NEW: Fane Organization Files Tax Stabilization Application with City of Providence

NEW: Fane Organization Files Tax Stabilization Application with City of Providence

The Fane Organization has filed the Tax Stabilization Application (TSA) with the City of Providence.

“The filing of the TSA is another major milestone achieved by Fane on this project. The Fane Organization continues to invest and work diligently to make this exciting project a reality,” said RDW Group in a statement.

The deadline to file the TSA is December 1, 2019. The project was first proposed in November of 2016. No shovel has yet to touch the ground.

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TSA Submission

The submission included a non-refundable $205,575.47 filing fee that goes to the City of Providence.

The TSA requires an estimate of construction costs, not total project cost, which would include land cost and numerous other expenses.

The Gilbane Building Company, who is proving pre-construction consultative services to the Fane Organization, provided the estimate for the construction cost contained in the TSA filing.

Latest on Fane

As GoLocalProv reported back in September, the latest design for Fane Tower was approved by the 195 commission.

The commission approved the design by a vote of 5-1.

See the Renderings Below