PROVIDENCE – The Environmental Protection Agency announced Wednesday the availability of $21.7 million in funds from the Clean Water and Drinking Water state revolving funds for Rhode Island.
The two funds are exclusively handled by the R.I. Infrastructure Bank. Both require state match, loan repayments and interest that flows back to the funds. State matches for the funds add 20% to the total available for financing projects.
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Nationwide, the EPA allocated $2.6 billion across both funds, including $200 million in New England.
The Drinking Water State Revolving Fund can be used for loans that help drinking water systems install controls to treat contaminants such as PFAS, or Per- and polyfluoroalkyl substances, and improve distribution systems by removing lead service lines.
The Clean Water State Revolving Fund is available for a wide range of water infrastructure projects, including modernizing aging wastewater infrastructure, implementing water reuse and recycling, and addressing stormwater.
“EPA’s $2.6 billion contribution to the State Revolving Funds will enable more communities to make the investments needed to ensure Americans have safe water for drinking and recreation. These funds can also be combined with EPA’s Water Infrastructure Finance and Innovation Act loans to create a powerful, innovative financing solution for major infrastructure projects nationwide.”
The EPA allocated Rhode Island $21.9 million for the two funds in 2018, and $17.1 million in 2017. Federal funds are not provided until the R.I. Infrastructure bank receives and draws upon state funds.
