The Providence City Council on Thursday voted in favor of a new agreement with Brown University, Providence College, Johnson and Wales and the Rhode Island School of Design.
Those schools promised to increase the amount of their voluntary payments to the city instead of paying normal commercial taxes.
The agreement could generate 223-million dollars over the next two decades.
Mayor Brett Smiley says Providence will be on a stronger financial path, and at the same time, will set a national example for working together with "major anchor institutions".
(Photo by Michael Hickey/Getty Images)
Photo: Michael Hickey / Getty Images Sport / Getty Images