Residents throughout Middlesex County Will Reap Benefits From the Funding
TRENTON – A bill sponsored by Senator Joseph F. Vitale was signed into law last week to help local communities throughout the state finance infrastructure projects to improve water quality and deliver safer drinking water to residents. The funding, which will also benefit communities throughout Middlesex County, is provided through New Jersey’s Environmental Infrastructure Financing Program, now in its 22nd year.
“The Environmental Infrastructure program has long been a win-win for our residents,” said Sen. Vitale (D-Middlesex). “By providing low interest loans to our communities, taxpayer money is saved, and the end result is safer and cleaner water for New Jersey’s families. I’m pleased that we’ll be able to provide a healthier way of life for residents throughout the 19th district through this funding.”
This year, the Environmental Infrastructure Financing Program is expected to provide approximately $800 million in low and no interest loans, helping communities save on average between 25-30 percent on project costs. From its inception, the program has saved borrowers approximately $1.9 billion and stimulated significant improvements to the state’s clean water and drinking water infrastructure. The program is supported by a combination of both state and federal funding, including funds from the American Recovery and Reinvestment Act.
Sen. Vitale announced that numerous recipients in the19th legislative district will benefit from this funding, including the Middlesex County Utility Authority, which is slated to receive more than $77 million in financing to help improve the quality of life for the 750,000 Central Jersey residents it serves. Individual towns within the 19th district that are expected to receive funding include:
Carteret $2.88 million
Perth Amboy Redevelopment Agency $10.637 million
Sayreville $25.222 million
Woodbridge Township $2.551 million