New Jersey Environmental Infrastructure Trust

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Amy Ward
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1 New Jersey Environmental Infrastructure Trust

2 NJEIT Project Funding Tutorial Webinar Agenda 1. Introduction 2. Overview of Suite of Financing Offerings (aka: H 2 loans) Long-Term Funding Options: (i) Base Program (Traditional, Supplemental, NANO); (ii) Sandy SRF; (iii) NJEIT-only Borrower Qualifications Project Qualifications Short-Term Funding Options: (i) Interim Financing Program (IFP); (ii) Emergency (non-disaster); (iii) SAIL (Disaster Relief); (iv) Planning & Design Borrower Qualifications Project Qualification 3. Program Source Indicator (PSI - Ψ) Questionnaire - [Questions] 4. Process Reviews for: Funding application; Qualification; Requisition, Repayment [Wrap-up Questions] 2

3 H 2 loans: NJEIT s Suite of Available Financing Programs Long-Term: Base Loan Program: Traditional Loan Program (SFY2014, SFY2015) - Low interest loans comprised of Clean Water (CW) or Drinking Water (DW) State Revolving Funds (SRF) and NJEIT Bond Proceeds Supplemental Loan Program - Low interest loans available for funding shortfalls and cost overruns (prioritized) NANO Loan Program - 50% PF Loan Program for small Drinking Water Systems w/ subsidized fees Sandy SRF Loan Program: CW and DW Loan Program Low interest loans comprised of P.L SRF appropriations specific to NJ and NY for systems affected by Superstorm Sandy and NJEIT Bond Proceeds for flood mitigation or resiliency projects NJEIT only Loan Program Long-term loans at AAA market rate Short-Term: Interim Finance Program: 0% to 2% interest rate short-term funds available to the end of any fiscal year ( termedout in May) SAIL Program: Subsidized bridge loans backed by 0% State SRF funds and NJEIT Bank-Line-of-Credit, available for three (3) full fiscal years with subsidized fees Planning & Design: 0% interest rate short-term funds available to the end of any fiscal year for 50% of eligible Engineering & Design costs 3

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5 H 2 loans: Base Financing Program 5

6 Closed to new Borrowers Submitted Applications are currently under credit and engineering reviews (NJEIT & NJDEP respectively) Loan Structure H 2 loans: Base SFY2014 Financing Program Long Term: 75% Fund Loan (0% interest rate DEP Loan) and 25% Trust Loan (AAA market rate loan) Principal Forgiveness / Set-aside Programs CW - $10MM PFL for CSOs (50% PFL; 25% DEP at 0% loan; 25% NJEIT at Mkt-rate loan structure) CW - $10MM PFL for Barnegat Bay projects (50%; 25%; 25% loan structure) DW - $2MM PFL for highest priority ranked DW projects (20%; 40%; 40% loan structure) DW - $2MM NANO PFL for small Drinking water systems (50%; 25%; 25% loan structure) Short Term: Interim Financing Program 0% interest loan for Local Gov t Units and Small Water systems, 2% interest loan for all other Private Borrowers 6

7 H 2 loans: Base SFY2015 Financing Program Letters of Intent / Environmental Planning Documents due October 7, 2013 Available to environmental infrastructure projects that improve water quality and protect public health. Priority is given to projects which fund the continued repair of Sandy damaged infrastructure and improve resiliency in future disasters Loan Structure Long Term: 75% Fund Loan (0% Rate DEP Loan) and 25% Trust Loan (AAA Market - Rate loan) Principal Forgiveness Programs up to 25% of Loan Short Term: Trust Loan at subsidized rate (Line-of-Credit) or, if funds are available, 75% Fund Loan (0% Rate DEP Loan) and 25% Trust Loan at subsidized rate Borrowers CW Publicly owned facilities DW Publicly owned facilities and Private system purveyors with a PWSID 7

8 H 2 loans: Sandy-SRF Financing Program 8

9 Letters of Intent / Environmental Planning Documents due October 7, 2013 Available to projects that improve the resiliency against flooding or rapid hydraulic movement of environmental infrastructure facilities affected by Sandy in future natural disasters (n.b. projects which do not make the funding cutoff for this program will be considered for the Base SFY2015 Program) Loan Structure Long Term: 18+% Principal Forgiveness, 56+% Fund Loan (0% Rate DEP Loan) and 25% Trust Loan (AAA Market - Rate loan) Short Term (Construction Period up to 3 full fiscal years): SAIL Bridge Loan Trust Loan at subsidized rate (Line-of-Credit) or, if funds are available, 75% Fund Loan (0% Rate DEP Loan) and 25% Trust Loan at subsidized rate Borrowers CW Publicly owned facilities DW Publicly owned facilities H 2 loans: Sandy-SRF Financing Program 9

10 H 2 loans: CDBG-DR Financing Program (maybe) 10

11 H 2 loans: CDBG-DR Reimbursement Grant Program (maybe) Letters of Intent / Environmental Planning documents due October 7, 2013 Available to projects as part of: 10% Local FEMA-406 Match Specific projects as identified by the State / DEP Development of Asset Management Plans Loan Structure Short Term (Construction Period up to 3 full fiscal years): Trust Loan at subsidized rate (Line-of-Credit) Borrowers CW Publicly owned facilities DW Publicly owned facilities 11

12 H 2 loans: FEMA 406 Reimbursement Grant Program 12

13 H 2 loans: FEMA-406 Reimbursement Grant Program Letters of Intent / Environmental Planning documents due October 7, 2013 Available to projects with approved / obligated FEMA-406 Project Worksheets (PW) that repair Sandy damaged infrastructure and improve the resiliency of Clean Water and Drinking Water Systems Loan Structure Short Term (Construction Period up to 3 full fiscal years): Trust Loan at subsidized rate (Line-of-Credit) Borrowers CW Publicly owned facilities DW Publicly owned facilities 13

14 H 2 loans: Process Review Letters of Intent SRF SAIL Hybrid Env. Planning Doc X X NEPA Review X Application SRF SAIL Hybrid Full Application X X Abbrev. Application X Permitting X X X Cross Cutters X X X Project Worksheet X X FEMA MOU X X Engineering X X X Permits X X X 14

15 H 2 loans: Process Review Certification SRF SAIL Hybrid Auth. To Award X X X Credit Worthiness X X X Proj. Worksheet (oblig.) X X FEMA MOU X X NJEIT MOU X X SAIL Certification X X SRF Certification X X 15

16 H 2 loans: Process Review Requisitions: (All Programs) Approval of requisitions and backup invoices Repayments: Long-Term Loans: Semi Annually Short-Term Loans: Principal: No repay during term Cap I through construction (optional) 16

DWSRF Contacts. Sources of Monies. Purpose. Type of Projects. Eligibility. New Jersey Drinking Water State Revolving Fund Program

DWSRF Contacts. Sources of Monies. Purpose. Type of Projects. Eligibility. New Jersey Drinking Water State Revolving Fund Program New Jersey Drinking Water State Revolving Fund Program DWSRF Contacts Lorraine Salamanca Lorraine.Salamanca@dep.nj.gov Alan Dillon Alan.Dillon@dep.nj.gov Department of Environmental Protection Division