Mayor Fung, State and City Officials to Tour Repairs at Edgewood Highland School

CRANSTON, RI -- A $2.2 million loan from the Rhode Island Infrastructure Bank enabled Cranston to undertake a big repair job at Edgewood Highland.

According to Evan England, communications director for the state Treasurer's office, city and state officials will tour the school tomorrow morning and inspect those repairs.

The bank used to be known as Rhode Island Clean Water Finance Agency. Under it's old name, it was in the business of providing low cost financing to upgrade municipal sewer and water services, but the General Assembly decided to give it a bigger scope. The new legislation broadened its mission "to establish and

finance newly created programs for energy efficiency and renewable energy projects in public, commercial, and residential properties," England said.

Cranston was not the only beneficiary.

England said the bank "provided $17.2 million in financing to six communities during its first round of financing." The other projects were in Pawtucket, Providence, West Warwick, Westerly and Newport.

Seth Magaziner in 2015 spearheaded the efforts to use the bank to create local jobs and save taxpayers money, he said.

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