PROVIDENCE – The R.I. Health and Educational Building Corp. said it has closed on 12 bond financings and refinancings totaling more than $830 million in fiscal 2024.
“RIHEBC had a big impact in FY 2024, providing more than $830 million in bond financings,” said Dylan Zelazo, executive director. “From $300 million to allow Lifespan to upgrade Miriam and Rhode Island hospitals, to $130 million for facilities upgrades at Bryant University, to $290 million for public school facilities projects across the state, we are helping our state’s health and educational institutions invest in their facilities and meet their missions.”
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“Our performance in FY 2024 once again demonstrates RIHEBC’s commitment to serving our state’s health care, educational and nonprofit cultural organizations who are investing in their facilities,” said board Chairperson Channavy Chhay. “In addition to our bond financing, we were also pleased to have made over $500,000 in low-cost loans to smaller Rhode Island organizations, including the Rhode Island Computer Museum, Higher Ground International, and Justice Assistance to upgrade their facilities.”
The fiscal 2024 bond issuances included:
- $300 million for Lifespan Corp. to renovate facilities at The Miriam Hospital and Rhode Island Hospital and the purchase of an enterprise management system.
- $132.8 million for Bryant University to refund a series 2021 bond, and for the construction and repair of the leadership center, field house, residence hall, dining hall and existing facilities.
- $96.5 million for the refinancing of Brown University’s RIHEBC Series 2013 bonds, which will allow a net present value savings of $15.5 million to the university, according to RIHEBC.
- $93.5 million for new construction, furnishing and equipping of a new 123,844-square-foot Central Falls High School.
- $76.8 million for construction and renovations of Martin Middle School and Waddington Elementary School in East Providence.
- $74.1 million for the refinancing of outstanding bonds for the town of Cumberland for the construction and renovation of school facilities.
- $20 million for the renovation of schools in the city of Warwick.
- $19 million for the Rhode Island Nurses Institute Middle College Charter High School to purchase and renovate the building at 132-150 Washington St. in Providence.
- $10 million for the Trinity Academy for the Performing Arts to refinance series 2019 bonds and renovate its building at 275 Westminster St. in Providence.
- $8 million for the construction of study space and renovation of existing facilities at Portsmouth Abbey.
- $5.5 million for renovation of schools in the Exeter-West Greenwich Regional School District.
- $3.6 million for Child & Family Services of Newport County to refinance series 2015 bonds.
