Latest surveys in the city of Pawtucket indicate a sizeable number of historic industrial
mill buildings, which are unutilized or underutilized and a growing need to provide
affordable residential housing for the residents of the city. Inability to provide this housing through the conventional free market forces has
magnified the problem to a degree, which mandates immediate action. Economy and efficiency dictate that the most desirable method for dealing with this
shortage is to convert unutilized and underutilized historic mill buildings for use
as affordable residential housing through a cooperative partnership of local municipal
tax authorities, building owners, and private sector lending institutions.
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