$650 million for water projects in N.J.

New Jersey Governor Chris Christie has signed legislation providing $650 million in no-cost and low-cost loans for projects designed to improve water quality throughout the state. The financing, which will be administered as a revolving loan program through the New Jersey Environmental Infrastructure (EIT) Financing Program, will be split into $400 million for clean-water projects and $250 million for drinking-water projects. The bills signed by Gov. Christie include funding for the repair of many stormwater systems in New Jersey. Cities, counties, water authorities, utilities, and private associations in New Jersey have filed more than 170 applications seeking funding for various clean-water and drinking-water projects. The federal government will finance at least half the cost of the loans.