I’m following the developments on this on Twitter, here’s some of the news coming in:
Press release from the City added to end of post.
- Mayor making headway with tax-exempts [WPRI]
Taveras announced a tentative deal with Johnson & Wales University at a news conference on Wednesday. Under the agreement, instead of paying taxes, the university will give the city $6.4 million, with the possibility of an additional $5 million over a 10-year period.
Taveras announces JWU more than tripling contrib. It is at least $958K annually w/ potential for up to $1.45M annually. Council must OK.
— Erika Niedowski (@eniedowski) February 15, 2012
Adding current payments and potential..could be 14.5 mill over 10 yrs.
— bill rappleye (@NBC10_Bill) February 15, 2012
.@Angel_Taveras says he’s more positive than a week ago on getting planned 7m from tax-exempts
— Ian Donnis (@IanDon) February 15, 2012
Will add more information as it comes in.