Angel Taveras, the mayor of Providence, R.I., said last week that the city would go bankrupt unless it achieves certain savings and also obtains new revenue -- with much of the extra money coming from Brown University, the Associated Press reported. Taveras said that the university needs to commit to $40 million in additional payments over the next 10 years. That would be on top of the $4 million a year Brown already pays to reflect its use of city services because university property is tax-exempt. A university spokeswoman said that a panel of Brown board members has proposed that the university provide an additional $2 million a year over the next five years. The spokeswoman said that "we regret that the mayor rejected this offer and hope that we can continue our discussions and reach an equitable and sustainable solution."
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