Last October, Brown and three other Providence-based colleges and universities agreed to provide over $177 million in voluntary payments to the city over the course of 20 years.
The Payment in Lieu of Taxes, or PILOT, agreement takes the form of a memorandum of understanding signed by Brown, the Rhode Island School of Design, Providence College and Johnson and Wales University. The agreement accounts for the fact that the four non-profit educational institutions do not pay property taxes to Providence.
Brown also signed a separate agreement with Providence to provide an additional $46 million in voluntary payments on top of the funding outlined in the MOU.
Read more at The Brown Daily Herald.
