Providence

Lots of detail about a proposed settlement negotiated between Providence Mayor Angel Tavares and the heads of the city’s employees’ unions is available from WPRI-TV‘s (CBS 12) Ted Nesi and Tim White, including provisions like this one…Going forward, pensions will max out based on the same equation as the COLA freeze: either 150% of the…

According to a Ted Nesi article on WPRI.com yesterday, Providence will be receiving a $5 million advance from Johnson & Wales University (JWU) immediately. Back in February, JWU agreed to commit $6.4 million to the city over the next 10 years. What also makes this interesting is the city’s explanation on what they’ll do with…

According to multiple reports today, two Providence Councilors, John Igliozzi and Terry Hassett now are seeking to amend the ordinance that the City Council just voted on a few days ago, to now lessen the cuts by $3-4 million. From the RINPR blog: “I am acting in what I believe to be a much fairer…

Further evidence we’re on the cutting edge of history here in Rhode Island — The municipal pension changes proposed by Mayor Angel Tavares have already made the Economist (that’s the famous British periodical, not some blogger with that handle)…Thus this week’s ordinance, in which the city suspended the cost-of-living adjustments (COLAs) by which pensions are…

Last night, the Providence City Council voted to approve substantive, though compared to the shortfall, modest, pension reform. At the meeting, an irate firefighter demanded to know Can you tell us what the rush is? Today, Standard & Poor’s supplied the answer. S&P lowered Providence’s credit rating to BBB, two steps from junk-bond status, from…

Rhode Island’s Twitter corps has once again provided the public with excellent as-it’s-happening coverage of public developments in Providence’s fiscal crisis, in this case the meeting held this morning between Providence Mayor Angel Taveras and city retirees. Here’s a brief compilation that captures the flavor of the meeting… Ted Nesi (WPRI, CBS 12): The Taveras…

An Ian Donnis story has been picked up by the nationally broadcast NPR programmers. The battle of the struggling city, with its socially mobile mayor, and the liberal Ivy League school is, not surprisingly, of broader interest than just to those within Donnis’s usual broadcasting range. Viewed from the other side of the political street…

I don’t think that I can add much to the story in Sunday’s Providence Journal about what looks like an attempt at “pay for play“. Sam Zurier, the Councilman from Providence’s Second Ward (East Side) is alleged to have been trying to shake down a couple of constituents for a campaign donation after he got…

GoLocalProv did some very good research last June. Just over half of all taxes collected in Providence in 2010 were owed to pensions and benefits for all city retirees—sucking money away from basic services and adding to the property tax burden, according to new data obtained by GoLocalProv. Now, local taxes do not comprise the…

As Andrew mentioned, Providence Mayor Angel Taveras held a press conference this morning and painted a grim picture for Providence unless some remedies are found to close the budget gap. Ian Donnis summarizes – Taveras says the city is pursuing an expedited state Supreme Court review of Super Court Judge Sarah Taft-Carter’s decision barring the…