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 along with her current Northeastern College negotiations.
Her administration brokered a five-year cope with Northeastern by which considered one of Boston’s greatest tax-exempt nonprofits will contribute larger voluntary PILOT funds to the town.
Northeastern will up its annual contribution beneath the town’s Fee in Lieu of Taxes program, to complete greater than $49 million in money and neighborhood advantages over a five-year interval set to run out on June 30, 2030.
Northeastern’s annual money cost to the town will improve 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 neighborhood advantages — which is able to embody assist for public schooling, housing and neighborhood entry to public and institutional areas, together with different shared priorities with the town.
“Boston thrives when our main establishments match their international attain with a deep dedication to our neighborhoods,” Wu stated in a press release. “Our five-year PILOT settlement units a brand new commonplace for larger annual money funds and neighborhood advantages at a time when Boston taxpayers want reduction.”
Will we ever, and it’s encouraging to see the Mayor go after the large, deep-pocketed fish who’ve skated by on lesser taxes for years.
Wu’s administration is focusing on Harvard College, Boston College, Boston Faculty, Mass Basic-Brigham Hospital, Beth Israel Hospital, Boston Kids’s Hospital, Dana Farber Most cancers Institute, and Tufts Medical Heart.
We, and Boston taxpayers, are hopeful they’ll comply with Northeastern’s instance.
