Providence Mayor Angel Taveras has requested $39 million from the federal Transportation Investment Generating Economic Recovery TIGER grant program to help fund a streetcar system, calling the project essential to the comeback of Rhode Island's capital city.

The project would cost $114 million overall, with Providence looking to establish a tax increment finance district along the streetcar route to subsidize operations. The city wants to use land opened up with the relocation of a part of Interstate 195, known commonly as the I-Way project.

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