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DAVID KLEPPER, Associated Press PROVIDENCE, R.I. (AP) — Wary of tax increases, weary of layoffs and determined to avoid bankruptcy, Providence Mayor Angel Taveras had only to gaze up at his city’s Ivy League campus to see a way out of the morass. On College Hill sits Brown University, with a $2.5 billion endowment and property worth an estimated $1 billion. Brown would pay the city $38 million in property taxes each [...] From Bloomberg: Providence (1055MF), Rhode Island’s capital and biggest city, probably will seek bankruptcy court protection to deal with a budget deficit, Robert Flanders, the state- appointed receiver for nearby Central Falls, said yesterday. “I don’t see how they can get out of it without going there,” said Flanders, a former stateSupreme Court justice and a partner at Hinckley, Allen & Snyder LLP in Providence. He put Central Falls into bankruptcy in August and has since [...] |
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