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Apartment construction booming across US. Why not RI? | Opinion

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Apartment construction booming across US. Why not RI? | Opinion


Cliff Wood is the executive director of The Providence Foundation.

You might not realize it when driving through Providence, but apartment construction is booming throughout the United States. More units will become available in 2023 than in any year since the early 1970s. Cities ranging from Austin to Charlotte to Nashville have seen inventory growth as high as 90%. But there aren’t many cranes over our capital city. By at least one measure, the Ocean State ranks last in the nation. Why?

The problem isn’t a lack of demand. People want to live here — something that cannot be said for many other places across the country. So why haven’t developers erected more homes in Rhode Island, particularly in the places where demand is greatest, like downtown Providence? That question could elicit a range of answers, but the reality comes down to two — one economic and the other strategic.

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More: Rhode Island’s housing crisis is at a breaking point. How did we get here?

The economic challenge revolves around the return a developer gets on any proposed project. Building materials are just as expensive here as they are in Boston, or on Cape Cod — concrete, lumber and the like. The cost of labor is similar as well. But the rents a developer can charge in Providence are a fraction of what he or she will get after constructing the very same unit in, say, Cambridge or Newton, which brings us to the strategic reason development is so often thwarted in Rhode Island: The Ocean State too often neglects to employ the tools that can help to level the playing field to attract investment.

Rents aren’t the only thing that bear on whether a developer chooses to add to a state’s housing supply. Tax burdens, bureaucratic rigmarole and market uncertainty also play a role. If Rhode Island could best Massachusetts on those fronts, developers would surely migrate here. But far from using these tools to level the playing field, Rhode Island is widening the gulf, incenting developers to go elsewhere and leaving renters here to pay the rising rents born from the reality that we don’t have enough housing.

Consider what’s happening in Boston and Providence today. Boston’s mayor is proposing a program that would allow developers who convert commercial buildings into apartments a 75% reduction on their property taxes — so much that, in one example, a building now paying nearly $250,000 in taxes each year would see its bill to the city drop to less than $30,000. Meanwhile, Providence’s City Council is bringing a lawsuit so that the city can renege on a tax agreement they already approved with a local developer building workforce housing downtown, increasing rates that had already been ratified by a judge.

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More: Warren cut the density of a proposed housing project by 38%. Now the town wants to undo that

Put simply, the two capital cities are sending vastly different messages to builders equipped to erect more housing at a time when market conditions already favor Boston. And that’s a shame because Providence can get a lot of development done when it works cooperatively with developers. The successful and popular Farm Fresh project would not have been built if the state and city had refused to reduce the tax burden on the underlying lots.

None of these projects would have been possible without partnership between the public and private sectors — meaning financial incentives for those willing to invest in the Ocean State. But if the government treats builders as pariahs, the Ocean State will lag. When growing demand isn’t met with growing supply, rents rise for ordinary families.

It’s up to Rhode Island’s leaders to find common ground that works for the greater good.

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Rhode Island

California Atty Takes Aim At Rhode Island Cannabis Program – Law360

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California Atty Takes Aim At Rhode Island Cannabis Program – Law360


By Sam Reisman (May 21, 2024, 9:32 PM EDT) — A California lawyer who has challenged state and local cannabis licensure programs across the country is accusing Rhode Island marijuana regulators of designing a plan to award cannabis retail licenses that unconstitutionally discriminates against out-of-state players….

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Social Security Cost Of Living Adjustment 2025: What Rhode Island Residents Can Expect

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Social Security Cost Of Living Adjustment 2025: What Rhode Island Residents Can Expect


RHODE ISLAND — A predicted 3.2 percent 2025 cost-of-living increase for about 71 million Social Security recipients, including about 30,575 people in Rhode Island, may not be enough to keep pace with inflation, according to advocates.

The federal government won’t make a decision on the COLA, as the cost-of-living adjustment is known, until October. Under current government estimates, the COLA would be about 2.6 percent, as it had been for about 20 years before last year’s 3.2 percent increase. The final amount hinges on inflation.

Mary Johnson, an independent Social Security and Medicare analyst who formerly worked for the nonprofit Senior Citizens League, believes the COLA will fall around 3.2 percent. She revised the prediction after April inflation data showed consumer prices were 3.4 percent higher than a year earlier, but down slightly from March’s 3.5 percent inflation rate.

Johnson told MarketWatch that even as inflation cools from two-decade highs, all consumers are still feeling less buying power. But increases in some sectors — including housing, up 5.5 percent, electricity, up 5.1 percent and medical care, up 2.7 percent — hit older adults harder, Johnson said.

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Even with the increase in 2024 benefits, older Americans’ buying power increased only marginally.

In a statement, Senior Action League executive director Shannon Benton said the 2024 increase only marginally increased older Americans’ buying power. The average benefit increased by about $50, “and after subtracting $9.80 to cover Medicare Part B premium increases, the total change in benefits came to just $40.20 a month.”

Unless the adjustment is increased, “it appears seniors will continue to suffer financial insecurity as much next year as they have this year,” Benton said.

“While COLA payments will increase to offset the effects of inflation, the problem many have with the potential percentage jump is it won’t get far enough to meet most of the financial needs of seniors,” Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek.

“Obviously,” he said, “daily expenses for this age group continue to rise, but the uptick in health care costs are putting an additional strain on them, and COLA payments may not be enough to match that uptick.”

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About 71 percent of older Americans who responded to a 2024 survey by The Senior Action League said household costs have exceeded the 3.2 percent increase in benefits.

“The majority of seniors still feel like their costs are rising faster than those annual adjustments,” Michael Ryan, a finance expert and founder and CEO of michaelryanmoney.com, told Newsweek. “So while the COLA certainly helps, it often still doesn’t fully cover the real inflation draining seniors’ buying power.”

According to AARP, 40 percent of Americans 65 and older rely on Social Security for half of their income, and about 14 percent of them rely on benefits for 90 percent of their income.

Have a news tip? Email jimmy.bentley@patch.com.



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Let’s change the way we look at our food scraps in Rhode Island – The Boston Globe

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Let’s change the way we look at our food scraps in Rhode Island – The Boston Globe


When you eat an apple, you can do one of two things with the core. You can put it in your garbage can and it will likely end up in Johnston, at Rhode Island’s Central Landfill. There, it will be buried among tons of other organic and non-organic waste. It will break down in the absence of oxygen to release methane, a greenhouse gas that is 28 times as damaging to the climate as carbon dioxide.

Or, you can compost that apple core. Instead of filling up the landfill, it will be converted into a nutrient-rich and valuable product. Instead of contributing to climate change, it can be used to enrich your local soils.

Every day we are mostly choosing that first option here in Rhode Island. And it’s not just an apple core — we are paying millions to haul and dump thousands of pounds of food scraps in our quickly filling landfill.

Compostable material including food scraps accounts for 33 percent of the waste we dump in the landfill. If we keep doing what we’re doing, our landfill will reach capacity and be forced to close by 2046. When that happens, the price we all pay to throw out our trash will increase exponentially as we are forced to ship our waste out of state.

Our neighbors in Massachusetts have already had to go this route, at significant taxpayer cost. Rhode Islanders enjoy the lowest costs in New England to throw out our trash and we want to keep it that way. Extending the life of the landfill is the best way to keep our costs down – and investing in composting is an essential part of that.

That’s why we recently proposed new legislation that aims to fund composting and organic waste diversion programs with just a $2 per ton surcharge on the trash we send to the landfill, a strategy that is already working in 12 other states. The money generated from that small fee will go right back into our cities and towns through a grant program, funding things like compost facility builds, curbside service for residents, and organic waste diversion education.

Reducing food waste dumped in the landfill will bring down waste hauling costs on our cities and towns, and that small surcharge will quickly result in savings. Composting is an affordable, scalable solution to our waste crisis that we should be implementing in every community, and this program will put us on the right track.

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In 2023, municipalities in Rhode Island spent over $23 million to landfill over 350,000 tons of waste. Imagine if we removed a third of those totals from the equation!

Cutting down on waste not only extends the life of our only landfill, it’s also good climate and economic policy. Let’s change the way we look at our food scraps. Instead of turning them into polluting garbage, let’s give them a second life enriching our soils. Let’s provide our communities with common-sense, long-term solutions that are cost effective and sustainable in every sense of the word. The action we take now will pay dividends for decades to come.

Senator Bridget Valverde, a Democrat representing parts of East Greenwich, North Kingstown and South Kingstown, and Representative Terri Cortvriend, a Democrat representing parts of Portsmouth and Middletown, are the sponsors of the Composting and Organic Waste Diversion Act (S 2753 / H 7856).






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