Providence seeking $40M in bonds for infrastructure funding

PROVIDENCE MAYOR JORGE O. ELORZA says he will seek to get voter approval for a $40 million bond to invest in infrastructure throughout the city.  / PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS
PROVIDENCE MAYOR JORGE O. ELORZA says he will seek to get voter approval for a $40 million bond to invest in infrastructure throughout the city. / PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS

PROVIDENCE – The city of Providence will seek a $40 million Neighborhood Infrastructure Bond to make investments in infrastructure and build stronger neighborhoods, Mayor Jorge O. Elorza announced Thursday.
“Making the necessary long-term investments in our infrastructure is an essential component of building stronger and more vibrant neighborhoods across Providence,” said Elorza. “The Neighborhood Infrastructure Bond will work to improve every neighborhood, and will continue to lay the foundation for a long-term capital improvement plan that invests in repairing our streets, sidewalks, parks, recreation facilities and other critical infrastructure.”
The bond will secure $40 million to invest in infrastructure in every neighborhood in the capital, continuing the city’s road and sidewalk resurfacing program and investing in areas that lack long-term investment plans, including parks, public spaces and recreation facilities.
Following City Council approval, the bond will go before Providence voters in November’s general election.
“I look forward to working in collaboration with my colleagues on the City Council to pass this ordinance, and to presenting this proposal to the residents and voters of Providence,” said Elorza.
Providence already has received $10 million in funding for capital improvements to its school buildings for this summer through the R.I. Health and Education Building Corp. School Building Authority Capital Fund.
Elorza’s predecessor in City Hall, Angel Taveras, floated a $40 million bond that was used for road repair and replacement.

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