State leaders propose creating an 'infrastructure bank'
The Associated Press
The governor and general treasurer say the state should expand the duties of a quasi-public agency to pay for energy efficiency upgrades and create jobs.
Gov. Gina Raimondo and Treasurer Seth Magaziner said Wednesday the Clean Water Finance Agency will be known as the Rhode Island Infrastructure Bank. Raimondo has proposed the necessary changes in her budget.
The agency will continue to oversee funds for clean water, drinking water and municipal road and bridge projects.
It would become responsible for a new program to help property owners pay for energy efficiency or renewable energy measures through their property taxes, and float a bond to finance energy retrofits for public buildings.
It would also lend to public and private entities for storm water projects and administer funds to clean brownfield sites.
(C) WLNE-TV 2015