Council hears support for lease of WaterFire Arts Center, citing tourism and downtown economic benefits

Councilwoman Ryan presented item 8, a proposed lease of a city-owned building to the WaterFire organization and described the group's role in Providence's identity and downtown economy. She recounted that the council previously approved bonding to purchase the building and said WaterFire had lost corporate sponsorships during recent economic crises but remains a cultural anchor that draws visitors and supports hotels and restaurants.

In testimony Ryan said WaterFire "has become synonymous with Providence" and that prior testimony estimated an annual economic contribution in the order of $162 million to Rhode Island; she characterized the lease as fiscally sound given the organization's tourism draw. Councilman Gonzales also spoke in favor, calling WaterFire a cultural cornerstone that uplifts the hospitality and restaurant sectors on WaterFire nights.

There was no extended opposition recorded in the transcript for the lease; discussion focused on the group's value to the city and the council moved on to subsequent agenda items. The transcript records a motion to waive the reading and consider item 8 on a roll-call vote and that the matter was discussed before the council proceeded to items 9–10.