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Committee debates $7.7 million cart replacement plan, financing mix and software choice
Summary
The POCS committee discussed a proposed $7.689 million contract to replace Providence's municipal trash and recycling carts, including financing that combines grants and low-cost borrowing and a cart-management software component.
The Providence POCS committee reviewed a proposed contract award listed in the packet as "requested company," for $7,689,450 under the Department of Sustainability to replace the city's aging trash and recycling carts and related cart-management software.
Staff described a multi-part funding stack that includes a recycling partnership grant of $375,000, a prior EPA-related grant of roughly $1,825,000 cited in the presentation, and a negotiated borrowing package intended to finance the remainder. Staff said negotiations with a financing partner reduced certain fees (for example a debt-service reserve), producing what staff described as effective borrowing…
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