PROVIDENCE – The Rhode Island Infrastructure Bank recently approved a nearly $11 million loan for the Warwick Sewer Authority, according to Jeffrey Diehl, the bank’s CEO and executive director.
The $10.8 million loan approved at the bank’s Oct. 18 board of directors meeting will help pay for a new sewer line in Warwick’s Bayside area, as well as new interceptors for the Amtrak station and along Airport Road.
The city in 2013 signed off on plans to borrow up to $33 million to overhaul its sewer system, according to the application submitted to the bank. That included two sections of sewer upgrades in Bayside, which has been plagued by overflowing cesspools and failing septic systems for years, the Warwick Beacon reported.
The city in September signed a $17.9 million contract with D’Ambra Construction to begin upgrading the failing septic systems by new sewer lines, the Beacon reported.
The 30-year loan from the Rhode Island Infrastructure Bank comes through its Clean Water State Revolving Fund, which offers below-market interest rate loans to municipalities and quasi-public agencies for projects that address water pollution.
About $6.1 million of the loan money will fund the Bayside sewer upgrades, with $3 million and $1.2 million for repairs to gravity interceptors along Airport Road and the Amtrak station, respectively.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
