May 7, 2008

Environmental Infrastructure Financing Program Submits 2008 Financial Plan to Legislature

TRENTON - The New Jersey Environmental Infrastructure Financing Program today submitted its 2008 Financial Plan to the New Jersey Legislature. This plan, which is prepared by the New Jersey Environmental Infrastructure Trust and the New Jersey Department of Environmental Protection, lists the drinking water and wastewater projects the Program intends to finance this year. Both houses of the legislature must approve the Financial Plan prior to implementation.

This year's financing program includes 54 clean water projects totaling approximately $495 million. Clean water projects include wastewater management, stormwater management and nonpoint source pollution control projects, landfill closures, open space land acquisition, brownfield remediation and well sealing. Nine previously financed projects have requested to receive supplemental loans totaling approximately $54 million.

The drinking water portion of this year's Program includes 37 projects totaling $124 million. Drinking water projects include rehabilitation or development of sources to replace contaminated water sources, treatment and storage facilities and transmission/distribution pipes to prevent contamination or improve water pressure to safe levels. Seven previously financed projects have requested to receive supplemental loans totaling approximately $32 million.

The total financing program estimated for this year is 107 projects for approximately $705 million.

CLICK HERE to view the 2008 Financial Plan.