Cranston – Mayor Allan Fung today announced his plan to make a significant
investment to improve municipal infrastructure throughout the City of Cranston. A
first step in this plan will be the introduction of several resolution to the City
Council on Monday to seek funding for these improvements.
«Now is the time to look ahead and make a real investment in the future of
Cranston,» declared Mayor Fung. «Throughout my administration, we have managed the
city’s finances carefully and responsibly. As a result, we have an opportunity to
make a significant investment in our city, at a cost that will be affordable for
taxpayers. We have held the line on spending and as a result we have had four
straight years of balanced budgets. Through prudent fiscal management, we have
built up substantial reserves – or a rainy day fund. Under my administration,
Cranston has earned its highest bond rating in decades. Now we can take advantage
of low rates to gain maximum benefit for taxpayers and further improve quality of
life for the residents of Cranston.»
The bond proposals will include $20 million for city-wide street paving and repairs
to address the condition of many of Cranston’s aging roads and streets. Also to be
proposed is a $4 million investment in fire and public safety equipment and
facilities, plus an additional $1 million for repair and maintenance of public
buildings. In total, authority to issue bonds in the amount of $25 million will be
proposed, all to improve Cranston’s public facilities and infrastructure.
In addition to bonding authority, Mayor Fung and his administration are pursuing a
lease purchase program that would allow the city to purchase its streetlights from
National Grid and to convert older technology into modern LED lights, substantially
reducing energy and other costs for taxpayers.