Gov. James Florio (right) and Passaic County Freeholder Bruce James (left) present the Green Building Design Award to Passaic County Improvement Authority Chairman Dennis Marco.

Passaic County, NJ – July 7, 2014 – The Passaic County Improvement Authority (PCIA) was awarded at the Passaic County Greening your Company in 2014 Seminar for its new and improved Passaic County Banc Program.  The award was presented by Governor James Florio and Freeholder Bruce James to Passaic County Improvement Authority Chairman Dennis Marco.

The Passaic County Banc Program, backed by the Guarantee of the County, is a lease purchase program designed to save tax dollars. It is an alternative method of funding capital equipment that is usually financed at taxable rates or funded entirely through a town or school district budget.  Last year the Passaic County Improvement Authority along with the Passaic County Freeholder Board unveiled the enhanced Banc program to include the financing of Energy Savings Improvement Projects (ESIP).

“Our Banc Program is another tool established to offer financial assistance to local governments and school boards.  The program offers convenience and cost savings by providing an alternative means of funding for capital equipment.  The cost savings are ultimately passed along to local taxpayers,” said Freeholder Bruce James, Chair of the Finance & Administration Committee.