NAICU - Harvard’s Voluntary Tax Spurs Ailing Providence to Press Brown

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Harvard’s Voluntary Tax Spurs Ailing Providence to Press Brown

Bloomberg Businessweek

February 8, 2012

Rhode Island Governor Lincoln Chafee last week intervened to restart talks over Brown University's so-called payments in lieu of taxes after Mayor Angel Taveras said Providence was about to run out of cash. Providence is seeking to emulate Boston, which is on pace to raise collections in lieu of taxes from Harvard University and other institutions by 25 percent to about $19 million this year, city documents show. Mayor Thomas M. Menino is trying to double the number of schools, hospitals and cultural institutions that pay by pressing more than 20 that gave nothing last year.

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