Council approves tax exemption for Josie Caprio apartments, citing 54 affordable units

The Providence City Council voted to approve a tax‑exempt status for the Josie Caprio apartments, a development the council said will add 54 affordable units reserved for low‑ and moderate‑income households.

Deputy Majority Leader Harris explained the proposal during debate on item 24, saying the project was intended to receive an 8% tax treatment and that pandemic‑era construction delays increased its property tax burden. Harris told colleagues the development reserves apartments for families earning as little as 30% of area median income and said the project is led by Omni Development Corporation, described in the remarks as a majority women‑of‑color developer from Providence.

Council members discussed the finance committee’s review and endorsements and then approved the measure on a roll call vote, with the clerk announcing 13 ayes and two members absent. The motion was presented as a tax‑exemption approval to support the production of affordable housing; no new direct city subsidy or budget appropriation was recorded in the excerpt.

Supporters said the exemption aims to preserve affordable housing options and recognize developers investing in deeply affordable units; the finance committee was credited in the record for its work vetting the proposal. The ordinance or resolution text was not read into the portion of the transcript provided; the clerk announced the recorded vote and result.

The council’s action authorizes the tax exemption as stated on the meeting agenda; implementation and any follow‑up reporting would be handled through the finance committee and city tax administration as customary.