Providence Seeking $45M for Infrastructure Repairs
The city is seeking the money without having to go to a vote
According to a report, the mayor’s office of Providence and City Council are converging on a new plan to try and borrow $45 million for an infrastructure bond. The two sides came to a disagreement a year ago over a $40 million bond.
The resolution requests $45 million on behalf of the Providence Public Buildings Authority (PPBA) to “finance the design, construction repair, rehabilitation, replacement and improvement of infrastructure in the city’s neighborhoods,” according to the report.
The resolution is sponsored by Finance Committee Chairman John Igliozzi.
“The requested financing of $45 million in funds, to be borrowed under the Providence Public Buildings Authority, will help ensure this critical work is carried out to improve streets, sidewalks, bridges and so much more,” Mayor Jorge Elorza said in a statement.
The money will be spent during the 2017-18 and 2018-19 fiscal years, and will focus on a number of projects including: recreational facility improvements, building repairs in City Hall and sewer repairs. $23.5 million will be set aside for street paving and sidewalk repairs.