Posts by Anastasia Nicolaou
MAYOR WU FILES LEGISLATION SEEKING PERMISSION TO INCREASE THE TAX BURDEN ON COMMERCIAL PROPERTIES
On Thursday, March 28, Mayor Wu announced her intention to file a Home Rule Petition with City Council allowing the City to lessen increases in residential property tax bills caused by declining commercial values by temporarily shifting more of the property tax levy onto owners of commercial and industrial properties. The proposal was filed this week with City Council for consideration at Wednesday’s Council Meeting.
On Friday, March 29, The Boston Globe Editorial Board chose not to endorse Mayor Wu’s proposal, and instead stated their agreement with NAIOP’s position, suggesting that the City consider diversifying revenue streams.
Read MoreDain Torpy Files Amicus Brief on Behalf of NAIOP & Massachusetts Association of REALTORS® in Shoucair v. Zoning Board of Appeals of Boston & Others
On March 8, law firm Dain, Torpy, Le Ray, Wiest & Garner (Dain Torpy) filed an amicus brief on behalf of NAIOP Massachusetts – The Commercial Real Estate Development Association (NAIOP) and the Massachusetts Association of REALTORS® (MAR). Because Boston’s zoning appeal bond requirement is established by statutory text that is distinct from, and pre-dates, the Commonwealth’s separate zoning appeal bond provision, the brief urges the SJC to affirm the Superior Court’s imposition of a bond on the appellant in this case without requiring an “in bad faith” determination.
Read MoreBallot Efforts to Legalize Rent Control Fail to Gather Signatures Needed
Efforts to advance a ballot question seeking to establish a broad spectrum of policies related to the rental housing market, including the legalization of rent control, gathered less than 15% of the required signatures over six weeks of outreach. With the November 22 signature deadline looming, the campaign was unable to gather the remaining 60,000+ signatures required and has suspended operations. This means that the question will not go before voters in 2024.
As NAIOP CEO Tamara Small told The Boston Globe over the weekend, rent control will not address our housing crisis.
Read MoreGOVERNOR HEALEY SIGNS TAX RELIEF LEGISLATION
In direct response to NAIOP’s advocacy and work convening a broad range of business and economic development groups over two legislative sessions, the final bill includes a language tripling the annual cap on the Housing Development Incentive Program from $10 million to $30 million, and a one-time $57 million allocation to clear out the almost-2,000 unit backlog of shovel ready housing projects in Gateway Cities across the Commonwealth. The bill also includes a NAIOP-supported $20 million increase in the Low-Income Housing Tax Credit, bringing the total annual allocation to $60 million.
Read MoreGovernor Healey Signs FY24 Budget Extending Brownfields Tax Credit Through January 1, 2029
On August 9, 2023, Governor Healey signed the FY24 budget.
In direct response to NAIOP’s advocacy, the final budget includes a five-year extension of the Brownfields Tax Credit through January 1, 2029. Since the beginning of the session in January, NAIOP has worked with the Healey-Driscoll Administration, the Legislature, and a broad coalition of business groups and housing advocates to ensure the extension was considered for early passage.
Read on to learn about other investments found in the final FY24 budget.
Read MoreLegislature Passes Final Budget – Includes Extension of Brownfields Tax Credit
In the afternoon of July 31, the Massachusetts House of Representatives and Senate passed the final FY24 Budget.
In direct response to NAIOP’s advocacy, the final budget includes a five year extension of the Brownfields Tax Credit, which was previously set to expire on January 1, 2024. Since the beginning of the session in January, NAIOP has worked with the Healey-Driscoll Administration, the Legislature, and a broad coalition of business groups and housing advocates to ensure the extension was considered for early passage.
Read MoreBPDA DELAYS IDP VOTE; FY24 BUDGET AND TAX PROPOSALS HEAD TO CONFERENCE COMMITTEE; GOVERNOR ANNOUNCES HOUSINGWORKS IN CAPITAL INVESTMENT PLAN
In mid-May, the Boston Planning and Development Agency (BPDA) released an updated proposal for the City’s Inclusionary Development Policy (IDP).
Read on to learn more about NAIOP’s position on this policy; and for updates from the State House regarding the FY24 budget; tax reform; and Governor Healey’s new housing announcement.
Read MoreMayor Wu Announces Proposed Changes to Linkage and Inclusionary Development
On December 15, Boston Mayor Michelle Wu announced a set of proposals to make substantial changes to the City’s Inclusionary Development Policy (IDP) and the commercial Linkage Policy. The announcement also previewed the City’s intent to review proposed changes to the Article 80 permitting process with the goal of implementing clear timelines and predictability for projects.
Read MoreNAIOP Joins Housing Coalition to Submit Amicus Brief in Affordable Housing Case
In September, NAIOP joined a coalition of housing advocates, municipalities, state agencies and real estate groups in signing onto an amicus brief in the case of Terrence Marengi Jr. & others v. 6 Forest Road LLC & Others. The brief urged the Supreme Judicial Court to uphold the bond requirements set by the lower court under new provisions of the state Zoning Act, Chapter 40A, enacted in 2021. NAIOP supports the lower court’s position that the bond requirements created for zoning appeals under the new law should apply to appeals made pursuant to Chapter 40B.
Read MoreEPA Announces Implementation of Residual Designation Authority for Stormwater Discharges in Massachusetts Watersheds
On September 14, the federal Environmental Protection Agency (EPA) announced new efforts designed to oversee currently unregulated stormwater runoff in the watersheds of the Charles, Neponset, and Mystic Rivers.
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