PROVIDENCE – Lifespan paid Providence $400,000 voluntarily as part of a Payment In Lieu Of Taxes program just in time to make a donation for the fiscal 2017 year.
PILOT programs allow nonprofit organizations to reimburse municipalities for taxes the city or town would have received had there been a normal taxable business on the same property.
“Lifespan has a history of making substantial investments in our community in addition to the $1.22 million we pay annually in taxes on property we own and lease in the city. We had committed that we would consider making a PILOT payment – in addition to the total of $2.8 million we paid in previous years – when our financial situation allowed for such contributions,” said Dr. Timothy J. Babineau, president and CEO of Lifespan.
“In fiscal year 2016, Lifespan essentially broke even – an improvement on the prior year’s $33 million operating loss – and is pleased to be able to make a payment of $400,000 prior to the close of the city’s fiscal year,” he said.
In response to the donation, Mayor Jorge O. Elorza said, “We continue to look for ways to work collaboratively with our anchor institutions. I thank Lifespan for their continued support of the City of Providence and look forward to working with them as we move Providence forward together.”
Chris Bergenheim is the PBN web editor.
