The expected
costs associated with burying the power lines or moving the towers
vary by source. Here is a chart of the different numbers given between
Spring 2003 to Spring 2004:
|
Total Power Line Costs
|
| |
|
| Burial, estimate 1 |
$9,400,000 |
| Burial, estimate 2 |
$9,200,000 |
| Burial, estimate 3 |
$8,200,000 |
| |
|
| Above-ground transfer, estimate 1 |
$2,000,000 |
| Above-ground transfer,
estimate 2 |
$1,700,000 |
Narragansett Electric has agreed to bury the lines,
as long as funding can be found to cover the added costs. Numerous
funding schemes have been investigated, which are summarized
in the following chart:
|
Proposed Funding Sources
|
| |
|
| Narragansett Electric funds committed to
moving overhead lines |
$450,000 |
| Tax Incremental Financing from Providence
& East Providence |
$2,000,000 |
| Rhode Island Transportation Enhancement
Program |
$1-1.5 million |
| RI Utility rate increase, 4 cents month
over 10 years |
$4.7-7 million |
| RI Utility rate increase, 34 cents month
over 1 year |
$4.7-7 million |
| New England rate increase, 1 cent month
over unspecified timespan |
$6,500,000 |
| Utility savings fund for economic development |
$1-2.5 million |
| Utility storm fund (overhead wires are in
a flood plain) |
$1-2.5 million |
| Federal transportation appropriations bill |
$3-4 million |
| Previous Narragansett Electric underground
projects have come in 40% under budget |
$3,000,000 savings |
| |
|
| |
|
|
Committed Funding
Sources
|
| |
|
| State grant to Providence Parks Department for burial
|
$375,000 |
| RIDOT funds, transfered from moving overhead lines |
$2,500,000 |
|
