Special Committee on Ways & Means-Thursday, June 11, 2026-6:00 o'clock P.M.

The Providence City Council Special Committee on Ways & Means convened on June 11, 2026, to discuss several ordinances related to affordable housing and tax policies. The committee reviewed and approved an ordinance amending the city code to clarify eligibility for the 8% tax treatment on low-income housing, aligning it with state law and preserving existing tax benefits for qualifying properties. This ordinance aims to ensure fair taxation and prevent misuse of tax incentives by non-qualifying properties. Additionally, the committee approved the Providence Build Act, a tax stabilization ordinance designed to support affordable housing construction by providing a two-year tax stabilization period during development, including provisions for mixed-use projects and homeownership. The meeting also included a resolution endorsing state legislation to accelerate property taxation, with discussions on its legislative progress. Motions to approve the ordinances as amended were passed unanimously, reflecting the council's commitment to supporting affordable housing development while maintaining fiscal responsibility.