We’ve known as out Mayor Michelle Wu for sticking Bostonians with an ever-increasing invoice to cowl the White Stadium overhaul, however she deserves credit score for giving taxpayers a break together with her latest Northeastern College negotiations.
Her administration brokered a five-year take care of Northeastern during which one in every of Boston’s greatest tax-exempt nonprofits will contribute greater voluntary PILOT funds to the town.
Northeastern will up its annual contribution underneath the town’s Cost in Lieu of Taxes program, to complete greater than $49 million in money and group advantages over a five-year interval set to run out on June 30, 2030.
Northeastern’s annual money cost to the town will enhance incrementally by 36.8%, from $1.9 million in fiscal yr 2025 to $2.6 million in FY30. The college has additionally dedicated to contributing $37 million in so-called group advantages — which can embrace help for public schooling, housing and group entry to public and institutional areas, together with different shared priorities with the town.
“Boston thrives when our main establishments match their world attain with a deep dedication to our neighborhoods,” Wu mentioned in an announcement. “Our five-year PILOT settlement units a brand new normal for greater annual money funds and group advantages at a time when Boston taxpayers want aid.”
Can we ever, and it’s encouraging to see the Mayor go after the massive, deep-pocketed fish who’ve skated by on lesser taxes for years.
Wu’s administration is concentrating on Harvard College, Boston College, Boston Faculty, Mass Common-Brigham Hospital, Beth Israel Hospital, Boston Kids’s Hospital, Dana Farber Most cancers Institute, and Tufts Medical Middle.
We, and Boston taxpayers, are hopeful they’ll comply with Northeastern’s instance.
