by Council Staff | Feb 17, 2022 | Add Council Logo, Press Release
February 17, 2022
PRESS RELEASE
City Council Addresses Troubled Pension System and Other Legislation
• Council passed a pension obligation bond resolution to help mitigate the city’s struggling pension system
• Councilors gave approval to renaming the Windmill School to “The Narducci Learning Center”
• Councilors passed a resolution donating a 1968 firetruck to the Rhode Island Antique Fire Apparatus Society
• Three individuals recognized for their contributions to the city and inductions into The Reverend Dr. Martin Luther King Jr. Hall of Fame
PROVIDENCE, RI – At tonight’s Providence City Council meeting, councilors passed a resolution moving the city one step closer to addressing its critically unfunded pension system. The resolution requests that the General Assembly enact legislation authorizing the city to issue general obligation bonds to finance a contribution toward the $1.2 billion unfunded pension liability of the Employee Retirement System (ERS). “This council understands the unfunded pension liability is one of the most significant issues facing our city and its ability to provide crucial services for taxpayers. We can all agree that doing nothing is not an option,” said Council President John Igliozzi. “Unfortunately, the problem hasn’t been fixed by previous administrations and now it’s our job to address this serious financial situation for the public, the city, and the integrity of our retirement system for future generations. Is this proposed bond the easy answer? No, but it will help mitigate a broken system with an infusion of $500 million. The City Council has added financial guardrails that are essential to making sure pension payments are predictable and affordable. The council respectfully asks our state leaders and state legislatures to keep an open mind in the days and weeks ahead, as they learn more about this proposal,” added Igliozzi.
The city council’s support for a bond is contingent on several financial guardrails, including:
1. Total pension obligation bond payments and the city’s actuarial determined contribution (ADC) shall not be less than $93.1 million for the first 10 years
2. City shall not close any pension bonds without receiving city council approval and bonds shall not exceed an interest rate of more than 5%
3. Expected annual rate of return shall not exceed 7%
4. Salary scale shall not exceed 3% per the current actuarial experience study
5. City shall make 100% of its annual ADC payments
Legislation (S-2321, H-7499) was introduced this week before the General Assembly authorizing Providence to issue a 25 year, fixed-rate pension obligation bond not to exceed $515 million.
Former Windmill School to Become Narducci Learning Center
The Narducci family legacy will live on in the form of a multi-million-dollar renovation project in Ward 4. Tonight, the City Council approved a resolution renaming the former Windmill Elementary School in honor of Councilman Nicholas J. Narducci Jr. and the Narducci family. The building sat abandoned for more than a decade before work began on a $30.5 million project. “I am humbled and honored to see my family’s name on a place that means so much to us,” said Councilman Narducci. “This beautiful building, at the heart of my neighborhood will finally return to its former glory.” The new Narducci Learning Center will eventually become a much-needed ‘swing space’ for students from other renovation projects.
Firetruck Donation
The City Council passed a resolution requesting the transfer of a 1968 Kaiser Mini-Pumper #2 firetruck to the Rhode Island Antique Fire Apparatus Society. According to the resolution, the truck was used as part of the task force assignments on the 3rd and 4th of July when the city battled multiple fires in the 1970s, but is now obsolete and no longer a viable tool for the City of Providence.
MLK Jr. Hall of Fame
At tonight’s City Council meeting, Councilors honored three individuals who were inducted into the City’s Reverend Doctor Martin Luther King Jr. Hall of Fame. These individuals bring decades of community service and have been selected for this honor because of their close alignment with the values and principles of Dr. King. Angela Bannerman Ankoma is the Vice President and Executive Director of Equity Leadership at the Rhode Island Foundation. Previously serving as the Executive Vice President, Director of Community Investment at United Way of Rhode Island (UWRI) and the Rhode Island Department of Health, where she was a founding Co-Director of the Health Equity Institute. Ankoma is a board member of the West Elmwood Housing Development Corporation (WEHDC) and a founding member of the WEHDC’s Sankofa Initiative which works to address modern health, financial, and community challenges in the West End of Providence. Additionally, Reverend Howard M. Jenkins, Jr. was honored. Reverend Jenkins has served as the Pastor of Bethel A.M.E. Church in Providence for over ten years. Originally from Portsmouth, Virginia, Reverend Jenkins is retired from General Dynamics Electric Boat after a 31-year career. Reverend Jenkins is the president of the Rhode Island Ministers Alliance and a member of several community organizations. The final inductee honored was Idrees “Lanre” Ajakaiye, a Providence native and the President and CEO of the 25 Bough Street development, an innovative mixed-use commercial space in the heart of Olneyville. Ajakaiye has helped to develop and host events such as the New England Family Fun Festival and the R.I.S.E. Women’s Leadership Conference in partnership with his wife, Hilina Ajakaiye. Ajakaiye also serves as a mentor through Year Up, College Leadership RI, local schools, and has long been involved in youth basketball in Providence. The City Council extends its sincerest congratulations to this year’s inductees and thanks them for their wide-ranging contributions to the City of Providence.
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by Council Staff | Feb 10, 2022 | Add Council Logo, Press Release
February 10, 2022
PRESS RELEASE
Finance Committee Passes Pension Obligation Bond Resolution
PROVIDENCE – At tonight’s Providence City Council Finance Committee meeting, a resolution was passed bringing the city one step closer to reducing its massive unfunded pension liability. The resolution requests that the General Assembly enact legislation authorizing the city to issue general obligations bonds to finance a contribution toward the $1.2 billion unfunded pension liability of the Employee Retirement System (ERS). According to the Providence Pension Working Group, the city’s pension system is among the lowest-funded pension plans in the country. The Council supports a pension obligation bond of not more than $515 million, contingent on several financial guardrails, including:
• Total pension obligation bond payments and the city’s actuarial determined contribution (ADC) shall not be less than $93.1 million for the first 10 years
• City shall not close any pension bonds without receiving the City Council approval and bonds shall not exceed an interest rate of more than 5%
• Expected annual rate of return shall not exceed 7%
• Salary scale shall not exceed 3% per the current actuarial experience study
• City shall make 100% of its annual ADC payments
“The Providence City Council understands that inaction is not an option here, but we needed to make sure certain financial guardrails were set in place for such a large transaction. Tonight, we are one step closer to helping firm up the city’s unfunded pension system and we’re taking a monumental step to put the city’s finances in a better position. I am fully committed to pursuing all available pension reforms to address the city’s unfunded liability. I want to thank my council colleagues and the city’s pension working group for their efforts,” said Councilwoman Jo-Ann Ryan (Ward 5), Chairwoman of the Finance Committee. The resolution will now move to the full council for a vote on February 17. Copies of the resolution will be sent to the Senate President, the Speaker of the House, and members of the Providence delegation.
by Abigail Appel | Jan 11, 2022 | Council News, Press Release, Ward-1
Today, I’m respectfully asking Governor McKee, Chairman Robert Davis, and the members of the I-195 Redevelopment District Commission to consider final decisions on the development of Providence land happen “with the community” rather than simply “to the community.”
Over the past several months, our office has been working diligently to engage and inform the residents of Ward 1 on the development of Parcel 2, located along the Providence River at the edge of the College Hill and Fox Point neighborhoods. We have hosted virtual community meetings with each of the proposed developers and hundreds of community participants. Additionally, we have had ongoing discussions with the I-195 Redevelopment District, and we’ve held small meetings with each of the developers and neighborhood abutters who live near the site. We recently released a digital survey and received feedback via 75 written comments from neighborhood residents across the Ward. A letter sent to Commission with condensed feedback includes these concerns:
•The height of the three proposals is at odds with the community
•Lack of parking
•More green space is needed
“I am very cognizant of the complexities and the shifts in the market in light of the pandemic and deeply support economic growth and the creation of more residential housing stock in our city to address our ongoing housing crisis. However, residents who care deeply about our neighborhood should not bear the brunt of top-down development decisions that will have enormous implications on our neighborhoods for decades to come,” said Councilman Goncalves.
“I join with and share in the concerns of Councilman Goncalves and the community regarding the development of Parcel 2. It is critical that the I-195 Commission listen to the voices of the neighborhood and address community feedback in considering projects for this land,” said House Majority Leader, Christopher Blazejewski.
Moreover, concerns loom about the I-195 Redevelopment District Commission diverting from the original mission of creating a true Providence Innovation & Design District and life-sciences mecca full of vibrant “knowledge-based” jobs in information technology, engineering, biomedical, biotechnology, and other fast-growing sectors. In letters both to the Governor and the Commission, I respectfully request we:
•Formalize and establish a task force/commission of neighborhood abutters/representatives and local businesses who can help the commission develop Requests for Proposals
•Creating a panel of neighborhood experts with expertise in architectural design, zoning, planning, development, and historic preservation to ensure exceptional architecture, design, and sensitivity to the historic vibrancy of our neighborhood to complement the commission’s urban design consultants and Downtown Design Review Committee (DDRC) review during the Design Review Process
•A more comprehensive road planning and development plan is required to proactively address, and mitigate concerns of traffic flow, parking, and congestion
In the coming days, we will present a list of undersigned constituents who agree with these recommendations. We are looking forward to a formal response in writing and we are appreciative of all parties for their cooperation and good faith in advance. We look forward to working collaboratively to strengthen the District and ultimately, serve the people of our neighborhoods, the Capital City, and the State at large.
by Council Staff | Jan 6, 2022 | Add Council Logo, Press Release, Ward-10, Ward-14, Ward-5, Ward-7
City Council Holds First 2022 Meeting
• Council President John Igliozzi issues unprecedented address and calls for an independent audit to oversee the disbursement of $124 million in federal relief funds
• Council calls on RI DOT to reduce the speed limit on Allens Ave to 25 mph
• Council calls on Providence Housing to stimulate more affordable housing
• A final ordinance passed prohibiting the storage of liquid propane gas (LPG) in the city
• Councilors call on the administration to hire a consultant to understand the true status of all city-owned real estate for the possibility of developing affordable housing or other public services
Providence, RI – At tonight’s Providence City Council meeting, President John Igliozzi (Ward 7) set a serious and circumspect agenda for 2022, which includes holding the line on taxes, supporting police and public safety, as well as the importance of the once in a decade legislative process involving the Charter Review Commission and Ward Boundaries Committee. COVID-19 has decimated Providence’s restaurants, hotels, and small locally owned businesses. Many folks have lost jobs and cannot find housing. The city has an enormous responsibility of dispersing $124 million in American Rescue Plant Act recovery funds. “That is why, as part of the ARPA budget, I will be recommending the Council retain the services of an independent auditor to track, monitor, and prepare bi-weekly reports on ARPA expenditures. This will allow the Council and the public to monitor the progress of every ARPA dollar,” said Igliozzi.
Liquid Propane Gas
The City Council passed President Pro Tempore Pedro Espinal’s (Ward 10) ordinance prohibiting the storage of Liquid Propane Gas (LPG) in Providence. This legislation comes after Pro Tempore Espinal and community activists continued to advocate to stop outside corporations from increasing the storage of highly combustible LPG in the Port of Providence. While Liquid Natural Gas has long been prohibited in Providence due to its high risk of combusting, Espinal has led the effort to broaden this prohibition to Liquid Propane Gas. “Tonight’s ordinance is a big win for protecting the environment and neighborhoods in the Port of Providence. The families of South Providence have too often gotten the short end of the stick as an environmentally harmful industry is allowed to freely expand in their back yards. This ordinance puts Providence residents first and takes a stand against environmentally harmful business practices. I am grateful to my council colleagues and the many tireless community advocates who have joined me in the continued fight for public health, and environmental protection in our city,” said Espinal.
Housing Need
Councilwoman and Finance Committee Chair Jo-Ann Ryan (Ward 5) introduced and passed a resolution, that calls on the Providence Housing Authority to act with urgency and maximize its allocation of Project-Based Vouchers (PBV) to promote the development of affordable housing in the capital city. The 2001 federal housing law allows public housing agencies like the PHA to convert up to 20% of their Housing Choice Voucher (HCV) portfolios to Project-Based Vouchers. What’s the difference? HCVs travel with the family, commonly in one-off privately owned units. PBVs stay rooted in Providence and when coupled with other housing assistance resources, provide critical gap financing to otherwise unsustainable affordable housing developments. “The PHA is underutilizing this critical tool which creates affordable housing for disabled, elderly, and low-income households. Only 100 Project-Based Vouchers exist under the PHA. That’s about 4% of its portfolio and far too low. The PHA has a long way to go to stimulate construction and service the needs of residents looking for a place to call home,” said Ryan.
Vacant property
Tonight, Councilor David Salvatore (Ward 14) and the City Council passed resolution 35044, calling for the detailed analysis of all city-owned real estate, to identify possible areas to develop affordable housing. In September of 2020, the Council requested a list of all real estate owned by the city and the Providence Redevelopment Agency (PRA). Initial estimates show more than 150 city-owned vacant lots. “Right now, our city is seeing an unprecedented need for affordable housing. Through this resolution, and the assessments of our real estate, we can begin to utilize untapped resources to bring housing to the people of Providence,” said Councilman Salvatore. “I am excited to begin exploring potential avenues for dynamic and much-needed development of these otherwise unutilized parcels and buildings.” The Council is now calling for immediate site assessments of all real estate owned by the PRA and the city.
Full Council Docket
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by Abigail Appel | Jan 6, 2022 | Add Council Logo, Council News, Press Release, Ward-1, Ward-10, Ward-11, Ward-12, Ward-14, Ward-2, Ward-3, Ward-4, Ward-9
Councilwoman Nirva R. LaFortune (Ward 3), Council President Pro Tempore Pedro Espinal (Ward 10), Majority Leader James Taylor (Ward 8), Senior Deputy Majority Leader Nicholas J. Narducci Jr. (Ward 4), Deputy Majority Leader Mary Kay Harris (Ward 11), Majority Whip Carmen Castillo (Ward 9), Councilor David Salvatore (Ward 14), Councilwoman Helen Anthony (Ward 2), Councilwoman Kat Kerwin (Ward 12), and Councilman John Goncalves (Ward 1), penned a letter to Rhode Island Governor Dan McKee regarding the state’s response to the recent uptick in cases of COVID-19.
by Abigail Appel | Dec 12, 2021 | Add Council Logo, Council News, Press Release, Ward-3, Ward-5, Ward-7
The City Council promised to give Providence Police the tools they need to help solve the city’s 23rd homicide of 2021, following a deadly shooting Saturday night on Huxley Avenue, in the Elmhurst neighborhood.
“I am troubled to hear of, yet another young life taken by violence in the City of Providence, especially in a neighborhood that I call home and represent,” said Councilwoman Jo-Ann Ryan (Ward 5). “I am working with police and city departments. A full investigation is underway. We need to keep our neighborhoods safe. I have led the effort on the City Council to strengthen our police force through recruitment and training. We need more officers on the streets.”
Council President John J. Igliozzi (Ward 7) condemned the violence and promised police the Council’s full support. “I commend the men and women of the Providence Department for their quick response to last night’s latest act of violence. Too many guns are on our streets. Too many young people are dying senselessly from gun violence. I’m committed to giving Providence Police the resources they need for this investigation,” said Igliozzi.
Councilwoman Nirva LaFortune (Ward 3) released the following statement after last night’s deadly shooting. “As our city grapples with its 23rd homicide this year during a season that is supposed to be filled with joy and celebration, I am calling on my colleagues in government, public safety officials and community members to join me in putting an end to this senseless violence. This is an issue that affects not only Providence, but our entire state. As we approach 2022, I hope we can work within communities to take a restorative approach to these issues. We must keep working for the those who have lost a son, brother, husband, or friend; not just last night, but every time a family has faced tragedy like this in our city.”
