R.I. Gen. Laws § 44-33.6-1 — Declaration of purpose

The general assembly finds and declares that Rhode Island’s historic structures continue
to experience high vacancy rates and physical deterioration, particularly in Rhode
Island’s central business districts. Without adding economic incentive, these structures
are not viable for the redevelopment and reuse by modern commercial, residential or
manufacturing enterprises and will continue their physical deterioration. The redevelopment
and reuse of these historic structures are of critical importance to the economic
measures and will assist in stimulating the reuse and redevelopment of historic structures
and will improve property values, foster civic beauty, create employment opportunities,
enhance commerce, and promote public education, pleasure, and welfare. Furthermore,
during this unprecedented economic climate, many in the building and construction
trades, and related service industries, have been severely impacted. The redevelopment
and reuse of these historic structures will serve as a vital catalyst in the recovery
of these trades and services, in addition to stimulating various other related economic
benefits and business activities. The purpose of this chapter is to create economic
incentives for the purpose of stimulating the redevelopment and reuse of Rhode Island’s
historic structures, as well as to generate the positive economic and employment activities
that will result from such redevelopment and reuse.