The Municipal Road and Bridge Revolving Fund (MRBRF) is a program through which local governmental units can access affordable, long-term financing for transportation infrastructure projects.
How It Works
- Eligible projects include capital improvements to roads and bridges, and associated works, such as sidewalks
- Loans made through the MRBRF may be repaid over a period of up to 20 years and can be structured to meet the repayment abilities unique to each borrower
- Interest is subsidized at 33% below the borrower’s market rate
- Projects are awarded financing based on their ranking on the R.I. Department of Transportation's Project Priority List, readiness to proceed and subject to credit approval and the availability of funds
- Borrowers work directly with RIIB and RI Department of Transportation to complete project and financing applications