Advice from Applicants

Advice from Applicants

Finally, before you dive into the application, take some advice from other municipalities and municipal utilities authorities who have successfully utilized the Water Bank to finance environmental infrastructure projects. We asked them:

Do you have any advice for other applicants navigating Water Bank Financing for the first time?

  • Do it! Pursue the funding.
  • Good communication among a municipal team and between the municipal team, DEP staff and I-Bank Financial staff is critical.
  • Get a good consultant and bond counsel who have experience with the Water Bank.
  • Visit the H2LOans website.
  • Call the I-Bank for information up front. Staff is accessible and interested in answering your questions and guiding you to the correct path.
  • Once you decide to apply for the program, submit a one-page project information page and participate in a pre-planning conference call to receive an overview of the financing program and application process, and discuss your project.
  • Talk to other municipalities or MUAs who have gone through the application process and ask them for advice.
  • Make sure you have your cost estimates together and ready to input.
  • Remember that your cost estimate is an estimate, it is not a commitment until you sign a loan agreement.
  • Have contact information secured for all team members.
  • If you're doing it for the first time, make sure you hire a consultant that is well-versed in the program. There are intricacies, quirks and timelines and you need someone who has gone through the program to work with you. Once you go through it a couple of times, it becomes like second nature.
Advice from Applicants
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NEW JERSEY INFRASTRUCTURE BANK APPLICANT'S GUIDE