The DEP has established the 2003 Financing Program deadlines. The Financing Program is a partnership between the DEP and the New Jersey Environmental Infrastructure Trust (the Trust) that finances a wide variety of clean water, drinking water and open space land acquisition projects. The DEP provides loans at 0% interest for approximately 20 years for one half of the allowable project costs. The Trust offers loans at the prevailing market rate for the remaining allowable project costs, also for a 20-year term. Between these two funding sources, the rate on loans is typically half of the market rate. In 2001, the Program's interest rate was 2.2% for public borrowers.

The Financing Program encourages borrowers to attend a pre-planning meeting prior to the October submission of a commitment letter and planning documents. Pre-planning meetings are an opportunity for borrowers to discuss their project with program staff and gain a better understanding of program requirements.

For more information on the New Jersey Environmental Infrastructure Financing Program, please contact Nicholas G. Binder, P.E., P.P., Assistant Director of the Municipal Finance and Construction Element at (609) 292-8961 or by e-mail at Nicholas.Binder@dep.state.nj.us.