|
AEA Service Award
The New Jersey
Environmental Infrastructure Trust
In the fall
of 2006, The New Jersey Environmental Infrastructure Trust
marked 20 years of improving the state’s environment,
infrastructure and economy. To date, the Trust has issued
more than $1.8 billion in AAA-rated bonds to fund its part
of the Environmental Infrastructure Program. Despite the
program’s success, NJ still has more than $15 billion in
clean water and drinking water infrastructure needs. As
the Trust enters its 21st year, it is committed
to meeting the state’s infrastructure needs and is
continuously seeking new opportunities to help finance
NJ’s future. Robert A. Briant, Sr. currently serves as
chairman and Dennis Hart is the executive director.
New Jersey enjoys a
national reputation as a leader in innovative and
effective environmental protection strategies. The New
Jersey Environmental Infrastructure Trust and its
Environmental Infrastructure Financing Program have helped
earn this reputation.
Since its creation in 1986,
as the first program of its kind in the country, the Trust
has played a major role in helping New Jersey meet one of
our most fundamental environmental priorities -
maintaining and improving the quality of our water
resources. AEA presented this award to then NJDEP
Commissioner Robert Hughey for establishing the Trust. Now
20 years later, we celebrate the success of the Trust by
presenting the AEA Service Award for its ongoing support
and leadership.
|
Controlling pollution and
providing safe, abundant drinking water requires heavy
capital investment. Environmental infrastructure is costly
to build and that expense is ultimately born by the
individual ratepayer and taxpayer. Keeping costs to the
public as low as possible has been the role of the Trust
since its inception.
Working in partnership with
the NJ Department of Environmental Protection, the Trust
has devised a system to leverage the funds available from
the federal government to make more money available at the
lowest possible cost. Since 1985, the Financing Program
has provided nearly $4 billion to local and county
government units and some private water companies to
finance wastewater systems, combined sewer overflow
abatement, nonpoint source pollution control, safe
drinking water supplies and open space acquisition.
The Financing Program's
loans, which are 75 and 50 percent below market rates,
provide substantial cost savings to municipalities and
utility and sewerage authorities. To date, these loans
have saved New Jersey taxpayers and ratepayers more than
$1.2 billion in financing costs.
Special thanks and appreciation to the Trust for twenty
years of service to
AEA members and to the citizens of New Jersey.
|
