Message From The ED

Dear RIHEBC community:

Setting out upon the highway that is 2022, we all were hopeful that the pandemic was in our rearview mirror and better times were ahead. While Covid appears to be waning, our hopes have been challenged by additional hardships: severe inflation, rising gas prices, and, of course, tragic events on the world stage. In the face of such new crises, we are sometimes tempted to pause our journeys, to turn inward and tune out the world around us.

But we must keep moving forward. To do so, we at RIHEBC have focused on how we might impact those around us, and how we might proceed with an emphasis on progress. And for me, this quarter, progress was made once again in the form of helping important Rhode Island institutions achieve their goals and further their missions. All of these wonderful organizations and the support RIHEBC was able to give them are highlighted in this newsletter. 

At one end of the beautiful spectrum of organizations that RIHEBC was able to assist is AccessPoint RI, to whom we made a $20,000 grant for emergency generators for its homes for developmentally disabled adults. For CODAC Behavioral Healthcare, we provided a $100,000 grant for badly needed capital projects to assist them at a time when mental health issues and opioid addiction are at an all-time high. Both AccessPoint and CODAC were among 12 recipients of just over $1 million in grants from RIHEBC’s Board-approved FY22 Capital Grant Program. On the other side of the spectrum, and at the heart of our mission, are the school districts, including Pawtucket, Newport, and Warwick, for whom we facilitated $160 million in low-interest-rate financings to renovate or replace aging, deteriorating and outdated school buildings.

I extend my sincere thanks to RIHEBC’s Board of Directors, who voluntarily offer their expertise and thoughtful guidance to all of RIHEBC’s activities, including those highlighted within.

Kim Mooers
Executive Director
RIHEBC Awards $1 Million In Capital Grants To 12 Local Health, Education & Community Service Organizations

Rhode Island’s not-for-profit health, education, and community service organizations need to continually invest in their equipment and facilities, and that’s why we created the Capital Grant Program.

In March, we were pleased to announce the awarding of over $1 million to 12 grant recipients across the state. From funding for emergency generators to new HVAC units, to building repairs, to ADA accessibility improvements, to new dental sterilization equipment, these grants will allow recipients to meet their missions and continue to provide the health and education services Rhode Islanders rely on.
AccessPoint RI
Emergency generators in two group homes for adults with developmental disabilities.
CODAC Behavioral Healthcare
Mandatory capital improvements at Providence and Pawtucket locations.
Town of Cumberland
ADA handicapped accessible playground at Norton Elementary School.
Family Service of RI
Repair damage caused by a flood at 55 Hope Street, Providence.
J. Arthur Trudeau Memorial Center
Install fire sprinkler system in the Mullen Building, a recreational center and gymnasium for children and adults with disabilities.
Linn Health & Rehab/ Aldersbridge Communities
Rehabilitation equipment and diathermy treatment equipment; care management operating system.
Lucy's Hearth
Replace malfunctioning HVAC units in 15 family apartments.
Mercymount Country Day
Roof replacement of school building built in 1960.
The Prout School
Development of an artificial turf field with lighting, a press box, spectator seating and additional parking, to be used by the School and the surrounding communities.
Saint Antoine Residence - $66,700
Nurse call light system.
Thrive Behavioral Health
Roof replacement of Eleanor Briggs School (special education k-12).
Thundermist Health Center
Purchase of sterilization equipment for new dental facility.
RIHEBC Welcomes New Board Members

We are pleased to welcome three new members to our Board of Directors:
William Murray, Vice Chairman
Mr. Murray, a resident of Cumberland, Rhode Island for 56 years, was Mayor of Cumberland from 2015 to 2019. He is currently working for Best Practice Energy in Wakefield as Energy Adviser/Consultant.
Lisa Andoscia, Board Member
Lisa Andoscia is a resident of North Providence, Rhode Island, and a business consultant. In 2002, Lisa founded Rosewood Consulting Inc.
Channavy Chhay, Board Member
Channavy Chhay, a resident of East Greenwich, Rhode Island, is the Executive Director of the Center for Southeast Asians.
RIHEBC Closes On Over $161 Million In Bond Financings In Q1 2022
City of Pawtucket Seal
City of Pawtucket
Capital Improvements
Partially finance projects authorized for Pawtucket schools
City of Warwick Seal
City of Warwick
Capital Improvements
Renovation/improvements to school facilities throughout the city.
Roger Williams University Logo
Roger Williams University
Refinancing of 2018 bonds
City of Newport Seal
City of Newport
Capital Improvements
Finance an addition to the Claiborne Pell Elementary School and a new school facility for Rogers High School
RIHEBC Information Session Interest Survey

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RIHEBC In The News

“It is more important than ever for children to be able to get outdoors and engage with one another in inclusive and collaborative play,” said Mayor Jeff Mutter. “This generous grant from the Rhode Island Health and Educational Building Corporation will allow us to enhance these opportunities for the students at B.F. Norton,” said Mutter.

The $98.5 million bond issued on behalf of the City of Newport will help fund construction of a new William S. Rogers High School, as well as an addition to Claiborne Pell Elementary School.

The Rhode Island Health and Educational Building Corporation (RIHEBC) closed on a $23.83 million school improvement bond issue for Warwick Public Schools March 9.
RIHEBC's Programs

Tax-exempt bonds for capital projects and refinancings in excess of $4 million with a term in excess of 10 years. Learn more.

Equipment leases for equipment purchases and capital projects in excess of $1 million with a term of 10 years or less. Learn more.