PROVIDENCE, R.I. (AP) — Brown University will voluntarily pay Providence $31.5 million more over the next 11 years to help address financial problems that Mayor Angel Taveras has warned could put the city on the brink of bankruptcy.

Taveras and Brown President Ruth Simmons announced the landmark agreement Tuesday at the Statehouse, backed by Gov. Lincoln Chafee and top lawmakers who helped shepherd both sides through the often difficult negotiations.

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