11/13/2024 | Press release | Distributed by Public on 11/12/2024 18:14
NJ I-Bank and NJDEP Helping to Improve New Jersey's Infrastructure, One Project at a Time
The Passaic Valley Sewerage Commission ("PVSC") recently completed improvements that are being financed with approximately $6 million in loans from the NJ Water Bank, a low-rate funding program jointly administered by the DEP and the New Jersey Infrastructure Bank ("I-Bank"). Total savings for this project are estimated to be $683,667 over the 20-year term of the loan or 11% of the project cost, in comparison to PVSC financing the project on its own. This project also created an estimated 71 direct construction jobs.
This project financed the rehabilitation of two of PVSC's sludge storage tanks. PVSC uses its sludge storage tanks to accept municipal waste by barge and ship for treatment. The tanks needed repairs and improvements to maintain their integrity and operate properly. A force main interconnection was designed between the Old Sludge Pump Station and the S. Kearny force main to discharge to the primary clarifier influent channel. The work included removing lead paint from the outside of the tanks and recoating and repairing them inside and out. New piping was installed with valving or pumping to provide additional connections and process flexibility. Additional pump and well improvements were performed as well as structural repairs.
Jimmy Davis, Mayor of the City of Bayonne, one of the Commission's major customers, observed that "This tank-cleaning project is important, because it will extend the useful life of the facilities and ensure their future ability to receive the sludge for treatment. It's the kind of infrastructure that we take for granted and don't usually think about. The PVSC's goal is maintaining safe and efficient operations. By financing the project through the Water Bank at low rates, they pass the savings on to our rate payers."
This project was designed by PVSC In-house engineers with consulting from HDR Inc. and constructed by Spectraserv, Inc.
For more information, contact the New Jersey Infrastructure Bank at (609) 219-8600.