|Page (1) of 1 - 05/01/12||email article||print page|
Brown U. agrees to hike payments to RI city by $31.5M over 11 years to help with budget woes
PROVIDENCE, R.I. (AP) ' Brown University has agreed to pay Providence $31.5 million more over 11 years to help the Rhode Island city resolve budget problems that the mayor has warned could bring bankruptcy.
Brown President Ruth Simmons and Mayor Angel Taveras (tuh-VEHR'-us) announced the deal Tuesday along with Gov. Lincoln Chafee (CHAY'-fee) and lawmakers who participated in sometimes difficult negotiations.
Simmons says the tax-exempt Ivy League university is committed to helping its host city, and that a good relationship between Providence and Brown will benefit both.
Taveras has been seeking $7.1 million more from tax-exempt institutions to resolve a $22.5 million deficit.