Atlantic County Improvement Authority Projects
The Atlantic County Improvement Authority

Financing

As we look towards the future, the Atlantic County Improvement Authority recognizes that a terrific opportunity exists in the area of financing. Although our activities have been somewhat limited in recent years, we are extremely interested in exploring the potential to facilitate public and private development and redevelopment, assist employers, and help local governments reduce the costs of financing. Programs and services we will continue to explore and can make available include: Public and Private Financing, Tax-Exempt and Taxable Bond Financing, Refinancing, Joint Financing (pooling of funds into one bond issue), Lease Purchasing, Redevelopment Financing and Economic Development Financing.

We currently have a variable rate pooled loan program that is available to our municipalities. The program is highlighted below.

Pooled Loan Program

Since 1987, the Atlantic County Improvement Authority’s Pooled Loan Program has purchased over $141,000,000 of Bond Anticipation Notes from seventeen (17) of the County’s 23 municipalities, two school districts and three authorities.

In 2004, four municipalities chose to utilize the Pool: Egg Harbor Township, Folsom, Mullica, and Weymouth.

The interest rate on Bonds purchased by the Pool varies monthly. In 2004 the minimum rate was 1.16%, the maximum rate was 2.69%, and the average rate was 2.05%.

Pooled Loans – Cumulative By Participant
Amount Participant Amount Participant
$2,774,000 Absecon $2,100,050 Galloway
$25,365,000 Atlantic City $10,511,855 Hammonton
$9,420,000 ACBOE $8,094,200 Linwood
$31,867,000 ACUA – Solid Waste $4,479,665 Longport
$3,315,000 ACUA – Waste Water $2,844,915 Mullica
$2,479,635 Buena $4,501,100 Northfield
$4,585,900 Buena MUA $300,000 Pleasantville
$600,000 Buena Vista Township $2,686,125 Somers Point
$3,676,000 Egg Harbor City $200,000 Somers Point Sewerage
$19,093,686 Egg Harbor Township $350,000 Ventnor
$1,321,500 Folsom $1,060,500 Weymouth
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1333 Atlantic Avenue
Suite 700
Atlantic City, NJ 08401


609-343-2390
609-343-2188 (Fax)