Even with a gubernatorial transition on hold for two months, Rhode Island is moving ahead with its March 2
Voters on March 2 will decide on $400 million overall to benefit projects in transportation infrastructure, housing, educational building improvements and parks.
Outgoing Gov.
“This is different this year,” said Gary Sasse, founding director of Bryant University’s Hassenfeld Institute for Public Leadership. “The entire economy has been disrupted by the pandemic. A pretty strong case can be made for the bond issue as a package.
“Most of the $400 million deal with jobs and making the investments that factor into economic improvements. That makes me pretty bullish on the support of these bonds.”
Continued low interest rates make the borrowing viable, Sasse added.
State officials have estimated the total cost at $642 million, based on 20-year loans and a 5% interest rate. Actual rates, however could be lower.
This referendum run-up comes with the handoff from Raimondo to Lt. Gov. Dan McKee at a standstill. President Biden nominated Raimondo to the cabinet position Jan. 7 before he took office, based on her economic development thrust during her six years as governor.
The Senate is just finishing its one-week recess following its vote last Saturday not to impeach former President Donald Trump, and could take up the Raimondo confirmation the week starting Monday. The governor of late has kept a low profile, although she held a Facebook session on Wednesday to discuss the vaccines.
Some local officials, including new Cranston Mayor Ken Hopkins, have called on Raimondo to resign before the confirmation, to give McKee, a Democrat like Raimondo, a running start on vaccine coordination and other matters, including the budget.
McKee's criticism of Raimondo's team for its sluggish rollout reflects a widening rift between the two.
“Like most Rhode Islanders, I am not satisfied with the current administration’s progress on vaccine distribution, especially as we see our neighbors in Connecticut ranked among the top in the nation,” he said. “Rhode Island has much more work to do to get shots in arms quickly and efficiently."
Rhode Island is ranking low by percentage of residents who have received the first shot of a vaccine, and the percentage of vaccine doses administered.
McKee was to discuss distribution strategy this past week with Connecticut Gov. Ned Lamont and Harvard University health experts.
Woonsocket-based behemoth CVS Health has opened up vaccine sites at more of its pharmacies, and two state-run vaccination sites were scheduled to open on Thursday for residents aged 75 and older: the Dunkin’ Donuts Center in downtown Providence and the former Citizens Bank headquarters in Cranston.
Vaccines will open to residents 65 and older starting on Monday.
The bond issues include $107.3 million for renovation and modernization of the University of Rhode Island Fine Arts Center, the Rhode Island College Clarke Science Building and the Community College of Rhode Island; $74 million for state beaches, parks, recreational facilities and water projects; and $65 million of bonds for building and renovating housing projects.
Also before voters are $71.7 million for transportation infrastructure; $15 million for the early childhood care and education capital fund; $7 million for cultural arts and the economy grant program and the state preservation grants program; and $60 million to fund improvements to industrial facilities infrastructure.
“Most of the $400 million deals with jobs and making investments that factor into economic improvements,” Sasse said. “I’m pretty bullish in support of these bonds.”
State General Treasurer Seth Magaziner has launched a campaign urging passage of all seven measures, which he deemed “necessary to keep us competitive in the regional and global economy.” Across the state, Magaziner has discussed how each bond would affect cities and towns.
Early voting has begun, according to Secretary of State Nellie Gorbea’s office.
Question 4, for transportation infrastructure, would match federal funds and provide direct funding for planned improvements to the state’s transportation infrastructure, including ports, highways, roads and bridges. Rhode Island would combine that $71.7 million with $286.8 million from Washington to backstop road and bridge fixes.
The state has received low ratings nationally for its infrastructure quality — the
The tolling component, however, is still in limbo with a lawsuit filed by trucking associations will in federal court.
Question 7, for industrial facilities infrastructure, would earmark $40 million to replicate Quonset Business Park’s “site readiness” initiative throughout the state. Funds would enhance the preparation of business-ready parcels for purposes related to manufacturing and other activities. Quonset Development Corp. would administer the effort, including small grants for pre-development purposes.
The same ballot measure would provide $20 million for continued growth and modernization at the Port of Davisville — Rhode Island’s only public port — on Quonset, a peninsula in North Kingstown off Narragansett Bay.
The port is home to North Atlantic Distribution Inc., one of the largest auto importers in North America, serving as a port of entry, processing center and distribution hub for imported and domestic vehicles.
This bond would finance construction of a new pier, the rehabilitation of Pier One, built in 1941, and dredging to accommodate offshore wind project cargo coming with the Revolution Wind project.
State officials say the latter will send 400 megawatts of energy from the offshore wind farm to a new substation in Quonset before going to the state’s power grid through the Davisville substation.
“Quonset is a critical part of how we trade as a state and with the support of this new bond, Rhode Island can stay competitive in the regional and global market,” Magaziner said.
