§ 45-33.4-1. Definitions.
For purposes of this chapter, the following terms shall have the meanings ascribed
to them herein:
(1) "Agency� means the Pawtucket redevelopment agency, established in accordance with
chapter 31 of this title.
(2) "Arts district� means the economic development zone designated as the arts and entertainment
district in the downtown area of the city described in § 44-30-1.1.
(3) "Ballpark district� means the ballpark district of the downtown Pawtucket redevelopment
project area or tax increment master plan, including the ballpark known as McCoy Stadium,
and related facilities and its immediately adjacent parcels within the redevelopment
area approved by the agency in accordance with the procedures set forth in chapters
31, 32, 33, and 33.2 of this title.
(4) "Bonds� means revenue bonds issued by the Pawtucket redevelopment agency or the city
in accordance with the provisions of chapters 31, 32, 33, and 33.2 of this title in
order to finance a project, which bonds may be issued on a tax-exempt or taxable basis,
on a fixed-rate basis or variable-rate basis, or any combination thereof, and may
be issued in one or more sub-series and supported with letters or lines of credit,
liquidity facilities, insurance or other support arrangements including, but not limited
to, interest rate "caps,� "floors,� "collars,� that the agency or city, as issuer,
determines to be necessary or desirable for the purpose of generating savings or managing
interest rates in connection with, or subsequent to, or incidental to the issuance,
carrying, or securing of the bonds.
(5) "City� means the city of Pawtucket, Rhode Island.
(6) "City economic activity taxes� means city incremental tangible asset taxes, hotel
taxes, food and beverage tax revenues, and non-real property assessments from activities
in the arts district, the growth center district, and the ballpark district, as set
forth in the economic activity taxes agreement negotiated by the governor and the
state director of the department of revenue, as described in § 45-33.4-4.
(7) "City tax increment revenues� means revenues generated under chapter 33.2 of this
title that are expected to include incremental real estate property taxes, personal
property taxes, special assessments on real property, and betterment fees generated
in the arts district, the growth center district, and the ballpark district.
(8) "Economic activity taxes agreement� means the agreement by and among the agency, the
city, and the state described in § 45-33.4-4.
(9) "Growth center district� means the growth center district described in a redevelopment
plan or in a tax increment district master plan approved by the agency in accordance
with the procedures set forth in chapters 31, 32, 33, and 33.2 of title 45, which
shall have boundaries as follows: The area beginning at the point of intersection
of Lonsdale Avenue and the Central Falls/Pawtucket line, continuing south on Lonsdale
Avenue until Beecher Street, then heading east, then south, then east on Beecher Street
to Coleman Street, then turning south onto Coleman Street to Carpenter Street, then
heading east onto Carpenter Street to Conant Street, then turning south onto Conant
Street, continuing to Main Street, then turning northeast onto Main Street to Church
Street, then turning east onto Church Street to Pine Street, then turning south onto
Pine Street to South Union Street, then turning east onto South Union Street to Park
Place West, then turning south onto Park Place West to George St, continuing south
onto George Street to Division Street, then turning east onto Division Street to Taft
Street, then turning south onto Taft Street to Max Read Field, turning east at Max
Read Field and crossing the Seekonk River, then turning south along Seekonk River
boundary to the intersection of Berry Spring Street and School Street, continuing
northerly onto School Street to Bowers Street, turning east onto Bowers Street to
Prospect Street, then turning north onto Prospect Street to Interstate 95, turning
northeast onto Interstate 95 to Walcott Street, turning west onto Walcott Street to
Broadway, turning northerly onto Broadway to edge of Interstate 95, continuing north
along the western edge of Interstate 95 to Pawtucket/Attleboro city line, then turning
west at the city line to the Blackstone River, then south along the city boundary
on the Blackstone River, continuing westerly along the city line to the point where
the city line intersects with Lonsdale Avenue.
(10) "Projectâ€� means any project as defined in § 45-33.2-3 or any capital project as defined in § 45-33.2-3.1 within the ballpark district, arts district, or growth center district and shall
include "project costsâ€� as described in § 45-33.2-28, which definition shall apply irrespective of whether the project is described in
a redevelopment plan or in a tax increment district master plan.
(11) "Redevelopment planâ€� means a redevelopment plan as defined in § 45-31-8.
(12) "State� means the state of Rhode Island.
(13) "State economic activity taxes� means incremental tax revenues realized in the arts
district, the growth center district, and the ballpark district assessed and collected
under chapters 11, 18, 19, and 30 of title 44 as set forth in the economic activity
taxes agreement negotiated by the governor and the state director of the department
of revenue; provided, however, that state economic activity taxes shall not include
existing tax revenues unless: 1) The project is to facilitate an expansion of an existing
business that will otherwise be unable to increase the number of full-time employees
in the state; or 2) The commerce corporation certifies in writing that a defined amount
of revenues from the districts collected and assessed under chapters 18, 19, and 30
of title 44 are necessary to finance or complete a given project; 3) The public investments
made under this chapter for a project can be demonstrated to have a likely appreciable
positive impact on the revenues of an existing business within the district; or 4)
The project is necessary to retain a businesses that is at substantial risk of relocating
to a viable location out-of-state as verified by the Rhode Island commerce corporation.
The commerce corporation shall establish, by regulation, the documentation that shall
be required to verify compliance under this subsection. In order to assist the commerce
corporation in verifying compliance, the affected business's chief executive officer,
or equivalent officer, shall attest under oath:
(i) With respect to any portion of a project that is financing municipal or public facilities,
that the project is needed and that the financing of the project is in the public
interest; or
(ii) With respect to any portion of the project providing financing for industrial or commercial
development purposes, that unemployment or the threat of unemployment exists in the
city or that security against future unemployment is required; that the project is
needed; that it will provide employment or security against loss of employment, including
the approximate number of new jobs that should be created or preserved, construction
and nonconstruction, their approximate wage rates, what types of fringe benefits such
as healthcare or retirement benefits there will be; and the projected increase in
personal income taxes to the state of Rhode Island, all having a reasonable relationship
to the probable cost of acquiring, establishing, improving, or rehabilitating the
facilities in which the employment is to be provided or maintained.
(14) "Tax increment district master plan� means a tax increment district master plan as
defined in § 45-33.2-3.1.