Brown, Supreme Court hold off on Providence financial movesFebruary 9th, 2012 at 5:12 pm by Ted Nesi under Nesi's Notes, On the Main Site
Brown University’s 54-member board probably won’t vote this weekend on whether to increase its voluntary payments to the city of Providence because a formal proposal isn’t on the table yet.
“We are continuing discussions with the mayor at this time and do not expect action coming out of the Corporation because those discussions have not yet produced a proposal for the Corporation to consider,” Brown spokeswoman Marisa Quinn told WPRI.com, using the board’s formal title.
The Corporation, whose members include Bank of America CEO Brian Moynihan and Providence Equity Partners chief Jonathan Nelson, meets three times a year and usually approves the university’s budget in February. Talks between the school and Providence Mayor Angel Taveras resumed last week after deadlocking in December.
“We look forward to meeting with the mayor and the other nonprofits to discuss fair and constructive opportunities to strengthen Providence,” Quinn said.
Separately, a spokesman for the Rhode Island Supreme Court said the five justices would not issue an order or make any other announcement on Thursday about whether they’ll agree to an expedited review of Providence’s appeal of a lower-court decision blocking the city from moving retirees to Medicare.
• Related: Mayor Taveras hopeful Providence can avoid bankruptcy (Feb. 6)