From NJBIZ:
The U.S. Environmental Protection Agency said Thursday it has awarded nearly $84.5 million to New Jersey to help finance water infrastructure projects. The funds will primarily be used to upgrade wastewater and drinking water systems throughout the state.
EPA awarded $65,589,000 to the New Jersey Clean Water State Revolving Fund program and $18,957,000 to the New Jersey Drinking Water Revolving Fund program. These programs are administrated by the New Jersey Department of Environmental Protection and its financing program, the New Jersey Infrastructure Bank.
These awards, plus a 20 percent state match and repayments from prior CWSRF and DWSRF loans and interest earnings and bond issuances, will enable the financing of up to about $450 million of clean water and drinking water infrastructure projects in New Jersey, the EPA said.
“Working with our state and local partners to ensure our communities have affordable access to clean drinking water remains a critical priority for EPA,” said EPA Regional Administrator Pete Lopez in a statement. “We are pleased to provide significant funding as part of our overall efforts to help New Jersey meet its critical water infrastructure needs.”
Based on estimates from the U.S. Water Alliance, New Jersey’s CWSRF and DWSRF programs have the potential to create approximately 7,000 jobs.
