Sasse Says Governor Raimondo's Bond Requests of $368.5 Are Too Rich for RI

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Sasse Says Governor Raimondo's Bond Requests of $368.5 Are Too Rich for RI

 

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Gary Sasse, The Money Man, heads the Hassenfeld Institute at Bryant University
Gary Sasse, former Director of Administration in RI, said that Governor Gina Raimondo’s requests for bond issues - school rehab, URI and RIC, and environmental bonds — are too much in borrowing for one cycle.

Sasse sites a comprehensive report issued by RI General Treasurer Seth Magaziner that recommends RI election cycle bonding should be limited to approximately $220 million.

Raimondo has proposed $368.5 million in borrowing for the school rehabs, according to the Raimondo’s’s budget:

The Governor proposes several capital budget investments for voters’ consideration in November, including:

School Rehab Funding – $250 million

Improvements to the URI Narragansett Bay Campus – $45 million Renovations are needed to sustain and adapt facility infrastructure on the Narragansett Bay Campus to elevate the Graduate School of Oceanography into the first tier of oceanographic institutions by:  Supporting the research and teaching mission of the university through improved facilities; Enhancing resiliency and ecological function through improved energy efficiency, infrastructure, land use and building consolidation.

The Narragansett Bay Campus also serves as the homeport for the GSO’s research vessel, R/V Endeavor, with a pier located on the campus waterfront. One of Bay Campus’s priorities is the operation and maintenance of the research vessel. The Endeavor will soon be retired and the operation of a larger vessel will be competitively bid by the national marine science entities. The 6 Introduction new research vessel will be a $125 million Regional Class Research Vessel, which will require an upgrade to the current pier and marine operations facilities.

Renovations of Rhode Island College’s Horace Mann Hall – $25 million Horace Mann Hall was constructed in 1969 and is home to the Feinstein School of Education and Human Development. The existing building is in need of a full renovation. With the exception of select bathroom and classroom renovations, most parts of the building are largely original to their date of construction. Green Economy and Clean Water Bond Quality of life is also a factor in spurring economic growth.

The Governor proposes a $48.5 million Green Economy and Clean Water Bond that will protect our environment, support economic development, and improve the lives of Rhode Islanders.

This bond will:  Help our state adapt to changing weather conditions, including protecting our coastline, dams, and drinking water. 

Support our small family farmers by improving access to farmland. The bond will also protect vital open space in our communities and fund our successful Brownfields program, which helps to clean up contaminated industrial sites and prepare them for redevelopment. 

Improve Rhode Islanders’ outdoor experiences, by investing in recreational facilities including updated bike paths, parks, playgrounds, and campgrounds.


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