by Council Staff | Nov 28, 2022 | Add Council Logo, Council News, Press Release
November 28, 2022
Contact:
Parker Gavigan, Director of Communications
pgavigan@providenceri.gov
PROVIDENCE, RI – Tonight, the City Council Finance Committee voted 4 to 1 to approve a new tax exemption agreement and lease extension for ProvPort, Inc. on the south side of the city. The vote followed a lengthy public hearing at city hall.
Key details of the extension and refinancing of bonds include:
- Upfront one-time payment to the city of approximately $7 million
- Increases gross revenue sharing agreement from 5.5% to 9%
- Establishes a sustainability project fund with a minimum of $120,000 a year to support projects throughout the city
- Establishes a community benefit project fund with a minimum of $120,000 a year to support projects throughout the city (amendment specifies $25,000 to be used for Ward 10 projects and the remainder of the funds to be distributed by the Board of Parks Commissioners for parks and recreation infrastructure projects)
- An amendment calling for no further expansion of fossil fuel industries in ProvPort by terms of the lease to 2052
The ordinance establishing a tax exemption agreement for ProvPort can be found here. The resolution authorizing a lease extension and bond for ProvPort can be viewed here.
“These financially responsible agreements position ProvPort for long term growth and much-needed clean energy expansion opportunities on the Providence waterfront,” said Councilwoman Jo-Ann Ryan (Ward 5) and chair of the finance committee. “More importantly, the agreements allow ProvPort to immediately attract critical green energy tenants and businesses in competitive industries like offshore wind development.”
The tax agreement and lease extension now move to the full council for a vote and requires two passages.
by Abigail Appel | Nov 23, 2022 | Add Council Logo, Council News, Press Release
Council Finance Committee Approves City Investments in Clean Water Projects
PROVIDENCE, RI – On Tuesday, City Council Finance Committee members approved measures that allow the city to invest up to $1 million in clean water, stormwater, and sewer infrastructure. The ordinance would authorize the development of Total Maximum Daily Load Implementation Plans (TMDLIP). A total maximum daily load is the maximum number of pollutants allowed to enter a body of water. The plans layout actions and timelines to reach specific water quality goals and standards.
Clean water projects targeted for Providence include Mashapaug Pond, Roger Williams Park Pond, the Woonasquatucket River, and the West River. Providence has received confirmation from the Rhode Island Infrastructure Bank, qualifying the city for $400,000 in loan forgiveness on a loan of $1 million. The proposal calls for the balance of the loan to be paid by American Rescue Plan Act (ARPA) funds allocated for sewer and stormwater projects. The ordinance now moves to the full council and requires two passages.
by Council Staff | Nov 10, 2022 | Add Council Logo, Council News, Press Release, Ward-5
Providence, RI – The Providence City Council Finance Committee held a public hearing Thursday night in the council chamber on a proposed tax treaty for Providence Place mall. No vote was held.
“Tonight’s public hearing on Providence Place mall was an important first step in what I believe to be lengthy discussions on the future of this vital and valuable piece of real estate in the capital city,” said Councilwoman Jo-Ann Ryan (Ward 5), Chair of the Finance Committee. “There’s no question that the retail industry has dramatically changed since the pandemic hit. We heard from residents and directly from representatives of Providence Place about their challenges and needs going forward, which involves reinventing and modernizing this significant space downtown. No one wants to see the mall at the center of our city deserted and a burden to taxpayers, but any change to the tax treaty must include robust discussions that result in a fiscally responsible and fair plan for the city of Providence.”
by Abigail Appel | Nov 10, 2022 | Add Council Logo, Council News, Press Release
City Leaders Present $1.5 Million to Roger Williams Park Zoo to Help Bring Penguins Back to PVD
Today, City Council President John Igliozzi and Mayor Jorge Elorza presented a check for $1.5 million to the executive director of the Roger Williams Park Zoo. The money is part of the larger $124 million American Rescue Plan Act (ARPA) budget passed by the council and signed into law by the mayor earlier this year that funds significant long-term investments across the city following the COVID-19 pandemic. After a long absence, zoo officials say the funding will help bring a penguin exhibit back to the zoo.
“We want to express our gratitude to the Providence City Council and Council President Igliozzi, Mayor Elorza, and the city administration for their tireless support of the Roger Williams Park Zoo, “said Stacey Johnson, executive director of RWP Zoo. “The entire Rhode Island community will be as excited as we are when the new penguin exhibit opens because of these efforts. The penguins left the zoo a decade ago, and we look forward to them returning and making a huge splash in Providence!”
“Roger Williams Park Zoo is a Providence institution that attracts visitors far beyond our city and state limits,” added Council President John J. Igliozzi (Ward 7). “The pandemic financially crushed many businesses and forced others to make difficult decisions to keep the lights on. These funds will go toward what the Zoo does best – educating and inspiring our children and all of us.”
“Our tourism destinations were severely impacted by the pandemic, and often, that lost revenue means that needed improvements and exciting projects have been put on hold,” said Mayor Jorge O. Elorza. “The Roger Williams Park Zoo is one of our city’s most beloved destinations, and the City is proud to have helped to allocate funds to support these projects that will help the Zoo to not only recover from the pandemic, but leap forward into future successes.”
Roger Williams Park Zoo was founded in 1872 and is the third oldest zoo in the United States.
by Abigail Appel | Nov 9, 2022 | Add Council Logo, Council News, Press Release
City Council Passes $10 Million COVID-19 Equities Program and Receives New Tax Agreement for ProvPort
COVID-19 Equites Program
Tonight, at a special meeting of the Providence City Council, members approved the final passage of the $10 million COVID-19 Equities Program budget on a vote of 10 to 1, with 4 Council members absent. The $10 million budget is funded by the American Rescue Plan Act (ARPA) and is a collaborative effort between the City Council and Mayor Jorge Elorza’s administration for January 6, 2022, to December 31, 2024. The budget comes after months of work by the city’s 13-member Municipal Reparations Commission. A portion of the funding, $1.75 million, will be under the guidance and oversight of the United Way, with the creation of the United Way COVID-19 Equity Fund. The goal of the fund is to attract new investments and create a generational impact.
“The road to tonight’s passage was not simple or easy. But I am proud of the work and compromise that helped achieve opportunities for generations to come,” said Councilwoman and Deputy Majority Leader Mary Kay Harris (Ward 11). “I feel these funds will truly help narrow the racial equity gaps when it comes to education and home ownership here in Providence.”
ProvPort Tax Agreement/Lease extension
Also tonight, the city council received a proposal for a tax exemption agreement ordinance for ProvPort, Inc. and a resolution authorizing a 30 year lease extension for ProvPort. Both the ordinance and resolution were received by the Council and sent to the finance committee for further review.
by Council Staff | Nov 9, 2022 | Add Council Logo, Council News, Press Release, Ward-7
Voters passed all 10 Providence City Charter (city constitution) Review Amendments
Providence, RI – “Providence voters spoke volumes at the ballot box on election day, overwhelmingly approving 10 changes to the city’s charter, including the creation of a hybrid school board with five elected and five appointed members,” said City Council President John Igliozzi. “Going forward, elected school board members will have the opportunity to represent every region of the city and participate in an open democratic process for their neighborhoods. I thank my council colleagues and charter review commissioners who spent countless hours, late nights, and seven months gathering public input for these historic changes.”
View all the Charter Review changes here – https://council.providenceri.gov/charter-review/
###
