Funds to be distributed by Environmental Infrastructure Trust, well-regarded financier for clean-water projects for several decades
Tom Johnson reports for NJ Spotlight:
The state plans to help finance more than a half-billion dollars in clean water projects next year to reduce pollution from sewage treatment plants and to upgrade drinking-water systems.
A legislative package to provide money — funded by federal grants and repayment of loans — to scores of facilities won approval yesterday from the Assembly Environment Committee, measures expected to get to the governor’s desk before lawmakers break for their summer recess.
The legislation provides the funds to the state’s Environmental Infrastructure Trust, the popular and well-regarded financer of clean-water projects for the past several decades. Since its inception in the 1980s, it has funded $6.7 billion in upgrades for 1,234 projects.
In the upcoming 2018 fiscal year, the legislation will provide $539 million in low-interest loans mostly to local governments to upgrade their wastewater treatment plants and to improve plants delivering drinking water to customers throughout New Jersey.
In this year’s allocation, $323 million will be set aside for clean-water loans to wastewater plants and $216 million for drinking-water systems. Of the money going to the former, $224 million will be for loans to facilities making upgrades and repairs following Hurricane Sandy.
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