R.I. Gen. Laws § 44-3-10
The city council of any city or the town council of any town may, with the approval of the tax administrator appointed pursuant to the provisions of § 44-1-1, wholly or partially exempt from taxation for a period of not exceeding one year manufacturing or mill buildings in which manufacturing has not been carried on for at least one year immediately prior to the granting of the exemption, and, if so determined, the personal property located in the city or town, with like power to repeat the action as often as may be deemed best; provided, that the owner agrees in writing with the tax administrator that the building or buildings so exempted shall not be torn down and that the personal property, if exempted, shall not be removed from the premises during the period for which the exemption is granted; and, provided, that the owner of the building or buildings agrees in writing with the tax administrator upon a price that the owner will accept for the property so exempted during the period of the exemption.
R.I. Gen. Laws § 44-3-10