The Partnership: The New Jersey Water Bank

 

The New Jersey Water Bank (NJWB) is a partnership between the New Jersey Department of Environmental Protection (NJDEP) and the New Jersey Infrastructure Bank (I-Bank), 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.

The NJWB implements the Water Infrastructure Investment Plan (WIIP) 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) 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).

WIIP Sessions 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 programs for water systems, and gather input on priorities, funding packages, and project types.