Blogs

December 14, 2020 Board Meeting Agenda

Notice of Meeting
Rhode Island Infrastructure Bank
Board of Directors – December 14, 2020
3:00 P.M.

This is a remote/virtual meeting held in accordance with Governor Gina Raimondo’s EXECUTIVE ORDER 20-46, issued June 12, 2020, FORTY-SECOND SUPPLEMENTAL EMERGENCY DECLARATION - PUBLIC MEETINGS AND PUBLIC RECORDS REQUESTS, and extended by EXECUTIVE ORDER 20-103, issued December 8, 2020, NINETY-EIGHTH SUPPLEMENTAL EMERGENCY DECLARATION – EXTENSION OF EXECUTIVE ORDERS, as may be renewed, modified or terminated by subsequent Executive Order.

Rhode Island Infrastructure Bank Finances Small Water System Improvements

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.

 

November 16, 2020 Board Meeting Agenda

Notice of Meeting
Rhode Island Infrastructure Bank
Board of Directors – November 16, 2020
3:00 P.M.

This is a remote/virtual meeting held in accordance with Governor Gina Raimondo’s EXECUTIVE ORDER 20-46, issued June 12, 2020, FORTY-SECOND SUPPLEMENTAL EMERGENCY DECLARATION - PUBLIC MEETINGS AND PUBLIC RECORDS REQUESTS,, and extended by EXECUTIVE ORDER 20-93, issued November 5, 2020, EIGHTY-EIGHTH SUPPLEMENTAL EMERGENCY DECLARATION – EXTENSION OF EXECUTIVE ORDERS, as may be renewed, modified or terminated by subsequent Executive Order.

Green Line Apothecary Leverages Past Efficiency Investment to Increase Liquidity

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.

 

R.I. Infrastructure Bank Announces $1 Million for Municipal Resilience Projects

Cities and towns will implement specific projects

to address the impacts of climate change

 

PROVIDENCE, RI – Rhode Island Infrastructure Bank announced $1,000,000 in action grants for inaugural participants of the Municipal Resilience Program (MRP). Through the program, five communities developed climate resilience plans with prioritized local actions and will now use the grant funds for implementation.

 

Rhode Island Infrastructure Bank Extends $7.8 Million in Savings and Announces 9 Communities for the Municipal Resilience Program

PROVIDENCE, RI – Rhode Island Infrastructure Bank presented $7.8 million in savings to 26 municipalities and utilities today as a part of its annual Legislative Day at the State House. The Bank also announced the next round of participants in the Municipal Resilience Program, which includes Bristol, Providence, Woonsocket, Little Compton, Warwick, and regional partnerships from Pawtucket/Central Falls and Newport/Middletown.

 

Pascoag Utility District Increasing Reliability and Savings Through Infrastructure Bank Loan

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank announced $1.4 million in financing through the Efficient Buildings Fund (EBF) for infrastructure upgrades in the Pascoag Utility District (PUD) today. PUD is utilizing the funds to upgrade its power grid through the acquisition and integration of a battery storage facility. By borrowing with the Bank, as opposed to a traditional private lender, PUD ratepayers will save $50,000 on debt-service over term of the loan. 

 

Infrastructure Bank Finances $1.3 M for LED Streetlights and Stormwater Improvements

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank announced $1.3 million in financing for LED streetlight conversions and stormwater improvements in Pawtucket. By borrowing through the Infrastructure Bank at below market interest rates, the City will save $157,336 on debt service payments over the lifetimes of the loans.

Rhode Island Infrastructure Bank Finances North Smithfield Water System to Address Contamination

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank (Infrastructure Bank) announced $1.4 million in low-interest financing through the Drinking Water State Revolving Fund (DWSRF) for the extension of a drinking water main line in North Smithfield. The extension will provide access to North Smithfield’s primary drinking water system for 3,000 residents currently living with contaminated drinking water wells.