PROVIDENCE, R.I. — The mayor of Providence wants to borrow at least $200 million over the next 10 years to fund repairs at city schools.
Democratic Mayor Jorge Elorza made the announcement at a press conference Monday. WPRI-TV reports that a large number of city and state politicians attended the conference to show their support for Elorza’s proposal.
Elorza says the city has the ability to borrow about $400 million over the next 10 years for school repairs without increasing current debt service levels.
Elorza says he is only committing to borrow $200 million right now.
City Councilwoman Jo-Ann Ryan says the mayor’s plan would need to be vetted by the city council, but appears to be responsible.
Repair funds are usually borrowed through the Providence Public Buildings Authority without voter approval.