Rhode Island General Laws Title 44. Taxation § 44-4.2-2. Declaration of necessity

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.