Bruce Newbury
Bruce Newbury
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1540 WADK.com Updates

Council Panel To Weigh Hotel Proposal

The Providence City Council's Finance Committee will gather this week to consider a proposal to place a new hotel where the vacant Fogarty Building stands.  A developer is seeking to pay no property taxes in the first three years.  The developer will pay eleven-percent in the fourth year, with eleven-percent increases until year 13 when full taxation would begin.  The building was built in 1968 and closed in 2003, and has been the subject of several redevelopment proposals since then.

 

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