Projects

NJ I-Bank Water Infrastructure News (WIN): $1.6 Million Water Bank Loan to Princeton saves ratepayers approximately $102,478.

 The Municipality of Princeton recently completed water quality improvements that are being financed with approximately $1.6 million in loans from the NJ Water Bank, a low-rate funding program jointly administered by the DEP and the New Jersey Infrastructure Bank (“I-Bank”). Total savings for this project are estimated at $102,478 over the 10-year term of the loan or 7% of the total project cost, in comparison to Princeton financing the project on its own. This project also created an estimated 18 direct construction jobs.

Most of the components of the Princeton sanitary sewer system are more than 50 years old. Maintenance and upgrading were necessary to protect public investment and extend its life. The reduction of groundwater infiltration and stormwater inflow (also known as “I/I”), reduced Princeton’s flow percentage, and corresponding cost, to the Stony Brook Regional Sewerage authority (“SBRSA”) providing substantial savings to the municipality with respect to sewage treatment. These I/I flows, on average, accounted for almost half of Princeton’s flow to the SBRSA River Road Treatment Plant. To mitigate the I/I, Princeton lined and replaced sanitary sewer mains, laterals, and manholes. In addition to reducing I/I flow, the new infrastructure helped to prevent wastewater flow from filtrating out of the system providing an overall water quality benefit to the area.

The project also provided pedestrian improvements on Linden Lane between Nassau Street and Henry Avenue; the entire length of Spruce Street; and Maple Street from Spruce Street to the northern end.

According to Mark Freda, Mayor of Princeton, “This project saves money and water, benefiting the financial and environmental health of the community. Add to that lifestyle improvements due to enhanced pedestrian walkways and we have gained a lot of benefit for relatively little expenditure. Borrowing from the NJ Water Bank was a strategic decision that will save our ratepayers in the long run.”

This project was managed by the Princeton Sewer Operating Committee and constructed by Integrated Construction & Utilities of NJ, LLC.

Picture courtesy of the municipality of Princeton.

Published December 11, 2024