NEW JERSEY RESILIENCY BANK

"The NJ Infrastructure Bank, together with the NJ Office of Emergency Management, developed a process for providing hundreds of millions of dollars in financial aid in advance of FEMA grant funds to local communities for resilience projects as a result of Superstorm Sandy. This partnership, co-administered with NJDEP, has evolved over the past 10 years into a seamless process which will be replicated for the new CHAMP Program. The I-Bank and OEM are excited about the opportunity to build out the Resilience Infrastructure Bank’s CHAMP Program and expand resilience funding to communities for pre-disaster projects."

"If the Resilience Infrastructure Bank functions anything like the I-Bank’s SAIL Disaster Financing Program for post-disaster projects, it will be a home run for communities in need of these funds. When SMRSA took advantage of the SAIL disaster financing program, working with the I-Bank and OEM, the entire process was fast and efficient. The Program ensured that the funds promised us by FEMA were received in less than 2 months, and then provided low-cost loans for our match dollars that remained. It was a terrific experience and I expect the RIB’s CHAMP Program to be equally valuable."