The EIFP (Environmental Infrastructure Financing Program) is a partnership between the New Jersey Department of Environmental Protection and the New Jersey Environmental Infrastructure Trust, providing low-interest loans for environmental infrastructure projects. Since 1988 the clean water and drinking water components of the EIFP have awarded more than $5.7 billion in loans throughout the State. Recently, 952 of the 1179 funded projects totaling more than $4.6 billion in construction costs have been completed, have initiated operations, and have been administratively closed out; 227 projects totaling slightly more than $1.1 billion in project costs are actively contracting or under construction.
Assistance recipients must certify that it has studied cost-effectiveness, and has selected a project with the greatest potential for water reuse, water conservation, and energy conservation. The Department reserved 50% of the available principal forgiveness funds and provide principal forgiveness loans for Combined Sewer Overflow (CSO) abatement projects utilizing green practices (such as green roofs, blue roofs, rain gardens, porous pavement, and other activities that maintain and restore natural hydrology by infiltrating, and harvesting and using stormwater) and for integrated water resources planning. For all new projects, the Financing Package includes an interest-free loan from the Department for up to 75% of the allowable project costs and a market-rate loan from the Trust for the remaining allowable costs.
Atlantic City, Perma-liner Industries has some exciting information that must be shared now as time is of the essence! It’s the Section 179 Deduction. This allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. Give us a call so we can offer you our very best products and services now. 1-866-336-2568/ www.perma-liner.com.
