Committee approves tax treaty for Women's Care

Committee approves tax treaty for Women's Care

PAWTUCKET - The Pawtucket City Council Finance Committee last week approved a tax treaty with the developer of a new medical building on the riverfront.

The committee, led by Councilor John Barry, made a change to the deal Dr. Pablo Rodriguez had been seeking, which would have given him six years of tax breaks on the former Tire Pro property at 21 Division St.

Instead, the committee approved five years of lower taxes once the project is completed in December of 2014. In the sixth year, the tax bill will jump more than $15,000 to $72,568, the full taxable amount.

After the unanimous vote last week, the Division Street project will now go to the full City Council for approval.

Barry had been reluctantly in favor of the project, which would bring a Women's Care facility and Performance Physical Therapy Center, along with a promise of more than 70 jobs, to the downtown area near the Pawtucket River Bridge. The councilman told The Breeze for a story last week that Pawtucket buy the property and officials market it along with the property the city owns next door at 45 Division St. City officials are now seeking proposals for the property at 45 Division St., the former site of the failed Division Street Hotel project.

Partners in the Rioview Group LLC formed to purchase the 18,500-square-foot property at 21 Division St. on July 13. The value of the group's new Pawtucket building when completed will be $2.35 million. With a base tax of $20,399 now in place, that new amount represents a jump of $52,168 in property taxes by the sixth year after the project is completed.