Smiley signs new PILOT agreement with city, colleges

PROVIDENCE, R.I. (WLNE) — Providence Mayor Brett Smiley on Thursday signed an agreement with the city’s four major higher education institutions.

The city reached an agreement on a new Payment In Lieu of Taxes, or PILOT program, with Brown University, Providence College, Rhode Island School of Design, and Johnson & Wales University.

The plan was passed by the City Council earlier this month.

“This historic agreement more than doubles the voluntary payments Providence will receive from these institutions, making Providence a national leader in redefining how tax-exempt entities and communities can collaborate,” he said. “Most importantly, the financial contributions from this agreement will help ensure Providence can continue to provide the highest-quality city services we all deserve for years to come.”

Smiley said the voluntary payments to the city from the PILOT agreement will reach $223 million over the next 20 years.

The agreement also establishes further collaboration between the city and the colleges to support the community and enhance the quality of life.