Infrastructure Bank Provides $250,000 Grant To Central Falls For Sewer System Upgrade Planning

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 $250,000 Clean Water State Revolving Fund (CWSRF) loan, with 100% principal forgiveness (i.e. a grant) to the City of Central Falls for the development of a sewer facility plan. The funding will support Central Falls’ plans for future sewer improvements.

“The City of Central Falls’ sewer infrastructure has components that are over 100 years old and in need of comprehensive upgrades,” said William Fazioli, Executive Director of the Rhode Island Infrastructure Bank. “This $250,000 in very attractive funding from the Clean Water State Revolving Fund will allow Central Falls to develop a comprehensive facility plan, an important first step to qualify for future CWSRF loan financing and to upgrade the City’s sewer system.”

“Our city’s sewer infrastructure is critical to our residents, businesses, and to protecting our environment,” said Central Falls Mayor Maria Rivera. “This $250,000 grant will allow us to map out a comprehensive plan to modernize our sewer system and to qualify for future financing to implement the plan’s recommendations. We want to thank Rhode Island Infrastructure Bank for working with us as a valued partner in addressing this critical infrastructure project.”

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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