Providence Water has received a $3 million loan from the Rhode Island Infrastructure Bank (RIIB) to offer 10-year 0% interest loans to homeowners to assist with the replacement of their private-side lead service lines. When a homeowner replaces the private portion of the lead service line, Providence Water will replace the public portion of the lead service line at no cost to the homeowner.
Here’s how the program works:
- Call our Water Quality Hotline at (401) 521-6303 to request an agreement for Providence Water’s 10-year 0% interest loan program, with a not-to-exceed price of $4,500 to replace your private-side lead service line. Under the terms of this loan, a $4,500 replacement will cost $37.50 per month.
- A contractor will be assigned to replace the private-side lead service line.
- If the contractor’s price is less than $4,500, your bill will reflect the lower fee.
- If the contractor’s price is greater than $4,500, Providence Water will pay the difference.
- After the agreement is executed, the contractor will contact you directly to arrange a date to replace the private-side lead service line.
We encourage homeowners to take advantage of this cost-effective loan opportunity as the loans are distributed on a first-come, first-serve basis. If you still have questions regarding the 10-year 0% interest loan, please contact us at (401) 521-6303 and we will be glad to assist you.
Read the full press release here.
Providence Water Lead Demonstration Video