Providence City Council passes ordinance tightening ‘8% law’ tax breaks

THE PROVIDENCE CITY COUNCIL ON THURSDAY approved an ordinance tightening the eligibility requirements for the so-called “8% law” property tax break./PBN SCREENSHOT

PROVIDENCE – The City Council approved a new ordinance that will govern the use of a state low-income housing incentive known as the “8% law” to spur affordable housing development while preventing what supporters see as a loophole overwhelmingly benefiting real estate interests.  The vote on Thursday was 13-2 with Majority Leader James Taylor and

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber

No posts to display