President Ruth Simmons, Gov. Lincoln Chafee '75 P'14 and Providence Mayor Angel Taveras will announce the conclusion of months-long negotiations regarding the financial relationship between Brown and the city of Providence at a press conference tomorrow morning, according to a press release this afternoon.
Taveras also reached what he called a "groundbreaking" deal with Lifespan, a health system that oversees several Rhode Island hospitals, in which the nonprofit will pay the city $800,000 every year for the next three years, according to WPRI.
The negotiations between the University and Providence were revealed in January, when Brown's initial rejection of city demands was made public. In February, Taveras announced that Providence could face bankruptcy in June if the city's nonprofits do not come to its aid. Since then, discussions between Taveras, Simmons and University administrators have continued. Simmons previously declared her intention to conclude discussions before she steps down in June.
Keep checking back for updates.
