PROVIDENCE – The 5-acre park in the I-195 Redevelopment District has a proposed budget for the next fiscal year of $600,000, most of it for maintenance and development of the public green.
Naming rights — under a proposal made by Bally’s Corp. — would provide $250,000 for the park in its first year, if the state authorizes the gaming legislation now before the R.I. General Assembly. If that agreement is authorized, the funds would be dispersed over five years, in decreasing amounts, for a total of $700,000, according to district commissioners.
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But even with that, the park faces a funding gap for the upcoming fiscal year. And it remains largely undeveloped as it enters the summer.
The naming rights would allow Bally’s to brand a pavilion with a restaurant that will be constructed on the site using state bond proceeds, according to I-195 Redevelopment District Commission Chairman Robert Davis.
“This will not be Bally’s Innovation District Technology Park,” Davis said.
The commission staff is working with the state Office of Management and Budget and the governor’s office to resolve the funding gap, according to Executive Director Caroline Skuncik.
By fiscal 2023, completed developments in the I-195 district will be making contributions toward the park, including the Aloft Hotel and Point225, the building constructed by Wexford Science & Technology, according to Davis.
The park will receive $4 million for capital improvements from a recent state bond issue. Those funds will be used to build a permanent restaurant on the site, including extending infrastructure such as sewer and water and electricity.
Meanwhile, the R.I. Department of Transportation continues to make upgrades to the site.
RIDOT agreed, at the commission’s request, to reseed the lawn area this year to try to replace the barren areas. That work will start this week, Skuncik said.
RIDOT also is going to make the park compliant with the Americans with Disabilities Act, she said. Sections of the park, she said, still have barrier fences in place.
In other business, the district has issued a Request for Proposal for Parcel 2 on the East Side. Developers interested in submitting proposals for the site have until Aug. 6.
The Fane Organization has also submitted design development documents to the district. The company submitted about 800 pages of design information for its proposed high-rise apartment building on May 15. The commission has forwarded the information to its design consultant, Utile. It has not yet determined if the design documents satisfy its requirements for information. In a related matter, at the developer’s request, the commission attorney said he will not release the documents to media unless a formal request is made for public documents.
In addition, Commissioner Brendan Doherty has resigned, according to Davis. He submitted his resignation last week and cited increasing time conflicts, Davis said.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
