PROVIDENCE, R.I. -- Thirty-two of 41 applicants for a revived state historic tax credit program are assured of getting the tax breaks they are seeking if they obtain the permits and approvals needed to participate in the program.
They were the fortunate ones Tuesday in a random drawing that determined the funding priority for the 41 applications that were submitted on August 1.
The state has $34.5 million in credits to award under a limited revival of the program -- the value of the credits that had been abandoned from the old program, frozen in 2008 over concerns about costs.
State officials did not identify the projects, but developers at the meeting said the 32 proposals that could be funded before the $34.5 million is spent include at least 11 projects in Providence, including five in the downtown, and others in Pawtucket and West Warwick.