Providence Place Mall officials are asking the city council for a second twenty-year tax treaty.
The mall would pay four-and-a-half-million-dollars a year.
The city council took no immediate action instead opting for additional conversation on how a new look mall would look.
"The talk are an important first step in what I believe to be lengthy discussions on the future of this vital and valuable piece of real estate in the capital city,” said Councilwoman Jo-Ann Ryan (Ward 5), Chair of the Finance Committee. “There’s no question that the retail industry has dramatically changed since the pandemic hit. We heard from residents and directly from representatives of Providence Place about their challenges and needs going forward, which involves reinventing and modernizing this significant space downtown. No one wants to see the mall at the center of our city deserted and a burden to taxpayers, but any change to the tax treaty must include robust discussions that result in a fiscally responsible and fair plan for the city of Providence.”
Developers also unveiled revitalization plans at the meeting including new restaurants and entertainment venues to fill vacant spaces in the mall.
(Photo by JEWEL SAMAD/AFP via Getty Images)