Infrastructure Bank State House Day Celebrates Municipal Infrastructure Grant Program Award Recipients

On March 2nd, the Infrastructure Bank was joined at the State House by Treasurer James Diossa, legislators, and municipal leaders to celebrate the success of our Municipal Infrastructure Grant Program (MIGP). Created by the General Assembly in 2021, the MIGP has awarded $3.5 million in grant funding to 9 cities and towns across the state. From upgrading sewer and stormwater infrastructure, to investments in affordable housing, to building a new riverwalk, to athletic field improvements, to Main Street revitalization, these grants are helping our municipal partners implement infrastructure solutions that improve quality of life and spark economic development.

Thank you to everyone who joined us for our 2023 State House Day!

2022 Annual Report

We had a big impact in 2022, investing over $122 million in 63 water, climate resiliency, clean energy, transportation, and brownfield infrastructure projects across Rhode Island. Investments that supported more than 3,000 jobs.

And our below-market interest rate loans for municipal infrastructure saved our cities and towns and their utility enterprises over $11 million in interest expense, easing the burden on our tax and rate payers.

Read our full 2022 Annual Report here.

Bill Fazioli Joins Infrastructure Bank As New Managing Director, Anna Coelho Cortes Promoted to Deputy Managing Director

We're pleased to welcome Bill Fazioli as the Bank’s new Managing Director of Program and Business Development and to share the promotion of Anna Coelho Cortes to Deputy Managing Director of Program and Business Development.

Bill brings over 30 years of experience in municipal finance, planning, project development, and infrastructure investment along with deep relationships with state and municipal leaders across Rhode Island. As Managing Director of Program and Business Development, he’ll lead our outreach to municipal, business, and other partners.

Over the past 25 years working with the Infrastructure Bank, Anna has built excellent relationships with our municipal partners, educating them about our programs and facilitating loan and grant applications.

With the combined expertise of Bill and Anna, we’re going to make sure our municipal partners know about and are able to access the nearly $500 million of federal funding from the Bipartisan Infrastructure Law flowing into Rhode Island for drinking water, wastewater, and other critical infrastructure projects.

We're Hiring! Business Development Analyst and Administrative Assistant Openings

We're hiring!

• Business Development Officer
• Business Development Analyst
• Administrative Assistant

Cover letters and resumes to careers@riib.org.

Infrastructure Bank In The News

Second phase of North Providence lead pipe replacements begins soon, Valley Breeze

The town is working diligently to begin the next phase of its “Remove the Whole Lead Pipe” program, says Mayor Charles Lombardi. The project has secured additional funding from the Rhode Island Infrastructure Bank through the Environmental Protection Agency, as well as commitment from contractors to replace old lead pipes in private homes on select streets. This effort is a preventative one, to ensure residents won’t have lead in their drinking water later down the line, an issue that can lead to nerve and brain damage, among other detrimental effects, say officials.

Weather is becoming more extreme. This is how Aquidneck Island towns are preparing. Newport Daily News

In a presentation to the Portsmouth Town Council about regional climate resilience on Aquidneck Island, Paige Myatt of the Rhode Island Infrastructure Bank made the point that the fortunes of Aquidneck Island’s three municipalities are as intertwined as their shared watershed systems, which “don’t know municipal boundaries” when it comes to stormwater runoff and flooding.

Pawtucket wins big on infrastructure grants for riverfront, near train station, Valley Breeze

Pawtucket is receiving an outsized portion, or about half, of $2.5 million in Rhode Island Infrastructure Bank grants statewide, giving the city a leg up as it continues to pursue major infrastructure upgrades in the downtown, along the riverfront, and near a newly opened train station.

Knightsville project receives additional funding, Cranston Herald

The Board of Rhode Island Infrastructure Bank has awarded Cranston with $300,000 for the redevelopment of Knightsville Park. The funds assist with enhancing ADA access to the park, concrete ramps, new pavement markings, signage and crosswalks.

Grant for key School Street pipe replacement paves way for state project, Valley Breeze

A $100,000 Rhode Island Infrastructure Bank grant, part of $2.5 million in awards statewide, will help the town avoid having to dig up School Street after it is repaved next year.

North Providence now has full funding for two athletic facilities, Valley Breeze

A $300,000 grant from the Rhode Island Infrastructure Bank toward development of a new athletic and recreation facility at the former Coletti Farm off Elena and Verdi Streets is the final piece of the financial puzzle to develop a pair of new community facilities.

Infrastructure investments position East Providence for continued economic growth, New England Real Estate Journal

The city is utilizing grant funding from the Rhode Island Infrastructure Bank (RIIB) to improve water quality and flood resilience along neighborhoods and roads abutting the upper Narragansett Bay. The city received $75,000 for improvements to Willett Pond and $75,000 to flood-proof the Silver Street Pump Station from the RIIB. An additional $75,000 was also awarded to the city to make water quality and drainage improvements to Beach Rd. in Riverside, which sends runoff into the Providence River. These improvements will capture and treat runoff before entering the water. By taking advantage of funding opportunities like the RIIB’s Municipal Resilience Program, the city’s capital investments go further to execute projects that increase climate resilience.