§ 42-64.8-2. Legislative findings. (a) It is found and declared that Rhode Island's urban centers serve as centers of economic activity and offer a wide range of cultural and architectural assets; that these and other assets continue to contribute greatly to the economic and cultural prosperity of the state's urban centers, the greater metropolitan area, and the state as a whole.

(b) It is further found that as cities age they often experience deteriorating infrastructure and increasing effective tax rates, adversely impacting their ability to retain and attract business; that the economic future of the suburbs, metropolitan areas, and the state as a whole, rests on the overall health of the urban areas; and that continued urban decay further threatens Rhode Island's economic assets.

(c) It is further found that creation of an urban renaissance fund is needed to leverage private investment by providing resources for activities to improve the urban infrastructure from activities including assessment of abandoned industrial sites to enhance marketability, brownfield projects, urban land assembly and demolition of vacant and abandoned properties, waterside and streetscape improvement, neighborhood and community "anchor" development and transportation related projects.

(d) It is further found and declared that because Rhode Island's urban communities are unable to sufficiently invest in local infrastructure supporting statewide economic activities, the state should play a central role in developing and supporting a targeted urban infrastructure program.

(e) The purpose of this chapter is to create a state urban infrastructure commission (UIC) to develop a Rhode Island urban renaissance fund.

History of Section. (P.L. 2003, ch. 100, § 1; P.L. 2003, ch. 236, § 1.)