Council, mayor agree on TSAs to boost City Centre

WARWICK – In concert with state legislation to spur development and create jobs, the City Council and the administration are in agreement on a tax-stabilization program designed to foster development in City Centre Warwick.

The parties announced on April 13 they would jointly sponsor tax stabilization to “jump-start” City Centre, the Warwick Beacon reported.

To be eligible for the program, development projects would have to be within the Warwick Intermodal District and have a project cost of not less than $5 million. Further, construction of the project would have to start within a year of receiving a tax-stabilization agreement, which would be issued by the city tax assessor and completed within 36 months of the agreement. A manufacturing or commercial concern relocating from inside the state to City Centre would not be eligible for the plan. •

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