Welcome! Login | Register
 

Russ Moore: Sorry Raimondo, Summits Won’t Fix Our Economy—Russ Moore: Sorry Raimondo, Summits Won't Fix Our…

Dr. Downtown, David Brussat: Hard to Out-Edge Providence—Last month, Travel + Leisure ranked Providence No.…

PODCAST: Brown Grads Dominating Business in the United States—PODCAST: Brown Grads Dominating Business in the United…

Pats Escape New York With 17-16 Win—Patriots Win in New York, Clinch first round…

Smart Benefits: CMS Issues Proposed Rule on Definition of Spouse—This month, the Centers for Medicare and Medicaid…

Small Biz in A Digital Age: Cross-Promoting—The world of business is moving faster --…

Starks Jumper with 1.3 Seconds Left Lifts Bryant Over Denver, 48-46—Starks lifts Bryant over Denver, 48-46

RI Health Department Releases 10 Food Safety Tips for the Holidays—The Rhode Island Health Department (HEALTH) has released…

Sky Chiefs Bounce Back, Roll Spirit 119-109—Sky Chiefs bounce back with 119-109 win over…

NEW: RWU Moving into Former 38 Studios Offices in Providence—Roger Williams University has agreed to a 12-year…

 
 

slides: Current Tax Stabilization Agreements in Providence

Monday, April 14, 2014

 

In January 2014, the City of Providence's Internal Auditor Matthew Clarkin prepared a report on the "Analysis of Tax Stabilization Agreements in Providence."

The following are the 36 properties reviewed in the report.

The total assessed valuation of TSA property in the city as of December 31, 2012 was $429.5 million.

In tax year 2013, total payments were $5.2 million

 

Related Slideshow: Current Tax Stabilization Agreements in Providence

Prev Next

130 Westminster St.

The Arcade - 103 Westminster St. Associates, LLC

Approval Date: 12/31/2012

Assessed Valuation: $1,826,200

Actual Tax Prior to TSA: $44,137

2013 True Tax: $67,113

2013 Stabilized Tax Payment: $16,742

Tax Status: Current

End Date of Agreement: 12/31/2022

Prev Next

122 Fountain St.

Sportsman Inn - HM Ventures, LLC

Approval Date: 4/20/2012

Assessed Valuation: $1,607,800

Actual Tax Prior to TSA: $77,010

2013 True Tax: $59,087

2013 Stabilized Tax Payment: $9,601

Tax Status: Past Due

End Date of Agreement: 12/31/2022

Prev Next

244 Oak St. + 33 Magnolia St.

Roger Williams Brewery, LLC

Approval Date: 1/1/2012

Assessed Valuation: $496,800

Actual Tax Prior to TSA: N/A

2013 True Tax: $18,257

2013 Stabilized Tax Payment: $18,140

Tax Status: Past Due

End Date of Agreement: 12/31/2024

Prev Next

1 AT&T Plaza

Hasbro - Empire LaSalle, LLC

Approval Date: 7/1/2012

Assessed Valuation: $25,092,400

Actual Tax Prior to TSA: $547,553

2013 True Tax: $922,146

2013 Stabilized Tax Payment: $47,568

Tax Status: Current

End Date of Agreement: 12/31/2024

Prev Next

100 Weybosset St.

Providence G Building - Providence Capital, LLC

Approval Date: 3/20/2012

Assessed Valuation: $2,575,400

Actual Tax Prior to TSA: $129,610

2013 True Tax: $94,609

2013 Stabilized Tax Payment: $32,557

Tax Status: Current

End Date of Agreement: 7/1/2025

Prev Next

11 Dorrance St.

The Biltmore

Approval Date: 3/15/2012

Assessed Valuation: $20,162,400

Actual Tax Prior to TSA: $694,575

2013 True Tax: $740,698

2013 Stabilized Tax Payment: $124,506

Tax Status: Past Due

End Date of Agreement: 12 Years from Commencement

Prev Next

1 Park Row West

Johnston & Wales University Dorms - Capitol Cove, LLC

Approval Date: 3/11/2005

Amendment Date: 3/8/2010

Assessed Valuation: $2,252,500

Actual Tax Prior to TSA: $518,247

2013 True Tax: $82,779

2013 Stabilized Tax Payment: $968,606

Tax Status: Current

End Date of Agreement: 12/31/2023

Prev Next

125 Washington St.

Mercantile Block Assoc., LLC

Approval Date: 11/16/2009

Assessed Valuation: $1,758,000

Actual Tax Prior to TSA: $59,851

2013 True Tax: $64,607

2013 Stabilized Tax Payment: $34,248

Tax Status: Current

End Date of Agreement: 12/31/2020

Prev Next

1 Sims Ave.

Milhaus LLC - The Steel Yard

Approval Date: 1/8/2007

Assessed Valuation: $323,400

Actual Tax Prior to TSA: N/A

2013 True Tax: $11,885

2013 Stabilized Tax Payment: $19,641

Tax Status: Current

End Date of Agreement: 12/31/2016

Prev Next

60 Valley St.

60 Valley St. LLC (c/o Armory Revival)

Approval Date: 9/26/2006

Assessed Valuation: $2,797,000

Actual Tax Prior to TSA: $14,333

2013 True Tax: $102,790

2013 Stabilized Tax Payment: $11,730

Tax Status: Current

End Date of Agreement: 12/31/2016

Prev Next

160 Niantic Ave.

160 Niantic Ave. Morvco Realty LLC

Approval Date: 5/27/2004

Assessed Valuation: $1,305,300

Actual Tax Prior to TSA: $50,612

2013 True Tax: $47,970

2013 Stabilized Tax Payment: $38,550

Tax Status: Current

End Date of Agreement: 12/31/2015

Prev Next

50 Holden St.

Promenade Building Assoc. - The Foundry

Approval Date: 5/17/2004

Assessed Valuation: $4,238,200

Actual Tax Prior to TSA: $42,802

2013 True Tax: $155,754

2013 Stabilized Tax Payment: $104,814

Tax Status: Current

End Date of Agreement: 12/31/2015

Prev Next

21 Gordon Ave.

South Providence Development Corp. (Keith Fernandez)

Approval Date: 1/16/2004

Assessed Valuation: $1,042,600

Actual Tax Prior to TSA: $5,708

2013 True Tax: $38,316

2013 Stabilized Tax Payment: $10,984

Tax Status: Past Due

End Date of Agreement: 12/31/2016

Prev Next

10 Memorial Blvd.

GTECH Corp. Headquarters

Approval Date: 7/15/2003

Assessed Valuation: $54,767,800

Actual Tax Prior to TSA: $236,619

2013 True Tax: $2,012,717

2013 Stabilized Tax Payment: $1,100,000

Tax Status: Current

End Date of Agreement: 12/31/2026

Prev Next

65 Eddy St.

Peerless Lofts

Approval Date: 11/22/2002

Assessed Valuation: $12,843,700

Actual Tax Prior to TSA: $80,100

2013 True Tax: $472,006

2013 Stabilized Tax Payment: $33,407

Tax Status: Current

End Date of Agreement: 12/31/2016

Prev Next

235 Promenade St.

Promenade Building Assoc. - The Foundry

Approval Date: 11/22/2002

Assessed Valuation: $15,810,300

Actual Tax Prior to TSA: $58,201

2013 True Tax: $581,029

2013 Stabilized Tax Payment: $30,345

Tax Status: Current

End Date of Agreement: 12/31/2015

Prev Next

236 Westminster St.

Alice Building LLC c/o Cornish Associates

Approval Date: 12/28/2001

Assessed Valuation: $3,680,500

Actual Tax Prior to TSA: $25,531

2013 True Tax: $135,258

2013 Stabilized Tax Payment: $13,439

Tax Status: Current

End Date of Agreement: 12/31/2014

Prev Next

100 Providence Place

The 903

Approval Date: 12/21/2001

Assessed Valuation: $68,573,700

Actual Tax Prior to TSA: $200,000

2013 True Tax: $2,520,083

2013 Stabilized Tax Payment: $620,474

Tax Status: Current

End Date of Agreement: 12/31/2015

Prev Next

95 Chestnut St.

Hacht Development, LLC

Approval Date: 4/15/2012

Assessed Valuation: $3,091,300

Actual Tax Prior to TSA: $110,665

2013 True Tax: $113,605

2013 Stabilized Tax Payment: $20,453

Tax Status: Past Due

End Date of Agreement: 12/31/2022

Prev Next

265 Oxford St.

Institute for Non-Violence

Approval Date: 1/1/2012

Assessed Valuation: $1,393,700

Actual Tax Prior to TSA: $32,928

2013 True Tax: $51,218

2013 Stabilized Tax Payment: $1,000

Tax Status: Current

End Date of Agreement: 12/31/2021

Prev Next

145 Globe St.

Victory Square - JAG Investment Realty, LLC

Approval Date: 7/18/2011

Assessed Valuation: $7,234,800

Actual Tax Prior to TSA: $294,485

2013 True Tax: $265,879

2013 Stabilized Tax Payment: $252,750

Tax Status: Current

End Date of Agreement: 12/31/2013

Prev Next

25 Eagle St.

Butcher Block Mill, LLC

Approval Date: 1/1/2011

Assessed Valuation: $590,500

Actual Tax Prior to TSA: $23,469

2013 True Tax: $21,701

2013 Stabilized Tax Payment: $11,431

Tax Status: Current

End Date of Agreement: 12/31/2023

Prev Next

50 Agnes St.

50 Agnes, LLC

Approval Date: 1/1/2012

Assessed Valuation: $521,800

Actual Tax Prior to TSA: $21,422

2013 True Tax: $19,176

2013 Stabilized Tax Payment: $16,807

Tax Status: Current

End Date of Agreement: 12/31/2024

Prev Next

103 Dike St.

Music House, LLC - Fete

Approval Date: 1/1/2012

Assessed Valuation: $589,700

Actual Tax Prior to TSA: $17,555

2013 True Tax: $21,671

2013 Stabilized Tax Payment: $5,417

Tax Status: Current

End Date of Agreement: 12/31/2024

Prev Next

41 Central St.

Yet Another LLC - Art Recreation Center

Approval Date: 4/16/2007

Assessed Valuation: $287,100

Actual Tax Prior to TSA: $12,879

2013 True Tax: $10,551

2013 Stabilized Tax Payment: $5,862

Tax Status: Past Due

End Date of Agreement: 12/31/2024

Prev Next

200 Allens Ave.

200 Allens Ave. LLC (Capstone Properties)

Approval Date: 1/8/2007

Assessed Valuation: $1,834,300

Actual Tax Prior to TSA: $74,754

2013 True Tax: $67,411

2013 Stabilized Tax Payment: $23,537

Tax Status: Past Due

End Date of Agreement: 12/31/2016

Prev Next

35 Hylestead St.

65 Pavillion LLC

Approval Date: 8/1/2005

Assessed Valuation: $675,500

Actual Tax Prior to TSA: $13,345

2013 True Tax: $24,825

2013 Stabilized Tax Payment: $9,752

Tax Status: Current

End Date of Agreement: 12/31/2016

Prev Next

203 Weybosset St.

Zampalis Realty (Zampalis Realty LLC)

Approval Date: 8/1/2005

Assessed Valuation: $547,900

Actual Tax Prior to TSA: $12,565

2013 True Tax: $20,135

2013 Stabilized Tax Payment: $31,300

Tax Status: Current

End Date of Agreement: 12/31/2024

Prev Next

166 Valley St.

Rising Mills Project (166 Valley St. LLC, Struever Bros)

Approval Date: 12/1/2003

Assessed Valuation: $16,749,900

Actual Tax Prior to TSA: $91,763

2013 True Tax: $615,559

2013 Stabilized Tax Payment: $80,535

Tax Status: Current

End Date of Agreement: 12/31/2011

Prev Next

100 Exchange St.

Intercontinental Fund IV F/K/A Cap Hill Prop

Approval Date: 1/16/2004

Assessed Valuation: $107,237,400

Actual Tax Prior to TSA: $1,888,763

2013 True Tax: $2,910,464

2013 Stabilized Tax Payment: $1,086,829

Tax Status: Current

End Date of Agreement: 12/31/2023

Prev Next

5 Avenue of the Arts

Masonic Temple - RP Providence Owner LLC

Approval Date: 7/15/2003

Assessed Valuation: $45,974,100

Actual Tax Prior to TSA: $79,072

2013 True Tax: $1,689,548

2013 Stabilized Tax Payment: $215,843

Tax Status: Current

End Date of Agreement: 12/31/2025

Prev Next

532 Kinsley Ave.

Monahasset Mills LLC

Approval Date: 11/22/2002

Assessed Valuation: $10,857,600

Actual Tax Prior to TSA: N/A

2013 True Tax: N/A

2013 Stabilized Tax Payment: $12,836

Tax Status: Credit

End Date of Agreement: 12/31/2017

Prev Next

210 Westminster St.

Harrisburg Assoc. LLC and Lerner Assoc. LLC

Approval Date: 11/8/2002

Assessed Valuation: $1,188,300

Actual Tax Prior to TSA: $19,404

2013 True Tax: $43,670

2013 Stabilized Tax Payment: $6,349

Tax Status: Current

End Date of Agreement: 12/31/2016

Prev Next

220 Westminster St.

Harrisburg Assoc. LLC and Lerner Assoc. LLC

Approval Date: 11/8/2002

Assessed Valuation: $2,004,800

Actual Tax Prior to TSA: $10,302

2013 True Tax: $73,676

2013 Stabilized Tax Payment: $10,302

Tax Status: Current

End Date of Agreement: 12/31/2016

Prev Next

100 Fountain St.

Steelwood (Palmer Building) (LAF Realty LLC Inc.)

Approval Date: 4/25/2002

Assessed Valuation: $503,300

Actual Tax Prior to TSA: $48,935

2013 True Tax: $18,496

2013 Stabilized Tax Payment: $22,970

Tax Status: Past Due

End Date of Agreement: 12/31/2016

Prev Next

77 Reservoir Ave.

Mashpaug Associates LLC

Approval Date: 11/9/2001

Assessed Valuation: $6,953,300

Actual Tax Prior to TSA: $113,538

2013 True Tax: $255,534

2013 Stabilized Tax Payment: $108,829

Tax Status: Current

End Date of Agreement: 12/31/2015

 
 

Enjoy this post? Share it with others.

 
 
:)