HOPATCONG BOROUGH LOAN CLOSING

The Borough of Hopatcong recently closed on a construction loan with the NJ Water Bank to fund an Asset Management Program. The project consists of the preparation of a Sanitary Sewer System Asset Management Plan and an update to their Geographic Information System. This project qualifies for funding under the Asset Management for Small Systems Program (SS-AMP). Hopatcong Borough is eligible to receive principal forgiveness for this project at Long Term funding subject to legislative approval. Standard SS-AMP funding terms provide 100% principal forgiveness capped at $100,000 per applicant.