PROVIDENCE, R.I. (AP) - The Rhode Island Commerce Corp. has approved a round of tax incentives aimed at helping to develop a $55.2 million hotel project.
The incentives approved by the quasi-state agency Monday include $6.75 million in tax increment financing and $100,000 in Rebuild Rhode Island tax credits. The Providence Journal reports that the hotel would be 6,300 square feet, seven stories and have 169 guest rooms, and a rooftop bar.
Officials say the project is expected to create 347 construction jobs and 118 permanent jobs.
Rhode Island Commerce Secretary Stefan Pryor tells the corporation board that developer CV Properties is expected to ask the I-195 Redevelopment District Commission for a $750,000 investment in the project.
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