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Providence BUILD Act Affordable Housing Tax Stabilization

Sector: Commercial • Location: Providence, Rhode Island, United States

Source: Rhode Island Current

Project
Planned

The Providence BUILD Act is a proposed ordinance to create a new tax stabilization structure for eligible affordable housing developments in Providence. It aims to ease tax burdens during construction by using tax stabilization agreements during the gap between building and occupancy, preventing full property tax bills before units are occupied. The ordinance targets low- and moderate-income restr

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The project “Providence BUILD Act Affordable Housing Tax Stabilization” is an infrastructure initiative in the Commercial sector, located in Providence, Rhode Island, United States. Taiyo aggregates data on it from Rhode Island Current.

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planned

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Description

Description

The Providence BUILD Act is a proposed ordinance to create a new tax stabilization structure for eligible affordable housing developments in Providence. It aims to ease tax burdens during construction by using tax stabilization agreements during the gap between building and occupancy, preventing full property tax bills before units are occupied. The ordinance targets low- and moderate-income restricted housing developments and includes provisions for projects needing significant rehabilitation or mixed residential and commercial projects.

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Source

Source reliability

High

Data quality score

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More Details

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