Projects

NJ I-Bank Water Infrastructure News (WIN):  Clinton Town borrows $1,816,181 in Water Bank Loans saving ratepayers approximately $416,079.

 Clinton Township recently completed improvements to its drinking water system that are being financed with approximately $1.8 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 to be $416,079 over the 30-year term of the loan or 23% of project costs, in comparison to Clinton financing the project on its own. This project also created an estimated 22 direct one-year construction jobs.

The project upgraded two of Clinton Township’s pump stations: the Foster Wheeler and Fox Fire pump stations that had outlived their useful lives and were not reliably serving customers. The project installed a jockey pump skid, which house pumps sized for average daily usage at both stations with two high-service booster pumps at Foster Wheeler and one at Fox Fire.

Janice Kovach, The Mayor of Clinton Town, listed the benefits of the project: “These improvements will enhance reliability for users, increase pumping efficiency, provide a dependable backup power source, improve accuracy in water metering, and ensure uninterrupted service for residential areas. Financing the project through the NJ Water Bank lowered our expenses which will save our ratepayers even more money over time.”

This project was designed by Suburban Consulting Engineers and constructed by Pact Two, LLC.

Picture courtesy of Suburban Consulting Engineers

Published December 18, 2024