WOONSOCKET â€“ Newly for-profit Landmark Medical Center has agreed to pay more than $900,000 in taxes on real estate and business equipment that the city will pump into the 2015 municipal budget, helping tamp down residential property tax rates.
The deal was disclosed at City Hall Wednesday as the Budget Commission approved a $131.6 million spending package for the fiscal year that begins July 1, hours before state lawmakers passed a bill that closes a loophole that could have exempted for-profit hospitals from taxation. Championed by State Sen. Roger A. Picard (D-Dist. 22), the bill has been forwarded to Gov. Lincoln Chafee for his expected signature.
â€śObviously this is very beneficial to the city of Woonsocket,â€ť Mayor Lisa Baldelli-Hunt said. â€śWeâ€™ve been waiting for the passage of this bill since the beginning of the legislative session.â€ť
Read the complete story in Friday's print edition.