New Jersey Infrastructure Bank
08/17/2022 | Press release | Distributed by Public on 08/16/2022 18:22
WEST DEPTFORD TOWNSHIP PUMP STATION REPLACEMENTS
August 17th, 2022
WEST DEPTFORD TOWNSHIP PUMP STATION REPLACEMENTS
NJ I-Bank Project of the Week: West Deptford Township Pump Station Replacements. Municipality receives $1,218,764 in Water Bank loans. Estimated savings to ratepayers of $268,814.
NJ I-Bank and NJDEP Helping to Improve New Jersey's Environmental Infrastructure, One Project at a Time
West Deptford Township recently completed clean water improvements that are being financed with approximately $1.2 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Total savings for this project is estimated to be $268,814 over the 30-year term of the loan or 24% of the total project cost. In addition, this project created an estimated 14 direct construction jobs.
The project consisted of the replacement of two pump stations: Pump Stations #4 (known as Red Bank) and #6 (known as Queen Street). The new systems will have emergency generators to ensure continual operation during power outages.
James P. Mehaffey, Mayor of West Deptford Township, noted the importance of the project: "Replacing these two 40 to 50-year-old pump stations will limit possible future failures and prevent discharge to groundwater. This project is a salient example of our dedication to improve health conditions for our community, improve groundwater quality and overall quality of life. We strategically borrowed from the Water Bank to finance this project and save our ratepayers money over time."
This project was designed by T&M Associates and constructed by Level-1 Construction, Inc.
For more information, contact the New Jersey Infrastructure Bank at (609) 219-8600.