§ 44-4.2-2 - Declaration of necessity. - Rhode Island Statutes

SECTION 44-4.2-2

   § 44-4.2-2  Declaration of necessity.– Latest surveys in the city of Pawtucket indicate a sizeable number of historicindustrial mill buildings, which are unutilized or underutilized and a growingneed to provide affordable residential housing for the residents of the city.Inability to provide this housing through the conventional free market forceshas magnified the problem to a degree, which mandates immediate action. Economyand efficiency dictate that the most desirable method for dealing with thisshortage is to convert unutilized and underutilized historic mill buildings foruse as affordable residential housing through a cooperative partnership oflocal municipal tax authorities, building owners, and private sector lendinginstitutions.