City to create tax treaties for I-195 land and neighborhoods

 

COURTESY PHOENIX PROPERTY CO. 

PROVIDENCE – The city has proposed two standardized tax incentive programs for development in the Interstate 195 corridor, including one that would defer full taxes for projects of at least $10 million for 13 years, Mayor Jorge O. Elorza and City Council leaders announced Thursday.

The 13-year tax stabilization agreement would provide for administrative approval, Elorza said. The program would be overseen by the city’s tax assessor.

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