Tonight, Councilman James E. Taylor (Ward 8), along with Senior Deputy Majority Leader Nicholas J. Narducci Jr. (Ward 4), and Councilor Rachel Miller will introduce a resolution requesting the valuation of all city-owned properties.
“The COVID-19 pandemic has created significant fiscal challenges for municipalities throughout Rhode Island,” stated Councilman James E. Taylor. “It is critical for the City to have a complete and detailed assessment of all of its current assets and liabilities to help guide the coming financial decision making that will take place in the Committee on Finance, where I serve as a member.”
Under Section 2-101 of the Providence Code of Ordinances, the Department of Public Property has jurisdiction over all public lands, buildings, or other structures owned by and under control of the City of Providence.
Senior Deputy Majority Leader Nicholas J. Narducci Jr. stated, “An inventory of all City-owned real estate, including valuations and a brief description on the current and proposed future use for each parcel, will significantly assist the Finance Committee and the City Council as a whole in their decision making surrounding this year’s budget which has yet to be passed.”
“I look forward to further understanding the City’s assets as the Council is tasked with making decisions that will have fiscal impacts for years to come. These lists of properties and their valuations will help us to make sound and impactful decisions for our residents,” stated Councilor Rachel Miller.
Upon passage of the resolution the Department of Public Property shall furnish said inventory, including valuations, to the Office of the Internal Auditor within two weeks.