We’ve referred to 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 latest Northeastern College negotiations.
Her administration brokered a five-year take care of Northeastern wherein considered one of Boston’s largest tax-exempt nonprofits will contribute larger voluntary PILOT funds to town.
Northeastern will up its annual contribution beneath 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 town will enhance incrementally by 36.8%, from $1.9 million in fiscal 12 months 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 embrace help for public schooling, housing and neighborhood entry to public and institutional areas, together with different shared priorities with 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 massive, deep-pocketed fish who’ve skated by on lesser taxes for years.
Wu’s administration is concentrating on Harvard College, Boston College, Boston School, 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.
