PROVIDENCE – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses and homeowners, closed on a $26.3 million Drinking Water State Revolving Fund loan for Providence Water to continue its Accelerated Lead Service Line Replacement Program.
The loan, provided in partnership with the R.I. Department of Health, includes $12.8 million in grant money, meaning only $13.5 million of that $26.3 million needs to be repaid.
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Since 2021, Providence Water – Rhode Island’s largest water utility – has replaced approximately 3,000 lead service lines within its service area using a combination of federal grant, loan and state funding, according to Ateesh Chanda, chairman of the Providence Water Supply Board.
“Our Accelerated Lead Service Line Replacement Program is making real progress removing old private side lead service lines from our customers’ homes,” Chanda said. “This additional $26.3 million in Infrastructure Investment and Jobs Act funding will allow us to continue this important work.”
Providence Water provides drinking water to 600,000 Rhode Islanders in more than a dozen communities through wholesale distribution, with more than 75,000 direct retail customers in Providence, North Providence, Cranston, Johnston and Smithfield.
Ricky Caruolo, general manager of Providence Water, said the $26.3 million in funding will help hundreds of more customers replace their private-side lead service lines at no cost, keeping in line with the utility’s motto of “Lead free is the way to be.”
William Fazioli, executive director of the Rhode Island Infrastructure Bank, noted that it’s now the second year in a row that the infrastructure bank has provided a loan of this size for the utility’s line replacement program.
“That is a demonstration of quickly and efficiently putting federal Infrastructure Investment and Jobs Act funding to work to remove lead pipes and improve public health,” Fazioli said.
Dr. Jerry Larkin, director of the R.I. Department of Health, stressed the importance of removing lead from Rhode Island’s pipelines for the betterment of public health.
“There is no safe level of lead, and that is why this funding for Providence Water’s Accelerated Lead Service Line Replacement Program is so important,” Larkin said. “Removing a potential source of lead, at no cost to eligible property owners, is a major public health win.”
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
