Providence Seeks $40 Million Bond for Stronger Neighborhoods, Infrastructure

Providence Seeks $40 Million Bond for Stronger Neighborhoods, Infrastructure

The City of Providence plans to seek a $40 million Neighborhood Infrastructure Bond to make investments and build stronger neighborhoods throughout Providence, Mayor Elorza announced on Thursday. 

"Making the necessary long term investments in our infrastructure is an essential component of building stronger and more vibrant neighborhoods across Providence. 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,” said Elorza. 

The Bond

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The bond will invest $40 million in infrastructure improvements to every neighborhood in the city and will continue the city's road and sidewalk re-surfacing program. 

“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,” added Mayor Elorza.

Following city council approval, the bond will then go before Providence voters for approval during the upcoming general election in November. 

The city has already secured $10 million for capital improvements to its school buildings for this summer through the Rhode Island Health and Education Building Corporation School Building Authority Capital Fund.