Executive Director David E. Zimmer, CFA
New Jersey Infrastructure Bank
New Jersey Infrastructure Bank
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NEW BRUNSWICK, NJ – The city has unveiled a $36 million plan to make sweeping improvements to its water treatment plant and expand its membrane plant where water is filtered.
City Administrator Michael Drulis said the city will borrow the money for these projects through the Infrastructure Bank (I-Bank), a state-authorized agency that provides funding to municipalities at subsidized rates. Through the I-Bank, the city will pay 0% interest on half the money it borrows.
"So, because we go to the I-Bank, they work with the Department of Environmental Protection and they're helping us finance the whole program, which is saving the city millions of dollars," Drulis said. Read more: https://bit.ly/NewBrunswickPipes
