§ 44-4.1-5. Restrictive covenant required.
No historic residence, or historic commercial structure, maintained or rehabilitated may benefit from the provisions of this chapter unless the owner of the historic residence, or historic commercial structure, grants a restrictive covenant to the commission, agreeing that the historic residence, or historic commercial structure, shall retain its use and be maintained in a manner which preserves the historic character of the historic residence or historic commercial structure’s rehabilitated portions historic character for a period equal to the length of the property tax reduction or until title to the property is transferred.
History of Section.P.L. 1988, ch. 549, § 1; P.L. 2006, ch. 302, § 1; P.L. 2006, ch. 478, § 1.
Structure Rhode Island General Laws
Chapter 44-4.1 - Historic Residence — Tax Credit
Section 44-4.1-1. - Declaration of purpose.
Section 44-4.1-2. - Definitions.
Section 44-4.1-3. - Property tax reduction.
Section 44-4.1-4. - Completion — Certification.
Section 44-4.1-5. - Restrictive covenant required.
Section 44-4.1-6. - Forfeiture.