RIIB Treasurer Magaziner Named Clean Water Action's "Elected Official of the Year"

Rhode Island Infrastructure Bank Board Treasurer and State of Rhode Island General Treasurer Seth Magaziner was recently awarded Clean Water Action’s "Elected Official of the Year" award for his work developing Rhode Island Infrastructure Bank and promoting green infrastructure and energy efficiency projects throughout the state. Clean Water Action works nationally to win strong health and environmental protections and to solve environmental and community problems.

Treasurer Magaziner worked to develop the Infrastructure Bank’s clean energy and energy efficiency programs to help businesses, municipalities, and residents finance energy projects through innovative programs like the Efficient Buildings Fund and Commercial Property Assessed Clean Energy (C-PACE). across Rhode Island. These programs were designed to address several challenges that have plagued Rhode Island for years, including unemployment in the building and construction trades, the high cost of energy, and the impacts of climate change.

"Rhode Island's economic success is tied to the sustainability of its natural resources," said Treasurer Magaziner. "In Treasury, we have used the office to finance green infrastructure projects that are putting Rhode Islanders to work now and saving money going forward."

Last year, the Infrastructure Bank’s Efficient Buildings Fund provided over $17 million in its first round of financing to support a variety of energy efficiency and renewable energy projects. These projects are expected to create or support more than 260 jobs and ultimately save taxpayers more than $20 million in energy costs.

The Infrastructure Bank also recently announced that the first two C-PACE projects have received financing. Both projects call for the installation of roof-mounted solar panels on two office buildings in Middletown and will save an estimated more than $225,000 in energy costs (after financing costs) over the 20-year financing term.