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CHAFEE BUDGET: $11.2 Million for ‘Shovel-Ready’ Programs

Thursday, January 17, 2013

 

In an attempt to bring down the state’s unemployment rate and “stimulate construction activity”, not to mention invest in state infrastructure, Governor Chafee’s budget calls for an $11.2 million allocation from Rhode Island Capital Funds for projects determined to be “shovel-ready.”

According to Chafee’s budget proposal, the Capital Development, Planning and Oversight Commission has identified $11.2 million of programs that fit that moniker that could be moved forward in the current capital improvement plan and the state already annual appropriates, but fails to spend, millions of dollars from the fund due to project delays.

The Governor’s proposal would add $2.2 million to URI’s Asset Protection project, $1.2 million to the Judicial Agencies’ Judicial Complexes-HVAC project, $1.1 million to URI’s Fire Safety & Protection Academic and Administration project and another $1.0 million to the Department of Administration’s Pastore Power Plant Rehabilitation project.

In all, the funds would bring total spending on such projects from the currently-budgeted $19.5 million to a revised total of $30.6 million.

The governor also proposed $10 million in financing for a Local Roads and Streetscape Program in the 2014 fiscal year.

Under this plan, local roads would be improved through a “streamlined process” to allow local communities to select the roads most in need of resurfacing and to implement these projects on the local level.

Further, the funding for the program would be formula driven based on mileage within each municipality, with a minimum of $100,000 going to each of Rhode Island’s 39 cities and towns.

According to Chafee’s budget proposal, the $10.0 million comes from premiums received on the 2012 general obligation bond issuance.”

 

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