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Providence Place Mall owner seeks mortgage relief after COVID struggle


Providence Place mall owner seeks mortgage relief after COVID struggle
The owner of the Providence Place mall has fallen behind on the property s mortgage and is trying to refinance its obligations on the property, according to ratings agency Fitch.
The mall mortgage was placed in special servicing April 27 due to imminent monetary default, Fitch Ratings said as it downgraded the credit rating of bonds containing the mortgage.
A special servicer manages securitized loans that are in default.  
Providence Place, like numerous other malls in the country, was hit hard by the COVID-19 pandemic.
According to Fitch, Providence Place was 86.2% occupied in December. Stores in the mall, excluding the Apple Store, reported sales of $417 per square foot in 2020 compared with $647 per square foot in 2019. ....

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Raimondo 'frustrated' by lack of progress on Providence teachers' contract, but hopes to avoid legal battle


Raimondo ‘frustrated’ by lack of progress on Providence teachers’ contract, but hopes to avoid legal battle
The state has controlled the city’s schools since November 2019
By Dan McGowan Globe Staff,Updated December 21, 2020, 9:22 p.m.
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Governor Gina M. Raimondo talks about Rhode Island s response to the coronavirus during a September news conference. Education Commissioner Angelica Infante-Green is in the background.Sandor Bodo/Pool/The Providence Journal
PROVIDENCE – Education Commissioner Angélica Infante-Green might be drawing a line in the sand with the Providence Teachers Union, but Governor Gina Raimondo isn’t playing on the same beach. ....

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State's 4 Electoral College members to vote for president


Rhode Island casts 4 Electoral College votes for Biden
December 14, 2020 GMT
PROVIDENCE, R.I. (AP) Rhode Island officially cast its four Electoral College votes for President-elect Joe Biden on Monday.
The votes were cast at the Rhode Island State House by Elizabeth Jane Beretta-Perik, treasurer of the state Democratic Party; Central Falls Mayor James Diossa; Providence City Council President Sabina Matos; and Joseph Paolino Jr., a former Providence mayor and former U.S. Ambassador to Malta.
Secretary of State Nellie Gorbea, a Democrat, presided over the nearly hourlong ceremony in the state House of Representatives chambers, which was closed to the public because of the pandemic. ....

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