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Providence Foundation voices concerns, asks for more time on city TSA reform

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. ....

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Providence City Council to vote on revised TSA proposal - Providence Business News

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 ....

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Wage requirements in Providence TSA proposal pit developers against unions

Wage requirements in Providence TSA proposal pit developers against unions
Updated at 4:59 p.m.
A PROPOSAL to require developers who receive city tax breaks to abide by state prevailing wage laws has stirred controversy between developers and union representatives. Lack of wage standards was a source of criticism for the Tax Stabilization Agreement for the Hotel Hive project slated for the former Providence Journal building, pictured above. / COURTESY ABDO DEVELOPMENT
PROVIDENCE – A proposal to add wage and labor requirements for developers whose projects receive property tax breaks in the city has fanned flames of longstanding disagreements between developers and union representatives. At issue is how much the city can and should set requirements on developers whose projects are awarded tax stabilization agreements, and whether… ....

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