2014 Government Regulations & Business Summit
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By PBN Staff
The Providence City Council is expected next month to consider the Abandoned Property Registration, Security and Maintenance ordinance, which strengthens local efforts to fix up so-called nuisance properties. The ordinance would be the first of its kind in the state if approved. It would create a series of fees and fines designed to prevent residential properties from staying vacant or falling into disrepair.
Commercial properties are not covered under the proposal.
Supporters say it creates a financial incentive for property owners not to let buildings fall into disrepair. Others worry the ordinance could slow the foreclosure process and affect lending in hard-hit neighborhoods.
What do you think?