{"id":1328,"date":"2023-04-17T14:40:03","date_gmt":"2023-04-17T18:40:03","guid":{"rendered":"https:\/\/deptest.nj.gov\/wiip\/?page_id=1328"},"modified":"2024-01-19T15:46:32","modified_gmt":"2024-01-19T20:46:32","slug":"about-us","status":"publish","type":"page","link":"https:\/\/deptest.nj.gov\/wiip\/njwb-process\/about-us\/","title":{"rendered":"About Us"},"content":{"rendered":"

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The New Jersey Water Bank<\/span><\/h1>\n

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The Partnership: The New Jersey Water Bank<\/h3>\n

 <\/p>\n

The\u00a0New Jersey Water Bank (NJWB)<\/a>\u00a0is a partnership between the New Jersey Department of Environmental Protection (NJDEP)<\/a> and the\u202fNew Jersey Infrastructure Bank (I-Bank)<\/a>, providing low-cost financing for the design, construction, and implementation of projects aimed at protecting and improving water quality, as well as ensuring safe and adequate drinking water for New Jersey residents. It finances projects using revenue bonds issued by the I-Bank and funds administered by the NJDEP, including Federal State Revolving Fund (SRF) capitalization grants, state matching funds, loan repayments, state appropriations, and interest earned.<\/p>\n

The NJWB implements the Water Infrastructure Investment Plan (WIIP)<\/a> to efficiently allocate and spend the federal funds provided by the Bipartisan Infrastructure Law (BIL) and the American Rescue Plan Act (ARPA) for water infrastructure improvements in the state. Intended Use Plans (IUPs)<\/a> are an integral component of the Water Bank and WIIP. These plans detail the specific allocation of funds for various water infrastructure projects, outline project priorities, and determine funding packages through the Clean Water and Drinking Water State Revolving Funds (SRFs).<\/p>\n

WIIP Sessions<\/a> are held throughout the year to engage stakeholders and the public in the planning and allocation process. These sessions aim to provide updates on the WIIP, discuss intended use plans, funding sources, and technical assistance<\/a> programs for water systems, and gather input on priorities, funding packages, and project types.<\/p>\n

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Funding<\/h3>\n

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Below Market Rate
\nFunding<\/h3>\n

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Water Bank Stats<\/h3>\n

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Since 1987<\/strong>
\n<\/i> $7.6B<\/strong> in low-interest loans
\n<\/i> $1.48B<\/strong> in short-term construction loans<\/h3>\n

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Saved an estimated
\n<\/i> $2.76B<\/strong> in financing costs.
\nBorrowers save
\n<\/i> $0.5M<\/strong> in interest per
\n<\/i> $1M<\/strong> borrowed<\/h3>\n

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Projects financed by the Water Bank generated 140k<\/strong> direct construction jobs.<\/h3>\n

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1,666 projects through 1,414 loans
\n<\/i> 72%<\/strong> Clean Water
\n<\/i> 28%<\/strong> Drinking Water<\/h3>\n

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Water Bank Stats<\/h3>\n

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Since 1987
\n$7.6B<\/strong> in low-interest loans$1.48B<\/strong> in short-term construction loans<\/h5>\n

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Saved an estimated $2.76B<\/strong> in financing costs
\nBorrowers save $0.5M<\/strong> in interest per $1M<\/strong> borrowed<\/h5>\n

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Projects financed by the Water Bank generated 140K<\/strong> direct construction jobs<\/h5>\n

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1,666<\/strong> projects though 1,414 loans<\/strong><\/h5>\n

72%<\/p>\n

Clean Water
\n 28%<\/strong> Drinking Water<\/h5>\n

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Benefits<\/h3>\n

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Up to 30 Year loan term<\/span><\/h3>\n

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Rolling Applications<\/span><\/h3>\n

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No deadlines<\/span><\/h3>\n

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Rolling Awards for Clean Water Projects<\/strong> <\/span>
\nbased on readiness to proceed<\/span><\/h3>\n

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Drinking Water Loan Awards<\/strong> based upon readiness ad Priority Ranking<\/span><\/h3>\n

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Construction “Bridge” Loans<\/span><\/h3>\n

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No “out-of-pocket” costs<\/span><\/h3>\n

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Up to 30-year loan term<\/h2>\n

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Rolling Applications<\/h2>\n

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No Deadlines<\/h2>\n

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Rolling Awards for Clean Water Projects<\/strong> based on readiness to proceed<\/h5>\n

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Drinking Water Loan Awards<\/strong> based upon readiness and Priority Ranking<\/h5>\n

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Construction “Bridge“ Loans<\/h3>\n

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No “out-of-pocket“ costs<\/h2>\n

” shape=”round” color=”primary” align=”center” el_class=”factbutton lightbutton”][\/vc_column][vc_column width=”1\/6″][\/vc_column][\/vc_row][vc_row disable_element=”yes”][vc_column][vc_single_image image=”1999″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Questions, Comments?
\nContact us.<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

[vc_row full_width=”stretch_row_content_no_spaces” css=”.vc_custom_1667397770153{padding-top: 200px !important;background-image: url(https:\/\/deptest.nj.gov\/wiip\/wp-content\/uploads\/sites\/169\/njdep-bank-banner.jpg?id=904) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_row_inner content_placement=”bottom” css=”.vc_custom_1667397959064{background-color: rgba(10,10,10,0.6) !important;*background-color: rgb(10,10,10) !important;}”][vc_column_inner][vc_column_text] The New Jersey Water Bank [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row][vc_column][breadcrumb-shortcode][\/vc_column][\/vc_row][vc_row content_placement=”middle”][vc_column width=”1\/4″ offset=”vc_hidden-sm vc_hidden-xs”][vc_single_image image=”887″ alignment=”center”][vc_single_image image=”893″ alignment=”center”][\/vc_column][vc_column width=”3\/4″][vc_column_text] The Partnership: The New Jersey Water Bank   The\u00a0New Jersey Water Bank (NJWB)\u00a0is a partnership between the New Jersey Department of […]<\/p>\n","protected":false},"author":251,"featured_media":0,"parent":1320,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"fullwidth.php","meta":{"footnotes":""},"class_list":["post-1328","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/pages\/1328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/users\/251"}],"replies":[{"embeddable":true,"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/comments?post=1328"}],"version-history":[{"count":0,"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/pages\/1328\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/pages\/1320"}],"wp:attachment":[{"href":"https:\/\/deptest.nj.gov\/wiip\/wp-json\/wp\/v2\/media?parent=1328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}