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Committee holds Foster tax-agreement discussion, asks for additional fiscal detail before action
Summary
Councilors discussed a proposed 10-year tax agreement between the Providence Water Supply Board and the town of Foster covering watershed lands; members asked for more financial analysis on the deal’s fiscal impact and voted to continue the item for more information.
The committee considered a proposed 10-year tax agreement among the Town of Foster, the Providence Water Supply Board (an enterprise fund), the Providence Public Buildings Authority and the City of Providence that would fix annual payments for certain watershed properties for the next decade.
A staff presenter said the agreement would set annual payments in the range provided in the packet (the speaker cited figures between about $402,950 and $573,005.34, depending on parcels…
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