PROVIDENCE – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses and homeowners, has closed on a $150,000 loan to allow the city of Warwick to continue its low-interest loan program for eligible homes to tie into the local sewer system and abandon outdated septic and cesspool systems.
“Phasing out old septic tanks and cesspools is an important step to improving our environment, but the cost for homeowners to tie into local sewer systems can be prohibitive,” said Infrastructure Bank Executive Director William Fazioli. “That is why we are pleased to provide this $150,000 in Sewer Tie-In Loan Fund financing to the city of Warwick so they can continue to make low-interest loans to eligible homeowners to connect to the city’s sewer system. This is a win-win, with improvements for homeowners and for the environment.”
“Warwick has been making real progress extending sewer service to more neighborhoods across the city, but the cost of tying into the system can be difficult for many homeowners,” said Mayor Frank Picozzi. “We want to thank the team at Rhode Island Infrastructure Bank for working with us to close on this $150,000 loan that will allow us to continue our low-interest sewer tie-in loan program. With these funds, we will continue to make progress towards having more Warwick homes transition away from septic tanks and cesspools and tie into our sewer system, which will in turn improve the health of our environment.”
