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Committee approves financing package to replace curbside trash and recycling carts, authorizes up to $5.5 million
Summary
Finance committee approved an ordinance authorizing up to $5,500,000 in financing to buy and distribute 125,000 95‑gallon curbside trash and recycling carts, funded by loans from Closed Loop Partners and grants including EPA and Recycling Partnership awards.
The Providence City finance committee on Sept. 9 approved an ordinance authorizing the financing and appropriation of funds, not to exceed $5,500,000, to purchase and distribute new curbside municipal solid waste and recycling carts.
City staff told the committee the program will replace aging carts with 125,000 new 95‑gallon carts (62,500 for trash and 62,500 for recycling). The replacement aims to reduce recycling contamination, lower disposal costs, and reduce ongoing maintenance for broken carts. Staff said the current fleet is more than a decade old and generates significant repair work.
The financing package presented to the committee relies on a combination of low-interest loans from Closed Loop Partners and grant funding. Staff reported a term sheet that calls for borrowing approximately $5,168,000 in two…
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