‘Superman’ building will test city’s new tax stabilization policies

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A PROPOSED tax stabilization agreement between the city of Providence and the owners of the Industrial Trust Co. Building has already stirred a lot of debate before the details have been hammered out. / PBN FILE PHOTO/CHRIS BERGENHEIM
A PROPOSED tax stabilization agreement between the city of Providence and the owners of the Industrial Trust Co. Building has already stirred a lot of debate before the details have been hammered out. / PBN FILE PHOTO/CHRIS BERGENHEIM
Reforms to the policies governing tax deals that Providence offers to real estate developers will be put to the test on the city's most iconic skyscraper. A tax stabilization agreement with the city is one piece of the public and private funding puzzle proposed for the $220 million “Superman” building redevelopment. Already, naysayers have voiced…

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