Project

NJ I-Bank Water Infrastructure News (WIN): Montville Township borrows $2,473,787 in Water Bank Loans saving ratepayers approximately $561,013.

 The Township of Montville recently completed clean water improvements to its sanitary sewer system that are being financed with approximately $2.5 million in loans from the NJ Water Bank, a low-rate funding program jointly administered by the NJDEP and the New Jersey Infrastructure Bank (“I-Bank”). Total savings for this project are estimated at $561,013 over the 30-year term of the loan or 23% of the project cost, in comparison to the Township of Montville financing the project on its own. This project also created an estimated 29 direct construction jobs.

The proposed project connected 96 homes, originally served by septic systems, to Montville's sanitary sewer system. The septic systems in the project area were generally in poor condition resulting in critical groundwater and surface water contamination which posed a significant threat to drinking water and human health.

The connections required the installation of approximately 9,000 linear feet of 8-inch PVC pipe and 96 service laterals as well as road trench restoration. The connection of these properties to the established sewer system improved the water quality of nearby Lake Valhalla as well as ground and surface water.

Matthew S. Kayne, Mayor of Montville Township, stressed the need for the project. “This project provides health benefits to the community and the environment. Strategic financing through the Water Bank has allowed us to complete this essential work at affordable rates that will save our residents money in the long run.”

This project was designed by Kleinfelder Inc. and constructed by P.M. Construction.

Pictures courtesy of Kleinfelder

Published September 30, 2024