Infrastructure Bank Finances $60 Million in Water Projects

Rhode Island Infrastructure Bank recently approved financing for a combined $60 million in clean and drinking water projects throughout the State. $41 million will finance clean water projects in North Kingstown, Newport, and Warwick, while $19 million will finance drinking water projects in Cumberland and Providence.

“As our water infrastructure continues to age, many municipalities are making strategic investments in protecting both the health of their citizens and the broader environment, while spurring economic development in their communities,” said Jeffrey Diehl, CEO of Rhode Island Infrastructure Bank. “Ready and affordable access to financing is essential to achieving these goals—and that’s where the Infrastructure Bank plays a vital and growing role.”

The projects financed include:

Clean Water

Newport will receive a $33.4 million loan for a variety of improvements to the Newport Wastewater Treatment Facility. Additionally, Newport combined financing secured through the Infrastructure Bank’s Efficient Buildings Fund to install solar panels and energy efficiency measures at the facility.

Warwick will receive a $3.7 million loan to extend the City’s sewers into the Northwest Gorton’s Pond, Governor Francis Farms, East Natick/O’Donnell Hill and Bayside neighborhoods.

North Kingstown will receive a $3.6 million loan that will allow the Town to extend its sewer system into the Wickford Village commercial district, enabling approximately 50 commercial properties to tie in to the system. In addition, access to the sewer system will provide economic benefits in Wickford by enabling local businesses to expand and allowing a wider variety of businesses to locate in the area.

Drinking Water

The Cumberland Water Department will receive a $3.0 million loan for the construction of a new well and associated components.

The Providence Water Supply Board will receive a $16.2 million loan for the rehabilitation of its drinking water distribution system, including the remediation of lead service connections.