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PROVIDENCE, R.I. – Rhode Island Infrastructure Bank and The Nature Conservancy are proud to announce the opening of the application period for the 2021 Municipal Resilience Program (MRP). Building off the program’s success over the past two years, the Municipal Resilience Program aims to equip municipalities with the tools necessary to assess their vulnerability to climate change, while providing the necessary funding to take on specific community resilience projects. Successful applicants gain access to technical assistance from The Nature Conservancy and the opportunity to apply for action grants through the Infrastructure Bank. The Bank has committed $2 million in grant funding for projects identified in the 2019 and 2020 MRP rounds and additional funding will be available for participating municipalities in 2021.

“The Infrastructure Bank is committed to assisting communities invest in green infrastructure that withstands and adapts to a changing climate” said Jeffrey R. Diehl, CEO of Rhode Island Infrastructure Bank. “We look forward to continuing this important program and strengthening our partnership with communities as they prepare and invest in critical infrastructure.” 

Since the program’s inception in 2019, Barrington, Bristol, Little Compton, Newport, Middletown, Pawtucket/Central Falls, Portsmouth, South Kingstown, Warwick, Warren, Westerly and Woonsocket completed Community Resilience Building workshops. During the workshop process, participating municipalities developed a list of priority projects and subsequently applied to the Bank for a share of action grant funding, which require a 25% local match. A range of resilience projects have emerged from the workshops including; stormwater management, coastal restoration, dam repair/removal, tree planting, culvert repair, and flood mitigation. Grant awards for projects identified in the 2021 MRP process will be announced in early 2022.

“Municipalities are taking action to combat rising sea levels and increased storms that will have long-term effects on local infrastructure and residents,” said Shaun O’Rourke, director of stormwater and resiliency at the Infrastructure Bank and the state’s Chief Resiliency Officer. “The Municipal Resilience Program has demonstrated the impact of identifying and accelerating investment in local priority actions through planning and project pipeline building.”

“The MRP workshops are driving community-wide conversations about on-the-ground efforts to address climate change, such as how to make sure our roads, culverts and wastewater systems can handle more frequent and intense storms,” said Sue AnderBois, The Nature Conservancy’s Climate and Energy Program Manager. “Yesterday’s solutions aren’t working anymore. We are looking forward to working with more cities and towns in 2021 to make Rhode Islanders safer and more resilient to climate change.”

All Rhode Island cities and towns can apply for the 2021 Municipal Resilience Program here. Municipalities are encouraged to apply as regional clusters or multi-municipal groups. Regional groups need not share a boundary but should be able to work well together based on their geography as well as other commonalities. MRP workshops are scheduled to start in May 2021 and will likely be conducted online. Applications are due no later than 4 PM on January 29th, 2020.  At least 5 municipalities will be selected for the 2021 round of the program.

About Rhode Island Infrastructure Bank:

Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality of life projects improve the State’s infrastructure, create jobs, promote economic development and enhance the environment. For more information, please visit www.riib.org.

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank (Infrastructure Bank) announced $1.9 million in principal forgiveness loans through the Drinking Water State Revolving Fund (DWSRF) for small water systems in Tiverton, Chepachet, and Richmond. Upon completion, the three projects will improve water quality, system resilience and lessen the financial burden on the communities.

Hillsdale Housing Cooperative, a residential community located in Richmond for those aged 55 and older, received a $1,230,919 principal forgiveness loan. The cooperative utilized the forgivable loan to fund comprehensive system and distribution upgrades to its deteriorating community drinking water system.

Lawrence Sunset Cove Association, a homeowner’s association located in Tiverton, received a $576,100 principal forgiveness loan to improve its water supply, treatment technologies and distribution systems. These preemptive upgrades will ensure that the well-based community water system continues to deliver safe, and quality water to residents.

The Harmony Hill School received a $100,000 principal forgiveness loan to fund improvements to its drinking water distribution, treatment and pumping infrastructure. Harmony Hill School is a day and residential youth developmental facility located in Glocester. 

“A number of rural Rhode Island communities gain access to drinking water through small drinking water systems,” said Jeffrey R. Diehl, CEO of the Infrastructure Bank. “Improvements to these aging systems can be cost prohibitive, which is why the Infrastructure Bank and EPA strive to provide these small and, often, disadvantaged communities with loan forgiveness. Ultimately, access to clean drinking water is an inherent right of all Rhode Islander’s -irrespective of their income levels.”

According to the Environmental Protection Agency, 90% of New England's drinking water systems are small or disadvantaged. Of this 90%, a vast majority utilize ground water sources. Small systems provide drinking water to less than 3,300 people and often have limited financial and operational resources compared to larger systems.

The Drinking Water State Revolving Fund is a financing program that provides below-market interest rate loans to public and private drinking water systems to complete water infrastructure upgrades. To date, the Drinking Water State Revolving Fund has provided more than $615 million in low-cost project-financing to 29 water systems across the State. In turn, these dollars drive public health improvements and support more than 17,500 well-paying jobs across Rhode Island’s building trades. 

About Rhode Island Infrastructure Bank:

Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality of life projects improve the State’s infrastructure, create jobs, promote economic development and enhance the environment. For more information, please visit www.riib.org.

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank proudly announces the closing of $327,584 in financing for Green Line Apothecary in Providence. Through the Bank’s Commercial Property Assessed Clean Energy (C-PACE) program, the building owner was able to borrow against energy efficiency measures previously installed while increasing liquidity during a challenging economic environment.

“Rhode Island C-PACE affords building owners the opportunity to leverage energy efficiency and clean energy measures installed any time after July 2015,” said Jeffrey R. Diehl, CEO of Rhode Island Infrastructure Bank. “This allows C-PACE to support more local businesses and assist them in accessing capital during these difficult financial times.”

Green Line Apothecary’s building, located at 905 N Main Street in Providence, was retrofitted for energy efficiency in 2019 including the installation of LED lighting throughout, high efficiency HVAC equipment, and a building envelope upgrades that exceed building code requirements. These efficiency measures, completed by Lineage Corporation, will save the business over $7,500 a year on energy costs. Greenworks Lending provided the private capital for this C-PACE loan. 

“At Green Line Apothecary, we are not just green in name only. Our modern version of the neighborhood drugstore means being engaged and responsible members of the communities we serve,” said Ken Procaccianti, President & Chief Operating Officer of Green Line Apothecary. “And practicing environmental sustainability is a crucial part to being a community steward. The Rhode Island C-PACE program enabled Green Line Apothecary, and its design & build firm Lineage Corporation, to implement significant energy efficient improvements to its Providence facility. Green Line now serves Rhode Island statewide and looks forward to working again with RI C-PACE, Greenworks Lending and Rhode Island Infrastructure Bank.”

With locations on Main Street in Wakefield and North Main Street in Providence, Green Line Apothecary is a pharmacy and soda fountain inspired by the vintage apothecary. Guests can experience their old-fashioned soda fountain and personal service while filling their prescription needs at their modern pharmacy.

About Rhode Island Infrastructure Bank:

Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality of life projects improve the State’s infrastructure, create jobs, promote economic development and enhance the environment. For more information, please visit www.riib.org.

About Rhode Island C-PACE

Rhode Island C-PACE is a program of the Rhode Island Infrastructure Bank that enables owners of commercial and industrial buildings to finance up to 100 percent of eligible energy efficiency, renewable energy, water conservation, and environmental health and safety improvements. Financing is provided by private capital providers at competitive rates with repayment terms that can span up to 25 years. For more information, visit www.ri-cpace.com.

About Greenworks Lending

Greenworks Lending is the largest provider of Commercial Property Assessed Clean Energy (C-PACE) financing in the country. Led by several of the industry’s founding policy developers and standard-setters, Greenworks Lending is a private capital provider uniquely dedicated to funding commercial real estate through C-PACE. Greenworks has provided financing to hundreds of commercial properties and is active in 23 states. Greenworks Lending’s C-PACE financing makes clean energy a smart financial decision for commercial property owners. For more information visit www.greenworkslending.com.