Taxpayers in four communities will save approximately $1 million in debt service payments after financing projects through the Infrastructure Bank’s Drinking Water State Revolving Fund (DWSRF). The Infrastructure Bank is lending $18.2 million for municipal drinking water improvement projects in the communities of Woonsocket, Cumberland and Burrillville and to those served by the Providence Water Supply Board.
The City of Woonsocket received a $12.5 million loan for the construction of a new drinking water treatment facility. The Town of Cumberland received $4 million to upgrade various components of their water distribution system and the Town of Burrillville will upgrade a water main with $700,000.
Providence Water received a $1 million loan to increase funding available for homeowners in Providence Water’s service area to finance replacements of private lead service lines that connect their property to the main water line. This program offers homeowners 0%-interest loans payable monthly over three years.
“The Infrastructure Bank is committed to assisting our State’s drinking water suppliers, large and small, meet their capital improvement needs,” said Jeff Diehl, Executive Director and CEO of Rhode Island Infrastructure Bank. “We are excited to be assisting local communities to improve the safety of their drinking water and protect the health of Rhode Islanders.”
To date, the Infrastructure Bank has helped finance over $500 million in drinking water projects throughout the state.
The City of Woonsocket received a $12.5 million loan for the construction of a new drinking water treatment facility. The Town of Cumberland received $4 million to upgrade various components of their water distribution system and the Town of Burrillville will upgrade a water main with $700,000.
Providence Water received a $1 million loan to increase funding available for homeowners in Providence Water’s service area to finance replacements of private lead service lines that connect their property to the main water line. This program offers homeowners 0%-interest loans payable monthly over three years.
“The Infrastructure Bank is committed to assisting our State’s drinking water suppliers, large and small, meet their capital improvement needs,” said Jeff Diehl, Executive Director and CEO of Rhode Island Infrastructure Bank. “We are excited to be assisting local communities to improve the safety of their drinking water and protect the health of Rhode Islanders.”
To date, the Infrastructure Bank has helped finance over $500 million in drinking water projects throughout the state.
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