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 BORROWER: New Jersey Infrastructure Bank LOCATION: Statewide WIFIA LOAN AMOUNTS: $221 million TOTAL WIFIA PROJECT COSTS: $588 million POPULATION SERVED BY PROJECTS: 5.8 million NUMBER OF JOBS CREATED: 1,858 jobs PROJECT DESCRIPTION The New Jersey Infrastructure Bank's WIFIA loan will provide additional financing to the New Jersey State Revolving Fund Program to enable its support for twenty-six drinking water projects and two wastewater projects throughout the state. The projects Include efforts to remove contaminants from drinking water, improve treatment capacity, prevent leaks, improve system resiliency, and replace lead lines. These improvements to drinking water and clean water systems will protect the state's natural resources and public health. Seventeen entities serving over 5.8 million people will receive this financing to address their communities' water infrastructure challenges while keeping rates affordable. This includes six communities that satisfied the New Jersey State Revolving Fund's Affordability Criteria and will receive approximately $360 million in financing. PROJECT BENEFITS • Provides financing to borrowers throughout the state, including six entities that meet the State Affordability Criteria and nine serving small and medium-sized communities. • Provides significant environmental benefits including improved water quality and increased access to safe drinking water. • Allows the New Jersey SRF to utilize $51 million less of State SRF funds while providing participating borrowers with the same funding package. WIFIA PROGRAM Photo credit: New Jersey Infrastructure Bank £% United States Environmental Protection kl m % Agency WEBSITE: www.epa.gov/wifia EMAIL: wifia@EPA.gov ------- |