City to create tax treaties for I-195 land and neighborhoods

PROVIDENCE MAYOR JORGE O. ELORZA and Providence City Council are proposing a new tax stabilization agreement regime, something that might help push forward development in the Interstate 195 corridor, including this student housing project that has been held up by the lack of such an agreement.  / COURTESY PHOENIX PROPERTY CO.
PROVIDENCE MAYOR JORGE O. ELORZA and Providence City Council are proposing a new tax stabilization agreement regime, something that might help push forward development in the Interstate 195 corridor, including this student housing project that has been held up by the lack of such an agreement. / COURTESY PHOENIX PROPERTY CO.
PROVIDENCE – The city has proposed two standardized tax incentive programs for development in the Interstate 195 corridor, including one that would defer full taxes for projects of at least $10 million for 13 years, Mayor Jorge O. Elorza and City Council leaders announced Thursday. The 13-year tax stabilization agreement would provide for administrative approval,…

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