FINANCING SCHEDULE

The DEP and the NJ Environmental Infrastructure Trust use a 13-month schedule for the loan process. It begins with the submittal of a commitment letter and planning document on or before October 15, and ends with loan closing in the first week of November of the following year.

In addition, the program has a provision that allows projects to be approved prior to the award of the loan. Borrowers who obtain pre-award approval from both DEP and the Trust may actually commence construction on their project once all necessary permits and approvals are obtained. Construction costs incurred prior to loan closing will be reimbursed following closing.

In all cases, a pre-planning meeting is mandatory and should be scheduled during the summer prior to submittal of the commitment letter.

2008 PROGRAM SCHEDULE