The Water Infrastructure Finance and Innovation Act (WIFIA) program accelerates investment in our nation's water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects. NEW JERSEY WATER AND WASTEWATER INFRASTRUCTURE PROJECTS (LOAN #2) BORROWER: New Jersey Infrastructure Bank LOCATION: Statewide WIFIA LOAN AMOUNT: $500,000,000 TOTAL WIFIA PROJECT COSTS: $1,085,166,103 POPULATION SERVED BY PROJECTS: 10.5 million people NUMBER OF JOBS CREATED: 16,100 jobs PROJECT DESCRIPTION The New Jersey Infrastructure Bank's second WIFIA loan will provide financing to the New Jersey Clean Water and Drinking Water State Revolving Fund Programs (SRFs) to accelerate investment in 106 wastewater projects and 33 drinking water projects throughout the state. Projects will include contaminated groundwater remediation, water distribution systems rehabilitation, lead service line and contaminated pipe replacement, PFAS filtration systems installation, residential and industrial water meters replacement, and stormwater management and collections system modernization. They will protect public health and water quality, prevent flooding, support compliance with regulatory requirements, and enhance climate resiliency. Over 90 communities, including 36 small and rural communities and 39 disadvantaged communities, will benefit from these projects. The New Jersey Infrastructure Bank's WIFIA loan will be combined with SRF monies to make even more funding available to communities over the next 5 years. PROJECT BENEFITS • Provides significant environmental and public health benefits, including emerging contaminant remediation, lead service line replacement, and stormwater management. • Supports projects that serve over 90 communities statewide, including 36 small and rural communities and 39 disadvantaged communities. • Saves the New Jersey Infrastucture Bank approximately $62.5 million by financing with a WIFIA loan. WIFIA PROGRAM Photo Credit: New Jersey Infrastructure Bank £% United States Environmental Protection kl m % Agency WEBSITE: www.epa.gov/wifia EMAIL: wifia@EPA.gov ------- |