Providence City Council Finance Committee approves $737M budget for FY 2018

PROVIDENCE – The Providence City Council Finance Committee approved a $737 million budget for the 2018 fiscal year on Monday, according to a press release from the Providence City Council. The release said the budget reflected the council’s and Mayor Jorge O. Elorza’s mutual goal of establishing a fiscally responsible budget, including a rainy day fund to increase the city of Providence’s bond rating, making it easier to borrow in the future.

The proposed budget also would not raise taxes.

The council’s proposal is slightly higher than the $734.3 million proposed by the mayor in April. The mayor’s office declined to comment on the council’s proposed budget.

The budget will now go to committee to be voted on by the city council twice before it can be officially enacted.

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The release also highlighted a few council-led initiatives:

  • A more-relaxed late tax payment penalty
  • $300,000 for a traffic calming program led by the Providence Police Department, which works by placing a police officer in troubled traffic areas to reduce incidents of speeding and other driving infractions
  • Allocations for a second cohort of fire and police academies
  • $1.5 million allocation for the Neighborhood Infrastructure Program
  • $200,000 allocation to pilot a city blight removal program, a demolition project that would demolish abandoned structures too costly to rehab
  • Continued investment in PVD Fest

Chris Bergenheim is the PBN web editor.