Infrastructure Bank Meets with Aquidneck Island Communities as Part of Outreach Tour

The Infrastructure Bank recently met with community leaders of Newport, Middletown, and Portsmouth as part of a public outreach tour. In the coming months, Infrastructure Bank staff will be meeting with leaders of all of Rhode Island’s municipalities and quasi-public agencies, with the goal of gaining a better understanding of their infrastructure needs. Through this outreach, the Infrastructure Bank is raising awareness of the opportunities available through existing programs and identifying financing gaps that could be addressed by modifying our existing programs and/or creating new ones.

During the meetings, the Infrastructure Bank discussed the challenges of redeveloping the former U.S. Navy properties that each of the three communities will soon be taking ownership of. One challenge is constructing the infrastructure necessary to support development at the properties. The Infrastructure Bank will continue to engage with each of the communities to identify ways for our financing programs to assist in repurposing these properties.

“The redevelopment of former military sites represents a good example of how municipalities are thinking of infrastructure as not only a service to be provided, but also an economic development opportunity,” said Jeffrey Diehl, Executive Director and CEO of Rhode Island Infrastructure Bank. “Municipalities are increasingly recognizing the vital role infrastructure plays in growing the economy.”