The Environmental Infrastructure Financing Program provides low-interest loans for water quality management projects. Projects eligible for funding include all areas of wastewater treatment and collection, stormwater/nonpoint source pollution management projects including equipment purchases and land acquisition for water quality protection, and drinking water projects that are needed to comply with safe drinking water standards.

A partnership between the DEP and the New Jersey Environmental Infrastructure Trust, the Financing Program offers the lowest possible rates on loans for infrastructure projects. By combining interest-free loans from DEP's State Revolving Funds with market rate loans from the sale of Trust bonds, the participants in the Financing Program borrow money at half the rate the Trust pays on its AAA-rated bonds. Since 1987, the Financing Program has put over $1.7 billion to work removing pollutants from the state's waterways and protecting water supplies, saving borrowers over $550 million in the process.

In order to qualify for a loan from the Financing Program in FFY2002, project sponsors must comply with the schedule below:

Borrowers who obtain all necessary permits and approvals can receive pre-award approval to commence construction prior to loan closing. Construction costs incurred after pre-award approval and prior to loan closing will be reimbursed at loan closing.

The EIFP encourages borrowers to attend a pre-planning meeting prior to the October submission of a commitment letter. Pre-planning meetings afford the opportunity for borrowers to discuss their project with program staff. This will enable staff to provide the applicant with a clear 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.