R.I. Gen. Laws § 42-63.5-1

Current through 2024 Public Law 457

Section 42-63.5-1 - Definitions

For the purposes of this chapter, the following terms shall have the following meanings:

(1) "Agreement Regarding Providence Place Mall" means the agreement between the EDC and the developer pursuant to which the Providence Place Project will be constructed and developed.

(2) "City" or "Providence" means the City of Providence.

(3) The "developer" means the developer intending to build and develop the Providence Place Project.

(4) "Economic Development Corporation" or "EDC" means the Rhode Island Economic Development Corporation created under chapter 64 of this title.

(5) "Ground lease" means the lease of certain interests in the Project Site between the EDC and the developer for a term of ninety-nine (99) years, with four (4) successive options to extend for additional terms of ninety-nine (99) years each.

(6)

(i) "Project Site" means all tracts or parcels of land situated in the City of Providence, County of Providence, State of Rhode Island and delineated on that plan entitled "Plan of Land in Providence, Rhode Island, surveyed for Providence Place, surveyed and drawn by Marrier Surveying, Inc. Scale: 1" = 40', May, 1990, revised May 1995":

Beginning at the northwesterly corner of the herein described parcel that corner being sixty-three and 90/100 (63.90) feet westerly, on the extension of the southerly line of Hayes Street, from the intersection of the southerly line of Hayes Street with the easterly line of Park Street;

Thence S 85-20 '-00" E, Crossing Park Street, a distance of sixty-three and 90/100 (63.90) feet to the intersection of the southerly line of Hayes Street with the easterly line of Park Street;

Thence S 85-20 '-00" E, a distance of four hundred fifty-eight and 71/100 (458.71) feet to a corner bounding northerly on Hayes Street;

Thence S 61-24 '-44" E, a distance of ninety-five and 52/100 (95.52) feet to a corner bounding northeasterly on Francis Street;

Thence S 05-41 '-29" W, a distance of one hundred five and 75/100 (105.75) feet to a point of curvature;

Thence southerly bearing southeasterly along the arc of a curve having a radius of five hundred eight and 00/100 (508.00) feet, a distance along that arc of forty-one and 86/100 (41.86) feet to a point of tangency;

Thence S 00-58 '-12" W, a distance of one hundred fifty-three and 25/100 (153.25) feet to a point of curvature;

Thence southerly bearing southwesterly along the arc of a curve having a radius of four hundred ninety and 00/100 (490.00) feet, a distance along that arc of forty and 38/100 (40.38) feet to a point of tangency;

Thence S 05-41 '-29" W, a distance of four hundred ninety-one and 28/100 (491.28) feet to a point of curvature;

Thence southerly bearing southeasterly along the arc of a curve having a radius of seven hundred fifty-five and 00/100 (755.00) feet, a distance along that arc of two hundred sixty-one and 37/100 (261.37) feet to a point of reverse curve, the last six (6) courses bounding easterly by Francis Street;

Thence southwesterly bearing westerly along the arc of a curve having a radius of thirty six and 00/100 (36.00) feet, a distance along that arc of fifty-six and 50/100 (56.50) feet to a point of compound curve;

Thence southwesterly bearing westerly along the arc of a curve having a radius of four hundred seventy-one and 00/100 (471.00) feet, a distance of two hundred seventy and 25/100 (270.25) feet to a point of compound curve;

Thence westerly bearing northwesterly along the arc of a curve having a radius of four hundred seventy-one and 00/100 (471.00) feet, a distance along that arc of two hundred seventy-one and 35/100 (271.35) feet to a point of tangency;

Thence N 38-20 '-23" W, a distance of twelve and 18/100 (12.18) feet to a point of curvature;

Thence northwesterly bearing northerly along the arc of a curve having a radius of four hundred seventy-one and 00/100 (471.00) feet, a distance along that arc of sixty-seven and 11/100 (67.11) feet to a point of curvature;

Thence northerly bearing northeasterly along the arc of a curve having a radius of five hundred seventy-two and 00/100 (572.00) feet, a distance along that arc of three hundred fifty-seven and 65/100 (357.65) feet to a point of tangency;

Thence N 05-38 '-56" E, a distance of three hundred fifty-two and 66/100 (352.66) feet to an angle;

Thence N 07-31 '-50" E, a distance of two hundred ninety-nine and 10/100 (299.10) feet to the point and place of beginning.

(ii) The above described parcel contains an area of seven hundred thousand two hundred fifty-nine (700,259) square feet more or less.

(7) "Providence Place Garage" means the parking facility currently planned to include a minimum of four thousand (4,000) parking spaces to be built on the Project site in connection with the Providence Place Mall.

(8) "Providence Place Mall" or the "Mall" means the regional retail shopping facility containing no less than one million one hundred fifty thousand (1,150,000) square feet to be built and developed in Providence.

(9) "Providence Place Project" or the "Project" means the facilities comprising the Providence Place Mall and the Providence Place Garage.

(10) "Public Investment and HOV agreement" means the agreement between the EDC and the developer providing for the investment by the developer in the Project and the commitment by the EDC for the investment of a portion of the sales tax revenue from the Providence Place Mall in the Project and the agreement of the developer to lease to the EDC for a term ending upon the expiration of the Ground Lease, five hundred (500) parking spaces in the Providence Place Garage which are intended to be used for high occupancy vehicles ("HOV's") in connection with compliance by the State with the Clean Air Act Amendment of 1990.

(11) "State" means the State of Rhode Island.

R.I. Gen. Laws § 42-63.5-1

P.L. 1995, ch. 400, § 1.