Legislation that would fund a pair of dam restoration projects was signed into law Monday by Gov. Jon Corzine.
Under the law, $7 million will be appropriated from the state Dam Restoration and Clean Water Trust Fund to restore the Lake Solitude Dam in High Bridge, Hunterdon County and the Point View Reservoir Dam in Passaic County.
“This legislation will allow us to fund the restoration of two important dams without placing a greater burden on taxpayers,” said Sen. Marcia Karrow (R-Hunterdon), a prime sponsor. “Every penny will come from loan repayments of expenses for previous projects funded through the Trust Fund.”
The dam restoration fund was created as part of the Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992. The fund was appropriated $15 million in bond revenues for dam restoration projects. Appropriations from the fund in 1997 provided $14,778,000 of the $15 million available to loans for 14 dam projects. The $7 million appropriated through the bill signed by the governor comes from repayments made on the loans that were awarded to the previous projects.
“Our dam restoration program demonstrates how a responsible loan program can use limited funds to finance a long-term series of projects,” Karrow said.
According to Preservation New Jersey, Lake Solitude Dam is one of the 10 most endangered historic sites in New Jersey. The dam, built in 1909 is the last known remaining example of an I-beam dam in the state. The dam project will receive $5.6 million under the legislation.
The Point View Reservoir is the largest of the Passaic Valley Water Commission’s four reservoirs, and contains 1 billion gallons of drinking water. Under the legislation, $1.3 million will be appropriated.