Rising Sun Mills
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Rising Sun Mills will be a complex at 166 Valley Street in Olneyville section of Providence. Armory Revival Co., of Providence, and Struever Bros., Eccles & Rouse, of Baltimore, are the developers who plan to build 151 loft apartments with monthly rents ranging from $700 to $1,600 and 125,000 square feet of commercial space, including offices and retail. |
Rising Sun Tax Stabilization
What it Says Now:
Affordable Housing
20% of units shall go to persons who earn 80% or lower of the Median Family
Income where costs for rent are thirty (30%) percent or less of income.
“Median Family Income” means median family income for the Providence
Metropolitan Statistical Area ($58,000/yr).
Responsible Contractors
Nothing
Employment
The Project Owner shall have the goal of hiring locally and purchasing
supplies locally. Further, there should be an effort so that 20% of the
dollar value of the construction costs go to women and minority contractors,
but there can be no less than 5% awarded.
Rising Sun Oversight
Board
Nothing
What the Community Wants:
In a signed Memorandum of Understanding attached as an addendum to the tax stabilization.
Affordable &
Accessible Housing
We Understand
This is Being Discussed with Olneyville Housing Corporation….
Responsible Contractors
Including an apprentice-training program and an apprentice to journey
level ratio, hospitalization and medical benefits, prevailing wage, appropriate
worker’s compensation insurance coverage, and the bidder must properly
classify employees as employees rather than independent contractors.
Employment
- At least 40% of trade project hours shall go to Providence residents
- At least 40% of trade project hours shall go to people of color and women
- 100% of apprenticeships must go to Providence residents of which 50% must be minorities and women
- There shall be non-discrimination for ex-offenders
- 100% of non-construction jobs created during and post-construction must go to Providence residents unless exempted through the Rising Sun Oversight Board
Minority Contractors
- The Project Owner shall award MBE contractors no less than thirty (30%) percent of the total dollar value of the construction cost for the project and WBE contractors no less than ten (10%) percent of the total dollar value of the construction cost for the project
- The value of supply contracts will only count for 40% of the value of the contract for MBE and WBE requirements
- The Project Owner shall use responsible contractors
- The Project Owner shall have as its goal to use Providence and Rhode Island suppliers
Rising Sun Oversight
Board
The Oversight Board will be composed of 1 appointee by the Mayor, 1appointee
by the City Council President, 1 appointee by City Councilwoman Josephine
DiRuzzo, and 2 appointees of the Olneyville Collaborative. It will meet
monthly for the first two years of the tax stabilization and work with
the with MBE & WBE compliance officer to monitor the implementation
of the stabilization through payroll schedules and inspections
Articles
Providence
Journal - 9/26/03
Providence
Journal - 9/30/03
Providence
Journal - 10/19/03
Providence
Journal - 10/29/03
Providence
Phoenix - 10/3/03
