Affordable loans would be available for more than 170 environmental infrastructure construction projects under legislation sponsored by Senators Kip Bateman (R) that was approved yesterday by the Senate Environment and Energy Committee.
The legislation, S3211, would help fund 178 environmental infrastructure projects and protect the flow of clean water in the state with low-interest and market-rate financing from the New Jersey Infrastructure Bank in FY 2021.
“This funding will help vital projects proceed, protecting the flow of clean drinking water to communities throughout the state,” said Bateman (R-16). “These costly undertakings could be delayed indefinitely or postponed without the affordable funding available from the Environmental Infrastructure Trust.”
Eligible projects include 123 from the “Storm Sandy and State Fiscal Year 2020 Clean Water Project Eligibility List” and 44 projects from the “Storm Sandy and State Fiscal Year 2020 Drinking Water Project Eligibility List.”
Other funding bills released by the Senate committee were:
S3227 Bateman (R) and Codey (D) Appropriates $3.7 million from constitutionally dedicate corporation business tax revenue to the State Agriculture Development Committee (SADC) for farmland preservation. Grants provided by the bill fund up to 50 percent of the cost of development easements on farmland for preservation purposes, or up to 50 percent of the cost of acquiring fee simple titles to farmland for resale or lease with agricultural deed restrictions.
S3229 Codey (D) and Corrado (R) Appropriates $37.16 million to the Department of Environmental Protection (DEP) to fund capital projects and park development on land administered by DEP’s Division of Parks and Forestry, and Division of Fish and Wildlife, pursuant to the Preserve New Jersey Act.
S3230 Greenstein (D) Corrado (R) Bateman (R) Appropriates $30.3 million to DEP to fund state acquisition of lands for recreation and conservation purposes, including Blue Acres projects for flood-prone properties.
Don’t miss great information like this. Subscribe to Enviropolitics Blog
