A $6 Billion Water Problem Gets $588 Million Help
Updated: Aug 6, 2022
May 23, 2022 | njspotlightnews.org
New Jersey’s efforts to upgrade its creaking water infrastructure took a step forward on Friday with the announcement that low- or no-interest loans worth $588 million are being made available to towns, counties and utilities.
The new money, from state and federal sources, will help reduce what is an estimated $6 billion funding shortfall for water infrastructure renewal over the next five years, according to the Department of Environmental Protection.
NJ SEED: Nearly $600 million is welcome but a long way from the total cost of $26 billion or more needed to replace the state’s aging water infrastructure. An additional $1.2 billion may be realized from funds remaining in NJ’s portion of the American Rescue Act. That, too, would be welcome assistance, but altogether it would still be only a “drop in the Bucket”.