March 29, 2012 Water Resources: Utilizing Technology, Partnerships and Nature Michele N. Siekerka, Esq. Assistant Commissioner Water Resource Management New Jersey Department of Environmental Protection
What is Green Infrastructure? Utilizing soil and vegetation to manage rainwater where it falls Infiltration Vegetative uptake Storage
Sustainable ROI Environmental: can both manage stormwater volume and treat runoff for a variety of pollutants Social : aesthetically pleasing and community building Economic: Can reduce the capital costs and O & M costs of gray technology; short term quicker impact
Strategic Integrated Approach to Water Quality Leveraging Funding NJDEP State Revolving Loan Fund Federal pass through money; principal forgiveness NJ Environmental Infrastructure Trust New Jersey’s Independent Financing Authority responsible for funding Environmental Infrastructure projects that protect the State’s natural resources and public health ______________________ Policy Driving Action
2 Main Qualification Categories : 1. Clean Water Point Source Clean Water Projects (WTF, CSO, Sludge, etc.) Non-Point Clean Water Projects (Storm water, Equip, Remediation) 2. Drinking Water Safe Drinking Water Projects (Treatment, Distribution) Program Qualification - Water Quality Component
Examples of EIT Eligible “Green Projects” Energy Production -must be connected directly to a CW/DW activity Power Wind Solar Geothermal Power Micro-Hydroelectric Biogas and CHP Systems Rain / Stormwater Permeable Pavement Bioretention Green Roofs Grey Water Use Xeriscape Constructed Wetlands Stormwater Harvesting Stormwater Reuse Projects Establishment or Restoration of: Riparian buffers Floodplains Wetlands and other Natural Features Installing Water Efficient Devices Installing Water Meters in Previously Unmetered Areas Retrofitting / Adding Leak Detection Equipment Recycling and Water Reuse Projects as related to replacing potable sources with non-potable sources. Retrofit or replace landscape irrigation systems.
Why Borrow Through NJEIT? AAA / Aaa Loan Rate Comparisons Low “net” rate = blend of DEP 0% rate and AAA “market” rate 20 yr. savings on $1mm Borrowed: ~ $120,000 / each 1% saved
Additional Benefits… Lower all-in financing costs Economies of scale in co-mingled pool. Borrowers pay proportionate share of issuance fees (rating agency, underwriter, trustee, etc.). Equates to lower cost/borrower Capitalized interest / Deferred Payments Borrowers may capitalize Interest and defer repayment of Principal costs during construction… until completion of the project, up to six months after construction ( not to exceed 3 years from the loan) Interim financing 0% financing is available to municipal borrowers (2% to Private Entities / Utilities) prior to long-term loan funding, providing timing flexibility for shovel-ready projects … And MUCH more …
Resources USEPA Green Infrastructure web page Implementing Watershed-Based Green Infrastructure for Stormwater Management: Case Study in Blacksburg, Virginia NYC Green Infrastructure Plan, A sustainable Strategy for Clean Waterways sustainable-strategy-for-clean-waterways Rooftops to Rivers, Green Strategies for Controlling Stormwater and Combined Sewer Overflows The Value of Green Infrastructure for Urban Climate Adaptation adaptation A Triple Bottom Line Assessment of Traditional and Green Infrastructure Options for Controlling CSO Events in Philadelphia's Watersheds
Contact Information Michele N. Siekerka, Esq. Asst. Comm Adriana Caldarelli Sandy Blick