2024 -- H 8285

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LC006142

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2024

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J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $3,000,000 TO 25 BOUGH, LLC TO SUPPORT THE

COMPLETION OF THE INITIAL PHASE OF RENOVATIONS TO CERTAIN PROPERTY

LOCATED IN PROVIDENCE

     Introduced By: Representatives Diaz, Slater, Biah, and Sanchez

     Date Introduced: May 16, 2024

     Referred To: House Finance

     WHEREAS, The 25 Bough Street Development, located on 25 Bough Street, Providence,

RI 02909, in the Olneyville section of Providence, is anticipated to provide many benefits to the

community including: fifteen (15) units of housing with approximately twenty percent (20%)

being affordable; a futures hub teaching careers and industries of the future to youth and adults

including STEM, offshore wind, the blue and green economy working in partnership with

community providers as well as the Department of Labor and Training; and a cultural experience

museum for interactive and immersive education that can also help to fuel cultural tourism

working with the City of Providence Department of Arts, Culture and Tourism and the Rhode

Island Commerce Corporation; and

     WHEREAS, Youth and community introduction to STEM will be further supported by

organizations of content and/or who will be housed at the 25 Bough Street building including:

The University of Rhode Island College of Engineering with content; The Impowerment Group, a

Rhode Island domestic nonprofit corporation and 501(c)(3) organization dedicated to coding and

development; Winner’s Circle Augmented; Mixed and Virtual Reality; and RISE Women’s

Leadership with a Young Woman’s Circle program to deliver content, support and training; and

     WHEREAS, This one-time capital contribution is the critical pathway to realize

additional funding which will yield a Community Bank with a ten (10) year commitment,

Minority Business Incubator space with a five (5) year lease by the Papitto Opportunity

Connection Foundation (“The Papitto Foundation”) allowing for over two hundred (200) Black,

Indigenous, and People of Color (“BIOPIC”) organizations the Foundation funds to work out of

the facility, addressing food insecurity and creating a cultural events center and hub; now,

therefore be it

     RESOLVED, That the General Assembly hereby appropriate to 25 Bough, LLC, a Rhode

Island domestic limited liability company, the sum of three million dollars ($3,000,000) out of

any monies in the treasury not otherwise appropriated for fiscal year 2024 -2025, to support a

one-time capital contribution to complete the initial phase of renovations of and for the 25 Bough

Street Development and the state controller is hereby authorized and directed to draw his orders

upon the general treasurer for the payment of said sum, or so much thereof as may be from time

to time required, upon receipt of properly authenticated vouchers.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $3,000,000 TO 25 BOUGH, LLC TO SUPPORT THE

COMPLETION OF THE INITIAL PHASE OF RENOVATIONS TO CERTAIN PROPERTY

LOCATED IN PROVIDENCE

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     This joint resolution would authorize the appropriation of the sum of three million dollars

($3,000,000) to 25 Bough, LLC, a Rhode Island domestic limited liability company, to support a

one-time capital contribution to complete the initial phase of renovations of and for the 25 Bough

Street Development, a mixed use building providing affordable housing and both educational and

cultural opportunities to the community, located in Providence.

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