Projects

NJ I-Bank Water Infrastructure News (WIN): the City of Hoboken borrows $22,255,727 in Water Bank Loans, saving ratepayers approximately $13,150,821.

 The City of Hoboken recently completed a state-of-the-art green infrastructure project that is 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”). Because this project addressed CSO issues, this project was eligible for $1 million in principal forgiveness (“PF”). Total savings for this project, including PF and lower interest costs, are estimated to be $13,150,821 over the 30-year term of the loan or 59% of the total project costs as compared to the city financing it independently. In addition, this project created an estimated 264 direct construction job years.

The ResilienCity Park (a former BASF Property) is a multi-phase project that includes the acquisition, environmental investigation, design, planning, and construction of a 5.4-acre park in Northwest Hoboken. The park was designed to serve as both a recreational area and a flood mitigation solution for the city, which is prone to flooding due to its low elevation and proximity to the Hudson River. The park features advanced stormwater management systems, including underground detention tanks capable of holding up to 1 million gallons of water. The North Hudson Sewerage Authority (“NHSA”) designed the systems to absorb and store stormwater during heavy rainfall events, treat for water quality, and either reuse for irrigation or pump to discharge through the existing NHSA outfall. The on-site stormwater management measures are designed to manage all rainwater falling on-site and on adjacent roadways to accommodate up to a 10-year, 12-hour rain event. The design reduces the risk of flooding in surrounding neighborhoods.

The park was designed through a community planning process to include a multi-purpose athletic field, play areas, trees, lowland rain gardens, a central civic terrace, ice rink/fountain, and open space. Native plants and sustainable design elements enhance biodiversity and reduce maintenance needs. The park also offers community and educational opportunities with a space for public gatherings, cultural events, and educational programs focused on climate resilience and environmental stewardship.

This project in conjunction with the NHSA project to install a high-level storm sewer system, pumping station, and discharge, will reduce CSO events in the H6/H7 sewer sheds from an average of four per month to an average of four per year.

According to Ravi S. Bhalla, Mayor of Hoboken, “This park is a cornerstone of Hoboken’s broader initiative to build a resilient urban environment in the face of climate change and the growing frequency of extreme weather events. It exemplifies our city’s commitment to climate adaptation and sustainable urban planning, showcasing how urban parks can simultaneously address environmental, recreational, and community needs. Strategic financing through the Water Bank, allowed us to achieve these goals with principal forgiveness and significant savings for the community.”

This project was designed jointly by Hoboken in-house staff, ELP Inc., and the NHSA, and constructed by Tomco Construction

Pictures courtesy of Hoboken City

Published March 26, 2025