CAPITAL EQUIPMENT & IMPROVEMENT FINANCING PROGRAM
Due to changes in the CAP law and new policies issued by the New Jersey Division of Local Government services, the MCIA's annual Capital Equipment Lease Program became the Capital Equipment Financing Program in 2008. Equipment and capital improvements are now included under the program. Most items financed continue to be outside the CAP and there is no required down payment. The usual efficiencies of scale and cost savings were realized through this newly-constructed financing program and the 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016 series have produced the same benefits.
CAPITAL EQUIPMENT LEASE PROGRAM FOR MUNICIPALITIES, 1992-2007
The MCIA offers pooled equipment financings to interested municipal governments and Middlesex County agencies.
Since its inception in 1992, the program has saved local governments more than $3 million in equipment purchases and debt service. This pooled financing program helped participants obtain equipment that they otherwise might have been unable to afford.Participants in these annual pooled financings, from 1992 to 2007, include Middlesex County as well as the municipalities of Carteret, Cranbury, Dunellen, Edison, Highland Park, Metuchen, Milltown, Monroe, North Brunswick, Old Bridge, Perth Amboy, Sayreville, South Amboy, South Brunswick, South Plainfield, South River and Spotswood.