Bond Counsel Services

It is the Authority’s intention to issue all financing (interim and/or permanent) for the projects described above through negotiated sale to the I-Bank and the State. The long-term funds lent from the State are at 0% interest rate while the I-Bank funds lent is at AAA- at a blended rate.

It is the Authority’s intent to begin the process for the financing of two projects through the NJ I-Bank in 2025. Phase 1A of the Solids Handling project is currently within the design stages with 95% of the design complete. The tentative bid schedule is prior to the end of the second quarter of 2025. It is anticipated that short-term financing of the project will be necessary due to the period anticipated for the completion of the project. The Phase 1A project is estimated at $10,000,000. In addition, it is the Authority’s intention to seek financing from the I-Bank for the Aeration Basin Conversion Project. The specifications for this project is 80% complete and the staff anticipates the process for financing to begin towards the end of 2025. This project is estimated at $3,500,000. Finally, the Authority will be issuing a bid in 2025 for a Lease Financing Agreement for the purchase of heavy equipment that will total approximately $3,200,000. Staff anticipates that the contract will be awarded during the third quarter of 2025.

The Atlantic County Utilities Authority (ACUA) owns and operates a Solid Waste complex in Egg Harbor Township, Atlantic County, NJ, known as the Howard F. Haneman Environmental Park, and a Wastewater Treatment Facility in Atlantic City, Atlantic County, NJ, known as City Island Treatment Plant.

The Solid Waste facility is home to an active landfill, a recycling center, composting site, and ancillary facilities. Also on site is the ACUA’s primary administration building, constructed in 1992, which features a closed-loop geothermal HVAC system. The site is home to a 5.4 MW landfill methane gas to electricity project which provides 100% of the power needs of the Park. The ACUA’s solid waste complex is located at 6700 Delilah Road, in Egg Harbor Township, New Jersey. The site consists of approximately 360 acres with approximately 102 acres representing the landfill footprint.

The Wastewater Treatment Facility has been in operation since 1978 and services 14 communities in Atlantic County. It is home to the Jersey-Atlantic Wind Farm, a 7.5 MW wind farm that is privately owned and from which the ACUA purchases approximately 12 million kWh per year of electricity. In addition, the facility also houses a 500 kW solar PV system.

The ACUA is responsible to the residents of Atlantic County to be financially prudent and environmentally responsible.

The Wastewater Division’s more recent borrowings have all been with the New Jersey Infrastructure Bank. The ACUA currently has two significant projects within the design phase that will also be financed by way of the New Jersey Infrastructure Bank. The projects are for plant upgrades related to the solids handling infrastructure within the wastewater treatment process. Solids Handling Phase 1A (dewatering process and TAS upgrades) and Solids Handling Phase 1B (conveyance process). It is anticipated that the Phase 1A project will be bid in mid-2025.

The ACUA received a rating AA- from Standard and Poor’s in October of 2022.

The contract term of the awarded contract will be from March 1, 2025, through February 28, 2026. This contract will be a “Not-to-Exceed” contract and will be billed based upon tasks and man hours established in the proposal for the work and/or activities completed.