This week, New Jersey governor Phil Murphy signed a bill to ensure the state’s environmental infrastructure projects will be approved and continue through the new fiscal year. The bipartisan bill (S-2499) appropriates $1.167 billion in state and federal funds for clean water and environmental projects.
The measure appropriates money to the Department of Environmental Protection’s (DEP) New Jersey Infrastructure Bank Financing Program. It will be used to help “local government units, municipal, county and regional authorities, and small water companies with loans at or below the prevailing rates for qualifying clean water projects.”
State senator Kip Bateman, who co-sponsored the bill, said this will make sure that essential projects such as renovations an updates to water treatment facilities and wastewater controls damaged in 2012 by Superstorm Sandy will continue without putting more of the financial burden on property taxpayers.
The bill also authorizes the DEP to make clean water project loans to four municipalities in the Pinelands area that are receiving funding under the “Pinelands Infrastructure Trust Fund.” Disaster Relief Emergency Financing Program loans will still be available for short-term financing for projects to repair or improve the resiliency of environmental infrastructure systems adversely impacted by Storm Sandy, according to the bill.