Providence City Council gives first approval to revised TSA proposal

Updated at 7:12 p.m. on May 6, 2021.

The PROVIDENCE CITY COUNCIL gave initial approval on legislation that creates wage standards for large development projects that receive property tax breaks. The Hotel Hive Providence project, pictured here, is one of the projects that has received a tax break from the city. / COURTESY ABDO DEVELOPMENT
PROVIDENCE – Compromise legislation imposing wage standards for larger development projects that receive city tax breaks while exempting smaller-dollar projects received the initial green light from the Providence City Council Thursday evening. The 14-2 vote is the first of two needed to enact the revised Tax Stabilization Investment Act, which seeks to strike a balance between incentivizing development and protecting…

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