PROVIDENCE – The Rhode Island Infrastructure Bank recently announced $1.9 million in principal forgiveness loans for water-system upgrades in three rural Rhode Island towns.
The loans, financed through the Drinking Water State Revolving Fund, will improve water quality and system resilience and reduce the financial burdens on Tiverton, Glocester and Richmond.
Projects and financing are as follows:
- $1.2 million for Hillsdale Housing Cooperative in Richmond.
- $576,000 to Lawrence Sunset Cove Association in Tiverton.
- $100,000 to Harmony Hill School in Glocester.
The Drinking Water State Revolving Fund offers below-market interest rate loans to public and private drinking-water systems, and has financed $615 million to 29 water systems across the state.
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Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.
