Project

NJ I-Bank Project of the Week: Stafford Township receives $2,931,984 in Water Bank loans saving ratepayers approximately $1,051,468.

 
Stafford Township recently completed clean water improvements that are being financed with approximately $3 million in loans from the NJ Water Bank, a low-rate funding program jointly administered by the DEP and the NJ I-Bank. Including interest cost savings, total savings for this project is estimated to be $1,051,468 over the 30-year term of the loan or 36% of the total project cost. In addition, this project created an estimated 35 direct one-year construction jobs.

The Beach Haven West sanitary rehabilitation was the first part of a multi-phased project that replaced failing asbestos cement pipes with approximately 8,150 linear feet of an 8-inch PVC sanitary sewer main. The project included the construction of 30 new sanitary sewer manholes, and 242 new sewer laterals and cleanouts. Drainage catch basins were replaced, new cross drains were installed, and the road repaved.

The sanitary sewer main had reached its useful life and undergone emergency repair in several locations. In addition, the project was located in a flood hazard area in a lagoon community with high water tables, often experiencing elevated levels of water infiltration. Repairing the pipes helps prevent excess runoff, enhancing resilience during major storm events.

Gregory E. Myhre, Mayor of Stafford Township stressed the need for the project. “Replacing these pipes will prevent emergency repairs, not only saving us money, but preventing seepage into the surrounding groundwater and estuaries. Storm system improvements have also mitigated excessive runoff and improved water quality in the surrounding areas of town. All these financial and environmental benefits were accomplished with the low-rate financing offered by the Water Bank, saving our ratepayers into the future.”

This project was designed by Remington Vernick Engineers and constructed by P & A Construction, Inc.

Pictures courtesy of Remington Vernick Engineers

Published October 25, 2023