Item 2. Properties
ITEM 2. PROPERTIES (Continued)
NJNG owns five service centers located in Rockaway Township, Morris County; Atlantic Highlands and Wall Township, Monmouth County; and Lakewood and Stafford Township, Ocean County. These service centers house storerooms, garages, natural gas distribution and administrative offices. NJNG leases a customer service office in Asbury Park, Monmouth County. These customer service offices support customer contact, marketing, economic development and other functions. NJNG also owns its headquarters and customer service facilities in Wall Township and a training facility in Howell Township, Monmouth County, to support the technical training of its employees.
Substantially all of NJNG’s properties not expressly excepted or duly released are subject to the lien of the Mortgage Indenture as security for NJNG’s mortgage bonds, which totaled $1.5B as of September 30, 2023. In addition, under the terms of the Mortgage Indenture, NJNG had capacity to issue up to $1.4B of additional FMBs as of September 30, 2023.
Clean Energy Ventures
As of September 30, 2023, CEV has various solar contracts, including lease agreements and easements, allowing the installation, operation and maintenance of solar equipment and access to the various properties, including commercial and residential rooftops throughout the State of New Jersey. In addition to the lease agreements and easements, CEV owns solar projects with a total of 468.8 MW of capacity in New Jersey, Rhode Island, New York, Connecticut, Michigan and Indiana, 79.5 acres of land in Vineland, Cumberland County, New Jersey, 14.4 acres of land in Upper Deerfield Township, Cumberland County, New Jersey and 101.8 acres of land in Fairfield Township, Cumberland County, New Jersey.
CEV leases office space in Wall Township, New Jersey.
Energy Services
As of September 30, 2023, ES leases office space in Wall Township, New Jersey.
Storage and Transportation
As of September 30, 2023, Adelphia owns approximately 11.1 acres of land in Delaware County, Pennsylvania, 32.71 acres in Bucks County, Pennsylvania, 121.1 acres in Northampton County, Pennsylvania and 44.9 acres in Montgomery County, Pennsylvania and leases office space in Wall Township, New Jersey. Leaf River owns 43.9 acres of land and a 5,000 square foot building in Smith County, Mississippi, 158.5 acres in Jasper County, Mississippi and 3.5 acres in Clarke County, Mississippi and leases office space in Houston, Texas.
All Other Business Operations
As of September 30, 2023, CR&R’s real estate portfolio consists of 23.1 acres of undeveloped land in Atlantic County, New Jersey. NJRHS leases service centers in Dover, New Jersey and Wall Township, New Jersey. NJR Service Corporation leases office space in Red Bank, New Jersey.
ITEM 3. LEGAL PROCEEDINGS
Manufactured Gas Plant Remediation
NJNG is responsible for the remedial cleanup of certain former MGP sites, dating back to gas operations in the late 1800s and early 1900s, which contain contaminated residues from former gas manufacturing operations. NJNG is currently involved in administrative proceedings with the NJDEP and participating in various studies and investigations by outside consultants, to determine the nature and extent of any such contaminated residues and to develop appropriate programs of remedial action, where warranted, under NJDEP regulations.
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New Jersey Resources Corporation
Part I