Rhode Island General Laws Title 42. State Affairs and Government § 42-64.14-2. Findings

(a) The relocation of interstate route 195 within the city of Providence has resulted in the creation of surplus parcels of land available for sale and commercial, institutional and residential development and beneficial reuse, including without limitation to support or encourage workforce development, education and training, and the growth of “knowledge based” jobs and industries such as research and development, life sciences, media technologies, entrepreneurship and business management, design, hospitality, software design and application, and a variety of other uses consistent with a knowledge based economy;

(b) Use of the anticipated proceeds from the sale of the I-195 surplus land is a key element of the plan of finance for completion of the I-195 relocation project, and vital to making the land usable for future development.

(c) The city of Providence comprehensive plan and various other studies, plans and reports that are a matter of public record support the use of portions of the city of Providence's jewelry district and portions of the surplus land created by the relocation of interstate route 195 for development that is benefited by close proximity to universities, hospitals, and medical schools for the development with and by such institutions of facilities (including without limitation a hotel and/or conference center and academic, medical, research and development, commercial, residential, and parking facilities) to support the growth of a knowledge based economy;

(d) Several of the parcels that will become available for beneficial reuse as a result of the relocation of interstate route 195 are located adjacent to or in the vicinity of properties owned and operated by institutions of higher education;

(e) Plans are being developed by institutions of higher education for use and development of parcels that will be made available by the relocation of interstate route 195; and

(f) The sale or lease of all such surplus parcels of land at fair market value, and the re-use and development of such parcels will be beneficial to the city of Providence and the state and advantageous to the public interest.