Providence City Council Passes Rent Control Ordinance; Mayor Plans Veto
The Providence City Council voted to pass a controversial rent stabilization ordinance capping annual rent increases at 4%, with exemptions for property owners to address certain costs. Mayor Brett Smiley has announced plans to veto the measure, setting up a potential override battle. The ordinance creates a five-member Residential Rent Regulation Board to oversee disputes and exemptions for capital improvements and tax increases.
