reglab/statecodes huggingface dataset:
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 15 - Septic and Sewer › Part 4 - Sewer Tie-In Loan Fund Policies and Procedures (830-RICR-10-15-4) › Section 830-RICR-10-15-4.11 - Severability

Current through June 14, 2024
If any provision of these rules and regulations or the application thereof to any local government unit, person, or corporation is held invalid by a court of competent jurisdiction, the remainder of the rules and regulations shall not be affected thereby. The invalidity of any section or sections or parts of any section or sections shall not affect the validity of the remainder of these rules and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.1 - Purpose

Current through June 14, 2024
The within Loan Policies and Procedures of Rhode Island Infrastructure Bank (the "Bank") have been established to govern the lending activities of the Municipal Road and Bridge Revolving Fund in accordance with R.I. Gen. Laws Chapter 24-18 as amended.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.2 - Definitions

Current through June 14, 2024
Except as otherwise defined herein, the words and phrases used within these Loan Policies and Procedures have the same meaning as the words and phrases have in R.I. Gen. Laws Chapter 24-18 as amended.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.3 - Financial Assistance

Current through June 14, 2024
These policies and procedures govern the provision of financial assistance to cities and towns and other eligible Borrowers to make capital improvements to road, bridges and appurtenances thereto, in the form of loans with below market interest rates or interest rate subsidies which reduce the cost of financing eligible projects in an amount equivalent to one third (1/3) of the Borrower's market rate or such other subsidy assistance as determined by the Bank. Financially distressed local governmental units may receive enhanced financial assistance as long as these loans do not have an adverse effect on other participants in the loan programs of the Bank; bond holders; other creditors of the Bank; or the financials of the Bank.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.4 - Loan Application

Current through June 14, 2024
A. Requests for financing should be submitted in writing by the Chief Executive Officer or other authorized official of the Borrower to the Executive Director of the Bank. The written request shall include:
1. A description of the project to be financed with the projected construction and completion schedule. In the case of a refinancing, a description of the completed project and the terms and source of previous financing.
2. A description of the dedicated source of loan repayment, i.e., general revenues of cities and towns or other source of revenue acceptable to the Bank.
3. A description of the overall operations of the Borrower, including but not limited to the most recent annual report or audited financials, with an emphasis on:
a. Legal structure;
b. Management;
c. Sources of revenues;
d. Operating expenses;
e. Operating surpluses or deficits;
f. Actual results versus budget; and
g. Sources of financial liquidity.
4. Legal authority or authorities to construct, finance and operate the project.
5. The past five years Audited Financial Statements in accordance with Generally Accepted Government Accounting Standards or Generally Accepted Accounting Principals; or other historical financial information that the Bank deems appropriate.
6. Financial and demographic information.
7. For revenue bonds, financial projections over the life of the financing showing sources of revenues, operating expenses, capital replacement reserves, user fee impact analysis, and cash available for debt service.
8. Such other information as the Bank may reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.5 - Loan Approval Process

Current through June 14, 2024
A. Loan approvals are subject to the following terms:
1. That all projects to be funded appear on the Rhode Island Department of Transportation ("RIDOT") Project Priority List;
2. That the loan comply with all federal, state and Bank laws, rules and regulations;
3. That the loan and debt service requirements be approved by any applicable regulatory Agency;
4. That a satisfactory loan agreement be signed by all parties to the transaction.
5. That the loan will be made subject to availability of funds as related to the Bank's capacity; and that the loan will be made subject to ranking on RIDOT's Project Priority List;
6. The Bank will conduct a financial analysis for each loan application which may include, but not limited to:
a. Sources of revenue and financial liquidity;
b. Historical and projected financial operating results;
c. Present and future debt service requirements;
d. Impact of dedicated user fees and/or general revenues;
e. Cost of the project and estimated completion schedule;
f. Long term capital replacement planning;
g. Socioeconomic conditions and trends;
h. Management qualifications and experience;
i. Effects of legal structure and any regulator control;
j. The useful life of the project as determined by RIDOT; and
k. Any other information that the Bank or its Board of Directors may require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.6 - Terms and Conditions

Current through June 14, 2024
A. Borrowing Rate - Pursuant to R.I. Gen. Laws Chapter 24-18, the Bank will make loans for approved, eligible projects at a rate of interest that is reduced from the Borrower's market rate. The amount of subsidy assistance (the "Subsidized Interest Rate") shall be in an amount equivalent to one third (1/3) of the Borrower's market rate or such other subsidy assistance as determined by the Bank. Interest is to be calculated on the basis of a three hundred sixty (360) day year and twelve (12) thirty (30) day months on the outstanding loan balance, paid semi-annually on March 1st and September 1st, and may be capitalized during construction. Borrowers will be contractually liable for the Market Rate on the Loan but will be billed only for the Subsidized Interest Rate. In the event of a default by the Borrower or other Borrowers in the MRBRF program, the Bank may bill the Borrower for the Market Rate.
B. Loan Fees - The Bank will charge an Origination Fee of one percent (1.0%) of the principal amount of the loan at closing with a minimum of one thousand dollars ($1,000). All out of pocket closing costs, i.e. Borrowers cost of issuance, Bank cost of issuance, Bank underwriting cost, and other closing costs, will be paid by the Borrower. The Bank will also charge an annual Service Fee of one half of one percent (0.50%) of the outstanding principal payable semi-annually at each interest payment date. A late payment fee will be charged for every fifteen (15) days that a payment is late of five percent (5.0%) of the amount of the payment.
C. Amortization - Amortization will begin within one year after completion of construction and one year after closing for a refinancing. Principal payments will be made annually on September 1st and the schedule of payments will be structured to meet the debt service and financial assistance needs of the Borrower.
D. Final Maturity - Loans funded from the Municipal Road and Bridge Fund may mature up to the duration of the useful life determination of the project by RIDOT. The final maturity of a loan will be a factor in determining the level of financial assistance to a Borrower.
E. Prepayments - A loan may be prepaid by the Borrower at any time but may be subject to a prepayment penalty based on the cost of reinvesting the prepayment, the cost of prepaying outstanding bonds of the Bank or any other negative financial impact to the Bank.
F. Security - Loans will have a pledge of:
1. General revenues and/or other dedicated revenues of the Borrower; and
2. May be secured by any other assets and upon such other terms and conditions as the Bank deems appropriate to protect the interests of the other participants in the loan programs of the Bank; bondholders; other creditors of the Bank; or the finances of the Bank.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.7 - Reporting Requirements

Current through June 14, 2024
A. Borrowers will be required to provide information to the Bank during the life of the loan, including, but not limited to:
1. A copy of its Annual Audited Financial Statements in accordance with Generally Accepted Government Accounting Standards, annually within (9) nine months of end of fiscal year.
2. An annual analysis of Operating Revenues and Expenses with an emphasis on the status of the dedicated revenues and/or general revenues securing the Borrower Bond and operating expenses in excess of budget, annually within nine (9) months of the end of fiscal year if the Borrower Bond is not a general obligation Bond. If the Borrower Bond is a general obligation bond, paid from ad valorem taxes, unless included as a part of the annual budget, an analysis of municipal operating revenues and expenses and a comparison for the respective period, annually within nine months of the end of the fiscal year.
3. A copy of the annual budget of the Borrower, within fifteen (15) days of its adoption.
4. An annual schedule of current and projected short term and long term debt service.
5. An annual schedule of Capital Replacement Reserves.
6. Copies of reports submitted to RIDOT, the U.S. Department of Transportation, and any other regulatory agency relating to the projects financed.
7. During the construction period, an accounting of the monthly disbursements relating to the project.
8. Other information or reports that the Bank deems appropriate.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.8 - Loan Agreements

Current through June 14, 2024
There will be a Loan Agreement for each approved loan outlining the terms and conditions of the Bank's loan. The Loan will be evidenced by a general obligation pledge, pledge of other dedicated revenues, note(s) and/or bond(s) in "fully marketable form" or some other source of security deemed appropriate by the Bank.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.9 - Compliance with State and Federal Law

Current through June 14, 2024
The Borrower must comply with all applicable state laws and regulations. Recipients of loans from the MRBRF must also comply with all requirements of and regulations and guidance issued thereunder in addition to any other applicable federal laws and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.10 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, waiver or variation of any provisions herein may be made or additional requirements may be added.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 20 - Roads and Bridges › Part 1 - Municipal Road And Bridges Revolving Fund Loan Policies And Procedures › Section 830-RICR-10-20-1.11 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to any local governmental unit, person, or corporation is held invalid by a court of competent jurisdiction, the remainder of this Part shall not be affected thereby. The invalidity of any section or sections or parts of any section or sections shall not affect the validity of the remainder of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.1 - Purpose and Authority

Current through June 14, 2024
The within Policies and Procedures of Rhode Island Infrastructure Bank (the "Bank") have been established to govern the financing activities of the Brownfields Revolving Loan Fund in accordance with R.I. Gen. Laws Chapter 23-19.16 (the "Brownfields RLF Act").
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.2 - Definitions

Current through June 14, 2024
The words and phrases used within these Policies and Procedures have the same meaning as the words and phrases in R.I. Gen. Laws Chapter 23-19.16.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.3 - Financial Assistance

Current through June 14, 2024
The objective of these Policies and Procedures is to provide the terms of financing available to eligible borrowers for the remediation of brownfield sites. Financial assistance will be determined on a project by project basis depending on the risk and term of the loan.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.4 - Application for Financing

Current through June 14, 2024
A. Requests for financing should be submitted in writing by the Chief Executive Officer of the eligible borrower to the Executive Director of the Bank. The written request must include:
1. A description of the project(s) to be financed with the projected construction and completion schedule.
2. A description of the source of repayment (i.e. general revenues of cities and towns; appropriations pledges; site revenues; redevelopment financing; or other repayment source that is secured by the Borrower).
3. A description of the overall operations of the eligible borrower with an emphasis on:
a. Legal structure;
b. Management;
c. Sources of revenues;
d. Operating expenses;
e. Operating surpluses or deficits;
f. Actual results versus budget; and
g. Sources of financial liquidity.
4. Legal authority or authorities to construct, finance and operate the project.
5. Audited Financial Statements in accordance with General Accepted Accounting Standards for the previous five years.
6. Financial and demographic information, if a governmental unit.
7. Copies of contracts with the vendors that will complete site remediation, if available.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.5 - Approval Process

Current through June 14, 2024
A. In accordance with the Brownfields RLF Act, approvals for financial assistance are subject to the project(s) being listed on the project priority list established by the Rhode Island Department of Environmental Management. Projects not listed on the project priority list shall not be eligible for financial assistance from the Brownfields Revolving Loan Fund. The Bank shall use the project priority list to determine the order in which financial assistance shall be awarded. The Bank will conduct a financial analysis for each application which will take into consideration factors including, but not limited to:
1. Sources of revenue and financial liquidity;
2. Historical and projected financial operating results;
3. Present and future debt service requirements;
4. Impact of dedicated user fees and/or general revenues;
5. Cost of the project and completion schedule;
6. Long term capital replacement planning;
7. Socioeconomic conditions and trends;
8. Management qualifications and experience;
9. Redevelopment status of property in question; and
10. Effects of legal structure and any regulator control.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.6 - Terms and Conditions

Current through June 14, 2024
A. Interest/Pricing: Financial assistance may include market interest rates, below market interest rates, interest rate subsidies or other credit enhancements which reduce the cost of financing eligible projects. Interest rates will be determined by the Board of Directors on a project by project basis depending on the risk and term of the loan. Interest is to be calculated on the basis of a 360 day year and twelve 30 day months on the outstanding loan balance, paid semi-annually on March 1st and September 1st and may be capitalized during construction
B. Fees: The Bank may charge an Origination Fee at the time of loan closing. All out of pocket closing costs (i.e. Borrower's cost of issuance, Bank cost of issuance, Bank underwriting costs and any other closing costs) will be paid by the Borrower. The Bank will also charge an annual Service Fee payable semi-annually at each interest payment date. A late payment fee will be charged for every 15 days that a payment is late.
C. Amortization: Amortization will begin within one year after completion of construction and one year after closing for a refinancing. Principal payments will be made annually on September 1st. An alternative repayment schedule may be proposed by the Bank after consultation with the Borrower.
D. Term/Final Maturity: The length of the term of financial assistance awarded shall be determined by the Bank in consultation with the Borrower.
E. Prepayments: The loan may be prepaid by the Borrower at any time, but may be subject to a prepayment penalty based on the cost of reinvesting the prepayment, the cost of prepaying outstanding bonds of the Bank or any other negative financial impact to the Bank.
F. Security: Loans will have a pledge of:
1. For governmental borrowers:
a. An appropriations pledge;
b. A general revenues pledge; or
c. May be secured by any other assets or pledges of the Borrower and upon such other terms and conditions as the Bank deems appropriate to protect the interests of the other participants in the Brownfields Revolving Loan Fund of the Bank; bondholders; other creditors of the Bank; or the finances of the Bank.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.7 - Reporting Requirements

Current through June 14, 2024
A. Borrowers will be required to provide information to the Bank during the life of the loan including, but not limited to, the following:
1. A copy of the Borrower's Annual Audited Finance Statements in accordance with Generally Accepted Accounting Standards, annually within 180 days of the end of the fiscal year;
2. A copy of the Borrower's annual budget, within fifteen days of its adoption;
3. An annual schedule of current and projected short term and long term debt service;
4. An annual schedule of Capital Replacement Reserves;
5. Copies of reports submitted to the Rhode Island Department of Environmental Management, and any other regulatory agency relating to the projects financed;
6. During the construction period, an accounting of the monthly disbursements relating to the project; and
7. Other information or reports that the Bank deems appropriate.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.8 - Loan/Financing Agreements

Current through June 14, 2024
There will be a Loan/Financing Agreement for each approved loan outlining the terms and conditions of the loan.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.9 - Compliance with Federal, State, and Local Law

Current through June 14, 2024
Recipients of loans must comply with all applicable federal, state, and local laws and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 25 - Environment › Part 1 - Policies and Procedures for the Brownfields Revolving Loan Fund (830-RICR-10-25-1) › Section 830-RICR-10-25-1.10 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, waiver or variation of any provisions herein may be made or additional requirements may be added.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.1 - Purpose and Scope

Current through June 14, 2024
The following Policies and Procedures of Rhode Island
					 Infrastructure Bank (the "Bank") have been established to govern the provision of
					 financial assistance from the Municipal Infrastructure Grant Program ("MIG") to
					 applicants for municipal infrastructure improvement projects. Grants from the MIG
					 will help to assist Rhode Island's cities and towns to advance projects that support
					 job creation and expansion, housing development and rehabilitation, and community
					 development projects. Projects should be targeted to areas or districts that
					 municipalities have determined are best suited to efficiently accommodate future
					 growth and redevelopment, with a focus on previously developed areas with some level
					 of existing or planned infrastructure.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.2 - Authority

Current through June 14, 2024
These Rules and Regulations are promulgated pursuant to the
					 authority provided by R.I. Gen. Laws §§
										42-11.4-4 and
					  46-12.2-4.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.3 - Definitions

Current through June 14, 2024
A. Except as otherwise defined herein, the words
				 and phrases used within this Part shall have the same meaning as the words and
				 phrases in R.I. Gen Laws § 4612.2-2, as amended.
B. For the purposes of this Part, the following
				 terms are defined as follows:
1. "Approved project"
				 shall have the same meaning as in R.I. Gen. Laws §
											46-12.2-2.
2. "Applicant" means any local governmental unit
				 or joint application of two (2) or more local governmental units as defined in R.I.
				 Gen. Laws § 4612.2-2.
3. "Executive
				 director" means the Executive Director of Rhode Island Infrastructure Bank or his or
				 her designee(s).
4. "Division" means the
				 Rhode Island Division of Statewide Planning.
5. "In-kind services" means a non-cash
				 contribution of value provided by the applicant, including but not limited to the
				 value of personnel, goods, or services provided by the Applicant.
6. "Municipal infrastructure project" or "project"
				 means any project, including but not limited to, design, construction, existing
				 structure or land acquisition, rehabilitation, repair and other improvements to
				 publicly-owned infrastructure.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.4 - Financial Assistance

Current through June 14, 2024
A. These Policies and
				 Procedures govern the provision of financial assistance available to applicants for
				 municipally-related infrastructure projects. Financial assistance shall be in the
				 form of grants in amounts as determined by the Bank in consultation with the
				 Division. At the discretion of the Bank, applications submitted by financially
				 distressed applicants may receive priority consideration. In determining those
				 applicants which qualify as "financially distressed,"? the Bank may consider the
				 criteria set forth in R.I. Gen. Laws §§
										45-13-12(b)(1) through (4)  as
				 amended.
B. Requests for financial
				 assistance shall be submitted in writing by the Chief Executive Officer or other
				 authorized officer of the applicant to the Executive Director of the Bank in
				 accordance with the open solicitation process pursuant to R.I. Gen. Laws §
										42-11.4-3.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.5 - Permitted Projects and Eligible Costs

Current through June 14, 2024
A. Permitted Project
				 Categories
1. The following categories of projects
				 will be considered, either alone or in combination, and include but are not limited
				 to:
a. Design, construction, existing structure or
				 land acquisition, rehabilitation, repair, and other improvements to publicly owned
				 infrastructure, which may include but is not limited to sewers, utility extensions,
				 streets, roads, curb-cuts, parking, water-treatment systems, telecommunications
				 systems, transit improvements, and pedestrian ways that assist municipalities to
				 advance projects that support job creation and expansion, housing development and
				 rehabilitation, and community development projects. Projects should be targeted to
				 areas or districts that municipalities have determined are best suited to
				 efficiently accommodate future growth and redevelopment, with a focus on previously
				 developed areas with some level of existing or planned infrastructure.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.6 - Grant Application amp; Review

Current through June 14, 2024
A. The grant application
				 shall be in a form acceptable to the Bank as prescribed in any open solicitation
				 period.
B. The Bank shall review and
				 approve all grant applications after consultation with the Division.
C. Each proposed project application submitted in
				 an open solicitation period shall be reviewed, scored, and ranked based upon a range
				 of criteria which shall be applied so as to promote the goals and requirements of
				 R.I. Gen. Laws § 4211.4-1,
et seq.
and these Regulations,
				 including but not limited to:
1. A minimum project
				 readiness standard as identified by the Bank in the open solicitation
				 period;
2. Overall spending targets by
				 project type;
3. Time line and budget
				 for the proposed project;
4. Economic
				 development potential;
5. Leveraged
				 private investment;
6. Proposal
				 quality;
7. Alignment with the State's
				 prevailing economic development plan; and
8. Other criteria as identified by the Bank during
				 the open solicitation period.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.7 - Grant Reporting Requirements

Current through June 14, 2024
A. Following an award,
				 Applicants shall provide information to the Bank regarding the project that
				 satisfies the reporting requirements of R.I. Gen. Laws § 42-11.45, or as
				 otherwise requested by the Bank.
B.
				 Successful Applicants shall provide the Bank with other information or reports as
				 and when the Bank may reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.8 - Grant Agreements

Current through June 14, 2024
There will be a Grant Agreement for each award of approved
					 financial assistance outlining the terms and conditions of the grant, as
					 applicable.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.9 - Compliance with Federal, State and Local Law

Current through June 14, 2024
The Applicant must comply with all applicable Federal, State and
					 local laws and Regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.10 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, waiver or variation of any
					 provisions herein may be made or additional requirements may be
					 added.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 30 - Municipal Infrastructure Grant Program › Part 1 - Municipal Infrastructure Grant Program Policies and Procedures › Section 830-RICR-10-30-1.11 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to any
					 local governmental unit, person, or corporation is held invalid by a court of
					 competent jurisdiction, the remainder of this Part shall not be affected thereby.
					 The invalidity of any section or sections or parts of any section or sections shall
					 not affect the validity of the remainder of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.1 - Jointly Promulgated Regulation

Current through June 14, 2024
Rhode Island Infrastructure Bank, Rhode Island Coastal
					 Resources Management Council, and Rhode Island Department of Environmental
					 Management jointly promulgate 830-RICR-10-35-1, "Rules and Regulations
					 for Ocean State Climate Adaptation and Resilience Fund".
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.2 - Purpose and Scope

Current through June 14, 2024
The following Policies and Procedures of Rhode Island
					 Infrastructure Bank (the "Bank"), Rhode Island Coastal Resources Management
					 Council (the "Council"), and Rhode Island Department of Environmental
					 Management (the "Department") have been established to govern the award of
					 grants from the Ocean State Climate Adaptation and Resilience Fund ("OSCAR") in
					 accordance with R.I. Gen. Laws §
										46-23.3-1, et seq. to applicants
					 for adaptation and resilience projects on public lands. Grants from OSCAR will
					 advance projects on public land that protect or enhance coastal or riverine
					 habitats to address climate change impacts.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.3 - Authority

Current through June 14, 2024
These rules and regulations are promulgated pursuant to
					 the authority provided by R.I. Gen. Laws §
										46-12.2-4 and §46-23.3-7.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.4 - Definitions

Current through June 14, 2024
A. Except as otherwise defined herein, the
				 words and phrases used within this Part shall have the same meaning as the
				 words and phrases in R.I. Gen Laws §
										46-23.3-2, as amended.
B. For the purposes of this Part, the
				 following terms are defined as follows:
1.
				 "Approved Project" means an eligible adaptation and resilience project as
				 defined in R.I. Gen. Laws §
											46-23.3-2(1)  and
				 approved by the Department and the Council pursuant to R.I. Gen. Laws §
											46-23.3-6(a).
2. "Applicant" means any entity which owns or
				 controls public land as defined by R.I. Gen. Laws §
											46-23.3-2(8) 
				 which files an application for an OSCAR grant.
3. "Successful Applicant" means an Applicant
				 for an Approved Project that is awarded an OSCAR grant.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.5 - Grant Awards

Current through June 14, 2024
A. These Policies
				 and Procedures govern the award of grants to Applicants for adaptation and
				 resilience projects. Grants shall be awarded in amounts as determined by the
				 Council and the Department to be distributed by the Bank.
B. Requests for grants shall be submitted in
				 writing by the Chief Executive Officer or other authorized officer of the
				 Applicant to the Council and the Department in accordance with the open
				 solicitation process pursuant to R.I. Gen. Laws §
										46-23.3-6.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.6 - Permitted Projects and Eligible Costs

Current through June 14, 2024
A. Permitted
				 Projects shall include those defined in R.I. Gen. Laws §§
										46-23.3-2 and
				  46-23.3-5.
1. The following categories of projects will
				 be considered, either alone or in combination, and include but are not limited
				 to projects on public land that protect or enhance coastal or riverine habitats
				 to address climate change impacts. These include, but are not limited to:
a. Projects that reduce the vulnerability of
				 low-lying infrastructure on public land through measures that include removal
				 and relocation of infrastructure.
b. Restoration of river and stream
				 floodplains, including regrading of banks.
c. Revegetation.
d. Acquisition of that area of land necessary
				 to maintain and preserve public access.
e. Redesigning, resizing, and replacing
				 culverts and bridge spans at existing wetland crossings.
f. Additional adaptation and resilience
				 projects deemed to be eligible under R.I. Gen. Laws §
												46-23.3-5.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.7 - Grant Application and Review

Current through June 14, 2024
A. The grant
				 application shall be in a form acceptable to the Council and the Department as
				 prescribed in any open solicitation period which shall occur at least
				 annually.
B. The Council and the
				 Department shall review and approve all eligible grant applications after
				 consultation with the Technical Advisory Committee established in R.I. Gen.
				 Laws §
										46-23.3-3.
C. Applications shall be reviewed based upon
				 the criteria established in R.I. Gen. Laws §
										46-23.3-4(d); and
				 other factors set forth by the Council and Department during the open
				 solicitation period.
D. Following
				 recommendation by the Technical Advisory Committee and approval by the Council
				 and Department, the Council and Department shall notify the Bank of the
				 Approved Project(s) from the open solicitation period and the Bank shall,
				 subject to the funds available within OSCAR, award funding to the Successful
				 Applicants.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.8 - Grant Reporting Requirements

Current through June 14, 2024
A. Following an
				 award, Successful Applicants shall provide information to the Bank, Council,
				 and Department regarding the Approved Project that satisfies the reporting
				 requirements of R.I. Gen. Laws §
										46-23.3-6, and/or as otherwise
				 requested by the Bank, Council, and/or Department.
B. Successful Applicants shall provide the
				 Bank, Council, and/or Department with other information or reports as and when
				 the Bank may reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.9 - Grant Agreements

Current through June 14, 2024
There will be a Grant Agreement for each award of approved
					 financial assistance outlining the terms and conditions of the grant, as
					 applicable.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.10 - Compliance with Federal, State and Local Law

Current through June 14, 2024
The Applicant must comply with all applicable federal,
					 state and local laws and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.11 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, Council, and
					 Department, waiver or variation of any provisions herein may be made or
					 additional requirements may be added, provided however that any waiver, or
					 variation is consistent with R.I. Gen. Laws §43-23.3-1 et
					 seq.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 35 - Ocean State Climate Adaptation and Resilience Fund › Part 1 - Ocean State Climate Adaptation and Resilience Fund Policies and Procedures › Section 830-RICR-10-35-1.12 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof
					 is held invalid by a court of competent jurisdiction, the remainder of this
					 Part shall not be affected thereby. The invalidity of any section or sections
					 or parts of any section or sections shall not affect the validity of the
					 remainder of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 40 - Municipal Resilience Program › Part 1 - Municipal Resilience Program Policies and Procedures › Section 830-RICR-10-40-1.1 - Purpose and Scope

Current through June 14, 2024
The within Policies and Procedures of Rhode Island
					 Infrastructure Bank (the "Bank") have been established to govern the provision
					 of financial assistance from the Municipal Resilience Program ("MRP") to
					 applicants for resiliency related infrastructure projects. Grants and loans
					 from the MRP will help to identify top hazards, improve community resiliency,
					 and strengthen public safety in the face of increased flooding, rising sea
					 levels, more frequent and intense storm events, and warming air and water
					 temperatures.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 40 - Municipal Resilience Program › Part 1 - Municipal Resilience Program Policies and Procedures › Section 830-RICR-10-40-1.2 - Authority

Current through June 14, 2024
These rules and regulations are promulgated pursuant to
					 the authority provided by R.I. Gen. Laws §
										46-12.2-4.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 40 - Municipal Resilience Program › Part 1 - Municipal Resilience Program Policies and Procedures › Section 830-RICR-10-40-1.3 - Definitions

Current through June 14, 2024
A. Except as otherwise defined herein, the
				 words and phrases used within this Part shall have the same meaning as the
				 words and phrases in R.I. Gen Laws §
										46-12.2-2, as amended.
B. For the purposes of this Part, the
				 following terms are defined as follows:
1.
				 "Approved project" shall have the same meaning as in R.I. Gen. Laws §
											46-12.2-2.
2. "Applicant" or "Borrower" means any local
				 governmental unit as defined in R.I. Gen. Laws §
											46-12.2-2.
3. "Executive Director" means the Executive
				 Director of Rhode Island Infrastructure Bank or his or her
				 designee(s).
4. "In-kind services"
				 means a non-cash contribution of value provided by the applicant, including but
				 not limited to the value of personnel, goods, or services provided by the
				 Applicant.
5. "Resiliency related
				 infrastructure project" or "Project" means any project, including but not
				 limited to, restoring and/or improving the resiliency of infrastructure,
				 vulnerable coastal habitats, river and stream floodplains, and
				 watersheds.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 40 - Municipal Resilience Program › Part 1 - Municipal Resilience Program Policies and Procedures › Section 830-RICR-10-40-1.4 - Financial Assistance

Current through June 14, 2024
A. These Policies
				 and Procedures govern the provision of financial assistance available to
				 applicants for resiliency related infrastructure projects. Financial assistance
				 may include grants, loans, below market interest rates, interest rate subsidies
				 or other credit enhancements which reduce the cost of financing eligible
				 projects. The amount of subsidy, if any, shall be determined by the Bank. At
				 the discretion of the Bank, financially distressed Borrowers may receive
				 financial assistance with a higher amount of subsidy as long as the additional
				 subsidy does not have an adverse effect on other participants in the MRP; bond
				 holders; other creditors of the Bank; or the finances of the Bank. In
				 determining those Borrowers which qualify as "financially distressed", the Bank
				 may consider the criteria set forth in R.I. Gen. Laws §§
										45-13-12(b)(1) through
				 (4)  as amended.
B. Requests for financial assistance shall be
				 submitted in writing by the Chief Executive Officer or other authorized officer
				 of the applicant to the Executive Director of the Bank pursuant to the
				 applicable requirements of §§2.6 or
				 2.7 of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 40 - Municipal Resilience Program › Part 1 - Municipal Resilience Program Policies and Procedures › Section 830-RICR-10-40-1.5 - Project Categories and Eligible Costs

Current through June 14, 2024
A. Applications for
				 funds to support resiliency related infrastructure planning processes will not
				 be considered. Resiliency related infrastructure project planning processes
				 that have identified possible resiliency related infrastructure projects should
				 be substantially completed before the project state date.
B. Resiliency related infrastructure projects
				 whose primary purpose is to undertake scientific research, data analyses or
				 vulnerability assessments will not be considered. However, funds can be
				 utilized for data collection as part of monitoring activities to track progress
				 and determine the effectiveness of the implemented resiliency related
				 infrastructure project.
C.
				 Resiliency related infrastructure projects must show a clear nexus between
				 climate change impacts being experienced in Rhode Island communities and the
				 proposed project benefits.
D.
				 Project Categories.
1. The following
				 categories of projects will be considered either alone or in combination:
a. Removal, Relocation or Redesign of
				 Infrastructure - engineering and construction projects to redesign, relocate or
				 remove vulnerable facilities and infrastructure (e.g., culverts, dams,
				 buildings/facilities, roadways/evacuation routes in both coastal and riverine
				 areas) to protect and preserve function over the design life of the
				 infrastructure or eliminate risk by removing the structure, given projected
				 climate change impacts (e.g. increasing precipitation, sea level rise and
				 increasing temperatures).
b.
				 Nature-Based Solutions - projects that protect or enhance Rhode Island's
				 natural systems in the face of projected climate change impacts. Projects can
				 include green infrastructure projects that utilize vegetation and pervious
				 surfaces to manage coastal, riverine, and inland flooding, erosion and storm
				 damage. Projects can also include the restoration of natural shorelines and
				 riparian habitats so as to enhance the protection of communities.