Project

NJ I-Bank Project of the Week: Hightstown Borough receives $1,149,627 in Water Bank loans saving ratepayers approximately $1,006,251.

 
The Borough of Hightstown recently completed drinking water improvements that are being financed with a “NANO” loan of approximately $1.5 million from the NJ Water Bank, a low-rate funding program jointly administered by the DEP and the NJ I-Bank. The NANO loan program offers principal forgiveness to small drinking water systems that serve 10,000 or fewer residents. Because the borough serves a population of less than 10,000 people, it qualifies for 50% principal forgiveness up to $1 million under the NANO program. Total savings for this project are estimated to be $1,006,251 over the 30-year term of the loan or 88% of the total project cost. In addition, this project created an estimated 13 direct construction jobs. 

The project replaced a 4-inch water main with an 8-inch water main on First Avenue between Center and Outcalt Streets. An 8-inch water main on Forman Avenue was extended from Stockton Street to the end of the avenue. The existing water mains were cleaned and relined along Stockton Street, between Center Street and the Borough Limits. All water service was transferred to the new or cleaned mains to provide better service to local users.

Susan Bluth, Mayor of Hightstown, noted the benefits of the project. “We’ve had tuberculated pipes, insufficiently sized mains, and water pressure that was not adequate for water usage or fire safety. This project has improved water flow in the western part of the borough, and it was priced strategically with help from the Water Bank to make all these advantages affordable.”

This project was designed by Roberts Engineering Group and constructed by Earle Asphalt Company, and Reivax Contracting Corporation.

 
Pictures courtesy of Roberts Engineering Group

Published 6/21/2023