NJTIB May 21st, 2024

SEASIDE PARK BOARDWALK REPLACEMENT FINANCED BY THE NJ I-BANK

The Borough of Seaside Park finances the replacement of its boardwalk through the NJ Transportation Bank, a low-rate funding program administered jointly by the DOT and the NJ I-Bank.

NJ I-Bank and NJDOT Helping to Improve New Jersey's Infrastructure, One Project at a Time

Seaside Heights Borough was approved for more than $12 million in funds from the NJ Transportation Bank to replace its boardwalk over the course of five years. "It's something like a home equity line of credit, "explained David Zimmer, Executive Director of the I-Bank. "You don't pay interest on any funds that you don't spend." The flexibility in timing will allow the borough to replace the boardwalk over time without closing down during peak season. Read more: Seaside Park Boardwalk Replacement Financing Approved; May be Completed in Phases – Lavallette-Seaside Shorebeat

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