$20M of the bond will be for upgrades to schools, and $10M will be to improve neighborhood community centers and monies for City Hall roof and interior renovations.
Tonight the Chairman of the Providence City Council Committee on Finance, Majority Whip John J. Igliozzi of Ward Seven, and his colleagues approved the City to seek a $30M bond for school and other neighborhood infrastructure projects. In addition to schools, the bond includes monies for repairs and renovations to City Hall and neighborhood community centers.
“When the Administration put forth a proposal to take out a $20M bond for school infrastructure, I requested an immediate analysis of the cost of borrowing an additional $10M in an attractive rate environment to support other much-needed upgrades to City-owned properties,” stated Majority Whip and Chairman of the Council’s Committee on Finance John J. Igliozzi. “Working together with the Mayor and his finance team we found that the additional funds were a reasonable investment and that the rates today are better than they were when we first began this discussion. For the past year, I have been advocating to not only fix our schools but to fix our own house – City Hall. The $10M addition to the bond proposal will go towards fixing the roof of City Hall and other much-needed renovations to the historic building.”
Much of the bond is subject to the Rhode Island Department of Education Housing Aid Reimbursement program which will refund the city 82% of up to $16M of the $20M bond that is earmarked for school infrastructure improvements.
“The best investment we can make is in our youth,” said Mayor Jorge Elorza. “I am proud that we will be able to invest critical dollars into our school buildings and continue to improve public properties throughout our capital city with this bond. I thank the council members for their continued commitment to our schools and our city.”
City Council President Sabina Matos stated, “Whip Igliozzi has an understanding of the City’s financial health that is unmatched, and I’m grateful that he was able to see how the time was right for us to take this important step to not only secure our schools but to secure our other city-owned properties.”
The resolution will be sent to the full City Council for a vote and passage at their regularly scheduled February 7, 2019 meeting.
Providence City Council President Sabina Matos, Ward 15, today awarded the Downtown Providence Parks Conservancy $50K to help in the restoration of Rhode Island’s Soldiers and Sailors Monument located in Kennedy Plaza. The funding for these restoration projects were set aside by the Council during last year’s budget negotiations to address the continued maintenance of several of Providence’s historical monuments.
“The restoration and care of our City’s monuments and landmarks is an important endeavor,” stated Council President Sabina Matos. “The Soldiers and Sailors Monument is an iconic symbol of our downtown neighborhood. This funding will help the Downtown Providence Parks Conservancy to begin the much-needed work to restore this Civil War monument that stands as an honor to the ‘memory of those who died so that the Country might live.’ And I am very happy to see this work begin.”
Nearly 2,000 Rhode Islander died during the Civil War, and the Soldiers and Sailors Monument was designed by American artist Randolph Rogers to honor their sacrifice. When it was first dedicated in 1871 it was a place for the fallen soldier’s families to gather and to remember the unimaginable loss that our state’s residents suffered.
Executive Director of the Downtown Providence Parks Conservancy Cliff Wood stated, “This support from the Providence City Council comes at a critical time in the fundraising for the Soldiers & Sailors Restoration Project. The Downtown Providence Parks Conservancy thanks them for their commitment to improving and maintaining our shared public spaces and for understanding the important story told by this nationally recognized monument. A monument which lists the names of all the Rhode Islanders who fell protecting the future of our national union.”
The funding comes from the Providence City Archives who during last year’s budgeting process was awarded these funds to support the City’s landmarks including funds towards the restoration of Federal Hill’s DePasquale Plaza fountain.
From Left to Right: City Council Acting Chief of Staff James Lombardi III, Esq., City Council President Sabina Matos, City Council President Pro Tempore Michael Correia, Providence City Archivist Caleb Horton, City Council Deputy Majority Leader Mary Kay Harris, Downtown Providence Parks Conservancy Project Manager Kat Boots, and Downtown Providence Parks Conservancy and the Providence Foundation Executive Director Cliff Wood.