Providence Foundation voices concerns, asks for more time on city TSA reform
Updated at 2:01 p.m. on May 19, 2021.
CLIFF WOOD, executive director of The Providence Foundation, has asked the Providence City Council to hold off on approving changes to its tax stabilization agreement policies. / PBN file PHOTO/MICHAEL SALERNO
PROVIDENCE – As the City Council prepares to take its second, and final, vote on more stringent requirements for developers whose projects receive city tax breaks, a local civic group representing prominent business leaders is asking lawmakers to take a step back.
The Providence Foundation in a press release on Tuesday outlined a host of concerns with the proposed Tax Stabilization Investment Act, calling for further consideration of how changes such as wage and apprenticeship requirements and expanded council review might impede development and the benefits projects bring to the city.
Providence City Council gives first approval to revised TSA proposal
May 6, 2021 11:02 am
PROVIDENCE – Compromise legislation imposing wage standards for larger development projects that receive city tax breaks while exempting smaller-dollar projects received the initial green light.
May 5, 2021 10:05 pm
PROVIDENCE – The R.I. Housing and Mortgage Finance Corp. through its lender partners helped 1,593 families purchase their first houses in 2020, with a.
Updated at 7:12 p.m. on May 6, 2021.
The PROVIDENCE CITY COUNCIL gave initial approval on legislation that creates wage standards for large development projects that receive property tax breaks. The Hotel Hive Providence project, pictured here, is one of the projects that has received a tax break from the city. / COURTESY ABDO DEVELOPMENT