“I am disappointed in the decision of the Finance Committee which voted on Monday to move forward with the proposal to give the developer of the Superman building, High Rock Development, a 29-million dollar break on their tax bill over the next 30 years. On top of that, the city is handing out a five-million dollar grant to this developer with no strings attached, and a loan of ten million dollars from our Housing Trust Fund to pay for what is being promoted as ‘affordable’ apartments, but isn’t actually affordable.

“As it is outlined in the current proposal, only 20 percent of the units will be dedicated to ‘affordable’ housing, the rent for which, according to the developer, could range from $1,384 to $2,076 per month. Of course, for those who are in touch with reality on the ground, we know that too many people in our city cannot afford these rents. To suggest that these price ranges are ‘affordable’ is a slap in the face to the thousands of residents who are intimately experiencing a housing crisis in our city every day, many of whom are desperate for even a fraction of relief that this proposal would extend to the High Rock developer.

“The Finance Committee’s decision to approve this proposal comes at a time when our residents face a near-50% increase in their electricity bill. It comes at a time when this city has just given a 30-million dollar tax revenue to real estate developer Buff Chace through the eight percent law, and is now considering a 20-year tax break for the Providence Place Mall owners. Finally, it will come at a time in which nearly 50% of all land parcels in this city are exempt from property taxes.

“Providence simply can’t afford these giveaways anymore. There’s a good reason why the Brookings Institute has declared Providence as the third-most economically unequal city in our nation. And that’s because taxpayers in this city—like our mom-and-pop homeowners, renters, and small business owners— continue to bear the brunt of these unfair tax policies.

“This is a bad deal for Providence and it sends the wrong message: that our public officials are more concerned about attracting outsiders to our city and less concerned about passing measures that will keep longtime residents here for the long term. As this proposal leaves the Finance Committee and goes before the full Council for a vote tonight, I urge all of its members to muster up the political courage to vote no on the passage of this proposal. Providence is depending on you to make the right decision because the fate of our fiscal future depends on it.”

Direct Action for Rights and Equality (DARE) will be rallying against the Superman proposal at the City Council meeting tonight and demanding genuinely affordable housing for those most in need.