Skyscraper developer gets extension for tax plan
PROVIDENCE, R.I. (AP) — The developer who wants to build a 46-story skyscraper in Rhode Island has been granted a deadline extension for a tax plan.
Jason Fane was supposed to provide the 195 District Commission with a tax-stabilization proposal that would outline how much he plans to pay in property taxes over the next 20 years by Wednesday, but asked for and was granted an extension until Aug. 7.
A Fane spokesman says the extension was requested because the project in Providence is complex and they want to make sure the information it provides to the commission —which is overseeing the project — is accurate.
Fane also asked that the initial deposit on the land be reduced from $250,000 to $1,000. That request was denied.
If built, the tower would be the state’s tallest building.