(4th LEGISLATIVE DISTRICT) — Legislation Assemblyman Paul D. Moriarty sponsored to help finance approximately $650 million in clean water environmental infrastructure projects across the state was signed into law Thursday.
The new law (formerly A-4055) includes tens of millions of dollars in funding for projects throughout the 4th Legislative District.
“Improving our infrastructure to ensure that every resident in the state has access to clean, safe drinking water should be a priority in any economy,” said Moriarty (D-Camden/Gloucester). “In our current economic climate, projects like these have the added benefit of putting people back to work in addition to providing potable water.”
The law provides funding for the New Jersey Environmental Infrastructure Financing Program, which in turn helps to reduce the per-project financing cost of water cleansing and purification projects throughout the state by up to 30 percent.
Since its inception 24 years ago, the program has financed 931 projects totaling over $5.6 billion throughout New Jersey, while saving borrowers approximately $1.9 billion, generating construction jobs and stimulating significant improvements to the state’s clean water and drinking water infrastructure.
Projects benefiting the 4th District this year include:
- $240,000 for the Gloucester County Utilities Authority to improve clean water infrastructure;
- More than $40 million for the Camden County Municipal Utilities Authority for projects falling under the State Fiscal Year 2012 Clean Water Project Priority List; and
- Over $1.7 million for Gloucester Township for projects falling under the State Fiscal year 2012 Clean Water Project Priority List.