Contact: Missy Rebovich, Director of Government and External Affairs, 609-393-0008 ext. 118
New Jersey Future Statement on New State Transportation Infrastructure Bank
Revolving loan fund could help towns add green infrastructure to transportation projects
TRENTON, June 8, 2018 — New Jersey Future welcomes the establishment of the state’s Transportation Infrastructure Bank, a new source for low-cost financing for local transportation projects.
“The availability of low-interest loans will make large-scale innovative local capital projects viable,” said New Jersey Future Executive Director Peter Kasabach. “We particularly encourage municipalities to take advantage of this funding to incorporate green infrastructure into transportation projects, as a proven way to reduce roadway flooding, calm traffic, beautify neighborhoods, create local jobs, and foster healthier, more resilient communities.
“The Transportation Infrastructure Bank’s sister organization, the New Jersey Environmental Infrastructure Trust, has shown this model of low-cost revolving loans to be an extremely effective way for municipalities and authorities to fund capital projects that upgrade and modernize water systems,” Kasabach continued. We look forward to similar successes from the Transportation Infrastructure Bank.”
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About New Jersey Future
Founded in 1987, New Jersey Future is a nonprofit, nonpartisan organization that promotes sensible growth, redevelopment and infrastructure investments to foster vibrant cities and towns, protect natural lands and waterways, enhance transportation choices, provide access to safe, affordable and aging-friendly neighborhoods and fuel a strong economy. The organization does this through original research, innovative policy development, coalition-building, advocacy, and hands-on technical assistance. New Jersey Future serves as the backbone staff for the Jersey Water Works collaborative.
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