New Jersey Infrastructure Bank Minutes Of The Board Of Trustees Meeting
The Board meeting covered various financial and operational matters, including the status of transportation and water bank project pipelines and construction loan programs. Key actions included the authorization of amendments to select a banking facility provider, approval of a commercial paper financing program and agreement with Morgan Stanley, and the awarding of a web accessibility and ADA compliance services contract. Additionally, the Board authorized a lease extension for current office space and approved short-term construction loans for the Bergen County Utilities Authority and the City of Camden. The meeting concluded with recognition of a departing Board member's service.
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New Jersey Infrastructure Bank Board Of Trustees Meeting Minutes
The Board discussed and approved several key items, including the receipt of the Executive Director's report regarding the terms of Transportation Bank direct loans for Bayonne and Princeton. The Board formally approved the amendment and restatement of the I-Bank's Credit Policy, which establishes additional underwriting requirements for project sponsors seeking conduit loan financing for redevelopment projects. Furthermore, the Board authorized an increase in the capital spend authorization for office space improvements.
Jun 11, 2026·Board meeting
New Jersey Infrastructure Bank Board Of Trustees Meeting
The board reviewed updates regarding the Transportation Bank and Water Bank project pipelines, including the status of contract authorizations and loan disbursements for construction financing programs. Key resolutions passed included the establishment of SFY2027 interest rates for Water and Transportation Bank construction financing, the selection of Morgan Stanley & Co. LLC as the banking facility provider for an extendable commercial paper program, and the award of a three-year contract to MGT Impact Solutions, LLC for information technology managed security services. Additionally, the board approved a short-term construction loan for a lead service replacement project in Wildwood City.
Apr 9, 2026·Board meeting
New Jersey Infrastructure Bank Board of Trustees Meeting
The Board of Trustees meeting focused on the approval of several key financial plans and resolutions for the upcoming state fiscal year. The Board approved the SFY2027 Operating Budget, the SFY2027 Water Bank Financial Plan, the SFY2027 Transportation Bank Financial Plan, and the SFY2027 NJ CHAMP Program Financial Plan. Additionally, the Board authorized the execution of a second amended continuing disclosure agreement with the Jersey City Municipal Utilities Authority, approved the certification and long-term financing for various Transportation Bank projects, awarded a consulting engineering contract for the Water Bank, and authorized a lease extension for office space. The Executive Director also provided updates on infrastructure project pipelines and noted the postponement of bond refunding due to market interest rate fluctuations.
