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Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We efficiently leverage limited capital and offer below-market, innovative financing for an array of infrastructure-based projects including water and wastewater, transportation, 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.
Established by the Rhode Island General Assembly in 1989, the Bank’s mandate was significantly expanded in 2015 by adding energy and brownfield remediation initiatives to its existing water and transportation programs. The Bank’s expanded mandate has significantly enhanced its ability to provide competitive financing to a broader variety of infrastructure-based projects.
Infrastructure Bank Announces $4.9 Million
for Municipal Resilience Program Action Grants and Names 6 Municipalities to Participate in 2022 Program Round
Cities and towns will implement specific projects to address impacts of climate change
PROVIDENCE, R.I – Rhode Island Infrastructure Bank today announced $4.9 million in Action Grants for participants of the Municipal Resilience Program (MRP). Communities prioritized local actions through the program and will use grant funds to implement projects that will increase their climate resilience.
“The Infrastructure Bank stands by our commitment to Rhode Island’s municipalities to accelerate investment in critical infrastructure and nature-based solutions that will better prepare communities for a changing climate” said Jeffrey R. Diehl, CEO of Rhode Island Infrastructure Bank. “The Bank’s Municipal Resilience Program directly supports cities and towns to identify and fund priority resilience projects, with a particular focus on nature-based solutions and those benefitting disadvantaged communities. We look forward to building on the success of the first three rounds of the program and strengthening relationships with our municipal partners statewide to proactively address climate change.”
With support from The Nature Conservancy, 20 municipalities have completed Community Resilience Building workshops and developed prioritized lists of actionable resilience plans and projects. Municipalities are then eligible to submit applications for MRP Action Grants with a 25% local match requirement. After a competitive review process, the selection committee recommended the following proposals to receive funding for implementation:
● Barrington - Shoreline adaptation and upgradient tree planting at five sites for water quality, flood reduction, and heat reduction benefits; in addition, improvements at the Municipal Tree Nursery to support street tree populations across town
● Bristol - Green infrastructure at Independence Park to improve water quality, reduce flooding, and create safer public access
● Central Falls & Pawtucket - Two parklets, one in each City, along the Pine Street corridor in the Pawtucket-Central Falls Transit Oriented Development District, which will incorporate green infrastructure for water quality and flood reduction benefits
● Cumberland - Planting of 196 trees at 26 locations throughout the Valley Falls and Lonsdale neighborhoods for stormwater management and cooling benefits
● Cumberland - Enhancement of Cumberland’s stormwater management system along Industrial Road, incorporating a combination of green and gray infrastructure techniques
● East Providence - Stormwater management installations incorporating green infrastructure at Beach Road and Willet Pond and floodproofing of the Silver Street Pump Station
● Newport - Shoreline adaptation and green infrastructure installations at the end of Pine Street to improve water quality, reduce flooding, control erosion, and increase public access to the waterfront
● North Kingstown - Shoreline adaptation and green infrastructure at the end of Roger Williams Drive, providing water quality, flood reduction, and erosion control benefits
● North Kingstown - Flooding solutions at the Brown Street Parking Lot in Wickford Village, utilizing green infrastructure and elevation to address both water quality and flooding concerns
● Portsmouth - Stormwater injection facility and green infrastructure at Riverside Street and dredging at Founders Brook to remove silt and vegetation buildup without hardening or channelizing the watercourse to address water quality concerns and reduce flooding
● Providence - Green infrastructure “treatment train” at Mashapaug Pond that will address water quality concerns and allow for the testing of innovative stormwater management methods
● Providence - Emergency generators at the Davey Lopes Recreation Center and the Elmwood Community Center to allow these centers to provide shelter during storm and extreme temperature events, and as a first step to establishing these centers as Resilience Hubs, which will provide information & engagement on climate resilience and transition to clean-energy systems in line with City-wide resilience goals
● Tiverton - Restoration of natural hydrological patterns, relocation of vulnerable infrastructure, and creation of sand dunes stabilized with beach grass at Fogland Beach, Fogland Marsh, and Three Rod Way to address flooding concerns and protect against storm surges
● Warren - Installation of stormwater management green infrastructure at Fern Drive to provide water quality treatment and reduce flooding
● Westerly - Installation of nature-based stormwater infrastructure along Main Street, serving as a nature-based solution demonstration that will improve water quality, reduce flooding, reduce heat, and increase green space
The Bank also named six municipalities to participate in the 2022 round of the MRP. This is the fourth round of the program and increases the number of participating communities to 26.
Selected 2022 municipalities:
● Burrillville
● Charlestown
● Glocester
● Lincoln
● Narragansett
● Richmond
“Municipalities across the state are already feeling the impacts from climate change – from increased damage from storms to rising sea levels,” said Sue AnderBois, The Nature Conservancy’s Climate and Energy Program Manager. “The Nature Conservancy is proud to have partnered with the Infrastructure Bank to bring these planning workshops to 20 of the state’s 39 municipalities already, and we are so pleased to see the municipalities taking advantage of these initial grants to implement the recommendations of their workshops. We know there continues to be additional need for this type of planning and implementation. The proposed Green Bond includes an additional $16 million for implementation grants, and we are working with our colleagues across the region to determine how we can leverage federal infrastructure funds here in Rhode Island.”
All Rhode Island cities and towns are eligible to apply for the Municipal Resilience Program. More information on the program can be found here.
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 The Nature Conservancy
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions such as Community Resilience Building to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 72 countries, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org or follow @nature_press on Twitter.
PRESS RELEASE For Immediate Release: March 30, 2022
Infrastructure Bank Awards $827,000 In Water Quality Grants To 4 Water Systems Across Rhode Island
PROVIDENCE, R.I. – Rhode Island Infrastructure Bank (Infrastructure Bank) today announced the award of $827,000 in water quality grants to 4 public water systems across Rhode Island. Awards come from the Bank’s Water Quality Protection Charge program, which makes funds available to public drinking water suppliers to complete projects that protect sources of drinking water.
· $28,500 grant to the Pawtucket Water Supply Board for the purchase of a conservation easement and right of first refusal for watershed property adjacent to Pawtucket Water’s reservoir in Cumberland.
· $672,000 grant to the Kent County Water Authority for the purchase of two parcels in the Town of Coventry and Hopkins Hill water main looping and re-servicing.
· $2,700 grant to the Richmond Water Supply Board for engineering costs associated with the design and permitting of a water treatment system.
· $123,900 grant to the Westerly Water Department for the development of a Water Supply System Management Plan, a vulnerability assessment, and a dead-end looping project on Spray Rock Road.
“Rhode Island’s communities, residents, and businesses depend on the reliable supply of clean drinking water, and these grants will allow water suppliers across the state to invest in important water quality protection projects,” said Rhode Island Infrastructure Bank CEO Jeffrey R. Diehl.
Through our drinking water programs, the Infrastructure Bank has provided $647 million in loans and grants for drinking water projects across the state.
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About the 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. www.riib.org – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank
Infrastructure Bank Announces $810,000 In Financing & Principal Forgiveness For Ponaganset High School Water System Upgrades
PROVIDENCE, R.I. – Rhode Island Infrastructure Bank (Infrastructure Bank) today announced an $810,000 loan and $200,000 in principal forgiveness for safe drinking water upgrades to Ponaganset High School’s water system. The project is being financed via the Drinking Water State Revolving Fund (DWSRF), which provides below-market interest rate loans to community public water systems, nonprofit noncommunity public water systems, privately organized water suppliers, and local governmental units to complete water infrastructure projects.
Upgrades to Ponaganset High School’s water system will include:
“Rhode Island’s many smaller water systems, like Ponaganset High School’s system, lack a broad base of rate payers to finance necessary, but often expensive system upgrades,” said Rhode Island Infrastructure Bank CEO Jeffrey R. Diehl. “That’s why the Infrastructure Bank is pleased to offer the Foster Glocester School District low-cost financing and principal forgiveness to allow for needed upgrades to ensure the continued supply of safe drinking water at Ponaganset High School.”
“I want to thank Rhode Island Infrastructure Bank for working with us to help finance these needed upgrades to Ponaganset High School’s water system,” said Dr. Michael Barnes, Superintendent of the Foster-Glocester Regional School District. “Our Ponaganset High students, teachers, and staff rely on safe drinking water, and these upgrades will help to ensure just that for decades to come.”
Since the inception of the DWSRF, the Infrastructure Bank has provided $450 million in loans to Rhode Island’s public water systems.
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About the 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. www.riib.org – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank
Executive Director and CEO
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