[Summit] Alert:tax deal for Gilbane's Thayer St project

[Gayle Gifford]

I received this alert from the Save College Hill group
http://signon.org/sign/save-college-hill?source=s.icn.em.cr&r_by=979931&mail
ing_id=7007 . I would guess that sending both the mayor
mayor at providenceri.com and Kevin Jackson  ward2 at providenceri.com would be a
good idea. I'm pretty surprised the City would be giving a tax incentive to
a project that was not well received in the neighborhood overall. 


"Dear Friends:

The Ways and Means Committee of the City Council will be considering on
Tuesday, November 20 at 6:00 p.m. in City Hall, the proposed tax agreement
between the City of Providence and Gilbane for the development of the
student apartment complex on College Hill.  You can read the proposed
agreement at http://tinyurl.com/bqqa5vw Originally, it was thought that this
development would reap $700,000 in additional taxes for the City.  As you
can see, the proposed agreement maxes out at $350,000 at year 4, with an
additional 5% each year thereafter.  Far short of the $700,000.
Councilman Sam Zurier sits on the Ways and Means Committee.  If you feel as
I that the City should not negotiate and provide a tax incentive on one of
the most desireable development parcels in the City, please let him know
immediately at samforcouncil at verizon.net."


****************************************
Gayle L. Gifford, ACFRE
President
Cause & Effect Inc. R
gayle at ceffect.com
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