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NJ Transportation Infrastructure Bank opens

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The New Jersey Transportation Infrastructure Bank opened Friday, offering low-interest loans to municipalities and counties to reduce the cost of local transportation projects.

The NJTIB is a partnership between the New Jersey Department of Transportation and the New Jersey Infrastructure Bank.

The NJDOT’s Local Aid Infrastructure Fund provided the NJTIB with $22.6 million generated from the gas tax increase. Interest rates in fiscal year 2019 are anticipated to be between 1.5 percent and 1.75 percent for terms of up to 31 years.

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David Hutter

David Hutter


David Hutter grew up in Darien, Conn., and covers higher education, transportation and manufacturing for NJBIZ. He can be reached at dhutter@njbiz.com.

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