Projects

NJ I-Bank Water Infrastructure News (WIN):  The City of Newark borrows $22,137,429 in Water Bank Loans saving ratepayers approximately $7,555,465.

The City of Newark (“Newark”) recently completed drinking water improvements that are being financed with approximately $22 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 $7,555,465 over the 30-year term of the loan or 34% of the total project costs as compared to Newark financing on its own. In addition, this project created an estimated 264 direct one-year construction jobs.

Newark implemented a series of physical and operational enhancements to increase the capacity of its Pequannock Water Treatment Plant (“PWTP”) under all water quality conditions. The project included optimizing coagulation processes, replacing filter media and the underdrain system, upgrading filter valves, and enhancing backwash pumps. Additionally, modifications to filter flow control introduced an air scouring system and upgraded the electrical and control systems.

“The upgrades at our Pequannock Water Treatment Plant, financed by the NJ Water Bank, ensure our customers get the safest, best tasting drinking water that more than satisfies standards set by the federal EPA,” said Newark Mayor Ras J. Baraka. “With low-interest rates we pay to NJ Water Bank, we save millions of dollars that can be passed on to our ratepayers.”

“This project helped us attain state-of-the-art water treatment technology to continually monitor and improve our water treatment process,” said Kareem Adeem, the Director of Newark’s Water & Sewer Utility. “Low-interest financing by NJ Water Bank, allows us to aggressively pursue more improvements to our vast water system.”

This project was designed by Kleinfelder and constructed by Spectraserv, Inc.

Pictures courtesy of the city of Newark

Published March 7, 2025