Infrastructure Bank Closes On $1 Million Loan For Study Of Water Quality Issues Impacting City Of Providence Ponds & Rivers

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank has closed on a $1,000,000 Clean Water State Revolving Fund Loan, with $400,000 in principal forgiveness, for the City of Providence to conduct studies into water quality issues impacting Mashpaug Pond (phosphorous), Roger Williams Park Ponds (phosphorous and bacteria), the Woonasquatucket River (heavy metals and bacteria), and West River (bacteria). Once completed, the studies will also provide a series of Best Management Practices to improve stormwater management and water quality.

“The City of Providence has made major progress improving the water quality of several of their ponds and rivers, and this Clean Water State Revolving Fund loan will allow the City to continue that work,” said Jeffrey Diehl, CEO of Rhode Island Infrastructure Bank. “We are pleased to assist Providence in their efforts to improve water quality for these waterways, which are critical to both the environment and recreation for residents.”

“Providence residents deserve access to clean waterways,” said Providence Mayor Brett Smiley. “Thanks to this loan from the Infrastructure Bank, we’ll be better able to identify stormwater issues that are impacting our ponds and rivers, and implement best management practices to improve water quality. We thank Rhode Island Infrastructure Bank for being an important partner in our work to improve the quality of Providence’s waterways and put the health and safety of our residents first.”

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. – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank

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