NJ Green Acres Grants and Loans
The Green Acres program provides grants and low interest loans to qualifying county and municipal government agencies and nonprofit land conservancies who work to protect environmentally sensitive open space, water resources and other significant natural and historic resources in New Jersey. Green Acres provides funding for land preservation and park development, historic preservation, and the New Jersey Environmental Infrastructure Financing Program (EIFP). NJ DEP encourages municipal and county government applicants who have a project with a water quality benefit to apply to the EIFP for acquisition funds. The EIFP is a partnership between the DEP and the NJ Environmental Infrastructure Trust. The EIFP provides low-cost financing to municipal, county, and other local government units as well as to water purveyors for the construction of wastewater, drinking water and stormwater or nonpoint source pollution management projects, including open space acquisition that provides a water quality benefit. Financing through EIFP provides a rate equal to one-quarter of the current market rate and results in a loan structure that reduces annual debt service significantly when compared to local financing options. The EIFP has no limit on the amount of money that a borrower can finance to acquire land and the funds can be used as a local match for land acquisition projects funded through Green Acres. Projects are approved twice a year, in April and October. The deadline for the October round of funding is August 15th. For more information, visit http://www.state.nj.us/dep/greenacres/. Green Acres program workshops are being held in the coming months (see events section).