PROVIDENCE – The Rhode Island Infrastructure Bank will loan an additional $315,000 to the Wickford Village Commercial Area Wastewater Collection System Project, according to a news release.
The project, which is financed through the bank’s Clean Water State Revolving Fund, already received a $3.6 million loan in 2017. The infrastructure bank’s program will save North Kingstown an estimated $234,000 on debt service payments for both loans.
The financing to North Kingstown funds a project to install 10,000 linear feet of sewer lines and a pump station with an emergency generator. The most recent loan covers the cost to add 850 linear feet of sewer line near Post Road and West Main Street.
The Clean Water State Revolving Fund allows municipalities and quasi-public agencies to access below-market interest rate loans for projects that combat water pollution, including upgrades to or new wastewater collection system and treatment facilities, stormwater pollution prevention, and treatment facilities and stormwater best management practices.
Nancy Lavin is a staff writer for the PBN. Contact her at lavin@pbn.com.
