Christie Signs Measures to Fund $650 Million of New Jersey Water Projects
New Jersey Governor Chris Christie signed bills to lend towns $650 million for water projects.
The loans will be interest-free or carry low rates and will be financed through the state’s Environmental Infrastructure Trust, which will issue bonds to cover the cost, said Christie, a first-term Republican. He said $400 million will go to clean- water projects and $250 million will protect drinking water.
The measures include $16 million for projects aimed at improving conditions in Barnegat Bay on New Jersey’s coast, the governor said.
“We have to invest in these projects if we’re going to make New Jersey in the future a leader in economic development and environmental development,” Christie said today as he signed the bill in Barnegat, north of Atlantic City. “The Jersey Shore and Barnegat Bay are huge economic drivers in this state, and they won’t continue to be if they aren’t protected.”
To contact the reporter on this story: Terrence Dopp in Trenton at tdopp@bloomberg.net
To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net.
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