Developers must see Link’s tax benefits

The General Assembly’s approval last week of a $45 million, seven-level parking garage designed to serve development on Providence’s former Interstate 195 land should be a welcome sign to developers. More

To continue reading this article, please do one of the following.



PBN Editorial

Developers must see Link’s tax benefits

Posted 6/23/14

The General Assembly’s approval last week of a $45 million, seven-level parking garage designed to serve development on Providence’s former Interstate 195 land should be a welcome sign to developers.

Much more, however, needs to be done, both in terms of parking and tax issues, before the 19 developable acres in the property now being marketed as The Link can fulfill their potential.

While at least five organizations have confirmed making bids to build on the developable land, others have stayed away due to a perceived unfriendly tax climate.

One way to lure more developers is the promise of tax-stabilization deals. Some city officials have supported individual tax-stabilization deals, rather than a blanket agreement covering all 19 acres. But we agree in concept with Providence City Council President Michael Solomon, a mayoral candidate, who last week called for a citywide tax-predictability program, including for the I-195 land.

Expecting developers to commit time and money to projects in an area marketed for development without some assurance of tax benefits only ensures those with other options pursue them. And that leaves the city with less than what it otherwise might have to choose from. •

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement