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Developer seeks tax break for giant waterfront project
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Okay, Don
You get a tax break, and in exchange, any unit that sits vacant for more than 30 days gets used to house one homeless person until you rent it out.
Yeah, I thought not.
Any developer who has to
Any developer who has to resort to arguing and negitiating his own financing contingency is a recipe for disaster. Red flag on this project for all those title insurers.
I'm sure Don will be
I'm sure Don will be destitute unless he gets his tax break. He may have to run for city councilor just to earn enough money to make ends meet.
Chiofaro and the Homeless
Don Chiofaro actually does quite a bit to help the homeless, and is a major sponsor of a large fundraiser in February that takes place on International Place plaza.
https://www.crowdrise.com/icycle2015
http://www.boston.com/yourtown/news/downtown/2012/02/despite_weather_vol...
Frankly, I really don't care
what this bozo thinks.
If you are not happy with what the City approved; then go somewhere else. You have been fussing about what you want for too long. Build or get the heck out already.
Every inch of land in the City does not need to be a high rise - or even developed.
Or benefit from an undefined tax break
for that matter.
So lemme get this straight
Don overpaid for the garage by tens of millions of dollars. So now it's the taxpayers' responsibility to bail him out by doubling the zoning and throwing in a tax kicker.
So simple! Every real estate deal should work that way.
It's for the greater good!
Just read the article yesterday in the globe- the lower middle class is being priced out of Boston. For only $30m in tax breaks, Don will be providing some housing stock affordable for... oh never mind, he just wants cash.
Marty is going to go for this right? I think his superiors in the construction unions will dictate that.
He's just asking for the same
He's just asking for the same deal Liberty Mutal and John Rosenthal got.
He wants the same deal that
He wants the same deal that the BRA gave Hayward Place.
In other words
The guy bought a large piece of property believing that he could ignore the existing restrictions on waterfront development, which are in writing and well known.
Therefore, he gets $$ from the city?
Right.
Should I sue my community for a tax infusion because I can't build to the lot line? I mean, I know about the setback requirements and the have been there for decades, but no fair!
This is how it works in
This is how it works in Boston, and Menino designed it that way. He made restrictions and zoning everywhere much lower than he would eventually approve, and get the developer to kick back something to him and his favorite groups, and in exchange would change the zoning and get the developer tax breaks. Almost all the seaport buildings got tax subsidies, so why wouldn't this? I don't agree with it but you cant be ok with all the others and then blast this one because Menino didn't like him.
But we can try to stop it
But we can try to stop it from happening again. And again. And again....
Millionaires always think
Millionaires always think they are entitled to tax-payer bailouts.
You don't get a tax break unless you ask for it
I've read quotes a number of times from retailers and developers - you might as well ask for a tax break because you might just get it. It would be irresponsible not to ask for one.
I think an appropriate reply to the request would be "Fat Chance".
Are there enough interested residents to buy him out?
I'd put a few thousand dollars into a fund. Of course that only covers the cost of a few rivets, but hey, ever bit and all.
A few thousand dollars
And you can park there for a month
Park...
Wait...how many bicycles can I get in for that much? Sounds like to start of a world record.
what ever happened to?
That cold storage auction fish warehouse project? I believe it was called the American Seafood Exchange. It seemed like such a wonderful plan and ideal for the South Boston Waterfront.
Building mixed use? Great.
Building mixed use? Great.
Building new residences in downtown Boston, where folks can live without autos? Super.
Is it true that increasing the housing stock -- even if the housing is higher end -- helps suppress housing prices and rent metro-wide? You bet.
Eliminating a parking garage? Awesome.
I only know a bit or two about the project, and in principal, I love it. Build away.
But tax breaks? Fuck off. We need to stop letting heavyweights trick us into racing to the bottom. He can pay his fair share.