Infrastructure Bank Provides $788,000 Loan to Bristol for Design of Multiple Clean Water Projects

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners has closed on a $788,000 Clean Water State Revolving Fund (CWSRF) loan to the Town of Bristol for the design and engineering required for four waste and stormwater projects:

1. Design of a Bristol composting facility
2. Rehabilitation of wastewater infrastructure
3. Improvements to Bristol’s wastewater treatment facility
4. Elimination of the Ferry Road shoreline pipe

“Like many coastal communities, Bristol is experiencing more frequent flooding events that require increased wastewater/stormwater collection and treatment capacity,” said William Fazioli, Executive Director of the Rhode Island Infrastructure Bank. “This low-cost Clean Water State Revolving Fund loan will allow Bristol to move forward with the design and engineering of four important projects to modernize the town’s waste and stormwater infrastructure.”

“Several recent heavy rain and coastal flooding events have made it clear that Bristol needs to upgrade our sewer and stormwater collection and treatment infrastructure,” said Town Administrator Steven Contente. “This loan will allow us to conduct the design and engineering needed to move these important upgrade projects forward. We want to thank Rhode Island Infrastructure Bank for providing this low-cost financing. And once design and engineering are complete, we anticipate returning to the Infrastructure Bank for financing to build these critical infrastructure projects.”

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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