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Nice Little School You Got There…

Shame if anything happened to it.

The mayor of Providence, R.I., on Wednesday announced a deal with Johnson & Wales University under which the institution would more than triple its voluntary payments to the financially struggling city, to at least $958,000 a year, the Associated Press reported. The deal is subject to City Council approval. The mayor, Angel Taveras, has asked the city’s largest tax-exempt institutions, including Brown University, to significantly increase the amounts they pay in lieu of property taxes. Mayor Taveras wants more than $40-million more from Brown over the next 10 years. He met with Brown’s president, Ruth Simmons, on Wednesday and called those discussions positive.

Rhode Island has had problems keeping its spending in check since the Articles of Confederation.  I’d like to see the number of times politicians in Providence and Rhode Island have praised tax breaks and subsidies for public universities as necessary for the engine of economic growth, and pointed to their private universities with pride.  If ever there were negotiations that ought to be open to the public, these are them.

Posted in Economics.

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