[Summit] Fwd: Reminder: Providence Tax Stabilization Investment Act (TSA) Workshop

Ethan Gyles ethangy at gmail.com
Mon May 14 12:53:48 CDT 2018

Hi neighbors,

I'm sharing Councilor LaFortune's workshop below. It takes place tomorrow
evening. I encourage folks to attend if possible.

Tax Stabilization Agreements (TSAs) are used frequently for new development
projects in Providence (and cities all over the country). Developers have
long argued that Providence's taxes are too high, and subsequent real
estate revenues too low, such that TSAs establishing lower (or no) taxation
on the project for a number of years are necessary to make development
possible here. I think it's fair to say most Providence elected officials
historically have been amenable to this. It seems that any major
development downtown lands a TSA.

The new proposed TSA ordinance, supported by the Elorza administration, is
the subject of this workshop and one that we've discussed in a couple of
SNA meetings. There is some good background here:

There are some worthy goals here, but a concern that's come up from the
neighborhood association perspective is that the ordinance would not
require public hearings or a City Council vote to approve a proposed TSA.
It would all be done administratively. This would take some oversight and
control away from citizens and our representative on the Council. It's
something I wanted to flag for folks as a potential discussion point for
folks in advance of the workshop.

Ethan Gyles
President, Summit Neighborhood Association

---------- Forwarded message ----------
From: Nirva LaFortune <nirvaward3 at gmail.com>
Date: Mon, May 14, 2018 at 1:06 PM
Subject: Reminder: Providence Tax Stabilization Investment Act (TSA)
To: Ethan Gyles <ethangy at gmail.com>, observatorypvd at gmail.com, Eugene
Monteiro <emonty873 at gmail.com>

*Event: Providence Tax Stabilization Investment Act  (TSA) Workshop*

*Date: Tuesday, May 15, 2018*

*Location: Rochambeau Library*

*Time: 6pm-7:30pm*

*DESCRIPTION: **The purpose of this workshop is to provide residents an
overview of the Providence Tax Stabilization Investment Act and to engage
in an dialogue in order  to hear the concerns of the community .  *

*This proposed TSA ordinance aims to streamline the process through which
businesses receive property tax incentives and broadens the program to
benefit a wider range of small, neighborhood-based businesses throughout
the City.*

Nirva R. LaFortune
Providence City Council,
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