R.I. Gen. Laws § 44-4.2-2 — Declaration of necessity

Latest surveys in the city of Pawtucket indicate a sizeable number of historic industrial
mill buildings, which are unutilized or underutilized and a growing need to provide
affordable residential housing for the residents of the city. Inability to provide
this housing through the conventional free market forces has magnified the problem
to a degree, which mandates immediate action. Economy and efficiency dictate that
the most desirable method for dealing with this shortage is to convert unutilized
and underutilized historic mill buildings for use as affordable residential housing
through a cooperative partnership of local municipal tax authorities, building owners,
and private sector lending institutions.