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Providence Foundation voices concerns, asks for more time on city TSA reform
Updated at 2:01 p.m. on May 19, 2021.
CLIFF WOOD, executive director of The Providence Foundation, has asked the Providence City Council to hold off on approving changes to its tax stabilization agreement policies. / PBN file PHOTO/MICHAEL SALERNO
PROVIDENCE – As the City Council prepares to take its second, and final, vote on more stringent requirements for developers whose projects receive city tax breaks, a local civic group representing prominent business leaders is asking lawmakers to take a step back.
The Providence Foundation in a press release on Tuesday outlined a host of concerns with the proposed Tax Stabilization Investment Act, calling for further consideration of how changes such as wage and apprenticeship requirements and expanded council review might impede development and the benefits projects bring to the city.
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