Providence’s city council voted Thursday night to enact a form of rent control, but supporters are still one vote short of the supermajority they would need to override an anticipated veto from Mayor Brett Smiley.
Smiley has repeatedly said he plans to veto the Providence Rent Stabilization Act, which would cap annual rent increases at 4% with exceptions for smaller owner-occupied buildings and new construction.
The act passed the council with a second 9-6 vote on Thursday night, the same split as an initial vote in April that drew lengthy discussion.
As the much-anticipated policy went up for a vote this spring, two city councilors in particular emerged as potential swing votes.
Councilor Ana Vargas, who was initially undecided, ultimately voted against rent stabilization at both council meetings. She did not comment on the policy at either meeting, and declined an interview on Thursday.
John Goncalves, another councilor that pro-rent stabilization advocates hoped to win over, voted against the policy too, citing a need for more economic research on its potential consequences.
In an interview after Thursday’s vote, Goncalves said he thought of a specific family as he weighed his decision. He did not name the family, but said they bought their home in Fox Point for $37,500 during the 1970s.
“That same property is valued at over $900,000 today,” Goncalves said. “These are people who are on a fixed income. They can’t afford to pay more in property taxes.”
Without more research, Goncalves said, “how do I know what the shift in tax burden is going to be on people like that in my neighborhood?”
Goncalves is pushing a resolution that seeks further study of the rent stabilization act, but Council President Rachel Miller, who supports rent stabilization, said his proposal is “not on the minds” of most councilors.
“Social science is like this,” Miller said. “If you ask five economists what is going to happen tomorrow on the stock market, you will get five completely different answers. The same is true for rent stabilization and other economic policies in the City of Providence.”
The rent stabilization act heads to the mayor’s desk on Friday morning, triggering a 10-day deadline for a decision.
Once Smiley issues his decision, the council has 30 days to vote on whether to override him.
This story has been updated to reflect that Councilor Goncalves is advocating for a resolution, not an ordinance, seeking further study of the rent stabilization act.
