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Tag Archives | Historic Preservation

PPS: Save Rhode Island’s Historic Tax Credits

The R.I. House Finance Committee did not include historic tax credits in the proposed budget fr next year. The Providence Presevation Society has issued the following call to action:


Act Now to Save Rhode Island’s Historic Tax Credits!

pps-logoLast year, the State Historic Tax Credit Program was reinstated, and 26 new projects are underway – including the rehab of the Tirocchi House on Broadway and the George C. Arnold Building in Downtown Providence!

However, there are 27 additional projects throughout the state still waiting to receive credits. Without funding for Historic Tax Credits, most of these projects will not happen. This would mean the loss of nearly $160 million in construction activity, an investment of jobs and revenue which our economy desperately needs. Rhode Island’s Historic Tax Credit program has an excellent track record. From 2002 to 2008, it generated $1.3 billion in new private investment in Rhode Island’s real-estate economy. This resulted in 22,000 construction jobs, 6,000 permanent jobs, and total wages of more than $800 million.

Last week, the House Finance Committee declined to recommend funding for this program. The House will take up the budget this week; only a groundswell of voices from around the state will convince representatives to include Historic Tax Credits in the budget. Time is short – immediate advocacy is needed.

PPS supports Preserve Rhode Island’s efforts to restore the State Historic Tax Credit. Contact your Representative in General Assembly to ask them to urge the Speaker of the House, Nicholas A. Matiello, and the Chairman of the House Finance Committee, Raymond E. Gallison, to pass a budget that includes funding for Historic Tax Credits. Email or call your Representative before Wednesday, June 11th (they are expected to act on the budget on Thursday).

We also urge you to contact Speaker Matiello’s office directly:

Nicholas Matiello
Speaker
House of Representatives
State House, Room 323
Providence, RI 02903
401-222-2466 • Rep-mattiello@rilin.state.ri.us

Lynne Urbani
Director, Office of House Policy
Room B43, State House
Providence, RI 02903
401-258-1760 • lurbani@rilin.state.ri.us


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UPDATED: WPRI: RI moves ahead on $206M nursing school project

south-street-rendering

PROVIDENCE, R.I. (WPRI) — The R.I. Board of Education on Monday unanimously signed off on a proposed 15-year lease for the state’s two nursing schools to move into a new joint facility that would be built inside the decaying former South Street Power Station in partnership with Brown University.

The $206-million project, unveiled last year by developer Dick Galvin of CV Properties LLC, would redevelop the former power plant along the Providence River and adjoining property into academic space for the state; office space for Brown; student apartments; and a parking garage.

The parking garage and student housing would be in new buildings built on adjacent parking lots.

May 15, 2014: Press release from the Mayor’s Office

Taveras Administration Proposes South Street Landing Agreements Requiring Tax-Exempt Institutions to Pay Taxes

Development of former power station viewed as significant opportunity to expand city’s tax base, create jobs, spur economic growth in Knowledge District.

The tax-exempt tenants of the proposed South Street Landing development project will pay taxes to the City of Providence under agreements proposed by the administration of Mayor Angel Taveras.

“South Street Landing is a once-in-a-generation economic development opportunity for our Capital City,” said Mayor Taveras. “The project promises to expand Providence’s tax base and increase tax revenues, create construction jobs and permanent jobs, help jumpstart development in the Knowledge District, improve public access and recreation along our waterfront and assure the preservation of an iconic building in our city.”

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The New York Times: Historic Power Plant in Providence, R.I., May Get Another Chance at an Encore

The New York Times reports that Brown University may be interested in redeveloping the South Street Power Station, better known as the location of the stalled “Dynamo House” project.

According to James S. Bennett, director of economic development for Providence, “serious” possible tenants have looked at the building in recent months, though he declined to say who they were. Sources knowledgeable about the site said that Brown University might be interested since Dynamo House is in the city’s Jewelry District, where Brown has expanded in recent years.

Mr. Bennett said the city had made finding a new use for the building a priority, and would not consider the alternative: “It’s not going to be torn down,” he said.

See also:
Greater City Providence: What’s going on with the Dynamo House?
Via: Nesi’s Notes
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Historic Poirier’s Diner moving to Westminster Street

Poirier's Diner

Poirier’s Diner

The National Register of Historic Places listed Poirier’s Diner will be restored and re-opened at a new location at 1380 Westminster Street on the West Side.

The Poirier’s Diner is probably better known as El Faro to those who last patronized it when it was situated at Fort Thunder. It was removed from its Atwells Avenue location when Eagle Square was redeveloped and has been looking for a permanent home ever since.

Stack Design Build reports on their blog about restranteur Jon Özbek’s plans for the diner:

Developer Jon Özbek has begun a full scale renovation of the diner with the help of General Contractor Stack Design Build of Providence, the RI Historic Preservation & Heritage Commission, the Providence Revolving Fund, and MODA, LLC. This project represents a significant investment in the City, while it will also create new jobs. The Diner will be a welcome addition to the burgeoning West Side business community.

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Reintroduction of Rhode Island historic tax credits

Grow Smart Rhode Island and others are working to reintroduce Rhode Island’s historic tax credit program:

Legislation has been introduced to establish a re-structured state historic preservation investment tax credit

On May 3, House Majority Whip J. Patrick O’Neill, joined by William San Bento, Elaine Coderre, Jeremiah O’Grady, and Raymond Johnston, introduced H-6098 which would establish a re-structured state historic tax credit for income-producing properties. Briefly, the tax credit program would:

  • Provide a 20% tax credit, with the credit increased to 25% if a project included at least 25% commercial/industrial space or, in the case of downtown properties, if the entire first floor were rehabbed for commercial/industrial use;
  • Apply to projects throughout Rhode Island;
  • Have no cap;
  • Delay awarding any credits until fiscal year 2013;
  • Require that larger tax credit recipients, those entitled to a credit of more than $5 million, take their credit in a maximum of $5 million annual installments with any remaining balance paid to them in the 4th year of credit distribution.
  • Social clubs and most single-family homes would not be eligible.

Find out more about how you can help support this legislation.

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The 26th Annual RI Statewide Historic Preservation Conference, April 30

Destination Block Island:
Tourism and Community in a Historic Place

Saturday, April 30, 2011 with additional events on Friday + Sunday, Block Island
Programs available now [.pdf]

Pack your bags! The 26th Annual Rhode Island Statewide Historic Preservation Conference is headed overseas. Twelve miles off the mainland, Block Island beckons as both a historic vacation spot and a tight-knit community. Grand hotels, well-preserved summer cottages, walking trails, historic sites, and attractive beaches appeal to visitors. Meanwhile locals keep the businesses humming, preserve local landmarks, and conserve open space – more than 43% of the island is protected. Whether you are an islander or a mainlander, you won’t want to miss the chance to explore Block Island from a historic preservation perspective.

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