Infrastructure Bank Provides $5 Million In Financing For Water Main Replacements In Lincoln’s Saylesville Neighborhood

PRESS RELEASE
For Immediate Release: August 20, 2025

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank has closed on $5 million in low-cost financing for water main replacements in the Town of Lincoln’s Saylesville neighborhood. The project will replace approximately 7,400 feet of asbestos cement water main with new ductile iron water main. The $5 million Drinking Water State Revolving Fund loan also includes $250,000 at 0% interest for public and private service line replacements within the Saylesville project.

“When we turn on the water tap, we just expect clean, safe drinking water without realizing the millions of dollars in infrastructure required to support that every day activity,” said Rhode Island Infrastructure Bank Executive Director William Fazioli. “That is why we are pleased to provide the Town of Lincoln with $5 million in low-cost financing so they can replace aging water mains and lead service lines in the Saylesville neighborhood.”

“The water mains serving the Saylesville area are more than 70 years old and in need of replacement,” said Lincoln Town Administrator Philip Gould. “We want to thank the Infrastructure Bank for providing us with this $5 million in financing so we can upgrade this important drinking water delivery infrastructure that our Saylesville residents and businesses rely on every day.”

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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