 report "Evaluating Green Infrastructure: A Combined Sewer Overflow Control Alternative for Long-Term Control Plans."
The Water Bank provided New Jersey Future with a list of every green project funded in FY2015 through FY2017 and a list of green projects in the pipeline for FY2018 and beyond. These projects and their respective application information are shown in Tables 1 and 2 below.
Table 1: Projects with green infrastructure funded by the Water Bank from SFY2015 to SFY2017
|FY||Project Sponsor||Project Number||Legislature Report Cost Amount||Description|
|2015||Camden County MUA||S340640-14||$5,657,000||Green Infrastructure/CSO - Construction of 10 new rain gardens in Camden; replacing deteriorating combined sewer pipes; and remediation & construction of the second and final phase of Phoenix Park, a bioretention park.|
|2015||Hoboken City||S340635-04||$10,587,764||Below-grade Wet Weather Pump Station - This sustainable stormwater component comprises four 1,200-gallon aboveground rainwater tanks (cisterns) to capture rainwater runoff from the roof of City Hall, and rain gardens in the northwest and southwest corners of the building that utilize the captured water.|
|2017||Camden County MUA||S340640-15||$5,333,565||Green Infrastructure/CSO - Construction and installation of rain gardens, planter boxes, porous concrete sidewalks, and porous pavement to manage stormwater runoff from impervious areas and reduce pressure on Camden City's combined sewer system.|
|2017||Elizabeth City||S340942-19||$6,435,644||Green project component: This project will include a test case for installing Green Infrastructure. A bioswale will be installed on the northeast side of Trumbull Street, a rain garden will be installed in the proposed park and if possible, and tree boxes will be installed along Bond Street.|
|2017||Hoboken City||S340635-05||$4,172,126||Acquisition / GI CSO - The newly opened Southwest Park addresses local flooding issues with green infrastructure and an underground retention system designed to handle a 10- year storm. The park's design combines passive rainwater collection, permeable paving, rain gardens and bioswales with sub-surface storage beneath a new community park.|
|2017||Hoboken City||S340635-06||$31,091,350||Acquisition / GI CSO - The acquisition/environmental investigation/design and planning of a 5.4-acre park in northwest Hoboken. Includes stormwater retention, public park/open space, and sub-surface stormwater quality treatment. The sub-surface stormwater storage will allow approximately 1 million gallons of stormwater flows to be received, treated and discharged.|
Table 2: Projects with green infrastructure in the Water Bank pipeline (SFY2018 and beyond)
|Anticipated FY||Project Sponsor||Project Number||Legislature Report Cost||Description|
|2018+||Camden County MUA||S340640-17||$ 6,650,000||Green and Gray Infrastructure/CSO|
|2018+||Camden County MUA||S340640-20||$ 6,500,000||Camden City Green Infrastructure|
|2018+||Elizabeth City||S340942-17||$ 5,500,000||South Street Storm Water Resiliency|
|2018||Hoboken City||S340635-07||$ 5,000,000||Resilient Green Infrastructure for CSO Reduction|
|2018+||Hoboken City||S340635-08||$ 6,600,000||Southwest Resiliency Park Phase 2 - Acquisition and Rehabilitation|
|2018||Jersey City MUA||S340928-22||$ 750,000||Green Infrastructure - Planter boxes, rain gardens, permeable surfaces|
|2018+||Jersey City MUA||S340928-27||$ 500,000||Green Infrastructure - Martin Luther King Drive Tree Trenches|
|2018+||Newark City||S340815-25||$ 400,000||Green Infrastructure - permeable surfaces|
|2018+||Newark City||S340815-27||$ 3,800,000||Porous pavements, rain gardens, stormwater planters, and tree trenches|
|2018||Perth Amboy City||S340435-13||$ 850,000||The Paving of Parking Lots C and RDH (GI)|
|2018+||Perth Amboy City||S340435-14||$ 2,608,000||CSO Reparation (Pulaski Avenue / Parker Street / State Street)|
|2018+||Perth Amboy City||S340435-17||$ 4,418,400||Second Street Corridor Project - Green Infrastructure as pedestrian safety features|
|2018+||Seaside Park Borough||S344200-02||$ 2,800,000||Barnegat Bay Watershed Green Infrastructure Reconstruction of Parking Lots|
Applicants should consult
Please note that if there is a discrepancy between the Applicants Guide and these additional resources, applicants should refer to the source document or contact the I-Bank with questions at (609) 219-8600 or email@example.com.
For financing questions, call or email the I-Bank at (609) 219-8600 or firstname.lastname@example.org.
For project and technical question, call the NJDEP Water Bank staff at (609) 292-8961.
You can also consult the Information Contact Sheet on the following page.
|Information Contact Sheet|
3131 Princeton Pike, Bldg. 4, Suite 216
Lawrenceville, NJ 08648
Web page: www.njib.gov
|David Zimmer, Executive Director
|Judy Karp, Assistant Director
Legal & Compliance Officer
|Richard Nolan, Bond Counsel
McCarter & English, LLP
|Leigh Peterson, COO Water Bank
(Water Bank questions)
|Geoffrey Stewart, Financial Advisor
Public Financial Management
|Lauren Kaltman, CFO
401 East State Street
PO Box 420, Mail Code 401-03D
Trenton, NJ 08625-0420
Web page: www.nj.gov/dep/dwq/
|Patricia Gardner, Assistant Commissioner
|Clean Water SRF
|Janice Brogle, Director
|Eugene Chebra, Assistant Director
|Paul Hauch, Bureau Chief
Construction, Payments & Administration
(General questions and project eligibility)
|William Machotka, Section Chief
(Construction Oversight questions)
|Charles Jenkins, Section Chief
Engineering Review Section
|Karen Cole, Section Chief
Environmental Review Section
|Trevor Shields, Project Manager
(Engineering & Environmental questions)
9 Until 2018, this program was known as the New Jersey Environmental Infrastructure Financing Program ("NJEIFP").
3131 Princeton Pike, Building 4 Suite 216
Lawrenceville NJ, 08648 T. 609 219 8600