Registration for the 2019 R.I. Infrastructure Summit is now open. Register here!
Drinking Water State Revolving Fund Gives Big Boost to Municipal Drinking Water Projects 
The Infrastructure Bank announced $45 million in financing for drinking water projects in Providence, Portsmouth and Woonsocket through the Drinking Water State Revolving Fund. 

Providence Water is utilizing $14.7 million for the replacement of lead service lines and to replace or reline water mains and valves throughout Providence. 

Portsmouth Water and Fire District is investing $3.1 million to replace the Union Street Pumping Station and demolish the current, 50-year old station. The new plant will increase the water system’s peak demand capacity, providing significant improvement to operations and flexibility of the town. 

Woonsocket’s $27.2 million loan marks the city’s third and final transaction from the Bank for the construction of a new water treatment plant. Across the three financing rounds, the Bank has lent more than $55 million to the City for this vital project. By financing these upgrades through the Infrastructure Bank’s Drinking Water State Revolving Fund, the City of Woonsocket will save more than half a million dollars on debt service due to the lower interest rates. The new plant will provide significant capacity and environmental upgrades over the legacy system currently being used.
Providence Business News recently recognized Jeffrey Diehl, Executive Director and CEO of the Infrastructure Bank as a recipient of the publication’s inaugural “25 over Fifty-Five” Award. The list highlights twenty-five accomplished business leaders from a wide-ranging field of nominees based on their career achievements and strong leadership in the region.

Since starting at the Bank in 2016, Diehl has led the expansion of the Bank’s programs, mandate and digital transformation. The Bank’s customer centric focus has created opportunities for municipalities, businesses and quasi-public agencies to invest in their infrastructure and clean energy at a low cost. The Bank is marking its 30 th anniversary and over $2 billion in lending. 

Congratulations Jeff! 

Keynote Speaker Selected for 3rd Annual Infrastructure Summit 
Rhode Island Infrastructure Bank is pleased to announce The Honorable Henry Cisneros and President Christine Paxson of Brown University as the keynote speakers for the 3rd annual Rhode Island Infrastructure Summit on September 26 th . The Summit, which began in 2017, brings together hundreds of public and private sector professionals to tackle the state’s infrastructure needs, discuss innovative solutions, and connect with project partners.

Cisneros is a former Mayor of San Antonio, and most recently served as President Clinton’s Secretary of Housing and Urban Development. During his four terms as the mayor of San Antonio, Cisneros helped rebuild the city’s economic base and spurred the creation of jobs through massive infrastructure and downtown improvements. As HUD Secretary, Cisneros initiated the revitalization of the nation’s public housing developments and formulated policies which contributed to the nation’s highest ever homeownership rate. After a prolific career in public service, Cisneros currently presides as Principal and Chairman of the Executive Committee of Siebert Cisneros Shank, a full-service investment banking and financial services company for municipal and corporate clients. 
Prior to her appointment at Brown, President Paxson was dean of the Woodrow Wilson School of International and Public Affairs and the Hughes Rogers Professor of Economics and Public Affairs at Princeton University. Additionally, Paxson is a member of the US Council on Foreign Relations, American Academy of Arts and Sciences, and serves as the Chair of the Board of Directors for the Federal Reserve Bank of Boston. 
Local Communities Preparing for Effects of Climate Change
South Kingstown officials joined together this month for the first in a series of workshops to catalyze the implementation of climate adaptation projects. As part of the Infrastructure Bank’s Municipal Resilience Program, local communities are building upon the work that they have already completed to identify top-tier vulnerabilities by defining specific actions to address the issues. The pilot program, made possible through a partnership with the R.I. Nature Conservancy, brings a communities’ planning efforts to life, eventually leading to grant and financing opportunities for capital improvements with the Bank. 

Over forty town leaders participated in the workshops and facilitators included staff from the Coastal Resource Management Council, Coastal Resource Center at U.R.I., and Save the Bay. We are looking forward to building on the success of this event at workshops later this summer in Barrington/Warren, Portsmouth and Westerly.

The Bank is hosting its 3 rd  annual Infrastructure Summit on September 26 th at the Rhode Island Convention Center. The Summit brings together hundreds of public and private sector professionals to collaborate on solutions for the State’s most pressing infrastructure needs.  Register now!