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 letter of intent and planning document on or before October 5, 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 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 encouraged and should be scheduled during the summer prior to submittal of the letter of intent.

Specific dates for program submissions are set forth on the NJEIT forms page: www.njeit.org/forms.htm

2010 PROGRAM SCHEDULE