For Immediate Release: July 31, 2025
PROVIDENCE, R.I. – Rhode Island Infrastructure Bank has closed on a $1.5 million Municipal Road & Bridge Revolving Fund loan for the Town of Hopkinton for road resurfacing work. The project will be a two-step process, including a shimming of the roads and then a rubber chip seal surfacing that will be completed in early Summer. Additionally, a Maltene Replacement Technology (MRT) treatment will be applied to Town roads, extending the useful life of the existing asphalt surface by an estimated 8-10 years.
“Roads are basic infrastructure that Rhode Island’s cities, towns, businesses, and residents rely on every day, and we are pleased to provide low-cost financing to the Town of Hopkinton so they can maintain and improve their roads,” said William Fazioli, Executive Director of Rhode Island Infrastructure Bank. “By utilizing our Municipal Road & Bridge Loan program, Hopkinton was able to achieve significant interest rate savings compared to a market rate loan.”
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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
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