TRENTON — Gov. Chris Christie today signed three bills today that allows the state to make interest-free loans to local governments for "clean water" projects. Christie, speaking at the Musconetcong Sewerage Authority in the Budd Lake section of Mount Olive, said the bills would help the economy and the environment at the same time. "One of the goals of...
Governor Chris Christie, shown last week, today signed a bill that allows the state to make interest-free loans to local governments for clean water projects.TRENTON — Gov. Chris Christie today signed three bills today that allows the state to make interest-free loans to local governments for "clean water" projects.
Christie, speaking at the Musconetcong Sewerage Authority in the Budd Lake section of Mount Olive, said the bills would help the economy and the environment at the same time.
"One of the goals of this administration has been to debunk the myth that you cannot have a growing, vital economy while protecting the environment," he said. "These bills prove that there are ways to be able to do that."
The state will help local governments and private companies by issuing at or below-market-rate loans on 181 projects that are on a state priority lists for clean water and drinking water projects, totaling $821 million.
The main bill (A2928) also provides $40 million in grants.
The money is provided through federal grants and a number of state funds.
A companion bill (A2929) would raise the maximum amount the New Jersey Environmental Infrastructure Trust could borrow from $2.7 billion to $2.8 billion.
Sierrra Club New Jersey Director Jeff Tittel said the loans are a mixed bag. Not enough money is appropriated for the most needy areas with the most outdated infrastructure, he said.
“Some of the money goes to good things, some of it goes to pork stuff. We’ve been trying to get the things fixed so it’s prioritized better to take care of some of the cities and the older areas,” he said.
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