MORNING. >> UH, THANK YOU ALL SO MUCH FOR BEING HERE. FOR THE RECORD, MY NAME IS GABRIELLA COLLETTE AS A DISTRICT ONE CITY COUNCILOR AND I'M THE CHAIR OF THE BOSTON CITY COUNCIL COMMITTEE ON GOVERNMENT OPERATIONS.
TODAY IS APRIL 10TH, 2026 AND THE EXACT TIME IS 1018. THIS HEARING IS BEING RECORDED AND IT'S ALSO BEING LIVE STREAMED@BOSTON.GOV. FORWARD SLASH CITY COUNCIL DASH
TV AND BROADCAST ON XFINITY CHANNEL EIGHT RCN CHANNEL 82 FILES CHANNEL 964 WRITTEN COMMENTS MAY BE SENT TO THE COMMITTEE EMAIL AT
SCAPEGOAT@BOSTON.GOV AND WILL BE MADE A PART OF THE RECORD AND AVAILABLE TO ALL COUNCILORS. PUBLIC TESTIMONY WILL BE TAKEN IN THE MIDDLE OF THIS HEARING AND AT THE END INDIVIDUALS WILL BE CALLED ON IN THE ORDER IN
WHICH THEY SIGNED UP AND WILL HAVE TWO MINUTES TO TESTIFY. IF YOU'RE INTERESTED IN TESTIFYING IN PERSON, PLEASE ADD YOUR NAME TO THE SIGN UP SHEET NEAR THE ENTRANCE OF THE CHAMBER AND IF YOU'RE LOOKING
TO TESTIFY VIRTUALLY, PLEASE EMAIL OUR CENTRAL STAFF LIAISON MICHELLE GOLDBERG AT AM I C H E
LEGAL A GOOGOL D B E AT BOSTON.GOV IN YOUR FOR THE LINK AND YOUR NAME WILL BE ADDED TO THE LIST. TODAY'S HEARING IS ON DOCKET 0163 PETITION FOR A SPECIAL LAW
REGARDING AN ACT RELATIVE TO A REAL ESTATE TRANSFER FEE AND SENIOR PROPERTY TAX RELIEF. THIS MATTER WAS SPONSORED BY COUNCILORS HENRY SANTANA, RICHIE LOUIJEUNE AND SHARON
DURKAN AND REFERRED TO THE COMMITTEE ON JANUARY 28TH OF THIS YEAR. TODAY I'M JOINED BY MY COLLEAGUES IN ORDER OF ARRIVAL COUNCILOR RICHIE LOUIJEUNE COUNCIL IS BREADON
COUNCILOR HENRY SANTANA AND COUNCILOR FLYNN. I'LL NOW PASS IT BEFORE WE GO TO THE PANEL. I'LL PASS IT TO MY COLLEAGUES FOR ANY OPENING REMARKS THEY MAY HAVE STARTING WITH THE LEAD
SPONSOR COUNCILOR SANTANA FOR. GOOD MORNING. UM AND THANK YOU, COUNCILOR COLLETTE AS A PARTNER FOR WORKING ALONGSIDE, UM, ME AND MY COLLEAGUES TO MAKE THIS HEARING A REALITY.
UH, ONE THING COUNCILOR LOUIJEUNE AND COUNCILOR TALKING FOR, UM, JOINING ME AS CO-SPONSORS AND THANK YOU FOR OUR PANEL FOR SPENDING THIS FRIDAY MORNING WITH US DISCUSSES DISCUSSING THIS VERY IMPORTANT TOPIC.
OUR CITY IS IN A HOUSING EMERGENCY. THIS CRISIS IMPACTS ALL OF US ESPECIALLY OUR SENIORS MANY OF WHOM LIVE ON FIXED INCOMES
WITHOUT INTERVENTION THESE COMMUNITIES ARE AT RISK FOR DISPLACEMENT. THIS DISPLACEMENT TEARS AT THE FABRIC OF OUR COMMUNITIES AND IT'S EVERYONE'S RESPONSIBILITY TO GUARD AGAINST THESE HARMS.
THAT'S WHERE OUR CITY CAN AND SHOULD STEP IN TO FUND PROPERTY RELIEF FOR OUR SENIORS AND TO KEEP COMMUNITIES TOGETHER WE MUST TAP INTO CURRENTLY UNTAXED HIGH VALUE PROPERTY TRANSFERS.
WEALTH IS INCREASINGLY BEING CONCENTRATED IN AN EVER DECREASING AMOUNT OF INDIVIDUALS AND COMPANIES. THESE INDIVIDUALS AND COMPANIES NEED TO PAY THEIR FAIR SHARE AND THAT'S AT THE CORE OF THIS
POLICY. IT'S ABOUT FAIRNESS. IT'S ABOUT ADDRESSING GAPS AND INEQUALITIES AND HOW WE COLLECT FEES AND IT'S ABOUT BEING ABLE TO DECIDE AS IS BEING ABLE TO
DECIDE AS A CITY HOW WE TAKE ON AND TAKE CARE OF OUR OUR SENIORS AND RESIDENTS. THESE TAXES ARE MODEST FEES AND THEY'RE TAILORED TO EXCLUSIVELY TARGET THE MOST HIGH VALUE
PROPERTY TRANSFERS IN OUR CITY BY EXEMPTING THAT FIRST $2 MILLION OF A PROPERTY'S PURCHASE PRICE, WE ENSURE THAT A WORKING CLASS AND MIDDLE CLASS FAMILIES WON'T BE BURDENED THROUGH THEIR TAILORED
SPECIFIC TAXES. THEY HAVE REAL IMPACT BY REDUCING FINANCIAL BURDENS. WE SUPPORT OUR SENIORS AND RESPECT A RIGHT TO AGE IN PLACE. IN SHORT, BY IMPOSING TRANSFER FEES WE'RE ASKING THE
WEALTHIEST AMONG US TO PAY THEIR FAIR SHARE TO SUPPORT OUR MOST AT RISK COMMUNITIES THE SAME COMMUNITIES THIS WEALTH IS EXTRACTED FROM. I REALLY WANT TO THANK OUR PANELISTS FOR BEING HERE TODAY. UM THANK YOU, MADAM CHAIR.
THANK YOU, COUNCILOR SANTANA. COUNCILOR LOUIJEUNE THANK YOU, MADAM CHAIR AND I WANT TO THANK THE LEAD SPONSOR COUNCILOR SANTANA FOR HIS WORK. I WANT TO THANK COMMUNITY FOR BEING HERE. UM, THIS TRANSFER FEE IS SO
NEEDED IN THIS MOMENT. THIS IS OUR THIRD TIME ON THE. >> BOSTON CITY COUNCIL. HEARING THIS MATTER. UM, WHEN I HEARD IT THE FIRST TIME, UH, WHEN WE WERE UNDER THE BIDEN ADMINISTRATION. AND WE WERE WE STILL HAD ARPA MONEY.
IT WAS SOMETHING THAT WE NEEDED UH, NOW UNDER AN ADMINISTRATION THAT HAS BEEN REALLY CHALLENGING OUR ABILITY TO PROVIDE FOR OUR MOST VULNERABLE RESIDENTS, WE NEED IT ALL THE MORE. AND GIVEN THE FINANCIAL SITUATION AND THE CHALLENGES
THAT WE HAVE HERE, THE CITY LEVEL WE NEED TO BE THINKING ABOUT FOR ALL OF THE REASONS MENTIONED, UH, ALTERNATIVE FORMS OF REVENUE TO DO THE WORK OF PROVIDING HOUSING AND
OPPORTUNITY FOR OUR MOST MARGINALIZED, OUR MOST VULNERABLE RESIDENTS WITH THIS TRANSFER FEE WE'RE TALKING ABOUT, UH, SOMETHING THAT COULD GENERATE ANYWHERE FROM 50 MILLION TO UPWARDS OF $100
MILLION A YEAR TO HELP US DO THE WORK OF, UH, ENSURING HOUSING AS A BASIC RIGHT FOR ALL OF OUR RESIDENTS. SO I THINK ALL OF THE FOLKS WHO ARE HERE TODAY FOR YOUR ADVOCACY, I KNOW THAT SO MANY PROJECTS COULD BENEFIT FROM THE
SUPPORT OF THIS MONEY OVERALL WE'RE TALKING ABOUT UM, A TRANSFER FEE THAT WOULD AFFECT LESS THAN 10% OF THE HOUSING PORTFOLIO HERE IN OUR CITY. UH, WE'VE HEARD SO MANY TIMES
FROM SO MANY OF OUR ADVOCATES AND MEMBERS OF COMMUNITY FROM OUR SENIORS ABOUT HOW THIS WOULD BE IMPORTANT TO THEM. THE SENIOR EXEMPTION THAT IS PART OF THIS IS ALSO IMPORTANT UNDER 41 C. SO WE ARE REALLY HOPING THAT WE
CAN PARTNER AND WORK AND COLLABORATE WITH OUR STATE HOUSE PARTNERS. AND ONCE THIS PASSES THE BOSTON CITY COUNCIL AS IT HAS IN THE PAST TO MAKE SURE THAT WE MAKE HOUSING A REALITY FOR ALL UH I'M VERY HAPPY THAT JUST A FEW
WEEKS AGO MY OFFICE INTRODUCED UH, SENIOR TAX EXEMPTION THAT OTHER CITIES AROUND THE COMMONWEALTH HAVE BEEN ABLE TO TAKE ADVANTAGE OF FROM ARLINGTON TO CAMBRIDGE TO, UH, TO BELMONT, UM, TO MAKE SURE
THAT OUR SENIORS UH, ARE THAT WE DO A COST OF LIVING ADJUSTMENT EVERY YEAR FOR THE SENIOR TAX EXEMPTION. THAT'S WORK THAT WE CAN DO ON THE CITY COUNCIL ALONE. AND I LOOK FORWARD TO SHEPHERDING THAT THROUGH
BEFORE, UH, JUNE ENDS SO WE CAN GET IT APPLIED TO OUR NEXT TAX BILL. SO I JUST I WANT TO THANK EVERYONE WHO IS HERE FROM OUR SENIORS TO OUR AFFORDABLE HOUSING ADVOCATES TO THE ADMINISTRATION AS WE DO THE WORK OF PARTNERING TOGETHER TO ENSURE AFFORDABLE HOUSING FOR
THE RESIDENTS OF OUR CITY. THANK YOU. THANK YOU COUNCILOR LOUIJEUNE COUNCILOR BREDA. THANK YOU MADAM CHAIR. GOOD MORNING EVERYONE. I'M DELIGHTED TO BE. >> HERE TO. YET AGAIN DISCUSS TRANSFER FEE. >> I THINK IT'S CRITICALLY
IMPORTANT TO PUT SOME MONEY INTO THE COFFERS SO THAT WE CAN DEVELOP MORE HOUSING THAT'S AVAILABLE FOR EVERYONE, AFFORDABLE FOR MORE PEOPLE AND WE ARE AS SANTANA ALREADY
MENTIONED, WE'RE IN AN INCREDIBLE HOUSING CRISIS AND WE DO NEED REVENUE TO HELP, UH, ALLEVIATE THE SITUATION AND OUR PARTICULAR SITUATION IN ALLSTON, BRIGHTON WE HAVE MANY
PROJECTS THAT ARE PROPOSED BY DEVELOPERS. UH, AND WE GO THROUGH THE WHOLE PUBLIC PROCESS AND RESIDENTS, UH, SIT ON IAG'S AND THEY PUT A LOT OF VOLUNTEER TIME INTO IT
AND THEN THE PROJECT GETS APPROVED BY THE UH BPD OR THIS PLANNING DEPARTMENT BPA AND IT'S APPROVED BY UH, THE ZBA AND THEN YOU KNOW, WEEKS LATER
THE PROPONENT IS FLIPPING THE PROJECT AND MAKING MILLIONS OF DOLLARS OUT OF THE TRANSACTION AND THAT MONEY DOESN'T STAY IN OUR NEIGHBORHOOD AND IT MAKES IT,
UH, REALLY CHALLENGING, UH, AND LEAVES, UH, US WITH THE FEELING THAT OUR NEIGHBORHOOD IS BEING USED LIKE AN ATM MACHINE FOR FOLKS WHO HAVE NO INTEREST IN ACTUALLY DEVELOPING A PROJECT
IN THE NEIGHBORHOOD. SO, UH, ALL PART OF FOLKS WHO WANT TO COME AND INVEST IN OUR NEIGHBORHOODS AND BUILD BUILD STABLE HOUSING. BUT WE REALLY RESENT THE FACT THAT, YOU KNOW, IN THIS SORT
OF FLIPPING, UH, PROCESS THAT, UM, PEOPLE ARE MAKING A LOT OF MONEY OFF THE NEIGHBORHOOD AND WE'RE NOT ACTUALLY GETTING THE BENEFITS. SO HAVING A TRANSFER FEE WOULD HELP ALLEVIATE SOME OF THAT, UH, THAT UM, INEQUITY THAT WE
SEE. SO THANK YOU. THANK YOU, COUNCILOR BURTON. COUNCILOR FLYNN. THANK YOU, MADAM CHAIR. >> AND I WAS I WAS. ONE MINUTE LATE FOR TODAY'S MEETING. I WAS IN SOUTH BOSTON WITH
CONGRESSMAN LYNCH. WE DID A MEETING WITH RESIDENTS AT THE FOLEY APARTMENTS, UM, WHICH IS A BIG DEVELOPMENT. WE WERE TALKING ABOUT PUBLIC
SAFETY CHALLENGES, UM, THAT ARE TAKING PLACE IN THE DEVELOPMENT INCLUDING INCLUDING DRUG DEALING. UM, A LOT OF A LOT OF CRIME THAT'S TAKING PLACE.
I REPRESENT THE MOST RESIDENTS THAT ARE UH THAT LIVE IN PUBLIC HOUSING IF ANY OF ANY DISTRICT CITY COUNCILOR I WANT TO SEE US. >> DO MORE WORK IN SUPPORT OF. RESIDENTS ALSO IN VHA
DEVELOPMENTS PROVIDING SAFE AND HEALTHY ENVIRONMENTS THAT RESIDENTS DESERVE. I WANT TO LEARN MORE ABOUT THIS TRANSFER FEE. I DO KNOW THAT WE HAVE A
HOUSING CRISIS. PART OF THAT HOUSING CRISIS IN MY OPINION IS PROVIDING SAFE, SAFE ENVIRONMENTS FOR PEOPLE LIVING IN VHA DEVELOPMENTS.
BUT WE HAVE TO ACKNOWLEDGE THAT WE HAVE SIGNIFICANT PUBLIC SAFETY CHALLENGES IN MANY OF THESE DEVELOPMENTS AND I'M GOING TO DO EVERYTHING I POSSIBLY CAN TO PROVIDE THE SAFEST ENVIRONMENTS FOR OUR
RESIDENTS LIVING IN PUBLIC HOUSING. THANK YOU, MADAM CHAIR. THANK YOU, COUNCILOR FLYNN. UM, I WILL ESSENTIALLY WAIVE MY OPENING REMARKS BECAUSE I'D LOVE TO GET INTO, UH, PRESENTATION FROM ALL OF YOU.
SIMPLY PUT, I'M PROUD TO HAVE SUPPORTED THIS AND WILL CONTINUE TO SUPPORT THIS. AS IT'S BEEN MENTIONED WE ARE IN A HOUSING CRISIS. EAST BOSTON IN PARTICULAR COULD BENEFIT FROM THE POTENTIAL REVENUE THAT WE WOULD BE GENERATING FROM THIS.
SO UH MY GOAL IS TO MOVE THIS EXPEDITIOUSLY THROUGH THE COUNCIL. WE'VE DONE IT BEFORE THROUGH A 12 ONE VOTE. UH, THIS IS OUR THIRD TIME DOING IT AND SO JUST PROUD TO SUPPORT IT AND REALLY LOOK FORWARD TO AGAIN GETTING INTO
THE PRESENTATION. UM I SEE COUNCILOR CULPEPER HAS JOINED US. COUNCILOR CULPEPER, WOULD YOU LIKE, UH, TO PROVIDE ANY OPENING REMARKS? THANK YOU. COUNCILOR AND THANK YOU COUNCILOR DEPARTING FOR HOLDING
THIS HEARING. THANK YOU, COUNCILOR SANTANA FOR BRINGING THIS HOME RULE PETITION FORWARD. WE'RE CONFRONTING REALITY. WE ALL RECOGNIZE BOSTON
CONTINUES TO FACE A SEVERE HOUSING AFFORDABILITY CRISIS WITH OVER 43,000 HOUSEHOLDS INCLUDING NEARLY 14,000 SENIORS STRUGGLING UNDER THE WEIGHT
OF HOUSING COSTS. WHILE TRADITIONAL FUNDING SOURCES DECLINE. WHILE THIS PROPOSAL HAS THE POTENTIAL TO CREATE TENS OF MILLIONS IN ANNUAL FUNDING,
THE KEY QUESTION BEFORE US HOW WILL IT IMPACT HOUSING PRODUCTION? HOW FUNDS WILL BE ALLOCATED, WHETHER IT'S EQUITABLE AND SUSTAINABLE AND HOW IT
COMPLEMENTS EXISTING EFFORTS? ULTIMATELY THIS IS NOT JUST ABOUT BUILDING MORE HOUSING AND GOOD TO SEE YOU UH TO DEAL IN
UH IT IS ABOUT INSURANCE THAT ABILITY FOR RESIDENTS ESPECIALLY OUR SENIORS AT RISK OF DISPLACEMENT. EMILY, YOU'VE BEEN DOING A GREAT JOB.
GOOD TO SEE YOU THERE. MAKE THE BOK. BUT THE FACT OF THE MATTER IS OUR SENIORS, OUR ADDRESS AND
DESIGNING A POLICY THAT IS BOTH EFFECTIVE AND ACCOUNTABLE AND MEETING THE SCALE OF BOSTON HOUSING NEEDS IS WHY WE'RE HERE TODAY. SO I THANK COUNCILORS ZAPATA AND SANTANA FOR BRINGING THIS
FORWARD. YOU KNOW, I'VE GOT A LOT OF IDEAS ABOUT SENIOR HOUSING AFTER THE 27 YEARS AT HUD. I'D LIKE TO DISCUSS AND EXPLORE SOME OF THEM. IT'S JUST GOOD TO BE WITH YOU.
>> THIS MORNING. THANK YOU, MADAM CHAIR. THANK YOU, COUNCILOR CULPEPER. UH, WE'VE BEEN DRAWN BY COUNCILOR WEBER. YOU NOW HAVE THE FLOOR FOR ANY OPENING REMARKS. UH. >> THANK YOU. UH. >> NICE TO SEE EVERYBODY, UH,
HERE TODAY. UM, YOU KNOW, I I HAD A CHANCE TO SPEAK AT THE BUDGET BREAKFAST ABOUT, YOU KNOW, THE NEED FOR US TO BE ABLE TO HAVE SOME CONTROL OVER, UH, YOU
KNOW, HOW WE RAISE REVENUE AND TO TO TO RAISE REVENUE FOR HOUSING, UH, AND TO HELP PEOPLE HERE. I KNOW CHIEF DILLON TALKED ABOUT HOW IMPACTFUL SOMETHING LIKE THIS CAN BE.
UH, FOR PEOPLE WHO NEED HOUSING THE MOST IN OUR CITY. AND SO I JUST WANT TO THANK THE FILERS AND, UH, LOOK FORWARD TO WORKING ON IT. THANK YOU. CHAIR. THANK YOU, COUNCILOR WEBER.
OKAY, UH, I'LL NOW PASS IT OVER TO OUR PANEL WHICH INCLUDES CHIEF OF HOUSING SHEILA DILLON, ADMINISTRATOR FROM THE BOSTON HOUSING AUTHORITY KENZIE BOK AND OUR UM, COMMISSIONER
OF AGENT EMILY SHAY. UH, PLEASE FEEL FREE TO START IN YOUR PREFERRED ORDER. GREAT. >> UH, I'LL KICK IT OFF AND THEN, UH, PASS IT ON TO MY ESTEEMED COLLEAGUES. BUT THANK YOU, UH, COUNCIL FOR HAVING THIS VERY IMPORTANT HEARING. UM.
UH, I THINK IT WAS COUNCILOR COLLETTA ZAPATA THAT'S HAD OR MAYBE IT WAS COUNCILOR LOUIJEUNE THAT SAID NOW MORE THAN EVER, RIGHT. IT WOULD HAVE BEEN VERY IMPORTANT TO HAVE THIS PASSED
IN YEARS UH, IN PREVIOUS YEARS. BUT NOW IT IS CRITICAL I'M GOING TO SPEND A VERY SHORT PERIOD OF TIME GOING OVER THE THE PROPOSED POLICY AND WHAT IT WOULD MEAN FOR FOR US.
SO UM, THE. HOME RULE PETITION WOULD ENABLE THE CITY TO IMPOSE A TRANSFER FEE UP TO 2% HAS BEEN DISCUSSED ON CERTAIN REAL ESTATE TRANSACTIONS AND THIS FEE WOULD GREATLY INCREASE.
OF COURSE THE RESOURCES OF AVAILABLE FOR AFFORDABLE HOUSING INCLUDING SUPPORTING THE CREATION OF NEW INCOME RESTRICTED HOUSING AND THE PRESERVATION OF UH THE HOUSING THAT WE HAVE.
THIS PETITION WOULD ALSO INCREASE HOUSING STABILITY FOR BOSTON SENIORS, UM HOMEOWNERS BY EXPANDING THE ELIGIBILITY OF AND INCREASING THE TAX RELIEF PROVIDED UH, TO SENIOR
HOMEOWNERS. AND EMILY IS GOING TO TALK A BIT ABOUT THAT. SO I JUST. PUTTING UP A VERY SIMPLE UM, EXAMPLE OF HOW ONE TRANSACTION
UM, COULD, YOU KNOW, MAKE A DIFFERENCE AND UH, YOU ADD THOSE UP AND UM, WE'LL TALK ABOUT HOW MUCH THIS POLICY COULD INDEED RAISE. SO AS WAS MENTIONED, UH, THE TRANSFER FEE EXEMPTS THE FIRST
2 MILLION OF ANY TRANSACTION. IT ALLOWS A FEE OF UP TO 2%, UH ,AND IT PERMITS THE CITY OF BOSTON TO CREATE OTHER EXEMPT OTHER EXEMPTIONS BY ORDINANCE INCLUDING AFFORDABLE
HOUSING DEVELOPMENTS, UH, AND FOR UH HOUSING THAT IS OWNED BY VULNERABLE POPULATIONS. SO WHILE THE ORDINANCE THE ORDINANCE GIVES US SOME FLEXIBILITY AFTER IT'S PASSED TO REALLY WORK TOGETHER AND
FIGURE OUT THE RIGHT EXEMPTIONS ,IT DOES COVER ALL PROPERTY TYPES BOTH RESIDENTIAL AND COMMERCIAL. AND HERE THE EXAMPLE THE SALES PRICE IS 5 MILLION. UH WE EXEMPT THE FIRST 2
MILLION WHICH WAS DISCUSSED. WE APPLY THE 2% TO THE VALUE TO THE REMAINING VALUE AND WE GET A TRANSFER FEE OF $60,000. THIS IS A REALLY IMPORTANT
SLIDE AND WE JUST UM WE UPDATED THESE NUMBERS. UM, SO IN THE LAST FOUR YEARS IF WE HAD PASSED THIS YOU KNOW
PREVIOUSLY WE WOULD HAVE RAISED $180 MILLION AS A CITY FOR OUR AFFORDABLE HOUSING PROGRAMS AND THAT THAT'S THAT SUM IS JUST STUNNING AND THERE'S NO REASON
TO BELIEVE THAT THOSE NUMBERS WON'T WON'T BE SUSTAINED. RIGHT. WE'RE GOING TO SEE VERY, VERY UH, LARGE UM REVENUE SOURCES THAT THAT COULD BE RAISED
THROUGH THIS POLICY BUT $180 MILLION. UM WHY DO WE NEED A TRANSFER FEE? I'VE BEEN HERE IT SEEMS LIKE NOW UH, SEVERAL TIMES OVER THE
LAST WEEK OR TWO TALKING ABOUT THE NEED FOR ADDITIONAL, UH, AFFORDABLE HOUSING AND ADDITIONAL RESOURCES BUT JUST TO, UH, REALLY DRIVE HOME THIS POINT WE RIGHT NOW IN THE CITY
OF BOSTON EVEN THOUGH WE HAVE BUILT A LOT OF AFFORDABLE HOUSING AND I THINK WE CAN ALL BE VERY PROUD OF THAT. WE HAVE 43,000 HOUSEHOLDS, 24% OF ALL RENTERS THAT ARE EXTREMELY SEVERELY RENT
BURDENED. THAT MEANS THEY'RE PAYING MORE THAN 50% OF THEIR GROSS INCOME IN RENT 13,000 ALMOST 14,000 OF THOSE HOUSEHOLDS ARE OLDER
ADULTS AND HOMEOWNERSHIP, AS WE ALL KNOW, IS OUT OF REACH FOR MANY. SO WE HAVE BEEN WORKING REALLY HARD UH, TO BUILD. ADDITIONAL UH, NEW INCOME
RESTRICTED HOUSING AND UH BUYING UH EXISTING PORTFOLIOS IN THE MARKET AND CONVERTING THEM TO AFFORDABLE HOUSING. ADMINISTRATOR BOK AND HER TEAM HAVE BEEN WORKING VERY HARD TO
INCREASE THE SUPPLY AND PRESERVE WHAT WE HAVE. BUT ALL OF THAT ACTIVITY WE KNOW IS NOT ENOUGH. WHAT MAKES THIS ALL THE MORE IMPORTANT RIGHT NOW THIS
DISCUSSION ALL THE MORE IMPORTANT THIS EFFORT, ALL THE MORE IMPORTANT IS THAT WE DO HAVE DECLINING FUNDING. UM, AND WE UH YOU KNOW THAT BECAUSE YOU'RE LOOKING AT THE
BUDGETS RIGHT NOW BUT HUD GRANTS EVEN THOUGH WE ARE WATCHING THEM VERY CLOSELY UH, THEY WE ARE SEEING SMALL DECLINES AND WE'RE CONTINUING TO FIGHT TO HOLD ON TO ALL THE
HUD ALL THE HUD FUNDING THAT WE HAVE OUR ONE TIME PANDEMIC FUNDING, UH, THAT YOU ALL HELPED US SPEND IN CRAFT ARPA THE CARES ACT IS WINDING DOWN
REVENUE TIED TO LINKAGE INCLUSIONARY DEVELOPMENT IS ALSO DOWN DUE TO A WEAKENING REAL ESTATE MARKET AND THE CITY BUDGET IS CONSTRAINED.
SO WHAT WOULD WE DO WITH ALL THIS MONEY IF WE HAD IT? UM WE WOULD WE WOULD BE VERY VERY HAPPY ONE UH WE WOULD CELEBRATE AND UM THE FEES WOULD GO INTO THE NEIGHBORHOOD HOUSING TRUST UH, FOR FOR GOOD
STEWARDSHIP. THIS IS. >> A CITY BOARD THAT CURRENTLY MANAGES UH THE THE FUNDS THAT THE CITY RECEIVES FROM UH LINKAGE FEES FUNDS CAN BE USED FOR THE DEVELOPMENT OR PRESERVATION OF INCOME
RESTRICTED HOUSING UH TO UH A VARIETY OF HOUSING TYPES IF THE INCOMES ARE LESS THAN 80% OF AMI IN THE VAST MAJORITY OF WHAT WE SPEND OUR MONEY SERVES A MUCH LOWER INCOME
POPULATION. THIS UH THIS VERY IMPORTANT LEGISLATION WOULD ALSO PROVIDE TAX RELIEF TO SENIOR HOMEOWNERS . AND I'M GOING TO PASS THIS OFF TO UM, EMILY SHAY TO TALK ABOUT
THAT IN MORE DETAIL. SURE. >> UM. THANK YOU SO MUCH. UH, CHIEF DILLON, UM, CHAIR, UH ,VICE CHAIR AND COUNCIL MEMBERS. UM, THANK YOU FOR HAVING THIS
HEARING TODAY. UM, EIGHT STRONG SUPPORTS BOTH THE TRANSFER TAX AND CHANGES TO THE 41 C EXEMPTION. LIKE YOU, WE SEE OLDER PEOPLE
EVERY DAY WHO ARE IN NEED OF AFFORDABLE HOUSING OR WHO ARE HAVING TROUBLE MEETING ALL OF THEIR EXPENSES. MANY OLDER ADULTS IN BOSTON ARE FACING CHALLENGING FINANCIAL
SITUATIONS AND ALL TOO OFTEN THE GENERATION THAT MADE OUR CITIES AND COMMUNITIES THE THRIVING PLACES THEY ARE TODAY ARE FORCED TO CHOOSE BETWEEN PAYING THEIR HOUSING COSTS, EATING FOOD AND PAYING FOR
MEDICATIONS. IN FACT, FOR OLDER PEOPLE OVER 65 AND LIVING INDEPENDENTLY OVER TWO THIRDS OF INDIVIDUALS AND 43% OF OLDER COUPLES HAVE
INCOMES THAT ARE BELOW THE ELDER INDEX, MEANING THAT THEY HAVE LESS INCOME THAN IT COSTS THEM TO LIVE IN OUR CITY. THIS MAKES THE EXPANSION OF THE 41 C ELDERLY EXEMPTION THE
ADDITIONAL ACCESS TO AFFORDABLE HOUSING THAT THE TRANSFER FEE WILL SUPPORT AND OTHER BENEFIT PROGRAMS CRITICAL AS THEY HELP TO BRIDGE THIS GAP. UM YOU CAN SEE UH ON THE SCREEN
THE CHART UM THAT OUTLINES SOME OF THE CHANGES THAT ARE BEING PROPOSED FOR THAT 41 C EXEMPTION. UM, THE INCOME LIMITS WILL BE INCREASED TO 50% AMI UM THE
ASSET LIMIT WOULD BE DOUBLED UM FOR SO IT WOULD MOVE TO 80,000 FOR AN INDIVIDUAL AND 110,000 FOR A COUPLE. UM AND THE AMOUNT OF THE EXEMPTION WOULD ALSO INCREASE.
UM SO RIGHT NOW UH THE EXEMPTION IS A THOUSAND AND ASSESSING IF YOU'RE ELIGIBLE CAN ADD AN ADDITIONAL $1,000. UM IT WOULD INCREASE TO UH 1500
FOR THE BASE AMOUNT AND ASSESSING WOULD BE ABLE TO ADD AN ADDITIONAL 1500 TO THAT TO MAKE A TOTAL OF 3000 UM FOR FOR SOME PEOPLE.
UM SO WE ARE EXCITED ABOUT THIS PROPOSAL CONTINUE TO BE EXCITED ABOUT THIS PROPOSAL UM AND ENCOURAGE THE CITY COUNCIL TO MOVE IT FORWARD. THANK YOU FOR ALL OF YOUR SUPPORT AND ADVOCACY FOR OLDER
PEOPLE AND FOLKS NEEDING ASSISTANCE IN THE COMMUNITY. AND UM I WILL TURN IT OVER TO DIRECTOR BOK. THANK YOU SO MUCH. UM, COMMISSIONER SHAY AND CHIEF DILLON AND THANK YOU, COUNCILORS, UM, FOR HOLDING
THIS IMPORTANT HEARING. UH, IT'S SOMETHING CERTAINLY A PIECE OF LEGISLATION I WAS VERY PROUD. TO VOTE ON WHEN I WAS A COUNCILOR. UM, AND I ONLY WISH THAT YOU WERE NOT IN THE POSITION OF VOTING ON IT AGAIN BECAUSE IT HAD ALREADY PASSED.
UM, BUT I THINK IT AS AS MY COLLEAGUES HAVE ALREADY TESTIFIED TO IT'S A REALLY CRITICAL MOMENT, UM, FOR FOR THIS PIECE OF LEGISLATION AND SO NOW MORE THAN EVER, UM, I JUST WANTED TO REFLECT A LITTLE
BIT ON WHY THIS IS SO IMPORTANT FOR THE BOSTON HOUSING AUTHORITY. UM, COUNCILOR FLYNN ALLUDED TO THE FACT THAT WE HAVE UH, QUITE A LOT OF FEDERAL PUBLIC HOUSING THAT WE'RE VERY PROUD TO OWN HERE IN BOSTON.
UM, BUT IT RECEIVES STILL REALLY A PITTANCE IN TERMS OF THE MONTHLY UM, SUBSIDY THAT SUPPORTS IT. AND WE'RE ONE OF THE UH WE'RE ONE OF THOSE CITIES IN THE COUNTRY WITH THE MOST PUBLIC
HOUSING AUTHORITY WHEN YOU PUT ASIDE NEW YORK OBVIOUSLY, UM, THAT STILL HAS ITS STILL ON THAT OLD WHAT'S CALLED THE SECTION NINE PROGRAM. UM AND ONE OF THE REAL CHALLENGES OF AFFORDABLE HOUSING LIKE FINANCE IS THAT ON
THE VOUCHER SIDE YOU GET A LOT MORE MONEY PER MONTH AND THEN ON THE PUBLIC HOUSING SIDE YOU GET A VERY VERY SMALL AMOUNT PER MONTH AND THAT REALLY HURTS OUR OPERATING BUDGETS RIGHT. SO IT MEANS THAT LIKE WHEN WE'RE TALKING ABOUT THINGS LIKE HAVING SECURITY GUARDS OR
ADDITIONAL MAINTENANCE AND CAPITAL INVESTMENT LIKE YOU'RE JUST NOT GETTING THE MONEY FOR THAT BUT YOU'RE IN A CATCH 22 BECAUSE THE FEDS WON'T LET YOU SWITCH THE PUBLIC HOUSING. TO VOUCHER SUBSIDY UNLESS YOU
MAKE A WHOLE BUNCH OF UPFRONT INVESTMENT IN ORDER TO ADD THE ACCESSIBILITY AND THE KIND OF LIKE MODERN CONVENIENCES THAT THIS HOUSING THAT WE HAVE FROM THE 40S AND 50S LACK. SO IN BOSTON WE'VE BEEN IN KIND
OF THIS TRAP WHERE IN ORDER TO GET TO A PLACE WHERE WE WOULD GET MORE MONEY TO PAY FOR ALL THE THINGS THAT WE WANT TO SUPPORT OUR RESIDENTS IN OUR BUILDINGS, WE FIRST NEED A BIG CHUNK OF MONEY IN ORDER TO MAKE THOSE IMPROVEMENTS.
AND SO YOU KNOW, THE CITY HAS BEEN INCREDIBLE IN STEPPING UP WHERE THE FEDERAL GOVERNMENT STEP BACK WITH THESE ONE-TIME GRANTS TO HELP SUPPORT US ON THAT. UM, BUT IT'S JUST WITH THE CURRENT REVENUE SITUATION JUST
HARD TO GET THERE FROM HERE IN TERMS OF HOW MUCH OF THAT SUPPORT WE NEED AND IT JUST TO COUNCILOR FUNDS POINT MAKES A REAL DIFFERENCE IN THE LIVES OF OUR RESIDENTS. SO I DO WANT TO STRESS YOU KNOW THIS THIS FUNDING IS BOTH ABOUT
CREATING NEW HOUSING BUT IT'S ALSO ABOUT THAT STABILIZING AND LONG TERM PRESERVATION OF SOME OF THE LIKE CRITICAL COMMUNITIES ESPECIALLY UM AS HAS BEEN REFERENCED HERE, SENIOR SERVING COMMUNITIES THAT
WE HAVE IN UM ALMOST EVERY NEIGHBORHOOD OF THE CITY OF BOSTON. SO I JUST WANT TO STRESS HOW IMPORTANT THIS IS AND ALSO TO SAY THAT, YOU KNOW, I THINK WE HAVE EVERY REASON IN BOSTON TO BE REALLY PROUD OF THE FACT
THAT WE YOU KNOW, WHEN WE HAD THIS OPPORTUNITY WITH ARPA, WE ACTUALLY LIKE SPENT THE MAJORITY OF IT ON HOUSING AND WE SPENT MORE OF OUR ARPA DOLLARS THAT WERE AT THE CITY'S
DISCRETION ON HOUSING THAN ANY OTHER CITY IN AMERICA. UM, AND WE HAVE HUGE FRUITS TO SHOW FROM THAT. THERE'S A LOT OF PEOPLE HERE IN THIS ROOM TODAY WHO'VE BEEN INVOLVED IN CREATING NEW HOUSING USING THAT THAT RESOURCE.
UM, BUT IT ALSO MEANS THAT WE'VE BUILT A SYSTEM THAT CAN CONTINUE TO PRODUCE MORE HOUSING IF IT HAS THE RESOURCE AND IT'S JUST GOING TO BE LIKE A REAL SHAME IF AS THAT
RESOURCE DIMINISHES THE SORT OF PIPELINE AND LIKE SYSTEM OF LIKE REALLY IMPRESSIVE HOUSING PROFESSIONALS THAT WE HAVE HERE IN BOSTON ARE NOT ABLE TO CONTINUE TO DO THAT IN THE SAME WAY. AND SO I JUST THINK LIKE A LOT
OF TIMES WHEN PEOPLE ARE TALKING ABOUT A REVENUE STREAM, THEY'RE THEN WORRYING ABOUT SOME OF THOSE QUESTIONS ABOUT LIKE IS THIS GOING TO BE STEWARDED APPROPRIATELY? WILL WE HAVE THE INFRASTRUCTURE TO LIKE ACTUALLY USE IT WELL ETC. I THINK WHAT'S AMAZING
HERE IS THAT WE REALLY DON'T HAVE THOSE QUESTIONS. WE KNOW THAT WE HAVE THE INFRASTRUCTURE TO USE IT WELL LIKE WE'RE DOING IT UM I THINK WE'RE THE ENVY OF MANY OTHER PLACES IN THE COUNTRY ON THAT BUT WE JUST THE NEED IS SO HIGH
AND WE JUST WE REALLY NEED THIS FUNDING AND I THINK THAT THESE DECISIONS ARE SUPER IMPORTANT. THEY HAVE REALLY LONG TAILS. UM, I WAS THINKING COUNCILOR FLYNN ABOUT I THINK ONE OF THE MOST LIKE PROBABLY
ONE OF THE MOST LONG LASTING ACCOMPLISHMENTS OF MAYOR FLYNN'S ADMINISTRATION WAS THE INVENTION OF LINKAGE, WHICH I KNOW THAT UM, UH, CHIEF DYLAN MENTIONED UM AND YOU KNOW, THAT
CONTINUES THAT WAS SOMETHING THAT WAS PUT IN IN THE 80S AND IT'S A VERY SMALL SURCHARGE ON THE COMMERCIAL PROPERTY DEVELOPMENT, BUT IT HAS FUNDED JUST THESE LIKE THOUSANDS OF UNITS OVER THE 40 YEARS
SINCE. AND IT IS IT'S A BIG PIECE OF THE REASON THAT WE'RE THAT CITY WITH THE HIGHEST DEED RESTRICTED HOUSING IN THE COUNTRY. AND I MEAN WHEN YOU THINK ABOUT IT, I THINK I WAS LOOKING AT THE NUMBER THE OTHER DAY AND
LIKE SINCE LINKAGE WAS ENACTED IN THE 80S IT'S BROUGHT IN 300 MILLION AND THAT HAS TURNED INTO LIKE I SAID, THERE'S JUST THOUSANDS OF HOMES FOR LOW INCOME BOSTONIANS. SO I REALLY I'M GRATEFUL FOR THE LEADERS OF THE PAST WHO HAVE DONE THINGS LIKE THIS IN
THOSE MOMENTS. AND I THINK IT'S REALLY GREAT IF THE COUNCIL UM CAN, YOU KNOW, TAKE THAT ACTION AND THEN ASK THE STATE HOUSE TO TAKE THIS ACTION IN THIS MOMENT AND I WILL JUST SAY ON THE STATE HOUSE THE ONE THING THAT I
WANTED TO ADD BEFORE HITTING THE FLOOR, MADAM CHAIR, IS JUST THAT UM, YOU KNOW, I THINK THIS IS A PARTICULARLY IMPORTANT MOMENT TO ACT BECAUSE WE KNOW THAT AT THE STATE HOUSE THERE'S A LOT OF UM, WEIGHING OF LEGISLATION THAT HAPPENS IN
THE FIRST YEAR OF THEIR SESSION AND THEN IT'S OFTEN IN THE SECOND YEAR OF THEIR SESSION AND BECAUSE OF THE ELECTION CYCLE SPECIFICALLY THE FIRST HALF OF THE SECOND YEAR KIND OF UP THROUGH JULY 31ST WHEN A LOT OF THE DEFINITIVE ACTION ON
BILLS HAPPENED. AND SO WE KNOW THAT THERE ARE A NUMBER OF OTHER CITIES AND TOWNS THAT HAVE THEIR TRANSFER FEE UM, HOME RULE PETITION UP ALREADY. AND SO I THINK THAT GETTING OURS UP THERE AS WELL BEFORE
THE KIND OF LIKE REPORTING DEADLINES AND UM AND DEFINITIVE ACTION STEPS THAT ARE GOING TO HAPPEN UH, IN THE LATER SPRING AND SUMMER HAPPEN IS REALLY CRITICAL AND WE WE BECAUSE OF ALL THE URGENCY EVERYONE HAS EXPRESSED WE CANNOT AFFORD TO
WAIT ANOTHER TWO YEARS. SO I WOULD JUST URGE THE COUNCIL'S EXPEDITIOUS ACTION AND I THINK IT'S ALSO A GOOD REASON TO TO SORT OF GET IT UP THERE KNOWING THAT THE STATE HOUSE YOU KNOW, IT'S AN AMENDABLE PETITION AND THEY ARE
LIKELY TO THINK ABOUT IT IN TERMS OF ALL THESE OTHER ONES AND THINK ABOUT HOW TO HARMONIZE THEM. SO I THINK IT IS A SITUATION WHERE WE WANT TO MAKE SURE THAT WE JUST GET SOMETHING UP TO THEM AS SOON AS WE CAN. THANK YOU SO MUCH, MADAM CHAIR.
THANK YOU SO MUCH, UH, ADMINISTRATOR AND THANK YOU ALL FOR YOUR TESTIMONY. I WANT TO GO TO THE JOINED BY COUNCILOR FITZGERALD. UH, BEFORE I PASS IT OVER TO THE LEAD SPONSOR. I DO JUST WANT TO, UM, THANK
YOU FOR ELEVATING THE, UM, THE URGENCY THAT WE HAVE RIGHT NOW OR THAT, UH, THAT WE'RE OPERATING IN AS A CITY AND WHERE THE STATE HOUSES I THINK UM, THIS IS WHY I AS CHAIR IT IS MY GOAL TO MOVE THIS
EXPEDITIOUSLY BECAUSE THIS IS THE MOMENT TO SEND IT UP TO THE STATE HOUSE AND STAND UNITED AS A CITY AND REALLY SEND A MESSAGE TO THE STATE HOUSE THAT THIS IS A PRIORITY AND THIS IS A TOOL THAT, UM, THAT WE DESPERATELY NEED HERE IN THE
CITY OF BOSTON. SO THANK YOU FOR THAT. I'LL NOW PASS IT OVER TO COUNCILOR SANTANA FOR HIS QUESTIONS. EVERYBODY WILL GET SIX MINUTES. UH. >> THANK YOU. GOODBYE. AWESOME. >> THANK YOU, MADAM CHAIR.
UM, AND THANK YOU FOR FOR TO OUR PANELISTS, UM, I'M GOING TO START WITH UM, CHIEF DILLON AND I THINK, YOU KNOW, YOU THINK YOU TOUCHED AND TOUCHED ON THIS QUESTION. I THINK ADMINISTRATOR BROCK JUST ALSO TOUCHED ON IT AS
WELL. BUT CAN YOU BREAK DOWN HOW A TRANSFER FEE WOULD FIT INTO THE CITY'S BROADER HOUSING STRATEGY, UM, INCLUDING PRODUCTION, PRESERVATION AND ENTITIES UM, DISPLACEMENT EFFORTS?
SHOULD I THINK YOU KNOW, UH ONE THAT IF THIS PASSED WE WOULD CERTAINLY BE WORKING WITH THE COUNCIL THE ADMINISTRATION TO REALLY LOOK AT WHAT THE NEEDS ARE AT THAT TIME AND COME UP
WITH UH, A SPENDING PLAN THAT THAT GETS A LOT OF INPUT. BUT I CAN TELL YOU THAT RIGHT NOW WE HAVE UM, UH, A VERY LONG
PIPELINE OF FABULOUS INCOME RESTRICTED HOUSING THAT WE NOW HAVE TO PUSH OUT TO THREE FOUR YEARS BECAUSE WE DON'T HAVE THE RESOURCES TO ACT. AND AS ADMINISTRATOR BOCK
MENTIONED TO, YOU KNOW, PUBLIC OUR PUBLIC HOUSING IS ALWAYS A DOESN'T HAVE ENOUGH RESOURCES TO REALLY BE PRESERVED. AND SO I MEAN I THINK THERE'S A VERY BIG PRESERVATION COMPONENT
AND I THINK WE KNOW WE HAVE A PIPELINE OF FABULOUS PROJECTS THAT WE COULD ADVANCE. UH OF COURSE THEN THEY HAVE TO GO TO THE STATE AND OTHER PLACES BUT STILL WE WOULD BE ABLE TO FULLY FUND AND MOVE
THOSE THINGS FORWARD WHETHER WE SPEND IT MORE ON HOUSING FOR OUR SENIORS OR FAMILIES OR YOU KNOW, UH, SUPPORTIVE HOUSING FOR FOLKS EXITING HOMELESSNESS. WE WOULD WORK BE WORKING VERY
CLOSELY WITH THE COUNCIL TO LOOK AT THE DATA AT THAT TIME. BUT THE NEED IS ENDLESS AND WE WE DO UH, AS WAS MENTIONED, WE DO HAVE REALLY WONDERFUL PARTNERS THAT WE WE WANT TO
SUPPORT WE WANT TO SUPPORT BECAUSE OF THEIR TALENT. SO UM SHORT ANSWER WOULD WOULD BE WORKING VERY CLOSELY WITH YOU BUT THE NEED IS IS SIGNIFICANT AND WE'VE GOT A PIPELINE ALREADY. THANK YOU. >> UM AND COMMISSIONER I YOU KNOW I REALLY APPRECIATE YOU
BEING HERE. UM, I THINK UH, WHEN DRAFTING THIS RIGHT I THINK WE WE ALL THINK ABOUT OUR SENIORS, UM, AND UH, THE SITUATION THAT MANY OF THEM ARE GOING THROUGH. SO AND I KNOW YOU TOUCHED ON IT
BUT UH, YOU KNOW, HOW WOULD AN ADDITIONAL TARGETED RELIEF UM, FUNDED THROUGH SOMETHING LIKE THE TRANSFER FEE TRANSLATE INTO REAL TANGIBLE SUPPORT FOR OUR SENIORS? AND, UH, YOU KNOW, I DO WANT TO
THANK ALL OF OUR SENIORS WHO ARE HERE WITH US TODAY WHO HAVE BEEN WORKING ON THIS, UM, FOR SO MANY YEARS. UM, BUT, UM, COMMISSIONER SHEA ,UM. IF YOU MADE.
SURE, UM, WE KNOW THAT UM, UH, THAT HAVING MORE PEOPLE ELIGIBLE FOR THIS BENEFIT UM, THE 41 C EXEMPTION AND ALSO UH,
HAVING THAT BE MORE MONEY WOULD BE ENORMOUS TO OUR OLDER PEOPLE. WE JUST HELD A SERIES OF COST SAVING CLINICS ACROSS THE CITY. UM, AND WE WERE OUT THERE
ENROLLING PEOPLE IN THE 41 C AND OTHER BENEFIT PROGRAMS. UM, WHEN YOU HEAR SOME OF THE STORIES OUT THERE, UM, OF OF FOLKS THAT HAVE DONE EVERYTHING
RIGHT IN THEIR LIVES UM, AND UM STILL DON'T HAVE THE MONEY TO MEET THEIR BASIC EXPENSES. UM, IT JUST UH I THINK REALLY PUTS UH, A FACE TO THE FACT
THAT THESE PROGRAMS ARE OUR CRITICAL UM AND SO BEING ABLE TO EXPAND ELIGIBILITY FOR THE EXEMPTION, UM, AND MAKING IT MORE MONEY I THINK WOULD WOULD HAVE A HUGE IMPACT ON PEOPLE.
THANK YOU. UM, AND THANK YOU FOR YOUR EFFORTS. UM, AND LEADING. UM. >> UH, YOU KNOW, OUR SENIORS, UM, ADMINISTRATOR BROCK, UM, REALLY APPRECIATE YOU BEING HERE. UM, AND YOU KNOW, AS SOMEONE
WHO GREW UP IN PUBLIC HOUSING, I, UM YOU KNOW, I HAVE A REAL INTEREST ON HOW, UM, THIS TRANSFER FEE WOULD HELP OUR OUR PUBLIC HOUSING RESIDENTS. UM, AND IN PARTICULAR, YOU
KNOW, OUR SENIORS I KNOW YOU TOUCHED ON THIS AS WELL IN YOUR OPENING REMARKS. UM, WELL, WITH WITH THIS TRANSFER FEE HOW HOW WHAT WHAT WHAT CAN PUBLIC HOUSING RESIDENTS EXPECT? UM, AND REAL LIFE CHANGE.
UM, YOU KNOW, ONCE IT'S TRANSFERRED. YEAH. >> SO THANK YOU, COUNCILOR I THINK IT'S BOTH UM IT'S BOTH THE, YOU KNOW, FUNDING TO MAKE THOSE BIG ONE TIME INVESTMENTS. UM AND AGAIN, IT'S NOT THAT WE'RE NOT DOING THOSE WE'VE GOT
WE'RE VERY EXCITED TO HAVE THE SAINT BITOF PROJECT UNDERWAY IN THE BACK BAY, FOR EXAMPLE. BUT IT'S JUST THAT WE HAVE SO MANY OF THESE LARGE SENIOR BUILDINGS THAT NEED THOSE KIND OF INVESTMENTS. UM, AND THIS WOULD LET US DO MORE OF THEM.
BUT ALSO THE KEY THING IS IT'S NOT JUST THE ONE TIME BECAUSE WHEN WE MAKE THE ONE TIME WE'RE ABLE TO MAKE THAT SWITCH TO A SUBSIDY THAT PROVIDES A MORE LIKE REASONABLE ONGOING OPERATING BUDGET SO THAT YOU
ALSO DON'T END UP WITH THE SAME DEFERRED MAINTENANCE NEEDS THAT YOU THAT YOU HAVE WITH A REALLY LOW BUDGET TODAY. SO I THINK IT'S REALLY TRANSFORMATIVE AND AND REALLY AS I SAID THE BAY IS ALREADY
LIKE HAS A PLAN TO TRANSFORM ALL OF OUR SENIOR DEVELOPMENTS. IT'S JUST THAT THE TIME HORIZON OF IT IS SO EXTREMELY LONG WITHOUT MORE RESOURCE SLOWLY. >> WELL THANK YOU. UM, MADAM CHAIR, I THINK IT'S
CLEAR YOU KNOW THE URGENCY UM, THAT IS REQUIRED AT THIS MOMENT. UM, SO I REALLY APPRECIATE YOU, MADAM CHAIR, THAT, UM, YOU KNOW, YOU'RE PRIORITIZING THIS, YOU KNOW, MOVING FORWARD AND AND HOPEFULLY WE'RE ABLE TO
PASS THIS QUICKLY THROUGH UM, THROUGH OUR THROUGH THE COUNCIL. SO UM, AGAIN, THANK YOU TO OUR PARTNERS FOR BEING HERE. UM, I'M VERY MUCH IN SUPPORT OF THIS. I'M VERY MUCH IN SUPPORT. >> OF OUR SENIORS WHO WHO NEED THE RELIEF.
UM, AND WE WANT TO MAKE SURE THAT THEY AGE UM AND PLACE WITH RESPECT AND DIGNITY. SO, UM, THANK YOU, MADAM CHAIR, FOR, UM FOR ALLOWING ME TO ASK QUESTIONS. THANK YOU, UH,
COUNCILOR SANTANA AND SHOUT OUT TO THE SENIORS WHO ARE HERE. I'M ASKING YOUR ACTION. WE HAVE WE GOT CBA HERE. WE GOT A GREAT GROUP OF FOLKS THAT I CAN'T WAIT TO HEAR FROM, BUT, UH, WE'LL NOW GO TO COUNCIL LOUIJEUNE FOR QUESTIONS. THANK YOU, MADAM CHAIR.
AND THANK YOU TO THE ADMINISTRATION, UM, FOR YOUR PRESENTATION. UM, A LOT OF THE STATISTICS ARE JUST INCREDIBLY SOBERING. UM, WHEN WE THINK ABOUT THE NEEDS AND YEAH, I, UH I I
REMEMBER BEING ON A PANEL AFTER THIS NEW ADMINISTRATION CAME IN AND JUST THE WARNING SIGNS OF HOW IMPORTANT IT IS FOR US TO THINK ABOUT AT THE STATE AND LOCAL LEVEL HOW WE CAN GENERATE
OUR OWN REVENUE IN LIGHT OF EVERYTHING THAT IS HAPPENING. UM, AND IT BECOMES MORE AND MORE PRESSING. UM, A FEW WEEKS AGO I WAS AT THE WOODS MULLEN SHELTER WOMEN'S SHELTER AND UH I WAS
TALKING TO THE FRIENDS OF THE BOSTON HOMELESS WHO TOLD ME THAT THERE'S UH SHE'S BEEN SEEING A SIGNIFICANT INCREASE IN THE NUMBER OF OUR ELDERLY WOMAN WHO ARE FACING HOUSING
INSECURITY. I'M WONDERING, COMMISSIONER SHAY, IF YOU CAN YOU KNOW, AND THAT WAS STARTLING TO ME. IT WAS A STATISTIC THAT JUST MADE ME COMPLETELY UNCOMFORTABLE AND MADE ME THINK ABOUT WHAT ARE WE DOING AND WHAT CAN WE DO TO PUSH BACK
AGAINST THAT REALITY FOR OUR SENIORS WHO HAVE GIVEN THIS CITY SO MUCH, WHO HAVE DONE SO MUCH FOR THE CITY AND WHO SHOULD BE ABLE TO BE LIVING IN THEIR UH, GOLDEN YEARS STRESS FREE. SO I'M. WONDERING LIKE WHAT IS BEHIND
THAT STATISTIC? AND I'M I'M ASSUMING THE TRANSFER FEE IS ONE OF THE THINGS THAT WE CAN USE TO ADDRESS IT, BUT WOULD LOVE TO HEAR FROM YOU. SURE. >> UM, SO SO YOU'RE I THINK, UM, YOU KNOW, YOU YOU HEARD
ME TALK ABOUT THAT ELDER INDEX AND THE COST OF LIVING VERSUS INCOMES. I THINK, UH, THERE'S A LOT OF COMPLICATED PIECES THAT GO INTO HOW MUCH MONEY SOMEONE HAS AT THE END OF THEIR LIFE AND
CERTAINLY FOR WOMEN WHO MAY HAVE HAD LOWER PAYING JOBS, WHO MAY HAVE HAD TIME OUT OF THE WORKFORCE, UM. MOST SOCIAL. SECURITY PAYMENTS ARE ARE UH, YOU. KNOW.
>> DWARFED IN TERMS OF THE SIZE UH, YOU KNOW, THEY DON'T PAY ALL OF THE EXPENSES THAT SOMEBODY HAS. SO IF SOMEONE HAS A SMALL SOCIAL SECURITY PAYMENT, UM,
THEY MAYBE MAYBE HAVE A PENSION UM, BUT PROBABLY NOT UM, THEN THEY'RE NOT GOING TO BE ABLE TO MEET, UH, THE COST OF LIVING IN BOSTON. SO THEN I THINK WHAT YOU'RE
LEFT WITH IS FIGURING OUT THEN HOW DO YOU HELP SOMEONE ACCESS THE BENEFITS THAT ARE AVAILABLE? UM, SO MAYBE THEY ARE LUCKY ENOUGH TO GET A BAY UNIT WHERE THEY'RE PAYING 30% OF THEIR
INCOME FOR RENT. UM, BUT UH, BUT IF THEY'RE A PROPERTY OWNER, RIGHT. WHAT ARE THE TOOLS THAT WE HAVE THAT ALLOW THEM TO THEN KIND OF COVER THAT GAP?
UM, THERE'S THE PROPERTY TAX WORK OFF PROGRAM. THERE'S A SENIOR CIRCUIT BREAKER TAX CREDIT AT THE STATE LEVEL. UM, BUT THIS ELDERLY EXEMPTION IS A HUGE PART OF THAT.
UM, WHAT WHAT THIS UH, TRANSFER FEE WOULD DO OR WHAT THIS UM. BILL WOULD DO. IS MORE THAN DOUBLE UM THE UH THE.
UM INCOME GUIDELINES FOR PEOPLE. SO IT WOULD TAKE IT FROM 22.4% AMI FOR AN INDIVIDUAL TO 50% AMI UM, THAT'S A LOT MORE
PEOPLE WHO MIGHT BE ELIGIBLE TO GET THAT ASSISTANCE. AND I THINK WHEN WE THINK ABOUT BENEFITS OUT OF THE QUICK BUT UM, IT'S NOT JUST ONE THING THAT'S GOING TO HELP PEOPLE. WE NEED PEOPLE TO BE ELIGIBLE
FOR A WHOLE RANGE OF THINGS TO BE ABLE TO. COVER COVER THE GAP. RIGHT. >> UM THANK YOU FOR THAT. AND ONE I GETTING SHOT OUT THANK NATIONAL ACTION COUNCIL HAS BEEN INCREDIBLY ACTIVE AND JUST ALERTING US TO
THESE ISSUES AND JUST HEARING THEM AND SEEING THEM IN REAL TIME WHICH IS REALLY SOBERING. AND SO I WANT TO THANK YOU FOR THE WORK THAT YOU DO. UM, UH, COMMISSIONER BOK YEAH, YEAH. ADMINISTRATIVE OFFICE.
GOT ANYTHING. I REMEMBER? YOU KNOW, THIS IS THE THIRD TIME THAT THIS ISSUE WAS BEFORE THE COUNCIL. UH, I WAS I WAS GLAD TO VOTE ON IT EVERY SINGLE FOR ME AND I THINK FOR YOU AS WELL EVERY
SINGLE TIME THE LEGISLATION HAS ALSO CHANGED ACTUALLY, UM, I THINK ONE OF THE FIRST TIME THAT IT CAME I WAS NOT ON THE COUNCIL BUT THE SECOND TIME I WAS UM AND I THINK IT'S WORTH MENTIONING THAT SOME OF THE UH,
YOU KNOW, THAT THIS LEGISLATION HAS CHANGED IN RESPONSE TO SOME OF THE FEEDBACK ALREADY BECAUSE ORIGINALLY THE THE LEGISLATION WAS GOING TO CAPTURE, UM, ALL OF THE VALUE ABOVE 2 MILLION TO
UH INCLUDING THE $2 MILLION AND RIGHT NOW IT'S THE VALUE JUST ABOVE $2 MILLION. AND I WANT I WANT TO EXPRESS THAT THIS LEGISLATION HAS RESPONDED TO SOME OF THE CRITICISM THAT IS OUT THERE.
IT'S NOT JUST THIS IS THIS IS THE WAY AND IT MUST BE THIS WAY. YOU KNOW, WE'VE LISTENED TO SOME OF THE CONCERNS AND IT HAS CHANGED, YOU KNOW, MAYBE CAPTURING LESS OVERALL MONEY
FOR AFFORDABLE HOUSING BUT DOING THE WORK THAT I THINK IS IMPORTANT AND IN POLICY AND IN POLITICS OF NEGOTIATING SO THAT WE CAN ADVANCE WHAT WE NEED TO DO AS A CITY AND GET REVENUE. SO I JUST WANTED TO PUT THAT UM ON THE RECORD.
>> BECAUSE. BEFORE IT WAS CAPTURING UM ALL VALUE ABOVE $2 MILLION AND ABOVE AND NOW IT'S JUST THE 2 MILLION ABOVE THE $2 MILLION AMOUNT WHICH IS A LESSER AMOUNT BUT WOULD STILL GENERATE
ANYWHERE BETWEEN DEPENDING ON A NUMBER OF FACTORS 50 TO A $100 MILLION PROJECTIONS ARE I KNOW THAT WE ARE NOT WHEN YOU LOOK WHEN YOU LOOK AT LOCAL HOUSING SOLUTIONS AROUND THE COUNTRY, TRANSFER FEE IS OFTEN ONE
OF THE FIRST ONES LISTED AS A WAY OF GENERATING AFFORDABLE HOUSING. AND I ALWAYS ASK ABOUT THE COMPARATIVE LENS TO OTHER CITIES THAT HAVE SOMETHING SIMILAR. UM, SO WHETHER IT'S CHIEF DILLON OR ADMINISTRATIVE BLOCK
UM, IF YOU COULD ADDRESS THAT QUESTION ABOUT CITIES THAT HAVE ENACTED TRANSFER FEES AND WHAT WE'VE SEEN THERE. DO YOU WANT TO LET GO? UM. >> SO THERE YEAH, THERE'S A NUMBER OF JURISDICTIONS I'M SORRY I DON'T HAVE THE LIST IN
FRONT OF ME RIGHT NOW. UM, COUNCIL BUT WE CAN GET THAT FOR YOU. UM, BUT, UH, I MEAN, IT'S FUNNY IT'S ACTUALLY SOMETHING THAT, UM, WE HAVE IN A VERY SMALL WAY HERE IN BOSTON ON THE THE BPD
UM, PARCELS THAT WERE REDEVELOPED IN CHARLESTOWN AT A TIME WHEN THEY HAD LIKE YOU KNOW, THEY HAD LIKE NO ECONOMIC VALUE BUT THE CITY WANTED TO SEE ECONOMIC VALUE. IT SORT OF GAVE THAT VALUE AWAY TO PEOPLE.
BUT IT SAID HEY, IN THE FUTURE WHEN THIS IS WORTH A BUNCH MORE MONEY WHEN YOU SELL IT WE'RE GOING TO TAKE A LITTLE 2% UM, TRANSFER. SO THE FUNNY THING IS WE ACTUALLY HAVE THAT EVEN HERE UM, IN THAT SPECIFIC
CIRCUMSTANCE UM, YOU KNOW, IN IN MASSACHUSETTS THERE ARE SOME SPECIFIC TRUST FUNDS OUT ON THE CAPE UM, THAT OPERATE THIS WAY. UH, AND UM AND I THINK IN MANY
WAYS THEY'RE JUST RESPOND TO THE SAME ISSUES THAT WE HAVE. SO THIS IS NOT A NOVEL I THINK I WANT TO EMPHASIZE THIS IS NOT ACTUALLY A NOVEL FRAMEWORK EVEN HERE IN THE COMMONWEALTH. UM, AND UH AND TO YOUR POINT IT
HAS BEEN ADJUSTED I THINK THE ORIGINAL THRESHOLD WAS 1 MILLION TO GO UP. THERE WAS ALWAYS TWO. WAYS TO BUT. YEAH BUT WE GOT RID OF AS YOU SAID ALL THE NUMBER AND I THINK LIKE ALSO THE MASS INTERACTIONS
BEEN MENTIONED SEVERAL TIMES BUT THEY WERE A HUGE PART OF ADDING THE SENIOR PROPERTY TAX PIECE THAT UM COMMISSIONER SHEA HAS BEEN TALKING ABOUT. SO LIKE YOU SAY, THERE WAS A LOT OF A LOT OF EDITING AND AMENDING THAT HAPPENED. I THINK.
SO THE ONLY THING I WOULD ADD IS THAT THERE ARE SO MANY CITIES AND TOWNS IN MASSACHUSETTS THAT ALSO WANT HAVE FILED HOME RULE PETITIONS BECAUSE THEY'RE THEY'RE RUNNING
INTO THE SAME ISSUE THAT AND WE SUPPORT THEM BECAUSE WE WANT THIS TO BE A REGIONAL SOLUTION A STATEWIDE SOLUTION. SO IT'S NOT JUST BOSTON IT'S THERE'S SO MANY YOU KNOW TOWNS
CITIES THAT WANT THIS TOOL AND THAT'S WHY IT'S IT'S JUST SO CRITICAL THAT THEY THEY MAKE IT AVAILABLE TO US OF COURSE. BUT THEY RECOGNIZE THAT CITIES AND TOWNS NEED THIS. AND I THINK ONE OF THE BENEFITS JUST WHEN WE THINK ABOUT
BECAUSE WE'RE OBVIOUSLY IN A SEASON EVERY CITY IN TOWN NOT JUST BOSTON IS UNDER A LOT OF FINANCIAL PRESSURE RIGHT NOW IN MASSACHUSETTS. AND SO YOU'VE GOT A LOT OF TOWNS RIGHT THAT ARE TALKING ABOUT PROP TWO AND A HALF FOR OVERRIDES. ONE OF THE CHALLENGES OF THAT
BECAUSE IT'S BROAD BASED IS THAT ANYBODY WHO'S HAVING THE TYPE OF ISSUE THAT COMMISSIONER SHEA WAS TALKING ABOUT HAS THE SAME ISSUE. IF YOU DO AN OVERRIDE AND YOU'RE GOING UP HIGHER THAN IF THEY'RE SITTING IN A HOUSE WITH A LOT OF VALUE BUT THEY DON'T INTEND TO GO ANYWHERE, THEN
THEY'RE TRYING TO FIGURE OUT HOW TO FIND THAT ADDITIONAL PAYMENT OUT OF POCKET. THE WONDERFUL THING ABOUT A TRANSFER FEE AS A NARROWLY TAILORED POLICY APPROACH IS THAT YOU ARE ONLY TAKING THE FEE AT THE TIME OF THE
TRANSACTION, SO YOU'RE TAKING TAKING IT AT THE TIME WHEN THERE IS CASH LIQUIDITY AVAILABLE. YOU'RE NOT SAYING TO SOMEBODY OH I NEED YOU TO GET CASH OUT OF THIS HOUSE THAT RIGHT NOW YOU'RE LIVING IN LIKE AS A HOME, RIGHT?
SO I THINK IT'S ACTUALLY A A VERY WELL-DESIGNED POLICY INTERVENTION COMPARED TO THAT BROAD BASE LIKE OH JUST DO AN OVERRIDE. WELL THAT'S REALLY GOING TO HIT EVERYBODY WHO IS NOT CURRENTLY DOING A TRANSFER. YEAH I 100% AGREE I THINK IT'S
NARROWLY TAILORED. >> IT IMPACTS. 10% OF HOUSING. IT WOULD AFFECT 10% OF HOUSING TRANSACTIONS THAT PEOPLE OBVIOUSLY WANT THIS CITIES OBVIOUSLY WANT THIS AND FOR THE SECOND TIME I WOULD BE VERY
HAPPY TO BE VOTING IN SUPPORT OF THE TRANSFER FEE ONCE AGAIN I WANT TO THANK COUNCILOR SANTANA FOR HIS LEADERSHIP AND THANK THE CHAIR. THANK YOU. THANK YOU COUNCILOR LOUIJEUNE COUNCILOR BRITTON AND THEN FLYNN. . >> THANK YOU.
UM SHOUT OUT AND THANK YOU TO MY SENIOR ACTION FOR BEING HERE AND YOUR OLDER ADVOCACY. UM MY PARTICULAR QUESTION IS PROBABLY JUST FOCUSED ON I THINK OF AN ELDERLY TSUNAMI
OF HOUSING CHALLENGED UH, POPULATIONS AND A. AS AS. BABY BOOMERS AGE FROM WE'RE GOING TO HIT THE PEAK OF THAT. AND IN TERMS OF WHAT DO YOU ANTICIPATE IN TERMS
OF INCREASED DEMAND AND HOW ARE WE HOW WILL THIS POLICY REALLY HELP ADDRESS THAT IN TERMS OF MORE MORE HOUSING FOR OUR SENIORS? SURE. >> UM. SO SO TYPICALLY I, I.
DON'T LIKE THE WORD UH LIKE SILVER TSUNAMI, RIGHT. BECAUSE I, I FEEL LIKE, UH, WE SHOULD BE GETTING OLDER IS A GOOD THING.
HOWEVER HOUSING CHALLENGE TSUNAMI I THINK IS PROBABLY THE CORRECT TERM. UM. >> I THINK THAT, UM, YOU KNOW, WE WE HAVE HAD A 61% INCREASE IN OUR OLDER POPULATION IN THE
LAST 25 YEARS THAT WILL CONTINUE TO CLIMB THROUGH 2050. UM. >> SO WE ARE OUR OLDEST BABY BOOMERS ARE ONLY 80 YEARS OLD. UM. >> WHICH REALLY IS NOT THAT OLD.
UM SO UH SO I THINK UH WE WILL JUST SEE UM, THESE CHALLENGES MAGNIFIED UM, YOU KNOW, WE'RE NOT GOING TO HAVE WE'RE STILL GOING TO HAVE A HUGE NUMBER
OF OLDER PEOPLE THAT DO NOT HAVE THE RESOURCES THAT THEY NEED TO MEET THEIR BASIC NEEDS . AND AS NUMBERS AS AGE INCREASES ,AS NUMBERS INCREASE, AS PEOPLE ACTUALLY CONTINUE TO
LIVE LONGER AND NEED MORE RESOURCES TO GET THROUGH THE END OF THEIR LIFE. UM THE. >> THAT IS JUST. GOING TO COMPLICATE THINGS. SO THAT'S THE ONE ONE VERY PERTINENT REASON WHY WE NEED TO HAVE MORE HAVE THIS TRANSFER
FEE IF YOU THINK OF NOTHING ELSE YES THINK OF OUR ELDERLY POPULATION WHO ARE INCREASINGLY HOUSING CHALLENGE. SO UM SO THANK YOU I, I REALLY WILL SUPPORT THIS.
YET AGAIN AND HOPE THAT UH IT IS SUCCESSFUL THIS TIME WHEN IT GETS TO THE STATE HOUSE. BUT THANK YOU ALL FOR YOUR ADVOCACY AND ALL THE GREAT WORK. UM, MADAM CHAIR, WHO'S UM
MR CHAIR UM I WILL YIELD MY TIME BECAUSE WE'RE REALLY INTERESTED IN HEARING FROM OUR PUBLIC TESTIMONY WHEN IT COMES ALONG. AND, UM, MADAM CHAIR, IF I MAY, UH, AS YOU KNOW, I, UM I
ACTUALLY HAVE A MEETING WITH THE STATE ABOUT A LARGE, UM, DEVELOPMENT IN COUNCILOR BRADEN'S DISTRICT FANEUIL GARDENS, UM, WHERE THE STATE'S GIVING US $20 MILLION AGAIN BACK ON THIS BIG NUT AND,
UH, THEY SCHEDULED A MEETING WITH THE UNDERSECRETARY FOR 11. AND WHEN YOU'RE RECEIVING THE $20 MILLION, YOU DON'T SAY, CAN WE RESCHEDULE? SO I, UM I I AM UNFORTUNATELY HAVING TO EXIT AND I'M SORRY.
ABOUT THAT TO THE COUNCIL AND ALL THE COUNCILORS. >> SO I WOULD JUST SAY GO GO GO. THEY DO. ADMINISTRATOR UM. APOLOGIES. >>. COUNCILOR BENTON. UH, COUNCILOR FINE. >> YOU NOW HAVE BEFORE.
AND THANK YOU, MADAM CHAIR. AND MANY OF MY QUESTIONS WERE ABOUT VHA DEVELOPMENTS AND HOW WE SUPPORT OUR VHA RESIDENTS.
UM, OBVIOUSLY THE ADMINISTRATOR HAS LEFT, SO I'M GOING TO HAVE TO CHANGE MY QUESTIONING. UNFORTUNATELY. UM, I WANT TO SAY THANK YOU TO EMILY, UM, SHAY AND TO SHEILA
DILLON FOR THE IMPORTANT WORK YOU'VE DONE. WORK WITH BOTH OF YOU FOR EIGHT YEARS AND RESPECT THE WORK YOU DO. UM, AND WORKED WITH SHEILA ON
ON MANY OF THESE, UM, DEVELOPMENTS OVER THE LAST EIGHT YEARS. SHEILA, UM, LET ME ASK WHAT WHAT IS THE DO WE BELIEVE
BEFORE WE VOTE ON THIS? DO WE DO WE CONSIDER THE REASONS WHY IT WASN'T APPROVED AT THE STATE HOUSE BEFORE AND DO WE TEAR THE ARGUMENTS IN ANY
ANY WAY THAT IS DIFFERENT BECAUSE IT WASN'T UM, APPROVED? AND DO WE LEARN ANYTHING FROM PREVIOUS HOME RULE PETITIONS THAT WE'RE INCLUDING NOW IN
THIS DISCUSSION? I THINK THAT'S A IT'S A VERY FAIR QUESTION. I THINK THE LARGEST CHANGE THAT WE'VE MADE IS THE EXEMPTION OF THE FIRST $2 MILLION
OF VALUE BECAUSE WE DID HEAR THAT, YOU KNOW, UH, A HOMEOWNER OR UH A SMALL LANDLORD MIGHT HAVE ONE 1 OR 2 ASSETS AND IT WAS IMPORTANT FOR THEM TO BE
ABLE TO SELL AND REALIZE THOSE PROFITS. SO BY EXEMPTING NOW UH, THE FIRST 2 MILLION I THINK THAT REALLY WAS A VERY RESPONSIBLE UM RESPONSE TO THAT. I THINK WHAT I WOULD ADD AS
WELL IS THAT IT WAS VERY POPULAR AT THE STATE HOUSE LAST TIME AND IT CAME DOWN TO JUST A FEW INDIVIDUALS AT THE VERY END THAT HAD SOME ISSUES WITH IT. BUT OVERALL IT WAS VERY, VERY
POPULAR AND PEOPLE FELT VERY GOOD THAT IT WAS A REASONABLE, RATIONAL, ALMOST CONSERVATIVE RESPONSE BUT THAT WOULD HAVE YIELDED A BIG RESULT. SO I THINK WE JUST NEED TO BE WORKING WITH EVERYONE UP THERE
AND ANSWER THEIR QUESTIONS. UM LASTLY I WOULD SAY THAT AND I THINK THIS IS THE THEME TODAY TIMES HAVE CHANGED AND UH, IF WE'RE GOING TO CONTINUE TO BE
BOSTON AND BUILD A LOT OF INCOME RESTRICTED HOUSING ESPECIALLY FOR OUR FAMILIES AND OUR OLDER ADULTS, THEN WE HAVE TO PASS THIS. I MEAN IT'S CRITICAL THERE'S NO OTHER RESOURCE.
SO UM I THINK THAT I THINK THE CONDITIONS HAVE CHANGED BUT I THINK WE HAVE BEEN LISTENING AND WE HAVE MADE MODIFICATIONS . THANK YOU CHAIR HAVE I ALSO WANT TO RECOGNIZE THE SENIORS
THAT ARE HERE AND THE RESIDENTS MANY FROM THE SOUTH AND IN CHINATOWN UH, CHINESE PROGRESSIVE ASSOCIATION AND THE CHINATOWN RESIDENTS ASSOCIATION.
I WANT TO WELCOME THEM AS WELL. UM, LET ME LET ME ASK ANOTHER QUICK QUESTION. UH, SHEILA ON ON THAT ON THAT THEME.
DOES THIS IMPACT DOES THIS HOME RULE PETITION WOULD IT EVENTUALLY IMPACT OTHER CITIES AND TOWNS IN MASSACHUSETTS? IS IT FOCUSED ON BOSTON AND.
GIVE US A LITTLE BIT OF BACKGROUND INFORMATION ON THAT PLEASE? >> YEAH. SO THIS HOME RULE. PETITION WOULD ONLY IMPACT UH, TRANSFERS OR SALES IN BOSTON. UM, AS I MENTIONED EARLIER,
THERE ARE MANY CITIES AND TOWNS IN MASSACHUSETTS THAT HAVE ALSO ALREADY FILED THEIR OWN VERSIONS OF OF TRANSFER FEE, BUT THIS WOULD IMPACT BOSTON ONLY. ARE THERE OTHER ARE HOME RULE
PETITIONS UP AT THE STATE HOUSE THAT THAT ARE AWAITING DEBATE OR AWAITING APPROVAL. DOZENS AND I CAN GET YOU THE LIST. I DON'T HAVE IT IN FRONT OF ME, BUT I CAN GET YOU THE LIST OF ALL THE CITIES AND TOWNS THAT HAVE FILED. OKAY.
>> THE SHEILA UM. ONE ONE QUESTION I HAVE THIS IS SO YOU OWN A HOME FOR $1 MILLION AND AND MANY WORKING CLASS FAMILIES HAVE A HOME FOR
$1 MILLION. IT'S NOT UM IT'S NOT OUT OF OUT OF THE POSSIBILITY. UM, DOWNTOWN BOSTON OR OR THE SOUTH END OF OR SOUTH BOSTON OR ANY NEIGHBORHOODS EVENTUALLY
IT'S GOING TO BE A $2 MILLION HOME MAYBE IN 15 YEARS FROM NOW . BUT DOES THAT MEAN IF YOU SELL THAT HOME OR GIVE IT TO YOUR FAMILY, A FAMILY MEMBER, ARE
YOU ALSO SUBJECTED TO THAT TRANSFER FEE? SO UM, RIGHT NOW IN THE ORDINANCE, UH TRANSFERS BETWEEN FAMILY MEMBERS ARE EXEMPT UM OR
TRANSFERS OF CONVENIENCE SOUNDS LIKE A LEGAL TERM. THEY'RE EXEMPT AND WE CAN DO MORE EXEMPTIONS. WE WE HAVE THE AUTHORITY IN THE ORDINANCE TO DO MORE MORE EXEMPTIONS. SO WE WOULD BE WORKING CLOSELY WITH YOU ON THAT IN THE
SCENARIO THAT YOU PUT FORTH, IF I UNDERSTAND IT CORRECTLY BECAUSE YOU'RE SELLING IT FOR $2 MILLION YOU WOULD DO IT IT WOULD NOT TRIGGER IT WOULD NOT TRIGGER ANY FEE.
ANYTHING OVER 2 MILLION RIGHT. >> AND IT GOES IF YOU SELL IT FOR LIKE 2 MILLION YOU WOULD. OKAY BECAUSE YOU'RE EXEMPTING THE FIRST $2 MILLION. YEAH. >> SO IF YOU SOLD IT FOR 2.5 MILLION YOU'D BE.
500,000 FEE WOULD BE APPLIED TO THE $500,000 ONLY. AND HOW MUCH WOULD HOW MUCH WOULD YOU UH, BE TAXED ON ON THAT IF IT WAS 10.5. >> TO $10,000 OKAY.
AND THAT MONEY WOULD GO BACK INTO THE CITY OF BOSTON GENERAL FUND. LET IT GO. >> WE GO TO THE THE WAY THAT IT'S DRAFTED NOW WE GO TO THE NEIGHBORHOOD HOUSING. TRUST OF WHICH THE CITY COUNCIL HAS YOU KNOW, A SEAT ON
AND UM THEY WOULD DISPERSE THEY WOULD DISPERSE THE FUNDS. WELL, UM, MADAM CHAIR, I'M ALMOST OUT OF TIME. I WANT TO SAY THANK YOU TO SHEILA. WANTED TO SAY THANK YOU TO EMILY.
WANT TO JUST ACKNOWLEDGE COUNCIL COUNCILOR FORMER COUNCILOR BOK FOR ACKNOWLEDGING THE INCREDIBLE ROLE THE ADMINISTRATION PLAYED IN LANGUAGE. UM, THANK YOU FOR YOUR TIME.
THANK YOU, COUNCILOR FLYNN. UH. >> COUNCILOR CULPEPER. THANK YOU, COUNCILOR ZAPATA. UH, SHEILA, YOU KNOW, WHEN I HEARD YOU MENTIONED THAT TIMES HAVE CHANGED, I WANT TO TALK
ABOUT A LITTLE BIT ABOUT THE 2028 11 PROGRAM AND REMEMBER HOW SIGNIFICANT THE 2028 11 PROGRAM WAS. WHAT WAS THE IMPACT OF THE 2028
11 PROGRAM? AND LET'S JUST FORGET ABOUT THE 811 PIECE. LET'S JUST LOOK AT TOOL TWO THE IMPACT THAT THAT HAD ON SENIOR HOUSING AND WHAT'S LEFT OF IT
IF ANY. SO I. I LOVED THE 2 OR 2 PROGRAM UM IT WAS A WONDERFUL FOR FOLKS THAT ARE WATCHING THAT DON'T KNOW UM WHAT IT WAS IT WAS A IT
WAS A FEDERALLY FUNDED PROGRAM AND IT WAS RIGOROUS. IT WAS HARD TO GET BUT WE WERE SUCCESSFUL BECAUSE WE WORK WITH A LOT OF GOOD NONPROFITS AND THE FUND WOULD. UH HUD WOULD PROVIDE TWO THINGS
THEY WOULD PROVIDE THE CAPITAL TO BUILD THE THE DEVELOPMENT AND THEY WOULD ALSO PROVIDE THE OPERATING SUBSIDIES TO REALLY REACH OUR OUR, YOU KNOW, LOWEST
INCOME SENIORS. SO IT WAS JUST IT WAS LIKE GOLD AND EVERY YEAR BOSTON WOULD APPLY AND I WASN'T IN THIS ROLE BUT I WAS IN A DIFFERENT ROLE AND WE WOULD GET ONE IF WE WERE LUCKY.
TWO DEVELOPMENTS NOW IT DOESN'T SOUND LIKE A LOT BUT IF YOU GET 1 OR 2 EVERY SINGLE YEAR THAT IS VERY THOSE ARE TRANSLATES INTO THOUSANDS OF UNITS OVER TIME FOR OUR OLDER ADULTS AND
WE HAVE AND I DIDN'T BRING IT WITH ME BUT I CAN CERTAINLY GET IT FOR FOR YOU WE HAVE YOU KNOW ,THOUSANDS OF 2 OR 2 UNITS HERE AND THEN WE WOULD DO OUR OWN THING RIGHT? WE WOULD FUND OUR OWN PROJECTS BUT WE'D HAD THAT STEADY
FEDERAL SOURCE AND. I'LL GO TO MY GRAVE NOT UNDERSTANDING WHY THE FEDERAL GOVERNMENT STOPPED THE PROGRAM. SO I MEAN BUT ISN'T THERE A PIECE OF THE TOOL TO PROGRAM
THAT. THERE IS THERE IS BUT IT'S MUCH IT'S MUCH REDUCED TO. >> UH AND SO DO WE GET ANY OF THAT MONEY FROM THE TOOL TO THE. IT'S IT'S VERY HARD TO GET THE
THE POT IS MUCH. MUCH MUCH. >> SMALLER THERE'S THERE'S ONE I THINK WE GOT ONE IT'S A IT'S A VERY SMALL AMOUNT OF MONEY AND UM IS IT JUST FOR.
IT'S JUST FOR OPERATING JUST. >> FOR OPERATING IT'S JUST FOR OPERATING IT'S VERY HARD TO GET CAPITAL. YEAH IT'S OUR CAPITAL BUT IT'S IT'S IT'S IT'S UM AND WE CAN GET YOU THIS INFORMATION IS MUCH MUCH SMALLER AS A GENERAL
AS A LINE ITEM THAN IT EVER THAN IT EVER WAS. AND OUR LAST BUILDING WAS 2012. THAT OUR LAST. BIKE OF ABOUT ONE PARK WITH THE
HOWARD JOHNSON'S USED TO BE. OH THAT WAS A FULL 2 OR. >> 2 THAT. >> WAS A. THAT WAS A FULL 2 OR 2. >> YEAH YEAH YEAH. YEAH AND THAT WAS THE YOU KNOW I WATCHED HIM DEVELOP THAT FROM HOWARD JOHNSON'S TO THE NOW AND
IT'S A BEAUTIFUL BEAUTIFUL COMMUNITY. LET ME JUST ASK YOU SOMETHING ABOUT THE TRANSFER FEE. IS THERE SOME WAY TO CONVINCE
THE LEGISLATURE THAT WITH THIS TRANSFER FEE IN A SENSE IT WOULD BE REPLACING WHAT WAS ENDED BY CONGRESS WITH THE 202
? IT'S CERTAINLY MAKE THAT MAKE THE CASE UM, THAT WE DON'T WE DON'T HAVE A SOURCE RIGHT NOW THAT'S DEDICATED UH FOR FOR
SENIOR HOUSING ALTHOUGH BY HOOK OR BY CROOK WE HAVE BEEN BUILDING A LOT OF NEW SENIOR HOUSING BUT IT'S UH YOU KNOW, IT'S CERTAINLY NOT ENOUGH AND IT'S TAKING RESOURCES AWAY FROM FROM OTHER NEEDS. SO I THINK WHAT I'M HEARING
TODAY AND I FEEL IT TOO I THINK A LOT OF THIS NEW RESOURCE WOULD BE CERTAINLY DEDICATED FOR FOR HOUSING FOR OUR OLDER ADULTS. AND WHAT ABOUT FOR THE OPERATING COSTS BECAUSE WE KNOW
TO TO GET THE OPERATING MONEY FOR THE ASSISTED LIVING. THAT'S WHERE THE ASSISTED LIVING PIECE CAME IN. WOULD THIS TRANSFER FEE ALSO GO TO THE ASSISTED LIVING PIECE?
WE'D HAVE TO YEAH WE WE'D. HAVE TO. >> TALK ABOUT THAT BECAUSE YOU KNOW UM RIGHT NOW WE'VE BEEN AT LEAST GETTING ON OUR OR OUR BUILDINGS WITH THE FOR OLDER ADULTS WE'VE BEEN USING PROJECT
BASED SECTION EIGHT OR THE MVP'S FROM THE STATE. UM I'M ALWAYS A LITTLE BIT WORRIED ABOUT UH, THIS IS A PRETTY CONSISTENT THIS WOULD BE A PRETTY CONSISTENT SOURCE OF FUNDING. BUT WHAT IF THERE WERE NO SALES
AND YOU KNOW, I THINK WE'D HAVE TO THINK THROUGH WHETHER OR NOT THERE'S ANY RISK OF USING IT FOR OPERATING. BUT THAT WOULD BE A NICE PROBLEM TO HAVE. AND WITH REGARD TO THE PROJECT BASE SECTION EIGHT EVEN THOUGH
THEY ARE SENIOR IN A SENSE THERE'S NOT A OPERATING PIECE THAT GOES WITH THAT SECTION EIGHT THOSE SENIORS ARE STILL
MAKING DO ON THEIR OWN WITHOUT THE ADDITIONAL FUNDING FOR AN ASSISTED LIVING DEVELOPMENT. THAT THAT IS TRUE. I'M GOING TO HAND THIS OVER TO EMILY. I WILL SAY THOUGH THAT UM
BECAUSE THE HOUSING AUTHORITY IS USING SMALL AREA FARMERS, THEY OFTENTIMES ARE THROWING OFF. SOME MONEY. SOME MONEY FOR SENIORS. BUT UH, THE VERY TALENTED
NONPROFITS HAVE BEEN USING PACE AND VARIOUS OTHER OTHER OUTSIDE UH, RESOURCES. BUT EMILY, I DON'T KNOW IF YOU WANT TO ADD. UH UM, I I THINK THAT YOU'RE
TALKING ABOUT RESIDENT SERVICE COORDINATOR BUILDINGS AND THAT TYPE OF RESIDENT SERVICE COORDINATION I THINK IS CRITICAL TO MAKING A GOOD BUILDING. RIGHT? UH, ONE WHERE RESIDENTS CAN
LIVE AND HAVE SOME SUPPORT AND AND, UM, AGE WITHIN THE BUILDING. UM, IT IS UH IT IS CERTAINLY CHALLENGING UNLESS YOU HAVE THE RIGHT FUNDING. MODEL FOR THAT. I WILL SAY ADD ONE THING THOUGH
WHAT IF WE ARE FUNDING A BUILDING FOR OLDER ADULTS OR ANY KIND OF SPECIAL POPULATION THAT NEEDS SERVICES? WE ARE REQUIRING VERY DETAILED SERVICE PLANS BEFORE WE FUND.
WE REALLY WANT TO MAKE SURE THAT THE DEVELOPER HAS THOUGHT THINGS THROUGH AND AND THE THE THE PLANS THAT WE TYPICALLY GET ARE VERY SATISFACTORY. WELL SHEILA THANK YOU.
MY TIME IS UP AND UH I'D LIKE TO CONTINUE THIS DISCUSSION. UM, GOOD MORNING TO SEE THE MATH SENIOR ACTION COUNCIL GOOD TO SEE YOU ALL HERE THIS MORNING AND THE UH, ASIAN
COMMUNITY DEVELOPMENT CORPORATION ALONG WITH THE EAST BOSTON COMMUNITY DEVELOPMENT CORPORATION. I'VE GOT TO RUN TO THAT EMT GRADUATION. BUT IT'S JUST GOOD TO SEE YOU AND, UH.
OKAY. I THINK IT'S IMPORTANT THAT WE CONTINUE THAT DISCUSSION, ESPECIALLY WITH REGARD TO THAT TOOL MONEY THAT DISAPPEARED AND HOPEFULLY WE CAN GET THIS
TRANSFER FEE PASS. JUST ONE REAL QUESTION. UH, LET'S SAY IT GETS TO THE HOUSE. IS THERE MUCH DISCUSSION GOING ON WITH THE SENATE ABOUT THIS TRANSFER FEE POSITION
PROVISION. IT UH UM YOU KNOW I'M LOOKING AT I DR.. BUT I TO THE BEST OF MY KNOWLEDGE WE REALLY WANT TO PASS IS AS ADMINISTRATOR BORK SAID GET THIS UP AND START
THOSE DIALOGS ARE THERE THERE'S A LOT THERE YOU KNOW, THAT THEY'RE UM INVOLVED WITH RIGHT NOW. SO I THINK WE NEED TO MOVE THIS SO WE HAVE THE TIME TO HAVE THE DISCUSSION WITH BOTH THE HOUSE AND THE SENATE. GREAT. >> THANK YOU. THANK YOU SO MUCH, COUNSELOR
CULPEPER. UH. WE'RE GOING TO COUNSELOR WEBER AND THEN COUNSELOR FITZGERALD AND THEN WE'RE GOING TO GO TO PUBLIC TESTIMONY BECAUSE I KNOW SOME FOLKS UM, DO HAVE TO GO UH, COUNCIL WEBER, YOU HAVE THE FLOOR. OKAY. >> THANK YOU VERY MUCH. UH, IT'S GREAT TO. >> SEE EVERYBODY INCLUDING UH,
I KNOW, UH, COUNCILOR FLYNN'S CONSTITUENTS WHO I GOT TO MEET WITH, UH, IN CHINATOWN, UH, THIS WEEK UH. >> A. FEW NIGHTS AGO. UM, SO, UH.
I HAVE TO LEAVE HERE FOR A FORUM AT BC ON HOUSING FOR STUDENTS. UH, AND, UM, YOU KNOW, WE'VE WE'VE TALKED ABOUT IT THERE'S, YOU KNOW, UH, 5000 HOMELESS UH,
STUDENT STUDENTS AND EXPERIENCING HOMELESSNESS EVERY YEAR. SO CAN YOU IS THERE WOULD THERE BE AN IMPACT OR YOU KNOW, ON WHERE WOULD YOU BE ABLE TO UH,
ADDRESS THAT ISSUE WITH THE UH WITH THE MONEY WE GET FROM THE TRANSFER FEE? ABSOLUTELY. >> SO YOU KNOW, THE ONE OF THE I MEAN, THE MAIN REASON PEOPLE ARE. HOMELESS IS BECAUSE THEY CAN'T AFFORD THEIR HOUSING. UH, THE MAIN REASON AND YOU
KNOW, IN EVERY DEVELOPMENT THAT WE FUND THERE'S IS SET ASIDE FOR HOMELESS FAMILIES OR HOMELESS SENIORS AND AND SO IT'S 10% SO EVEN IF WE'RE NOT BUILDING HOUSING THAT'S DEDICATED TO HOMELESS.
POPULATIONS WHICH SOMETIMES. >> WE DO WE ARE WE HAVE OVER 5000 UNITS DEDICATED FOR FOR HOMELESS FAMILIES AND SENIORS. SO THE MORE AFFORDABLE HOUSING WE. BUILD. ,THE MORE PEOPLE. WILL HAVE. >> OPPORTUNITY TO LIVE IN
SOMETHING THAT THEY CAN AFFORD. WHAT BEYOND THAT YOU KNOW, DO WE HELP THEM? DO WE SPEND SOME OF THIS MONEY ON PROGRAMS OR UH, YOU KNOW, ACCESS TO COUNCIL OR OTHER THINGS THAT WE WOULD HAVE TO
DEBATE? UH. >> AND THE ORDINANCE GIVES ALLOWS US TO DO THAT. OKAY. >> UM AND THEN YOU KNOW SOMETHING ABOUT THIS WHERE I YOU KNOW, UH, I THINK AT THE STATE HOUSE THERE HAVE BEEN
PROPOSALS TO, YOU KNOW, HAVE TAX RELIEF BUT WITHOUT REVENUE SOURCES COMING FROM OTHER PLACES I, I DO LIKE THE THIS YOU KNOW HOW THIS IS PRESENTED
IN THAT WE CAN PROVIDE TAX RELIEF BUT WE'RE NOT GOING TO HAVE TO CUT OTHER NEEDED PROGRAMS TO GIVE THAT TAX RELIEF. THERE IS A TRANSFER FEE BUILT. CAN YOU JUST TALK A LITTLE BIT
ABOUT THAT THAT BALANCING ACT. SURE. >> UH I MEAN I I THINK THE ABILITY TO RAISE REVENUE AND PROVIDE TARGETED RELIEF NEED TO GO IN TANDEM. I MEAN I WE'RE ABOUT TO ENTER A
BUDGET CYCLE AND I DON'T THINK ANYONE IS HAPPY WITH BUDGETS. UM. >> AND SO WHEN THERE'S NOT ENOUGH MONEY TO. COVER UM. YOU KNOW, WHEN THAT MONEY ISN'T
THERE OR YOU'RE TAKING IN LESS REVENUE, YOU'RE GOING TO HAVE TO CUT ON THE OTHER SIDE AND YOU'RE GOING TO BE CUTTING SOME THINGS THAT. PEOPLE UM THAT ARE REALLY. IMPORTANT TO PEOPLE. I DON'T THINK WE'RE WE'RE AT A
POINT WHERE THERE'S LIKE EXCESS STUFF THAT WE'RE DOING. THAT UM IS EASY TO CUT. EVERYTHING THAT'S BEING CUT ARE. >> THINGS. THAT ARE REALLY IMPORTANT.
SO UM OKAY AND THEN UH. I GUESS I I THINK EACH YEAR WE LOOK AT UM LIKE THE FAIR SHARE AMENDMENT AND THE REVENUE SEEMS TO BE ABOVE WHAT THEY'VE
ANTICIPATED LIKE IS I MEAN WE YOU GAVE US YOUR SORT OF LIKE WHAT WE WOULD HAVE SEEN THE LAST FOUR YEARS IF WE HAD THIS UM, YOU KNOW, LIKE I DON'T KNOW
IF IF OUR EXPERIENCE WITH THAT HAS IS INFORMED LIKE DO YOU DO WE THINK THAT THERE WILL BE ADDITIONAL FUNDS OR I GUESS I'M ASKING YOU KNOW, HOW DO YOU RESPOND TO MAYBE AN ARGUMENT
THAT PEOPLE AREN'T GOING TO BE SELLING BECAUSE OF THE THE TRANSFER FEE AND UM, YOU KNOW, UNINTENDED CONSEQUENCES? SURE. >> I UM I. THINK THAT'S A FAIR QUESTION.
I CAN'T IMAGINE UM, AN OWNER FORGOING VERY, VERY, VERY LARGE PROFITS MILLIONS AND MILLIONS AND MILLIONS OF DOLLARS IN SOME CASES TENS OF MILLIONS. >> OF. DOLLARS, HUNDREDS. >> OF MILLIONS OF. DOLLARS IN SOME CASES FOR
RELATIVELY SMALL FEE. UM, IF PEOPLE NEED TO SELL OR WANT TO SELL THEY SELL. UM SO. I DON'T I CAN'T IMAGINE A 2% FEE BEING ESPECIALLY IF WE'RE EXEMPTING THE FIRST 2 MILLION
BEING A DETERRENT. UM, I JUST I I CAN'T IMAGINE MAYBE I MAYBE THERE'S SOMETHING I'M MISSING THERE BUT IT DOESN'T SEEM LOGICAL. >> TO ME. UM, OKAY. UH, SO I THINK THAT'S ALL THE QUESTIONS I HAD.
THANK YOU VERY MUCH. I APOLOGIZE TO THE SECOND PANEL AND ALL THE AMAZING ADVOCATES WHO ARE HERE RECOGNIZE, UH, A LOT OF YOU. UH, BUT I HAVE TO GO TO THIS, UH, HOUSING FORUM IT HAS IN
COUNSELOR PRESENT DISTRICT. UH, BUT, UH, SO THANK YOU VERY MUCH. THANK YOU. UH, COUNCILOR FITZGERALD. THANK YOU, MADAM CHAIR. UM. SO I'M. STILL LIKE. >> ON THE FENCE.
OF OF THIS, UH, TRANSFER FREE IF HE OF UM NOT ONLY LIKE SHOULD WE HAVE ONE BUT ALSO I GUESS THE DETAILS THAT ARE IN THIS SPECIFIC PROPOSAL OF WHAT IT IS BECAUSE I THINK ABOUT, YOU KNOW, A COUPLE OF QUESTIONS
I HAVE THAT JUST WHEN I FIRST FIRST BLUSH AT IT IS LIKE THE EXEMPTION OF 2 MILLION AND IN THE FUTURE I THINK COUNCILOR FLYNN SORT OF UH ALLUDED TO THIS IS THAT THE FUTURE VALUES FOR MIDDLE CLASS
FAMILIES OF IS THAT GOING TO BE THE AVERAGE COST OF A MIDDLE CLASS HOME IN THE FUTURE OF YOU KNOW, 2,000,002 PLUS THREE ETC. ? UM, I'M THINKING IF I CAN STICK AROUND AND GIVE MY HOUSE OR
BUILD EQUITY IN MY HOUSE TO TO GIVE TO MY KIDS, YOU KNOW HOW MUCH OF A CHUNK OF AT THAT AGE WILL I SAY WAIT? I WORKED MY WHOLE LIFE TO TO BUILD UP THIS AND PUT IT IN AND
UM UH AND THEN TO TAKE YOU KNOW, WHATEVER TEN 2030 I MEAN IT'S STILL THAT'S STILL A SIZABLE AMOUNT OF MONEY UM, SAYING THESE ARE JUST LIKE YEAH. IF I COULD JUST INTERJECT SOMETHING THE ORDINANCE DOES
ALLOW FOR A REVALUATION OF THE EXEMPTION EVERY FIVE YEARS AND IT LOOKS AT THE PERCENTAGE CHANGE IN THE REAL ESTATE MARKET. SO IT DOES KEEP PACE. SO OKAY 30 YEARS FROM NOW AND
YOUR HOUSE IS WORTH 150 MILLION I LIKE IT. >> ONCE YOU'VE SEEN MY HOUSE RIGHT OKAY YOU. KNOW IT WOULD IT WOULD. IT WOULD KEEP PACE. SO THE EXEMPTION FOR THE AVERAGE PERSON WOULD WOULD WOULD WOULD BE THE CORRECT ONE.
OKAY. NO THAT'S THAT'S GREAT NEWS I APPRECIATE THAT EDUCATION. UM ARE THERE SOME MORE QUALIFIERS. AROUND THE EXEMPTIONS THAT WE COULD ADD? I KNOW LIKE I'M THINKING OF TAKING CARE OF OUR OWN
TAKING CARE OF THOSE THAT LIVE IN BOSTON, BORN AND RAISED IN BOSTON ARE STICKING PUT THEIR ROOTS DOWN AND SAID I'M MAKING THIS MY HOME. IF THEY QUALIFY FOR RESIDENTIAL EXEMPTION, CAN THEY BE EXEMPT
FROM A TRANSFER FEE OR HAVE A GREATER EXEMPTION ON THE TRANSFER FEE OR HIGHER? YEAH I THINK. WELL I KNOW THE ORDINANCE DOES ALLOW FOR US ALL TO IF IT
PASSED FOR ALL OF US TO TO ADD EXEMPTIONS REASONABLE EXEMPTIONS. SO THOSE CONVERSATIONS COULD CERTAINLY TAKE PLACE IN AND SPEAKING FOR MYSELF I WOULD LOVE TO HAVE THEM BECAUSE WE
DON'T WANT TO HARM THE AVERAGE PERSON DOING THE RIGHT THING PROVIDING FOR THEIR FAMILY. WE JUST WANT TO CAPTURE SOMETHING FROM THOSE THAT HAVE LIKE A LOT TO SHARE. SO YOU KNOW I THINK WE ARE
REALLY TRULY ALL EARS AND I LOVE THE LANGUAGE. IT REALLY ALLOWS US TO HAVE THOSE DEBATES AND DISCUSSIONS. UM THANK YOU. UM I CAN APPRECIATE AND UNDERSTAND THE NEED TO FIND
MORE FUNDING FOR HOUSING RIGHT? WE KNOW THAT EVERYTHING ELSE IS ALL THE SPIGOTS ARE OFF AND WE'RE TRYING TO GRAB IT WHATEVER WE CAN I JUST HAVE I'M SLIGHTLY WEARY OF DOING SO AT
THE POTENTIAL YOU KNOW, YOUR AVERAGE RESIDENT OF BOSTON THAT THEY'RE THE ONES THAT ARE GOING TO BE SADDLED WITH YET MAYBE THEY'LL DO IT. I'M JUST I THINK OF PEOPLE SAYING ANOTHER TAX THIS IS WHAT YOU GUYS AND AFTER ALL THESE
YEARS ALL THE WORK I'VE PUT IN AND YOU KNOW, THE WORK I PUT INTO THIS HOUSE AND I'VE WORKED FOR THE CITY AND I KNOW IT NOW AND THEN YOU JUST GOING TO TAKE MORE AND I JUST I HOPE IT'S NOT VIEWED AS SUCH BUT YOU KNOW PEOPLE WILL FEEL THAT WAY ULTIMATELY. SURE. >> THAT'S WHY I THINK.
EDUCATION IS GOING TO BE VERY VERY IMPORTANT ESPECIALLY AS IT'S ADVANCES. RIGHT. YOU KNOW MY HOUSE PERSONALLY I MEAN I IT I IT'S NOT WORTH $2 MILLION RIGHT SO I WILL I KNOW .
BUT IF IT IF THIS. EVERY FIVE YEARS WE WILL INCREASE THE EXEMPTION YOU KNOW I I YOU KNOW WOULDN'T PAY IN. ALTHOUGH I. >> WOULD GLADLY BUT I WON'T BE REQUIRED TO SO I THINK IT THE
THE SAFEGUARDS FOR THE AVERAGE PERSON OR THE AVERAGE HOMEOWNER ARE VERY MUCH BUILT. >> IN HERE. GREAT I APPRECIATE THAT YOU KNOW THANK YOU. UM DOES THIS. IN FROM A TIMING PERSPECTIVE
GIVEN THAT BOSTON FROM AN INVESTMENT LEVEL STANDPOINT COULD YOU KNOW NATIONWIDE WE'RE SORT OF AT THE BOTTOM OF THE LIST I HEAR IS THAT PEOPLE YOU KNOW, THERE'S A LOT OF DIFFERENT THINGS GOING FORWARD WHERE PEOPLE ARE
SAYING, YOU KNOW, BETWEEN COST AND POLICIES AND THIS AND THAT . UM. IS THIS SOMETHING THAT WE THINK LIKE AT THIS. MOMENT IS THIS SORT OF JUST KIND OF ADD TO THAT OF LIKE JUST ANOTHER REASON LIKE WE'LL KEEP YOU MONEY OUT OF BOSTON.
UM, AND YOU KNOW, JUST THINKING ABOUT DEVELOPMENT AND SPARING ALL THAT STUFF CREATING JOBS, CREATING GROWING THE TAX BASE ETC. UM, DOES THIS HELP THAT STORY OR UM YEAH. I GUESS IT DEPENDS. ON WHO YOU SPEAK, YOU KNOW. YEAH.
NO. RIGHT RIGHT. THESE ARE THE THINGS. I'M THINKING. >> YEAH NO I, I I UNDERSTAND AND I. APPRECIATE THAT ARGUMENT. I GUESS I WOULD SAY IF YOU'RE REALLY LOOKING AT THIS MOMENT IN TIME AND THIS IS SHEILA
DILLON SPEAKING, WE HAVE NEVER NEEDED ADDITIONAL RESOURCES MORE AND I FORGET WHO SAID IT. WE CAN'T EVEN COUNT ON THE FEDERAL. GOVERNMENT ANYMORE. IT'S IT'S JUST AND WE ARE REALLY DEBATING WHETHER WE HAVE
TO START SAYING NO TO OUR PIPELINE AND THIS IS HOUSING FOR SENIORS. FAMILIES HOMEOWNERSHIP DEVELOPMENTS. RIGHT. ALL SUCH GOOD. STUFF AND WE'RE STARTING TO SAY NO, WE'RE GOING TO HAVE TO SAY NO SOON.
AND SO. UM IF. DEVELOPER OR A VERY YOU KNOW, WEALTHIER DEVELOPERS ARE A LITTLE DISCOURAGE I WOULD LIKE TO WORK WITH THEM AND HEAR FROM THEM. BUT I GUESS I'M MORE CONCERNED
ABOUT REALLY TURNING OFF THE SPIGOT TO LIKE JUST WONDERFUL DEVELOPMENT THAT'S GOING TO HOUSE OUR RESIDENTS. YEAH, I MEAN I'M ALL FOR THE. SPECULATIVE DEVELOPERS AND THE FOLKS THAT ARE, YOU KNOW, LIVE OUTSIDE THE CITY AND OWN
MULTIPLE UNITS AND WHEN THEY DECIDE TO SELL OFF AND THINGS LIKE, YOU KNOW, ALL OF MISSION HILL AND ALL OF THE YOU KNOW, A LOT OF ALLSTON BRIGHTON A LOT OF THESE RENTAL NEIGHBORHOODS LIKE ABSOLUTELY LIKE PAY UP RIGHT? THEY'VE BEEN THEY'VE BEEN DOING
JUST FINE OFF OUR BACKS FOR A LONG TIME. SO I COMPLETELY AGREE WITH THAT. JUST TRYING TO THINK OF MORE PROTECTIONS AROUND THE RESIDENTS OF THE CITY OF BOSTON OF COURSE. YEAH OF COURSE. BUT UM, THANK YOU VERY MUCH FOR THE ANSWERS.
THEY WERE VERY HELPFUL TO HELP ME UNDERSTAND A LOT MORE AND UM I SEE BACK MY LAST 15 SECONDS. THANK YOU CHAIR. THANK YOU. >> COUNCILOR. UH, FITZGERALD, I JUST HAVE ONE QUESTION. UM, YOU HAD MENTIONED, UH, THIS COULD HAVE GENERATED $180
MILLION FOR AFFORDABLE HOUSING PROGRAMS. WHAT DOES THAT ROUGHLY TRANSLATE TO IN TERMS OF UNITS ? SO, UM, YOU KNOW, IT ALL. DEPENDS LIKE. >> HOMEOWNERSHIP BECAUSE THERE'S ONLY. THERE'S FEWER SOURCES. WE YOU KNOW, WE TYPICALLY PUT
IN. UM OVER. $100,000 A UNIT A. RENTAL WOULD BE LESS THAN. SO WE COULD JUST SORT OF DO DO THE MATH. I MEAN I WE COULD. I'M LOOKING AT.
CHRIS UM. BUT WE COULD DO WE COULD GET THAT TO YOU LIKE. AN AVERAGE IF WE LOOK AT WHAT WE'RE PUTTING INTO PROJECTS BOTH HOMEOWNERSHIP OR OR RENTAL WHAT OUR AVERAGES OVER THE LAST
SAME TIME PERIOD FOUR YEARS AND WE COULD GET TO THAT NUMBER. OKAY. >> AND JUST. YEAH A. LOT UH YEAH. A LOT. >> A LOT BUT WE'LL GET TO THE EXACT NUMBER WHAT WE BASED LOOK AT THE AVERAGES. IT WOULD TAKE US, YOU KNOW, AN HOUR TO COMPUTE. I WOULD LOVE TO GET ACCURATE
BUT JUST YET BASED ON MY IPHONE CALCULATOR. IT'S $100,000 FOR HOMEOWNERSHIP. YOU SAID RIGHT FOR. LITTLE A LITTLE. OVER 100 FOR HOMEOWNERSHIP. SO SAY. 125 YEAH 150 AND.
THEN RENTAL WOULD BE LESS THAN. ABOUT ABOUT 100. CHRIS OR A LITTLE LESS THAN. >> ABOUT 100. SO YEAH OKAY THAT'S A 1800. >> RIGHT THERE. YEAH SO I THINK THAT'S A HUGE NUMBER. >> IS A VERY VERY BIG NUMBER. AND YOU THINK ABOUT ONCE IS PAST EVERY SINGLE YEAR.
IT'S JUST. MAKES SUCH A DIFFERENCE. VITAL VITAL RESOURCE. THANK YOU SO MUCH FOR BEING HERE. WE'RE GOING TO TRANSITION TO PUBLIC TESTIMONY. UH YES I.
>> THINK I JUST WANTED TO ASK ONE QUESTION DO WE HAVE IT YET SET UP WHETHER OR NOT THIS IS GOING TO FUNNEL THROUGH THE NEIGHBORHOOD HOUSING. TRUST OR LIKE HOW THAT WOULD WORK. IN THE ORDINANCE? IT DOES GO TO THE NEIGHBORHOOD
HOUSING. TRUST UM. WHICH FOR FOR FOLKS THAT DON'T FOLLOW. >> THIS. MAYBE AS CLOSELY YOU ALL DO BECAUSE YOU'VE HAD MEMBERS THAT ARE YOU'VE HAD MEMBERS THAT ARE MEMBERS. IT'S A REALLY.
WELL-RUN AND THERE'S COMMUNITY MEMBERS ON THERE. THERE'S IT'S I GOT A DISCIPLINE. OH I THINK IT'S GREAT. YEAH IT'S. >> REALLY A IT'S A GOOD SAFE PLACE TO PUT. THE MONEY. >> DO YOU KNOW HOW MUCH MONEY IS IN THE NEIGHBORHOOD HOUSING TRUST RIGHT NOW. >> CHRIS YOU. KNOW PEOPLE I DON'T HAVE TIME
TO HEAR. >> THIS BUT FINALLY. OKAY, SO THIS WOULD SUBSTANTIALLY ADD. >> TO THAT NOT. ENOUGH OKAY. YEAH. >> AND I JUST. WANT TO REITERATE. THE MATH SHOWS THAT IT WOULD AFFECT 10% OF THE SALES.
IN THE UH CITY OF BOSTON, WHICH IS. A SUPER MINORITY. AND JUST FOR THE RECORD, BECAUSE YOU SAID UH, 5 MILLION IN THERE RIGHT NOW AND. >> THEY'RE GOING TO COLLECT. 10 MILLION THIS YEAR. OKAY, GREAT. JUST IF YOU GUYS PEOPLE COULDN'T HEAR YOU. YEAH. >> ALL RIGHT. >> GREAT.
THANK YOU. >> THANK YOU SO MUCH. APPRECIATE IT I SHOULD HAVE PUBLIC TESTIMONY AND THEN HEAR FROM OUR ADVOCATES PANEL. UM WE'RE GOING TO START WITH UH CHINATOWN UH PROGRESSIVE ASSOCIATION.
WE HAVE JENNY HUANG. AND BING SEEING MY I'D LIKE TO APPROACH THE MICROPHONE JUST PUT YOUR NAME AND YOU HAVE TWO
MINUTES. HI. MY NAME IS JENNY HUANG AND I'M TESTIFYING ON BEHALF OF. CHINESE PROGRESSIVE. ASSOCIATION AND SO ON. >> BEHALF. OF OUR MEMBERS AND RESIDENTS
OF BOSTON CHINATOWN. THE CHINESE PROGRESSIVE ASSOCIATION IS HERE TODAY TO SUPPORT. THE HOME RULE PETITION SPONSORED BY. COUNCILOR SANTANA LOUIJEUNE AND DURKAN FOR THE REAL ESTATE
TRANSFER FEE AND SENIOR PROPERTY TAX RELIEF. SO FOR THOSE OF US WHO LIVE AND WORK IN THE CHINATOWN NEIGHBORHOOD. WE HAVE WITNESSED THE IMPACT OF HOUSING AND COMMERCIAL DEVELOPMENT BOOM. BUT AT THE SAME TIME WE HAVE
FAILED TO SEE HOW IMMIGRANT AND LOW INCOME FAMILIES HAVE BEEN ABLE TO REAP THE BENEFITS OF THIS KIND OF DEVELOPMENT AND WE SEE HOW DIFFICULT IT'S BEEN FOR WORKING CLASS FAMILIES TO FIND AND SECURE, SAFE AND STABLE PLACES TO LIVE WITH SUCH
A LIMITED. SUPPLY OF. TRULY AFFORDABLE HOUSING IN OUR OWN CHINATOWN, MANY OF OUR RESIDENTS WORK IN THE SERVICE INDUSTRY. >> AND. RESTAURANTS, GROCERY STORES AND HOTELS AND CONSTANTLY WORRY
ABOUT BEING DISPLACED WITH WORDS SURGING OUR CITY OUR CITY DESPERATELY NEEDS ADDITIONAL RESOURCES TO EXPAND ITS AFFORDABLE HOUSING STOCK, ESPECIALLY FOR A LOW INCOME RESIDENTS, SO A TRANSFER FEE
WOULD GENERATE MILLIONS OF DOLLARS EACH YEAR FOR THE AFFORDABLE HOUSING PROGRAMS THAT ARE CRITICAL TO THE STABILIZATION OF OUR COMMUNITIES. BY PASSING PETITIONS LIKE THIS ONE, OUR CITY WILL HAVE THE FUNDS IT NEEDS FOR THE KIND OF HOUSING DEVELOPMENT. THAT WILL.
>> TRULY SUPPORT OUR IMMIGRANT AND WORKING CLASS FAMILIES. SO WE URGE YOU TO PASS THIS PETITION AND THANK YOU FOR YOUR TIME. THANK YOU SO MUCH, JENNY.
UM, THE. LIKE BOB AND NG I KNOW YOU GUYS AMONG YOU THE HANGING GUY HE
MONGKOK WE GIVE YOUR A WHOLE LIFE I CAN'T WAIT A A WELL LONGER IN BY ANY CHANCE WE GET HIGH ON. SO MY NAME IS MOPPING SHANG MY
FAMILY A HOUSEHOLD OF THREE LIVES IN CHINATOWN AND I URGE ALL COUNCILORS TO SUPPORT THE PETITION FOR A SPECIAL LAW THE ACTUAL RELATIVES REAL ESTATE TRANSFER FEE AND SENIOR PROPERTY TAX RELIEF.
WELL MORE MONTOYA HONG CHIQUITA YOU DON'T CARE. GOD WHAT KIND? YEAH, I'M BY NAME BUT TAMARACK GINGHAM THOSE 1519.
LIKELY TO BE THE DEAL YOU WANT . YOU VOTE. YEAH AND THE GIRLS WANT TO. YOU GUYS YOU THINK LAMBERTON SHOULD HOW LAWYER?
OR DON'T LOOK WELL HANG CHEAP BIANCA OKAY, SO YOU. YO TOTEM POLE SHIP GIVE FULL BOND OUT TOILET FOR KINSHIP YET
VOLATILITY I BOUGHT A QUICKIE. OKAY, PUSH IT UP. UH BOND CUTE HUNKA. WE HAVE LIVED IN CHINATOWN FOR OVER 13 YEARS.
OUR FAMILY FACED THE THREAT OF DISPLACEMENT AND OVER A DECADE AGO I LIVED AT 21 EDINBURGH STREET. IT WAS A SINGLE UNIT YET THE RENT WAS ALREADY EXORBITANT AT
1030 $350 PER MONTH AND SUBSEQUENTLY MY LANDLORD DECIDED NOT TO RENEW THE GOVERNMENT AGREEMENT THAT PRESERVED THE BUILDING AS AFFORDABLE HOUSING, FORCING ALL 12 HOUSEHOLDS TO VACATE WITH THE EXCEPTION OF JUST ONE
FAMILY. THE REMAINING 11 FAMILIES, EVEN THOSE HOLDING SECTION EIGHT HOUSING VOUCHERS WERE UNABLE TO FIND SUITABLE HOUSING WITHIN CHINATOWN AND WERE FORCED TO MOVE OUT OF THE NEIGHBORHOOD ENTIRELY.
WELL I THOUGHT I CAN GEYLANG GEYLANG IT GO. THAT'S HOW I LOOK AT WHERE I KNOW SHE CAN'T GO WRONG NIGHT UPON DAY AT A KIM PONG BALL BY
A KONG CHOW OFF ON MY TOY. HOW TO A HIGH NAP. A QUARTER YOU COME ON ONG YOU GO KOWTOW UH BECAUSE IT'S
O'CLOCK AM GAME AT KEY HOW NAKED? OKAY, I CAN GO. NO, KIM. SHE GOT A COLUMN TOWING AUTHORITY OUR. SO YOU CAN GO YOU KONG IN HONG
KONG GUY OH OKEKE HOW. POINT UTTERLY BADLY NOT GOOD YEAH LOY HONE OH YOU QUIETLY AGAIN GUY. IN JULY OF 2020 WE SUCCESSFULLY
OBTAINED A SECTION EIGHT HOUSING VOUCHER. HOWEVER I ONLY HAD SIX MONTHS TO FIND A NEW HOME A TIME FRAME THAT MADE FINDING A HOME IN CHINATOWN VIRTUALLY IMPOSSIBLE . I INITIALLY FOUND A UNIT ON TYLER STREET, BUT THE LENDER
ULTIMATELY DECIDED NOT TO RENT TO ME BECAUSE THE SECTION EIGHT RENT IS LOWER THAN MARKET RENT AND THE LANDLORD RENT IT OUT. AT MARKET RENT. FORTUNATELY, WITH THE ASSISTANCE OF THE CHINATOWN COMMUNE ORGANIZATION, MY FAMILY OF THREE WAS ABLE TO SECURE
HOUSING AT OAK TERRACE. ALLOWING US TO REMAIN IN CHINATOWN. NO ISSUE. KEEPING AN ON GUY HIGHER ON I
ALLOWED NO ONE GET TO YOU I CAN GET YOU GOOD LAWYER EYES YOU YOU. CAN'T BE BETTER YOU KALEIDO LEUNG LOOK HIGH NAP GUY I IN
GEYLANG YET LOOK NINE GIVE WONKY MY TRAINING YIP CHEONG SHE HI BANG ON I'M BATMAN. BOSS YANG TO I SEE WHERE YOU GO
FROM UP OH MY GOD BUT LONG CONDOR YAN TALK ABOUT YOU KNOW MY GOD ACTUALLY BY MY. TANG LIGHT HEARTED I CAN ONLINE
GAME NIGHT GIG I LOVE TO GIVE YOU MY STORY ABOUT MY GOD MONEY CONDO AND UH FONG LOOK A SYMPTOM. OVER THE PAST DECADE OR SO I'VE WITNESSED NUMEROUS LOW RISE
BUILDINGS IN CHINATOWN CHANGE OWNERSHIP. INVARIABLY WHENEVER A BUILDING CHANGES HANDS, THE LOW INCOME FAMILIES RESIDING THERE ARE ONCE AGAIN SUBJECTED TO FORCED DISPLACEMENT. TAKE 106 TYLER STREET AS AN
EXAMPLE. AS AROUND 2016 THE ORIGINAL OWNER SOLD THE PROPERTY TO A NEW OWNER WHO PAID OVER $3 MILLION TO. ACQUIRE IT. >> IMMEDIATELY THEREAFTER, THE NEW OWNER EVICTED ALL THE LOW INCOME TENANTS INCLUDING THE
HAIR SALON LOCATED ON THE GROUND FLOOR. NOW THAT SAME OWNER IS LOOKING TO SELL THE BUILDING AGAIN, LISTING IT WITH AN ASKING PRICE OF 4.5 MILLION. YOU CAN FIND FURTHER DETAILS IN THE ATTACHED DOCUMENTS.
UM, IN THE SPAN OF JUST 20 YEARS THE VALUE OF THE SIGNAL BUILDING HAS BEEN ARTIFICIALLY INFLATED OR FLIPPED FROM 900,000 TO 4.5 MILLION. OUR WAGES SIMPLY CANNOT KEEP PACE WITH THE SKYROCKETING COST
OF RENT. SORRY YOU CANNOT KEEP MY NET LIKE TOKYO AT UH KANG LIKE. ONE GAME POOL.
HANG ON, I COULD HOW OKAY. TALL OUT. YOU CARE? WE CAN PULL HOI TANGA PING TO
UH PHOTO GAME EQUAL HE MONKEY HE HE HMONG POOL HOLDING WARNING MY GUY KEEP WATCHING KOI HIM HE GOING PROTEIN VIA GO
ON DATA. THEREFORE I STAND BEFORE YOU TODAY TO MAKE A FERVENT APPEAL TO THE GOVERNMENT AND PLEASE PASS THIS POLICY. IT WOULD SERVE AS A DETERRENT AGAINST REAL ESTATE SPECTATORS DRIVING UP PRICES WHILE
SIMULTANEOUSLY GENERATING ADDITIONAL FUNDING FOR AFFORDABLE HOUSING INITIATIVES. IT'S A WIN WIN SOLUTION. I SINCERELY HOPE THE CITY WILL TAKE ACTION TO STABILIZE OUR WORKING CLASS COMMUNITY AND PASS THIS LEGISLATION AS SOON AS POSSIBLE.
THANK YOU. THANK YOU VERY MUCH. OKAY, NEXT. >> UP WE'LL HAVE, UH, MICHAEL CAINE AND CORTINA VAN. ADAM BLOCK. AND UH, KAREEN MORISSETTE.
MICHAEL, YOU HAVE TWO MINUTES. OKAY. >> UH THANK YOU, COUNCILOR. THANK YOU FOR HOLDING THIS HEARING. UH, I'M MICHAEL CAINE FROM THE MASS ALLIANCE OF HUD TENANTS. WE'RE A STATEWIDE TENANT GROUP AND PRIVATELY OWNED SUBSIDIZED
HOUSING. UM, AND WE STRONGLY SUPPORT EFFORTS TO GET MORE MONEY FOR LOW INCOME RENTERS. UH, I SHOULD NOTE THAT THE CITY RENT SUBSIDY PROGRAM HAS BEEN
REDUCED BY $2 MILLION IN THE MAYOR'S BUDGET REQUEST, WHICH I HOPE YOU ALL CAN FIX DURING THE BUDGET PROCESS. UH, BUT I WANT TO EMPHASIZE THAT THIS HOME RULE PETITION IS
MAINLY GOING TO TAP THE LARGE COMMERCIAL AND INDUSTRIAL AND OFFICE DEVELOPERS WHO BUY AND SELL UH, PROPERTY LIKE A MONOPOLY GAME IN THE SEAPORT AND DOWNTOWN.
THAT'S WHERE THE REAL VALUE IS. IT'S NOT THE HOMEOWNERS SO MUCH IT'S THESE LARGE DEVELOPERS. I'LL GIVE ONE EXAMPLE SKANSKA, A SWEDISH COMPANY BUILT 101
SEAPORT FOR $150 MILLION IN 2015. THEY FLIPPED IT TWO YEARS LATER FOR 450 MILLION TO A GERMAN COMPANY. SO THERE'S $300 MILLION
OF SPECULATIVE GAIN THAT INFLATES THE OVERALL MARKET THAT IS WAS LEFT ON THE TABLE. THE CITY DIDN'T GET HARDLY ANY OF THAT MONEY. UH AND WHO WOULD CARE IF THEY
WERE TAXED IF THERE WAS A TRANSFER FEE TAXING THESE TWO LARGE CORPORATE GLOBAL INVESTORS THAT'S WHERE MOST OF THE, UH, 50 TO $100 MILLION
A YEAR WOULD COME. FROM. >> NOT THE HOMEOWNERS. SO UH AND ALSO THERE'S CONDO OWNERS, UH, PLACES LIKE UH UH, THE MILLENNIUM BUILDING THOSE
CONDOS ARE SELLING FOR $1,020 MILLION. WHO CARES? YOU KNOW THEY CAN AFFORD A SMALL THE BUYER OR SELLER CAN AFFORD A SMALL FEE. SO I JUST WANTED TO EMPHASIZE
THAT I STRONGLY SUPPORT PASSAGE OF THIS HOME RULE PETITION. WE NEED TO CONCENTRATE ON THE SENATE TO GET IT PASSED AND LOOKING TO THE COUNCILORS THAT
COULD HELP WITH WITH UH, SENATE SENATOR COLLINS FOR EXAMPLE, WHO'S BEEN AN OBSTACLE IN GETTING ANY KIND OF HOME RULE PETITION FROM BOSTON. UH, SO WE NEED HELP AT THE STATE HOUSE TO GET THIS STUFF DONE.
SO THANK YOU VERY MUCH. THANK YOU. >> MICHAEL. UH, CORTINA VAN. GOOD. >> GOOD MORNING. UM. >> LET ME PUT. THIS HERE TO THE WAY. UH. >> THANK YOU TO, UH.
CHAIRWOMAN COLETTE OF SUPPORTIVE. UM, THE LEADING SPONSORS. OF THIS, UM, SUBMISSION, UM, AND MEMBERS OF. >> THE COMMITTEE. MY NAME IS CHRISTINA VAN. I'M AN ORGANIZER. I'M ALSO PART OF THE.
UH, BOARD OF THE BACKED. BOSTON NEIGHBORHOOD COMMUNITY LAND. TRUST AND I'M AN. ORGANIZER AT MAHA MASSACHUSETTS AFFORDABLE HOMEOWNERSHIP ALLIANCE. WE ENCOURAGE YOU. TO PASS THIS PROPOSAL AND SET
IT. INTO THE STATE HOUSE. AS SOON. >> AS POSSIBLE AS CITY AND STATE BUDGETS. COME UNDER INCREASING. STRAIN, PASSING A. >> REAL ESTATE TRANSFER FEE. ON MULTIMILLION. DOLLAR TRANSACTIONS IS ONE OF THE MOST IMPORTANT ACTIONS
BOSTON AND. STATE LEGISLATORS CAN TAKE. TO ADDRESS OUR AFFORDABILITY CRISIS. OUR PEOPLE. >> NEED RELIEF. AND WE. >> NEED LEGISLATION TO INCREASE OUR COLLECTIVE CAPACITY TO RESPOND. WE THANK YOU MAYOR WU AND ALL OF YOU WHO HAVE SUPPORTED THIS
EFFORT. LET'S MAKE SURE WE GET THE NEW. PETITION PASSED. AND THROUGH THE LEGISLATURE. MY HOUSE MISSION IS TO EDUCATE AND MOBILIZE PEOPLE TO BREAK DOWN BARRIERS FOR FIRST TIME
HOMEBUYERS, FIRST GENERATION HOMEBUYERS AND HOMEOWNERS. WE TEACH. >> HOMEOWNERSHIP CLASSES AND OFFER PARTICIPANTS THE OPPORTUNITY TO HELP ADVOCATE FOR THE RESOURCES AND POLICIES OUR COMMUNITIES NEED. WE GRADUATED OVER 1800
HOMEBUYERS IN 2025 AND OVER 1300 FROM OUR HOMEOWNER CLASSES. 72 OF THEM HAVE HOUSEHOLD INCOMES BELOW 80% OF AMI AREA MEDIAN INCOME. WE ARE COMMITTED TO OPENING UP
OPPORTUNITIES FOR THESE BUYERS, STABILIZING OUR COMMUNITY HOMEOWNERS AND REDUCING THE RACIAL HOMEOWNERSHIP GAP IN BOSTON AND ACROSS THE STATE. TO DO THAT WE NEED DEDICATED AFFORDABLE HOUSING PRODUCTION
RESOURCES LIKE THE TRANSFER FEE. MHA ALSO SUPPORTS THE PROVISIONS IN THIS PROPOSAL RELATED TO UPDATING THE INCOME LIMITS FOR PROPERTY TAX RELIEF FOR BOSTON SENIORS.
MANY ARE REALLY STRUGGLING TO MAKE ENDS MEET AS WE'VE HEARD AND WE KNOW MAHAM WELCOMES THE OPPORTUNITY TO ENGAGE WITH THE MAYOR, THE MAYOR AND MEMBERS OF THE CITY COUNCIL, STATE.
LEGISLATORS AND OTHER STAKEHOLDERS TO PASS. THIS LOCALLY. >> AND AT. THE STATE HOUSE. THANK YOU ONCE AGAIN FOR ALLOWING ME THE OPPORTUNITY TO EXPRESS MY SUPPORT TODAY. THANK YOU CHRISTINA AND THANK
YOU FOR EVERYTHING YOU DO. UH, ADAM. AND THEN CORINNE. THANK YOU. UH, COUNCILORS AND MADAM CHAIR
,THANK YOU FOR THE. OPPORTUNITY TO. TESTIFY TODAY. >> MY NAME IS ADAM BLOCK AND I'M THE DIRECTOR OF REAL ESTATE FOR THE COMMONWEALTH LAND TRUST. WE'RE A BOSTON BASED NONPROFIT . OUR MISSION IS TO PRESERVE NEIGHBORHOODS AND TO PREVENT
HOMELESSNESS. WE FOCUS ON SERVICING VERY LOW INCOME RESIDENTS AND INDIVIDUALS WHO FACE SIGNIFICANT BARRIERS TO HOUSING, INCLUDING THOSE TRANSITIONING OUT OF HOMELESSNESS.
WE'VE BEEN COMMITTED TO DEVELOPING AND PRESERVING DEED RESTRICTED, DEEPLY AFFORDABLE HOUSING IN BOSTON FOR OVER 40 YEARS. TODAY WE DEVELOP AND OPERATE
AFFORDABLE HOUSING WITH INTEGRATED SUPPORTIVE SERVICES . OUR MODEL IS A PROVEN SOLUTION THAT STABILIZES NEIGHBORHOODS AND STABILIZES LIVES. WE'VE WORKED VERY CLOSELY WITH
THE CITY OF BOSTON AND IN PARTICULAR WITH A DEDICATED AND PROFESSIONAL TEAM, THE MAYOR'S OFFICE OF HOUSING OVER THE PAST SEVERAL YEARS TO ADVANCE OUR MISSION. DURING THIS TIME WE'VE
DEVELOPED 50 UNITS OF SUPPORTIVE HOUSING FOR BOSTON RESIDENTS AND WILL SOON CLOSE IN OUR FINANCING TO DEVELOP AN ADDITIONAL 16 UNITS THAT WE'LL BRING TO MARKET NEXT YEAR.
OVER THE COURSE OF THE LAST FIVE YEARS, RESIDENTIAL CONDOMINIUM VALUES IN BOSTON HAVE APPRECIATED BY MORE THAN 15% WHILE SINGLE FAMILY HOMES IN BOSTON HAVE APPRECIATED BY
30% BOTH OF WHICH FAR OUTPACING SALARY GROWTH. THAT SIGNIFICANTLY AND ADVERSELY AFFECTS HOUSING AFFORDABILITY IN THE CITY. FUNDS COLLECTED FROM THE
SUBJECT TRANSFER FEE WOULD REPRESENT A CRITICAL SOURCE OF FINANCING AFFORDABLE HOUSING . LOCAL CITY FUNDS ARE A REQUIREMENT TO UNLOCK STATE AND UH, OTHER SOURCES OF FINANCING
. THESE PROJECTS REQUIRE STRONG UM THESE PROJECTS REQUIRE STRONG PARTNERSHIPS THAT ENABLE THE CITY TO LEVERAGE STATE, FEDERAL AND OTHER PRIVATE SOURCES TO HELP ADDRESS LOCAL
NEEDS. THE CITY'S INVOLVEMENT IS AN INTEGRAL PIECE OF THAT EFFORT BECAUSE CITY COMMITTED FUNDS TRIGGER UM TRIGGER ADDITIONAL FUNDS THAT CAN DOUBLE OR TRIPLE THE ACTUAL AMOUNT FROM THE CITY
ITSELF. SO IT'S A CRITICAL RESOURCE. WE'RE GRATEFUL FOR THE CITY'S CONTINUED PARTNERSHIP AND COMMITMENT TO EXPANDING AFFORDABLE HOUSING OPPORTUNITIES, AND WE LOOK FORWARD TO, UH, WORKING ON THIS TOGETHER.
THANK YOU VERY MUCH. THANK YOU ADAM. NEXT UP WE. >> HAVE KAREEN MORISSETTE. I TOOK. HER TO MAKE OKAY, UM. WE'RE GOING TO MOVE.
TO THE ADVOCATE'S PANEL AND THEN TAKE, UH, THE SECOND ROUND OF PUBLIC TESTIMONY AFTER UM, SO AT THIS MOMENT I'D LIKE TO WELCOME, UH, TANYA KNOLL WHO'S THE EXECUTIVE DIRECTOR OF THE EAST BOSTON CDC.
UH, ANGIE UH. LIU WHO WHO'S THE. EXECUTIVE DIRECTOR OF THE ASIAN ,UH, CDC. >> A CDC. AND LILY. BRYANT, THE BOSTON CHAPTER. PRESIDENT OF MASS. SENIOR COUNCILOR TO COME AND,
UH. SIT ON THE FLOOR WITH US. AND THEN IF. >> FOLKS HAVE SIGNED IN BUT DO NOT WANT TO TESTIFY, WE'RE
GOING TO PUT THIS BACK UP THERE IF YOU WANT TO JUST PUT IT IN YOUR NAME, UM, FOR THE SECOND ROUND, PLEASE. >> FEEL FREE TO DO THAT. THANK YOU.
OKAY. >> WELCOME. WE'RE SO HAPPY TO HAVE YOU. THANK YOU SO MUCH FOR TAKING TIME OUT OF YOUR DAY TO BE HERE. UM. >> I'LL PASS IT OVER. I KNOW TANYA, I KNOW YOU. SO YOU'RE GOING FIRST PERSON. UM SO PLEASE FEEL FREE TO STATE
YOUR NAME, YOUR AFFILIATION AND UH UH. WHATEVER OPENING REMARKS YOU HAVE AND THEN WE'LL GO TO. ANGIE AND THEN LILY. THANK YOU. >> ABSOLUTELY. >> THANK YOU. UM, HELLO. MY NAME IS TANYA JANELLE AND I
AM A CO-EXECUTIVE DIRECTOR OF THE EAST BOSTON CDC. WE'VE BEEN LOCALLY. ROOTED IN THE NEIGHBORHOOD. >> OF EAST BOSTON FOR OVER 50 YEARS. BUILDING AFFORDABLE HOUSING HERE IN THE CITY OF BOSTON FOR
OVER 30 YEARS. THANK YOU, COUNCILORS FOR HAVING MEJIA TODAY I'M GOING TO SPEAK. >> A LITTLE BIT ABOUT HOW THE TRANSFER FEE. WILL IMPACT OUR CITY AND IN PARTICULAR OUR NEIGHBORHOODS
FUTURE. AND I MAY GET A LITTLE BIT NOSTALGIC ON YOU GUYS BECAUSE I. REALIZED THAT I PERSONALLY HAVE BEEN BUILDING AFFORDABLE HOUSING IN THE BOSTON AREA FOR OVER 20 YEARS.
I STARTED VERY YOUNG. AND I CAN TELL YOU THAT I'VE PERSONALLY SEEN THE COST OF BUILDING HOUSING GO FROM $350,000 A UNIT TO $750,000. >> A UNIT.
IT'S BEEN IT HAS. >> MORE THAN DOUBLED. WE'RE DEMANDING. BETTER CONSTRUCTION WITH LOWER EMISSIONS SO. >> THAT. OUR CHILDREN CAN REMAIN IN THE CITY AND LIVE LONG HEALTHY LIVES. WE'RE USING MORE SUSTAINABLE
RENEWABLE MATERIALS IN OUR BUILDINGS. WE'RE THINKING ABOUT INDOOR AIR QUALITY WITH ENERGY RECOVERY VENTILATION SYSTEMS. WE'RE BUILDING BETTER STORMWATER RETENTION. SYSTEMS SO THAT OUR NEIGHBORS
DON'T TAKE ON WATER IN THEIR BASEMENTS AND SO THAT OUR AGING STORMWATER SYSTEM LAST LONGER. WE'RE CONTRIBUTING TO SAFER SIDEWALKS AND INTERSECTIONS BUILDING WITH MOBILITY AND
SENSORY IMPAIRMENTS IN MIND. AND I'VE SEEN A LOT OF THIS CHANGE HAPPEN IN. THE LAST 20 YEARS. BUT DO. >> YOU KNOW WHAT HASN'T HAPPENED IN THE LAST 20 YEARS? THE FEDERAL RESOURCES TO FUND
THESE BUILDINGS. HAS NOT. MORE THAN DOUBLED. IN FACT, IT HAS EITHER STAYED RELATIVELY STABLE OR IN THE CASES OF HOME AND CDBG IT HAS
GONE DOWN AND ONE OF THE KEY PROGRAMS THAT COUNCILOR. CULPEPER BROUGHT. >> UP. EARLIER THAT CDC IS LIKE THE EAST BOSTON CDC HAVE USED TO BUILD TRULY, DEEPLY AFFORDABLE SENIOR HOUSING.
THE HUD 202 PROGRAM IS ALL BUT ELIMINATED. TRUE STORY OUR EARLY SENIOR HOUSING BUILDINGS APPROXIMATELY 300 UNITS WERE ALMOST ENTIRELY
FEDERALLY FUNDED. THE CAPITAL. THE OPERATING SUBSIDIES WE DID NOT HAVE TO RELY ON LOCAL AND STATE MONEY WHEREAS HUD'S
FEDERAL RESOURCES THIS IS HOW YOU KNOW I'M REALLY A DORK. I USED TO ACCOUNT FOR 78% OF THE RESOURCES FOR HOUSING AND COMMUNITY DEVELOPMENT IN THE CITY'S 2005 CONSOLIDATED ACTION PLAN.
IT NOW ONLY ACCOUNTS FOR 50%. >> OF THE RESOURCES. IN THE CITY'S 2025. CONSOLIDATED ACTION PLAN. THAT IS A 30% DECREASE WHEN THE COST TO DELIVER THAT HOUSING
HAS MORE THAN DOUBLED. SO WE. DO NEED TO. USE EVERY TOOL IN OUR TOOLBOX TO RAISE REVENUE FOR THE PROGRAMS THAT FUND AFFORDABLE HOUSING. AND NOW I'M GOING TO TALK A
LITTLE BIT ABOUT HOW THAT IMPACTS OUR NEIGHBORHOODS BECAUSE TEN YEARS AGO EAST BOSTON CDC WAS ABLE TO ACQUIRE PROPERTIES OFF THE PRIVATE MARKET USING JUST LOCAL
FUNDING. WE COULD GO OUT, USE THE AOP MONEY AND STOP SPECULATIVE INVESTORS FROM ISSUING NO FAULT EVICTIONS AND DISPLACING LONG TERM RESIDENTS.
AND NOW JUST TEN YEARS LATER, THAT PROGRAM ISN'T WORKING IN OUR NEIGHBORHOOD ANYMORE BECAUSE IT CAN'T KEEP UP WITH THE MARKET AND THE CITY JUST DOESN'T HAVE THE RESOURCES TO
KEEP UP WITH THE PRIVATE MARKET WITH WHAT WE'VE SEEN IN THE FEDERAL GOVERNMENT. AND IT'S NOT JUST ACQUISITION PROGRAMS THAT ARE FALLING BEHIND. EVEN WITH THE LONG PERMITTING TIMELINE FOR BOSTON PROJECTS,
THERE ARE MORE AFFORDABLE HOUSING PROJECTS PERMITTED AND READY TO. GO INTO CONSTRUCTION THAN THE CITY CAN AFFORD TO FUND. EAST BOSTON CDC ALONE HAS 57
UNITS THAT HAVE BEEN FULLY PERMITTED FOR OVER TWO YEARS THAT ARE STILL AWAITING FUNDS AND WE COULD ACQUIRE AND PERMIT MORE IF WE THOUGHT THERE WAS ANY CHANCE OF IT GETTING FUNDED.
THAT IS A SAD TRUTH. AS HARD AS IT IS TO ACQUIRE SITES IN BOSTON AND PERMIT THEM, WE WOULD HAPPILY DO A LOT MORE OF IT IF WE THOUGHT THERE. >> WAS ENOUGH. MONEY TO FUND MORE PROJECTS.
SO IT'S NOT A LACK OF CAPACITY AND IT'S CERTAINLY NOT A LACK OF DEMAND. I HAVE A WAITLIST THAT IS MORE THAN 800 PEOPLE LONG FOR UNITS THAT HAVE NO RENTAL SUBSIDY, NO
ELEVATORS AND NO PARKING. IMAGINE MY WAITLIST FOR NEW UNITS. I JUST WANT TO MAKE ONE MORE POINT. WHICH IS THAT IT'S NOT JUST ABOUT KEEPING UP WITH THE MARKET AND PIVOTING TO ADDRESS
FEDERAL ATTRACTION. LOCAL FUNDS ARE ACTUALLY THE MOST. VALUABLE THE MOST FLEXIBLE FUNDS WE CAN LEVERAGE FOR HOUSING AND THEY DO THE MOST GOOD.
THE EOP PROGRAM I MENTIONED PREVIOUSLY, THE ONE THAT KEEPS PEOPLE IN THEIR HOMES AND THEIR NEIGHBORHOODS AND PREVENTING DISPLACEMENT THAT'S LOCAL. FUNDING THE EXTRA MONEY THAT'S NEEDED TO CREATE PERMANENT
SUPPORTIVE HOUSING TO MAKE SURE THERE'S LOCAL SERVICES FOR THOSE UNITS. OVERWHELMINGLY THAT'S LOCAL MONEY HOMEOWNERSHIP THAT'S ACTUALLY AFFORDABLE TO OUR LONG TERM RENTERS WHO WANT TO STAY
IN THEIR NEIGHBORHOODS AND GROW THEIR ROOTS. THAT'S LOCAL MONEY. AND SO THIS POLICY IS NOT EXTRAORDINARY. IT IS ACTUALLY THE RIGHT INVESTMENT OF ONE'S PROFIT TO MAKE SURE THAT EVERYONE HAS A
PLACE TO LIVE IN BOSTON. AND IT IS ACTUALLY WHAT'S NEEDED IF WE'RE GOING TO KEEP UP WITH THE COST OF BUILDING SOME OF THE BEST AFFORDABLE HOUSING IN THE COUNTRY. THANK YOU. >> THANK YOU JUST REALLY QUICK TONY. YOU CALL YOURSELF.
>> A. DORK BUT. >> I WILL. >> CALL YOU AN AFFORDABLE HOUSING CHAMPION. WE'RE JUST REALLY GRATEFUL TO HAVE BRILLIANT AFFORDABLE HOUSING THERE. IT'S LIKE YOU IN DISTRICT ONE SO. THANK YOU FOR BEING HERE. THE PANEL IS FULL OF THEM SO.
THANK YOU. OKAY I'M ANOTHER. TALK. UM SO THANK YOU AGAIN FOR CITY COUNCILORS I KNOW WE'RE KIND OF CREEPING INTO LUNCHTIME. UM, BUT UM THANK.
>> YOU FOR THE OPPORTUNITY TO. SPEAK UM, ABOUT, UM, THE PROPOSED UM, TRANSFER FEE, UM, AND A SENIOR TAX EXEMPTION, UM ,HOME RULE PETITION. SO I'M ANGELOU I. CURRENTLY SERVE AS THE
EXECUTIVE DIRECTOR OF THE ASIAN COMMUNITY DEVELOPMENT CORPORATION. WE ARE A 39 YEAR OLD, UH, NONPROFIT COMMUNITY DEVELOPMENT CORPORATION MUCH LIKE TANYA'S,
UM, THAT CREATES AFFORDABLE HOUSING. UM, AND WE ALSO PROVIDE HOUSING AND FINANCIAL COUNSELING PROGRAMS IN BOSTON'S CHINATOWN BUT ALSO UM FOR OTHER LOW INCOME ASIAN AMERICAN RESIDENTS
THROUGHOUT THE GREATER BOSTON REGION. SO IN CHINATOWN WE CURRENTLY HOUSE OVER UM 1200 RESIDENTS THROUGH A VARIETY OF AFFORDABLE
APARTMENTS AND CONDOS THAT WE HAVE. DEVELOPED AND THROUGH OUR HOUSING COUNSELING FINANCIAL LITERACY PROGRAMS OVER THE YEARS WE HAVE ALSO HELPED OVER
3000 HOUSEHOLDS THROUGH FIRST TIME HOMEBUYER EDUCATION AND MATCH SAVINGS FINANCIAL LITERACY PROGRAMS. SO ALL IN ALL WE HAVE BUILT CLOSE TO 400 AFFORDABLE HOMES
IN CHINATOWN MOSTLY APARTMENTS BUT THERE ARE A HANDFUL OF AFFORDABLE HOMEOWNERSHIP CONDOS IN THERE TOO. AND WE'RE SUPER EXCITED THAT UH, NEXT FALL WE WILL BE
OPENING ANOTHER 110 AFFORDABLE UNITS ON HUDSON STREET. SO THAT IS UH, THE LATEST EXAMPLE OF A PROJECT THAT UM, RELIED REALLY HEAVILY ON LOCAL
SUBSIDY AS WELL AS UM, LAND FROM UM UH THE BPA UM AND JUST UH. GETTING NOSTALGIC A LITTLE BIT ABOUT THE TWO TO TO I DO NOT
HAVE THE PLEASURE TO WORK ON THOSE IN PERSON BUT UM AT THAT TIME I WORKED IN PHILADELPHIA AND SEATTLE AND YOU KNOW. ,THOSE. >> FEDERAL RESOURCES YOU KNOW, AT THAT TIME IT FELT LIKE IT I
GUESS YOU KNOW, WE DIDN'T REALIZE HOW LUCKY WE WERE TO HAVE THAT FEDERAL CAPITAL PROGRAM AS WELL AS UM, UH 100%
OF THE UNITS COMING WITH THOSE SECTION EIGHT UM PROJECT BASED VOUCHERS. SO THAT COULD REALLY MAKE THOSE LOW INCOME SENIOR HOUSING WORK . UM THOSE TIMES ARE NOT COMING
BACK AND. THE TIMES THAT WE LIVE IN NOW THERE'S NO ONE ELSE COMING TO SAVE US. RIGHT? >> UM WE WE READ ABOUT THOSE THREATS TO FEDERAL CUTS AND THE
STATE IS, UM, SCRAMBLING TO FIGURE OUT HOW TO, UH, MAKE UP HOLES IN THEIR BUDGETS. SO, UM, THERE'S NO ONE COMING TO SAVE US. WE REALLY HAVE TO, UM, FIGURE
OUT CREATIVE RESOURCES. UM, IF WE WANT TO CONTINUE TO HELP, UM. THE THE MOST VULNERABLE. RESIDENTS IN OUR CITY. SO YOU HEARD EARLIER, UH, SOME
TESTIMONY FROM CHINATOWN RESIDENTS. MUCH OF OUR WORK AT AC, DC. IS ABOUT COMBAT COMBATING THOSE GENTRIFYING FORCES IN CHINATOWN SO WE CAN PRESERVE AND
STRENGTHEN THAT NEIGHBORHOOD FOR THE WORKING CLASS IMMIGRANT RESIDENTS. SO IN THE PAST WE WERE SUCCESSFUL IN LEVERAGING PARCELS THAT WERE OWNED BY THE CITY IN THE STATE TO BUILD AFFORDABLE HOUSING.
BUT A COUPLE YEARS AGO, MUCH LIKE EAST BOSTON CDC, WE ALSO ENTERED THE PRIVATE REAL ESTATE MARKET TO BEGIN UM, LOOKING AT ACQUIRING PRIVATELY OWNED.
EXISTING BUILDINGS SO WE COULD PRESERVE. WHAT'S SOMETIMES KNOWN AS NATURALLY OCCURRING FOR A HOUSING AND MAKE SURE THAT THE TENANTS LIVING IN. THEM DON'T GET DISPLAYS. AS A RESULT. OF THEIR.
BUILDING GETTING SOLD. SO A COUPLE YEARS AGO WE WERE FORTUNATE. IN DOING. THAT UM, WITH SIGNIFICANT HELP FROM SHEILA'S OFFICE BECAUSE AT THE TIME. THERE WAS.
A LOT OF ARPA DOLLARS SO WE WERE ABLE TO BUY 64 BEACH STREET THAT'S BY THE CHINATOWN GATE. SO WE WERE ABLE TO SAY 14 APARTMENTS AND A LONG TIME CHINATOWN RESTAURANT ON THE GROUND FLOOR.
BUT SINCE THAT TIME THE FUNDING PICTURE LOOKS VERY DIFFERENT NOW PROJECTS IN OUR EXISTING PIPELINE ARE NOW SQUEEZED. BETWEEN CLIMBING COSTS. >> WE HAVE GOT TO DEAL. >> WITH HIGH INTEREST RATES UH HIGH.
CONSTRUCTION COSTS, UNCERTAINTIES. AND DECLINING FUNDING. ALL THE ARPA DOLLARS ARE GONE. YOU'VE HEARD EARLIER FROM. SHEILA THAT THE CITY. NOW HAS FEWER. DOLLARS FROM.
INCLUSIONARY ZONING AND LINKAGE. PAYMENT. >> AND WE CAN PROBABLY ALSO EXPECT. DECREASING FEDERAL SOURCES. >> THAT. TYPICALLY FUNNEL THROUGH TO CITY LIKE CDBG AND HOME DOLLARS.
SO THESE DAYS WHEN MY OFFICE. RECEIVES LEADS. ABOUT POTENTIAL SITES FOR. SALE OR FOR. DEVELOPMENT CHINATOWN I HAD TO HAVE LONG AND HARD CONVERSATIONS. WITH MY. >> STAFF ABOUT. HOW REALISTIC. >> IT IS.
TO GET. FUNDING FROM THE CITY. TO SUPPORT. THESE NEW. PROJECTS BECAUSE. >> I'VE. STILL GOT. >> A COUPLE OTHER. >> PROJECTS IN. >> MY EXISTING. PIPELINE AND SHEILA, I'LL BE CALLING YOU NEXT WEEK. I JUST GOT AN EMAIL.
TWO DAYS AGO AND. >> YOU KNOW I'M LIKE OH GOSH. SHOULD I. >> DO IT? >> YOU KNOW I DON'T I DON'T KNOW IF WE CAN. AFFORD THIS RIGHT. THIS IS. >> THE PRECISE. PROBLEM THAT TANYA TALKED ABOUT . UM IT LIKE TANYA SAID IT'S NOT ABOUT. >> LACK OF DEMAND. IT IS NOT ABOUT LACK
OF CAPACITY ON. >> OUR PART. WE'RE READY TO GO. WE HAVE A PIPELINE BUILDING. BUT I'VE. >> GOT TO. >> MANAGE THAT PIPELINE IF I. DO NOT THINK. THAT THERE. ARE IF THERE ARE NO. RESOURCES THAT ARE. GOING TO UH, ENABLE.
>> US TO. GO AFTER PURCHASE. THESE SITES AND TO BE ABLE TO. DEVELOP THEM. SO THOSE. >> ARE UM. BASICALLY OPPORTUNITIES. >> THAT ARE LEFT. ON THE TABLE. AND WITHOUT. NEW RESOURCES.
WE'RE NOT GOING TO BE ABLE TO SUSTAIN THE SAME LEVEL OF. AFFORDABLE HOUSING. DEVELOPMENT IN. CHINATOWN AND ACROSS THE CITY AND WE. >> WILL BE FALLING EVEN MORE OF A HAND BEHIND. >> ON THE DEMAND.
FOR AFFORDABLE HOUSING. YOU KNOW, DESPITE THE PANDEMIC AND. ECONOMIC UNCERTAINTIES, BOSTON. REMAINS THE ECONOMIC. CENTER FOR THIS REGION. AND THIS IS WHERE. WE DO HAVE THE CONCENTRATION
OF. LUXURY PROPERTIES. AND HIGH VALUE. COMMERCIAL PROPERTIES THAT. >> TRADE IN THE MILLIONS. UM UH I. HE HE LEFT BUT MICHAEL CAINE EARLIER POINTED OUT THAT YES IT
IS ABOUT TRANSFER FEE ON LUXURY HOUSING BUT IT'S ALSO ABOUT A TRANSFER FEE UM HIGH VALUE COMMERCIAL BUILDINGS UM THAT DO TRADE ON A REGULAR BASIS IN
BOSTON. SO THE IDEA OF IMPLEMENTING. >> A TRANSFER FEE IN BOSTON IS NOT A NEW IDEA. YOU KNOW, UM, THE CITY HAS TRIED A COUPLE TIMES AND SHEILA SHOWED EARLIER ALL THE
RESOURCES THAT WE LEFT ON A TABLE IF IT WAS, UH, LEVERAGED ,YOU KNOW, UM, EVEN JUST A COUPLE OF YEARS AGO, IT'S AT THIS JUNCTURE WHEN TOO MANY OF OUR RESIDENTS ARE STRUGGLING
WITH HOUSING COSTS AND WHEN WE ARE FACED WITH DWINDLING SOURCES, WE'VE GOT TO GET CREATIVE ABOUT LOOKING FOR ADDITIONAL SOURCES OF FUNDING.
I UNDERSTAND THE POTENTIAL, UM, YOU KNOW, CRITICISMS UM, AND ARGUMENTS AGAINST SUCH A FEE. UM, BUT LIKE LIKE I SAID, THERE'S NO ONE ELSE COMING TO SAVE US. WE REALLY HAVE TO COME UP WITH
THE RESOURCES, UM, IN ORDER TO SUPPORT OUR OWN RESIDENTS. SO, UM, IN CONCLUSION, UM, I REALLY HOPE THAT, UM, THIS COUNCIL WILL VOTE TO SUPPORT
THIS HOME RULE PETITION AND THEN, UM, YOU KNOW, WE WILL DO EVERYTHING WE CAN TO HELP US MOVED UH, IN YOU KNOW, IN THE NEXT UP IN THE HOUSE IN THE SENATE. THANK YOU. THANK YOU SO MUCH, ANDREA.
WE APPRECIATE YOU BEING HERE. UM, BEFORE WE GO OVER TO LILY, I JUST WANT TO, UM, ACTUALLY INVITE UP, UH, INTO, UM, SAIC UM, AND ROSIE, I KNOW I SAID THAT WRONG. I'M SO SORRY.
UM, SHE'S THE, UH, VP OF REAL ESTATE FROM THE NATIONAL PARK DEVELOPMENT CORPORATION. UM, WE'LL BE HEARING FROM HER AS WELL. I THINK HER PERSPECTIVE IS VALUABLE HERE. UH, LILY YOU HAVE. OH, OKAY.
GOOD MORNING. UH, COUNCIL. MY NAME IS LILY O'BRIEN. AND I'M A PROUD TO SERVE AS. >> THE PRESIDENT. UNMASKED AS BOSTON CHAPTER MASS SENIOR ACTION.
THANK YOU FOR THE OPPORTUNITY TO TESTIFY TODAY IN SUPPORT OF DOCKET 0163. THE PETITION THAT ESTABLISH.
A TRANSFER FEE ON. HIGH VALUE PROPERTY SALES AND EXPAND PROPERTY TAX RELIEF FOR SENIORS. AS A SENIOR. LIVING IN FIXED INCOME, I KNOW
FIRSTHAND THE CHALLENGE THAT FAR TOO MANY SENIORS FACE. WE WORKED. OUR WHOLE LIVES. WE RAISED OUR FAMILIES.
WE INVESTED IN OUR COMMUNITY. BUT NOW IN RETIREMENT WE FUND. EVERY YEAR. IT GETS HARDER TO AFFORD OUR BASIC NEEDS. AND STAY.
IN THE COMMUNITY THAT. WE HAVE BUILT RIGHT NOW. WE FEEL THE PRESSURE OF EVERY. WE FEEL THE PRESSURE FROM EVERY
SIDE. PROPERTY TAX AND RENT IS A RISING BY DOUBLE DIGITS. WHILE FOOD ASSISTANCE AND
HEALTH CARE IS GETTING CUT FOR THOSE THAT NEEDS WE KNOW COUNCIL. WE HAVE WE HAVE HAD. HEARD YOU HAVE HEARD MANY TIMES
FROM US OVER THE YEARS. AND WE THANK. YOU FOR CONTINUING TO THE EFFORT AND EXPAND AND RELEASE. WE ARE NOT GOING. >> TO GIVE UP.
BECAUSE HONESTLY. WE CAN'T AFFORD TO. WE APPRECIATE THAT. YOU ARE WORKING TO HELP. YOU HELP TODAY.
WE ALSO. WANT TO EXPRESS OUR STRONG SUPPORT FOR THE PROPOSAL A TRANSFER FEE IN BOSTON SEVEN.
OUT OF TEN SENIORS ARE LIVING ALONE. DO NOT HAVE. INCOME TO MEET THE BASIC NEEDS . IN ORDER TO GET BY. THEY HAVE TO.
RELY ON SUPPORTS AND THAT'S NOT ENOUGH. THE HELP IS NOT AVAILABLE. NO MORE THAN 39,000 SENIORS IN
BOSTON, INCLUDING 25,000 RENTERS ARE PAYING MORE THAN 30% OF THEIR INCOME IN HOUSING AND WAITING AND ON A WAITING
LIST FOR AFFORDABLE HOUSING. TAKEN FOR THE EXCUSE ME. AND WAITING FOR. ON A WAITING LIST FOR AFFORDABLE HOUSING IS TAKEN
YEARS AND MANY SENIORS BECOME UNHOUSED. THE TRANSFER FEE. COULD HELP BY PLACING. A SMALL FEE ON THE HIGH VALUE.
REAL ESTATE SALES. WE CAN GET MILLIONS OF DOLLARS FOR AFFORDABLE HOUSING EVERY YEAR. THIS IS A. FAIR WAY OF. RAISING MONEY TO INVENT THE
HOUSING WE DESPERATELY NEED. WE KNOW SENIORS ARE NOT THE ONLY ONE STRUGGLING. THIS IS A DIFFICULT TIME. FOR SO MANY ACROSS THE CITY.
AND WE MUST COME TOGETHER TO SUPPORT EACH OTHER. THOSE THAT CAN'T AFFORD MULTI MILLION DOLLARS HOME CAN'T AFFORD TO DO A LITTLE MORE. TO SUPPORT.
THE SENIORS WHO. HELP BUILD. THIS CITY AND THEIR. HARD WORKING FAMILIES TO. STILL CAN'T PAY THEIR RENT. NO ONE SHOULD. >> BE PRICED OUT OF.
THEIR HOMES. THEY LOVE THIS THAT. >> THEY LOVE. THE TRANSFER FEE. AND SENIOR PROPERTY TAX RELEASE GOES. HAND IN HAND. TOGETHER THEY REFLECT THE VALUE
THAT MOST BOS BOSTON'S STRONGEST COMPASSION. EQUITY OPPORTUNITIES FOR ALL. ON BEHALF OF MASSENA ACTION. WE URGE YOU TO.
APPROVE THIS HOME RULE PETITION QUICKLY. AND SEND A. STRONG MESSAGE THAT SENIORS ARE A VALUABLE PART OF BOSTON FUTURE. AND THAT THEY. DON'T NEED TO HAVE MILLIONS TO
LIVE HERE IN BOSTON. THANK YOU. THANK YOU LILY. THANK YOU. >> HI. >> GOOD MORNING. OR MAYBE AFTERNOON. UM. >> THANK YOU, UH. >> TO THE. COUNCIL FOR YOUR. FOCUS ON THIS CRITICAL ISSUE.
UH, MY NAME IS NTA AMBROGIO SASSA. I AM THE VICE PRESIDENT OF REAL ESTATE AT MADISON PARK DEVELOPMENT CORPORATION, A CDC IN ROXBURY CELEBRATING ITS 60TH YEAR. SO I HAVEN'T BEEN DOING IT FOR
20 YEARS, BUT THE ORGANIZATION HAS BEEN DOING IT FOR 60 YEARS. UM, I'M ALSO A RESIDENT OF CHARLESTOWN IN COUNCILOR COLLETTA SUPPORTERS DISTRICT. UM AND I THANK YOU PARTICULARLY FOR YOUR ATTENTION TO THIS ISSUE.
UM, I'M ALSO A PROPERTY OWNER INDIVIDUALLY AS A CITIZEN OF THE CITY. UM AND I WANT TO SPEAK TODAY IN STRONG SUPPORT OF THIS INITIATIVE.
UM, I WILL ECHO SOME OF WHAT UM ,MY COLLEAGUE IN THE INDUSTRY, TANYA SAID EARLIER ABOUT, UM, THE RISING COSTS OF PRODUCTION OF UNIT UNITS, THE LACK
OF RELIABILITY AT THE FEDERAL LEVEL, UM, AND MOSTLY UNDERSCORE THAT THESE TYPES OF FUNDS RESULTING IN TRANSFER FEES. WOULD BE. THE MOST FLEXIBLE KINDS OF FUNDS.
AS A DEVELOPER WITH EXPERIENCE USING IDP FUNDS FOR EXAMPLE, VERSUS OTHER SOURCES. UM, WE DEFINITELY FIND THAT THE TRANSACTION COSTS OF USING IDP ALONE AS A RESOURCE ARE MUCH
LOWER THAN WHEN YOU START TO LAYER IN FEDERAL AND STATE FUNDS. UM, AND THOSE PROJECTS ARE ABLE TO MOVE MORE QUICKLY. UM, SO ADDING TO THAT KIND
OF TRULY FLEXIBLE POOL ITSELF IS VERY USEFUL. UM, I ALSO WANTED TO HIGHLIGHT SOMETHING THAT COMES UP IN EVERY SINGLE COMMUNITY MEETING THAT I ATTEND AND I TRY TO ATTEND AS MANY AS I CAN.
I PRESENT REGULARLY ALMOST MONTHLY UM TO THE VERY STRATEGIC MASTER PLAN OVERSIGHT COMMITTEE DUE TO A FEW PROJECTS THAT MADISON PARK HAS HAD UM
DESIGNATED THROUGH THAT PROCESS FOR OVER TEN YEARS IN A FEW CASES. UM AND WE CONSISTENTLY HAVE TO GO BACK AND JUST SAY WE DON'T HAVE THE MONEY YET. WE DON'T HAVE THE MONEY YET. WE'RE STILL WAITING FOR THE
MONEY. UM, WE DO HAVE ONE HOMEOWNERSHIP PROJECT UNDER CONSTRUCTION RIGHT NOW FOR 15 UNITS OF ALL AFFORDABLE DEED RESTRICTED UNITS WHICH WE'RE VERY PROUD OF. BUT, UM, WE HAVE OTHER
HOMEOWNERSHIP PROJECTS IN OUR PIPELINE THAT WE EITHER HAD TO REMOVE THE HOMEOWNERSHIP COMPONENT OR WE'VE HAD TO DELAY THOSE PROJECTS STARTING BECAUSE OF THE HOMEOWNERSHIP COMPONENT. SO IN PARTICULAR WHICH I
PROMISE TO FOLKS WHEN THEY'RE EXPRESSING A LOT OF FRUSTRATION AT THESE MEETINGS THAT IN ROOMS LIKE THIS I WILL ADVOCATE FOR THE EXPANSION OF HOMEOWNERSHIP RESOURCES. SO SPECIFICALLY I THINK THIS
KIND OF POOL OF MONEY WOULD BE A REALLY CRITICAL ADDITION, UM, TO THE POOL OF HOMEOWNERSHIP RESOURCES. OF COURSE THE RENTAL UH COMPONENT IS ALSO VERY IMPORTANT AND WOULD BE WONDERFUL.
UM, BUT IF YOU AS A CITY COUNCILOR ARE REALLY CONCERNED ABOUT UM, HOMEOWNERSHIP RESOURCES IN PARTICULAR, I THINK THIS IS A VERY GOOD TOOL TO ADDRESS THAT ISSUE. THANK YOU SO MUCH. YEAH.
UM OKAY I'LL GO TO MY COLLEAGUES FOR ANY QUESTIONS THEY MAY HAVE. WE'VE, UH SO HAVE COUNCILOR SANTANA AND COUNCIL LOUIJEUNE HERE. UM, SO I'LL START WITH THE LEAD SPONSOR, COUNCILOR SANTANA. THANK YOU, MADAM CHAIR. AND THANK YOU, UM, FOR OUR
COMMUNITY PANEL. UM, THANK YOU SO MUCH FOR BEING HERE. THANK YOU FOR YOUR PATIENCE. I KNOW, UM, IT'S HARD TO KNOW NOW AND STARTED AT, YOU KNOW, EARLIER THIS MORNING. SO, UM, MY FIRST QUESTION IS FOR UM UM FOR BRIAN, THANK YOU
SO MUCH FOR FOR BEING HERE WITH WITH US. UM, AND I THINK YOU EXPRESSED UM, HOW YOU YOURSELF ARE ON A FIXED INCOME AND I THINK YOU WENT INTO A LITTLE DETAIL ABOUT
IF YOU CAN GO INTO MORE DETAIL ABOUT JUST WHAT THAT YOU KNOW YOU'RE HERE SPEAKING ON BEHALF OF OF OF MANY OTHER SENIORS UM, HERE IN OUR CITY ABOUT UH HERE IN OUR CITY. RIGHT.
SO, UM, CAN YOU JUST GO THROUGH THE DAY TO DAY CHALLENGES RIGHT NOW OF SENIORS WHO ARE ON FIXED INCOME AND WHY? YOU KNOW, I THINK WE UNDERSTAND WHY A TRANSFER FEE WOULD BE BENEFICIAL, BUT I THINK IT
WOULD BE HELPFUL FOR US TO UNDERSTAND SOME OF THE STRUGGLES RIGHT NOW THAT OUR SENIORS ARE FACING, PARTICULARLY THOSE ON ON FIXED INCOME. THANK YOU FOR THE QUESTION. UM. >> I WOULD SAY SOME OF THE CHALLENGE THAT YOU KNOW, WE
FACE IS. THAT IT'S A. >> FIXED INCOME. AND YOU. KNOW, WE. DON'T WORK OR. >> SOME OF. >> US CAN'T. WORK AND IT'S THE CHALLENGE IS TRYING TO REALLY. UM. >> USE THE. AMOUNT OF INCOME.
>> THAT. YOU HAVE TO. MEET YOUR REGULAR EXPENSE AS. FAR AS BUYING FOOD. YOU KNOW, YOU MIGHT GAIN UH, IN ONE AREA. UH, GETTING A.
RESOURCE BUT IF YOU'RE GETTING FOOD STAMPS THAT GET TAKEN AWAY FROM. YOU. >> YOU KNOW, IF YOU. UH UH GET UH SAVE ON A. COPAY AGAIN SOMETHING ELSE IS
GOING UP. YOUR UH, EMERGENCY. UH UH. WHAT DO YOU CALL IT? UM. >> WHEN YOU GO SEE YOUR UM. POSITION UM, KIND. >> OF THINK OF THE ONE THAT, UM THAT YOU, UM, HAVE TO PAY.
IS UM IN A WAY. . DIFFERENT THING. GOES UP YOU. >> GET YOU MAKE MONEY HERE AND. SOMETHING ELSE GOES UP. SO I JUST SEE IT'S JUST REALLY DAY TO DAY STRUGGLE TRYING TO
SAY WHAT AM I GOING TO. UM UM. NOT PAY TODAY. OR WHAT BILLS THAT YOU, UH. JUST KIND OF LET SLIDE. UH. >> A LOT OF TIMES YOU KNOW.
WITH MY FINANCE I'M JUST GOING TO SAY ABOUT ME. I HAVE SO MUCH THAT I HAVE TO TAKE OUT OF A FIXED INCOME THAT I JUST WAIT AND JUST LET AND PAY EVERYTHING AT.
>> ONE TIME. BUT GUESS WHAT? SOMETHING DIDN'T GET PAID BECAUSE I DIDN'T HAVE ENOUGH. AND I HEAR THIS FROM. MORE SENIORS ALL THE TIME.
YOU KNOW WE HAVE SOME SENIORS THAT ARE STILL WORKING UP TO 90 YEARS OLD. THEY ARE STILL WORKING BECAUSE THEY. DON'T HAVE THE. RESOURCES THAT THEY NEED. SO I JUST THINK THAT WITH.
THIS UM. EXPANDING THIS. UM. >> PROPERTY UH. UM SALES THAT IT WOULD HELP US IN A LOT OF WAYS. THANK YOU SO MUCH. THAT ANSWERED YOU OF. COURSE YOU DID.
NO, NO THANK YOU. I APPRECIATE YOU SHARING YOUR PERSONAL STORY AND I KNOW THAT, UM, YOU KNOW, I THINK LIKE I SAID EARLIER, I THINK YOU'RE SPEAKING ON BEHALF OF MANY OTHER EXPERIENCES HERE.
UM, SO I REALLY APPRECIATE THAT AND WHAT A TANYA I THINK UH, THANK YOU AGAIN FOR THE WORK THAT YOU DO. I MEAN, EAST BOSTON IS SUCH AN INTERESTING NEIGHBORHOOD. UM, IT USED TO BE I MEAN, LIKE
IT BE AN AFFORDABLE NEIGHBORHOOD. AND I REMEMBER WHEN I GRADUATED COLLEGE I WAS LIKE, YOU SHOULD MOVE TO EAST BOSTON. IT'S AFFORDABLE AND THERE'S JUST SO MUCH RAPID DEVELOPMENT THAT'S HAPPENED.
UM, YES. EVEN IN THE LAST 5 TO 10 YEARS. RIGHT. UM MY QUESTION TO YOU IS HOW IS THAT SPECIFICALLY IMPACTING OUR LONG TIME RESIDENTS AND PARTICULARLY OUR SENIORS IN
EAST BOSTON? MHM. >> YEAH. >> THANK YOU. YEAH. UM YOU KNOW MOST OF US MOVED TO BOSTON BECAUSE IT WAS AFFORDABLE AND IT WAS A WONDERFUL COMMUNITY AND UM AND
THERE HAS JUST BEEN A REALLY RAPID CHANGE OVER THE LAST TEN YEARS. I MOVED THERE 15 YEARS AGO. UM, AND STARTING ABOUT TEN YEARS AGO SUDDENLY HOUSING
STARTED TO GET ON THE RADAR SCREEN THAT PEOPLE WERE REALIZING MAYBE I WON'T BE ABLE TO BUY HERE. UM, AND THEN ABOUT FIVE YEARS
AGO IT WAS THEN IT BECAME THE NUMBER ONE PROBLEM. UM, I MEAN AND THEN IT WAS I CAN'T LOSE MY APARTMENT BECAUSE IF I HAVE TO MOVE I CAN'T AFFORD TO RENT HERE ANYMORE.
UM, SO WE ON A DAILY BASIS ARE SEEING FAMILIES HAVING TO LEAVE THE SCHOOL SYSTEM AND WHEN OUR FAMILIES LEAVE THE SCHOOL SYSTEM, THEY USUALLY ARE LEAVING THE BOSTON PUBLIC SCHOOL SYSTEM BECAUSE THEY'RE MOVING OUT.
TO LESS. EXPENSIVE UM, TOWNS TO THE NORTH. UM, SO FAMILIES ARE LOSING THEIR SUPPORT SYSTEM. THEY'RE LOSING ALL OF THEIR CONNECTIONS TO FAMILY AND EXTENDED FAMILY, WHICH IS
HELPING TO RAISE THEIR FAMILY AND ALLOWING THEM TO WORK. UM, SO IT REALLY IS UH, YOU KNOW, THE KIND OF RAPID REAL ESTATE SPECULATION AND THE
INCREASE IN THE MARKET RENTS THAT WE'VE SEEN HAS BEEN VERY DESTABILIZING TO OUR NEIGHBORHOOD AND TO THE LONG TERM RESIDENTS AND TO THE ABILITY TO FAMILIES TO PUT DOWN ROOTS AND STAY SOMEWHERE FOR 20 OR 30 YEARS WHILE THEIR KIDS.
>> GROW UP. UM, AND SO I THINK THAT'S WHY THE TRANSFER FEE FEELS LIKE AN APT. TOOL TO. >> ADDRESS THE CHALLENGING TIMES BECAUSE WHEN THE TIDES ARE RISING IN REAL ESTATE THEY
SHOULD RISE FOR EVERYBODY AND THEY'RE NOT QUITE FRANKLY AND I THINK THAT THE CITY'S DONE AN INCREDIBLE JOB OF LEVERAGING A LOT OF THE THE FRONT END TOOLS LIKE IDP AND INCLUSIONARY, YOU
KNOW, TO TO TRY TO EXTRACT WHAT WE CAN FROM NEW DEVELOPMENT THAT'S COMING INTO THE COMMUNITY TO MAKE SURE THAT IT'S PAYING ITS FAIR SHARE. UM, BUT. THE TOOL THAT WE HAVEN'T REALLY THOUGHT ABOUT IS WELL, WHAT
ABOUT THE PEOPLE WHO ARE CASHING OUT AND SELLING TO THOSE DEVELOPERS? RIGHT. HOW DO WE MAKE SURE THAT UM BECAUSE I'LL TELL YOU THE TRUTH, IF MY HOUSE GOT TO THE
POINT IN EAST BOSTON WHERE IT WAS WORTH $2 MILLION, I WOULD BE ECSTATIC TO PAY SOME OF THAT BACK TO THE CITY THAT HELPED MAKE. THAT HAPPEN. BECAUSE IT REALLY IS ON THE
BACKS OF THE NEIGHBORHOODS AND THE PEOPLE WHO ARE LIVING THERE CLEANING UP THE PARKS AND MAKING THEM GREAT AND ADVOCATING FOR THOSE PARKS. THAT'S WHY MY HOUSE MAYBE WOULD GET TO THAT POINT IN THE CITY. SO I APPRECIATE YOU SHARING
THAT. UM, AND I APPRECIATE EVERYONE'S WORK ON THIS PANEL. UM, AND NICE TO SEE YOU. UM, SO THANK YOU SO MUCH FOR FOR THE WORK. UM, THANK YOU, MADAM CHAIR. THANK YOU. >> COUNCILOR SANTANA.
COUNCILOR LOUIJEUNE. THANK YOU. UM, MADAM CHAIR AND THANK YOU TO EVERYONE, ALL OF THE. INCREDIBLE ADVOCATES, ALL THE PUBLIC TESTIMONY. THAT WE HEARD EARLIER. FROM UM MHA MESHES AFFORDABLE.
HOUSING ALLIANCE, THE. UM. >> UH MASS ALLIANCE OF HUD TENANTS, COMMONWEALTH LAND TRUST. UH CHINESE PROGRESSIVE ASSOCIATION REALLY GRATEFUL FOR ALL. >> OF THEIR WORK. LILY, REALLY THANK YOU. >> FOR BRINGING YOUR, UM, THE. EXPERIENCE OF SO MANY OF OUR. SENIORS INTO THIS SPACE.
INCREDIBLY IMPORTANT. UM, GRATEFUL. FOR OUR POLICY DOCS. HERE. >> WHICH I COUNT AS IN TIA. AND ANGIE. AND TANYA. WHO UH. TANYA ESPECIALLY I REMEMBER WHEN I WE I REMEMBER WHEN WE
FIRST HAD A CONVERSATION BEFORE I EVEN KNEW WHO YOU ARE AND WE WERE JUST. TALKING AND NERDING OUT. ABOUT HOUSING. POLICY AND THE BELOVED. PARTNER OF. >> MY OWN POLICY DIRECTOR. SO TANYA IS, UH, ONE OF OUR OWN. WE LOVE JESSE AND TANYA IN.
>> OUR OFFICE. >> SO, UM. THANK YOU. I WANNA ALSO THANK SO MANY OF YOU FOR UPLIFTING THE IMPORTANCE OF THE ACQUISITION. OPPORTUNITY PROGRAM. I SAY ALL THE TIME. THAT IT'S EASIER TO. KEEP SOMEONE IN THEIR HOME THAN. >> IT IS. >> TO.
BUILD A NEW HOME AND THE MONEY AND SO I AM HOPING THAT YOU'RE ABLE TO ACTUALLY. >> YOU. KNOW, WORK. >> ON THE PROJECT BECAUSE WE KNOW THAT THE BEST THING THAT WE CAN DO TO PREVENT DISPLACEMENT, UM, IS TO KEEP SOMEONE IN THEIR. >> HOME AND. YOU KNOW, SOMETIMES MAKING.
NECESSARY UPGRADES AND AND AND WHAT HAVE YOU TO THAT HOME. UH, BUT I'M WONDERING SORT OF WHAT YOUR EXPERIENCE AND I WAS ACTUALLY REALLY GLAD TO BE ON THE COUNCIL WHEN WE INVESTED I BELIEVE IT WAS $27 MILLION.
OF OUR. >> ARPA MONEY. INTO THE ACQUISITION OPPORTUNITY PROGRAM SUPPORTING NONPROFIT DEVELOPER SUPPORTING COMMUNITY LAND TRUST WITH ALTERNATIVE VISIONS FOR WHAT IT MEANS TO. UM OWN.
LAND IN THE CITY BUT WHILE ALSO WHO WHO ARE INDUSTRY OR REAL ESTATE INDUSTRY IS CATERING TO. I'M WONDERING. >> IF YOU ALL CAN SPEAK A LITTLE BIT MORE TO YOUR EXPERIENCE WITH THE ACQUISITION OPPORTUNITY PROGRAM. AND HOW MONEY FROM THE TRANSFER
FEE COULD HELP, UH, PUSH BACK AGAINST THE SPECULATIVE MARKET AND THE DISPLACEMENT THAT WE OFTEN SEE. UM, I, I CAN START UM I THINK IT WAS A YEAR OR. TWO AGO.
UM, THE METROPOLITAN AREA PLANNING COUNCIL UH, RELEASED A REPORT ABOUT UM. IN INVESTOR UM HELD UM
PROPERTIES SPECIFICALLY IN THE RESIDENTIAL UM SECTOR. UM, YOU KNOW AND FROM THAT PART AS PART OF THE FINDINGS OF THAT REPORT, IT TOLD US SOMETHING
THAT I THINK WE ALL ALREADY KNEW WHICH WAS THAT UM. TENANTS ARE. THE MOST VULNERABLE TO DISPLACEMENT WHEN A BUILDING GETS SOLD WHEN THEIR BUILDING,
UM, GETS SOLD AND YOU KNOW, OWNERS. EVEN IF IT'S A MOM AND POP, YOU KNOW, OWNER THAT HAS HELD A BUILDING FOR MANY YEARS. UM, SOMETIMES PEOPLE NEED TO
RETIRE. THERE ARE LIFE CHANGES UM, AND UM BUT WHEN THE MARKET IS THE. WAY IT IS. UM, YOU KNOW, THAT'S WHEN UM, A
LOT INVESTORS WILL WANT TO COME IN AND BUY UP THOSE BUILDINGS. TOO MANY TIMES IN CHINATOWN AND I'M SURE IN OTHER NEIGHBORHOODS TOO. THAT'S WHEN WE HEAR ABOUT UM,
TENANTS UM, GETTING UH. DISPLACED AND MANY TIMES THERE'S NO FORMAL, YOU KNOW, NOTICE TO QUIT EVICTION NOTICES MANY TIMES IT'S UM YOU KNOW, THEY'RE RAISING THE RENT OR
SOME EXCUSES AND THE TENANTS GET DISPLACED. THEY THEY CAN'T FIND ANOTHER AFFORDABLE PLACE TO LIVE. IN THE SAME NEIGHBORHOOD. AND SO WHAT. THE EOP.
PROGRAM UM, IS TRYING TO DO IS . ACKNOWLEDGING THE PROBLEM THAT YES, WE DO NEED TO PRODUCE NEW AFFORDABLE HOUSING STOCK. BUT UM, THERE ARE THESE.
EXISTING UM NATURALLY OCCURRING FORM OF HOUSING ON THE MARKET TOO. THEY DON'T HAVE. >> ANY EXISTING RESTRICTIONS PROTECTING THEM. RIGHT. THE OWNER CAN SELL TO ANYBODY THEY WANT AND SO UM EOP CREATES
THIS RESOURCE. TO HELP UH TO ENABLE NONPROFITS LIKE OURS. TO TRY TO UM. YOU KNOW, TAKE AT LEAST SOME. OF THESE BUILDINGS OFF THE SPECULATIVE MARKET.
AND SO OFTENTIMES, YOU KNOW, WHEN. >> WE GO IN. THESE ARE YOU KNOW, THE BUILDINGS OR HAVE EXISTING TENANTS IN THEM. UM AND SO. >> IT'S A. IT REQUIRES A DIFFERENT SET
OF THINKING. BECAUSE IF YOU. >> JUST LOOK AT BIG. PICTURE NUMBERS WHICH I UNDERSTAND SHEILA'S OFFICE HAS TO DO RIGHT LOOKING AT HOW MANY UNITS THEY'RE PRODUCING EVERY YEAR. SO IF YOU JUST LOOK AT THAT MAYBE IT'S NOT.
INCREASING NEW. NET NEW UNITS BUT IT IS ADDING TO THE. INCOME RESTRICTED. STOCK AND IT IS. SUPER SUPER IMPORTANT. SO YOU KNOW. IN 2022.
WHEN WE WERE ABLE TO DO THAT AT 64 B STREET WE HAD LONG CONVERSATIONS WITH UH OUR BOARD. WE HAD A VERY SHORT TIME TO, YOU KNOW, MAKE AN OFFER AND NEGOTIATE WITH THE SELLER.
WE WERE YOU KNOW, IN CONTACT YOU KNOW, BOTHERING THE OUT OF SHEILA, YOU KNOW, AND TALKING TO DIFFERENT LENDERS AND WHATNOT. SO WE GOT 30 DAYS, YOU KNOW, DID YOU EVERYTHING. UM, AND WE.
COLLECTIVELY FELT THAT IT WAS SUCH. >> AN IMPORTANT THING TO PRESERVE THOSE 14 UNITS. THE TENANTS LIVING. >> IN THEM MOST OF THEM ARE RESTAURANT WORKERS, UH, WORKING IN CHINATOWN RESTAURANTS. AND THAT GROUND FLOOR UH.
UH. >> GOLDEN GATE RESTAURANT HAS BEEN THERE FOR MANY, MANY YEARS. BECAUSE WE'VE SEEN THAT UM. STORY PLAY OUT TOO. MANY TIMES. >> IN CHINATOWN. IS WE KNEW IF THE IF WE WOULDN'T.
SHOW UP WITH OUR OFFER AND THEY SOLD IT TO ONE OF THE OTHER INVESTORS PROBABLY WITHIN THREE MONTHS, SIX MONTHS ALL THOSE TENANTS ARE GOING TO BE GONE AND THAT RESTAURANT MIGHT NOT BE THERE.
YOU KNOW, YOU ASKED SPECIFICALLY UM, COUNCILOR LOUIJEUNE ABOUT UM YOU KNOW, HOW THE TRANSFER FEE COULD HELP UPLIFT THE PROGRAM AND MAKE IT EVEN MORE EFFECTIVE THAN IT ALREADY HAS BEEN? I THINK IT'S DOLLARS AND CENTS
. I THINK YOU KNOW, I WILL TALK ALL DAY ABOUT THE DIFFERENCE THAT MONEY WILL MAKE. UM, IN AND THE DIFFERENCE FOR
US AND FOR THE CITY IS THAT WHEN YOU HAVE AND YOU'RE SEEING THIS NATIONALLY MORE AND MORE INTERNATIONAL INVESTORS BUYING PROPERTY AND OWNING OCCUPIED
PROPERTY UM, IN OUR NEIGHBORHOODS THE DIFFERENCE IS THAT WHEN THERE'S AN ISSUE WITH THAT PROPERTY, WHEN THE TENANT FALLS BEHIND IN RENT, YOU PICK UP THE PHONE AND YOU CALL A
LOCAL OWNER A CDC, A NONPROFIT ,SOMEONE WHO THE CITY HAS INVESTED IN AND WE WORK IT OUT, UM, AND WE PRESERVE THOSE TENANCIES AND WE KEEP WE KEEP THE RENTS LOW.
WE KEEP THEM AFFORDABLE BECAUSE WHAT WE SAW WAS THAT, YOU KNOW, THE THE HOUSES WHEN WE STARTED BUYING THEM WERE 600,000. TEN YEARS LATER THEY'RE 1.2 MILLION. THE PEOPLE LIVING IN THEM FOR
THAT TEN YEAR PERIOD ARE THE SAME PEOPLE. SO THERE'S NO WAY THAT THEY CAN DOUBLE THEIR RENT. IT'S JUST NOT IT'S JUST NOT POSSIBLE AND THE TRANSFER FEE CAN INFUSE THAT.
IT CAN INFUSE THAT PROGRAM WITH A LOT MORE MONEY AND GIVE THE CITY A LOT MORE FLEXIBILITY TO IMPLEMENT THAT PROGRAM IN NEIGHBORHOODS THAT HAVE SEEN HIGHER COST INCREASES AND SALES VALUES.
UM, IT CAN GIVE THE CITY MORE FLEXIBILITY IN THAT PROGRAM TO THINK ABOUT THE TEN YEAR TYPES THAT IT CAN ADDRESS WITH THAT PROGRAM WHETHER IT'S LEASE TO OWN YOU KNOW, UM, AND HOW IT
CAN IT'S IT'S A REALLY FLEXIBLE PROGRAM. IT WORKS IN A LOT OF NEIGHBORHOODS. BUT IF THE MONEY RUNS OUT AND WE DON'T HAVE ARPA ANYMORE THAN IT IT REALLY I THINK WOULD
BENEFIT FROM AN INFUSION OF CASH. UM. >> I'LL CHIME IN TO ANSWER THE QUESTION SOMEWHAT SIDEWAYS ABOUT THE ACQUISITION OPPORTUNITY FOR WHICH MADISON PARK HAS ALSO USED AND HAS BEEN A FANTASTIC RESOURCE IN ROXBURY
AS WELL. UM, I'M ALSO ON THE ARTICLE 80 STEERING CAMP MODERNIZATION STEERING COMMITTEE. UM, AND IN IN THOSE MEETINGS. >> AND. MEETINGS HOSTED BY THE MAYOR'S
OFFICE OF HOUSING UM WE ARE HEARING A LOT ABOUT HOW THE LACK OF A OF A LARGE DEVELOPMENT PIPELINE IN BOSTON BECAUSE OF THESE REALLY HIGH COSTS UM, AND BECAUSE
OF INTEREST RATES, ALL OF THESE THINGS. RIGHT, THAT WE CAN'T CONTROL. UM, THERE'S NOT THE SAME REPLENISHMENT OF THOSE THAT IDP POT UM OR OTHER RESOURCES AND I
THINK ONE OF THE REALLY IMPORTANT THINGS ABOUT THE TRANSFER FEE SPECIFICALLY IS THAT IT DOES NOT RELY ON PROJECTS THAT MAKE IT TO MARKET IN TERMS OF LIKE THEY DOESN'T RELY. >> ON A PROJECT THAT GETS ALL. >> THE WAY THROUGH THE
DEVELOPMENT PIPELINE TO THEN REPLENISH THE POOL. IT'S SOMETHING THAT ENTERS AT A MUCH SORT OF IT'S A MUCH LOWER FRICTION TRANSACTION FOR AN INDIVIDUAL TO SELL A PROPERTY.
AND ACTUALLY THE FACT. >> THAT THERE'S NOT THESE HUGE DEVELOPMENTS HAPPENING. MEAN THAT THERE'S MORE AND MORE VALUE IN THOSE LOWER LEVEL INDIVIDUAL FAMILY OR INDIVIDUAL INVESTOR TRANSACTIONS WITH ONE
UNIT AT A TIME OR ONE PROPERTY AT A TIME. AND SO I THINK THE FACT THAT THIS CAN CAPTURE THE VALUE OF THOSE TRANSACTIONS WHICH ARE ONGOING AND ARE NOT GOING TO
STOP INCREASING IN VALUE UM, REALLY ALLOWS THE FLEXIBILITY TO REPLENISH A POOL AT THE TIME WHEN IT'S NOT BEING REPLENISHED BY THESE SOURCES THAT USED TO WORK LIKE LINKAGE OR IDP THAT
RELY ON LARGER DEVELOPMENT PROJECTS TO ACTUALLY GET TO THE FINISH LINE. WHICH ISN'T HAPPENING. I I WILL SAY TO INDIA'S POINT LIKE WE SAW A BIG UPTICK IN
BROKERS CALLING TO TRY TO SELL OCCUPIED BUILDINGS PERFORMING ASSETS. YOU KNOW, AS SOON AS THE CONSTRUCTION BOOM SLOWS DOWN THAT'S WHERE INVESTORS ARE STARTING TO LOOK TO PUT THEIR
MONEY AND SO YOU REALLY DO IT IS A GOOD WAY TO BALANCE THE MARKET IN TERMS OF WHERE YOU'RE EXTRACTING UM, BECAUSE THOSE KINDS OF INVESTORS ARE STILL
LOOKING FOR PLACES AND STILL LOOKING FOR TRANSACTIONS EVEN IF THEY'RE NOT BUILDING NEW GROUND UP HOUSING. AND SO THOSE KINDS OF TRANSACTIONS AND THOSE SALES ON THE LARGE COMMERCIAL LEVEL ARE STILL HAPPENING. YEAH.
>> IF I MAY JUST ADD YOU KNOW. DO YOU SEE UM IN HEADLINES UH, YOU KNOW, EVEN VERY RECENTLY UM ,A LOT OF COMMERCIAL AND OFFICE BUILDINGS IN A CITY THAT UM, ARE TRANSFERRING HANDS.
AT A. >> DEEP DISCOUNT BUT THEY'RE STILL WELL OVER THE $2 MILLION THRESHOLD. THANK YOU. UM THANK YOU, UH, FOR THE RESPONSE. I THINK, UH, DOLLARS AND THIS
IS ABOUT DOLLARS AND CENTS AND MAKING THAT, UM, MAKING IT REAL SO THAT FOLKS LIKE THAT FROM ASKING YOUR ACTION COUNCIL LILLIAN EVERYONE WHO'S HERE AND YOU KNOW SO MANY
PEOPLE THAT WE KNOW I MEAN THIS WEEK MY OFFICE WAS INVOLVED IN, YOU KNOW, STOPPING AN EVICTION UM, ON THURSDAY ON TUESDAY IN BOSTON HOUSING COURT WE JUST
GET THIS OVERWHELMING UM, SENSE ALL OF THE TIME THAT SO MANY OF OUR RESIDENTS ARE CARRYING THE STRESS OF HOUSING. AND THIS. >> IS ONE THING THAT COULD BE HELPFUL TO THEM. SO THANK YOU. THANK YOU, COUNCILOR LOUIJEUNE.
UH, I JUST HAVE ONE QUESTION. UM. I THINK TO QUANTIFY A LITTLE BIT MORE AND YOU ALL HAD UM. TO OUR TO OUR CDC. LEADERSHIP YOU HAD UM, MENTIONED THAT YOU KNOW. THIS COULD.
HELP FILL THE GAPS AND. UM. >> YOU KNOW, WE'RE WAITING FOR. HOMEOWNERSHIP MONEY. >> AND UM. AND THE CHALLENGES THAT COME FROM JUST TRYING TO. NAVIGATE THE SYSTEM. WITHOUT UM, ANY. SORT OF. >> CREATIVE REVENUE.
STREAMS ESPECIALLY WITH WITH THE 202 BEING GONE. I LEARNED A LOT ABOUT. 2 OR 2 TODAY. I HAD NO IDEA AND IT'S IT'S. UM IT'S. ALMOST IMPOSSIBLE TO THINK ABOUT EAST BOSTON IN PARTICULAR
WITHOUT SOME OF THESE TREASURED UH, SENIOR SPACES AND THE HUNDREDS OF PEOPLE THAT LIVE THERE INCLUDING MY GREAT AUNT. I DON'T KNOW WHAT I WOULD DO IF I DID NOT HAVE A PLACE TO LIVE IN HER OWN COMMUNITY. AND IT'S JUST IT'S IT'S CRAZY
TO THINK LIKE IN THE. FUTURE IF WE DON'T GET CREATIVE, IF WE DON'T UTILIZE THESE TOOLS. UM, WHAT THAT COULD MEAN FOR COMMUNITIES AND THE VERY FABRIC OF OF OF WHO LIVES THERE. SO THANK YOU FOR PUTTING THAT
INTO CONTEXT. BUT MY QUESTION IS MORE AROUND THE QUANTIFYING SPECIFICALLY IF THIS WERE TO PASS, UH, THE WAY IN WHICH WE WANT TO YOU KNOW, THIS JULY WE GET THIS BACK, WE GET THE ORDINANCE, WE PUSH THAT
FORWARD PRETTY QUICKLY. HOW MANY UNITS DO YOU THINK THAT YOU CAN GET ONLINE IN THE NEXT. YEAR OR. >> TWO YEARS? AS MANY AS. THE CITY WALL. >> EVERYBODY AND EVERYBODY WILL. SAY I'M. IF YOU HAD A MAGIC WAND.
HOW MUCH THEY HAVE I'M SURE WE CAN. PUT THEM. TO USE. I MEAN I THINK I THINK THAT EVERY CDC IN THE CITY WOULD LIKE TO HAVE A NEW PROJECT GOING INTO CONSTRUCTION EVERY YEAR.
UM, AND WHEN YOU THINK ABOUT THE REAL ESTATE EXPERTISE THAT YOU HAVE IN THE CITY, YOU COULD DO IT. WE COULD DO IT. SO, UM I'D HAVE TO THINK ABOUT HOW TO QUANTIFY THAT.
BUT YOU KNOW, AN AVERAGE PROJECT NOW CAN BE ANYWHERE FROM LIKE 8 TO 15 UNITS ALL THE WAY UP TO 100 UNITS EASY. UM, SO IT REALLY IS A PRETTY
LARGE ORDER OF MAGNITUDE WHEN YOU. THINK ABOUT THE KIND OF PIPELINE THAT IS MANAGING WITH ALL OF THEIR FUNDS. I THINK WE'RE TALKING ABOUT HUNDREDS OF UNITS EVERY YEAR
GETTING BROUGHT ONLINE BECAUSE OF THOSE. OKAY. >> UM, I JUST MET WITH, UH, THE MAYOR'S OFFICE OF HOUSING STAFF EARLIER THIS WEEK TO GO OVER OUR PIPELINE. MADISON PARK, UM, HAS A 50 DAY
HOMEOWNERSHIP PROJECT UNDER CONSTRUCTION RIGHT NOW. UM, BUT IT IS OUR FIRST CONSTRUCTION PROJECT IN FIVE YEARS AND WE DO HAVE A BACKED UP PIPELINE. UM, SO A VERY SPECIFIC EXAMPLE
IS WE HAVE A 35 UNIT UM HOMEOWNERSHIP PROJECT IN NUBIAN SQUARE THAT DOESN'T HAVE THE RESOURCES THAT IT NEEDS TO MOVE FORWARD AS A HOMEOWNERSHIP
PROJECT BUT COULD BE PERMITTED WITHIN LIKE FULLY PERMITTED WITHIN LIKE SIX MONTHS IF WE KNEW THAT THAT FUNDING WAS AVAILABLE. UM, SO THAT'S ONE THAT LIKE AS SOON AS THAT MONEY WAS AVAILABLE WE COULD WE WOULD
HAVE THAT MEETING AGAIN AND REALIGN THE EXPECTATIONS BECAUSE YOU KNOW RIGHT NOW WE STILL DON'T SEE A PATH A VIABLE PATHWAY TO FUNDING FOR THAT PROJECT SPECIFICALLY.
UM AND THEN YOU KNOW, THE RENTAL PIPELINE IS IS KIND OF MORE COMPLICATED AND DEPENDS ON UM, LARGER SUMS OF MONEY FROM THE STATE AND THAT MIGHT BE THE THE BARRIER ON ADVANCING SOME OF THOSE PROJECTS FASTER
BUT ESPECIALLY ON HOMEOWNERSHIP THAT WOULDN'T NEED TO GO THROUGH THOSE LARGER LOW INCOME HOUSING TAX CREDIT UM PROCESSES THAT JUST HAVE THEIR OWN TIMESCALE. UM, YOU KNOW, I THINK WE COULD
ALL ADVANCE HOMEOWNERSHIP PROJECTS VERY QUICKLY IN, YOU KNOW, DOZENS AT A TIME. I DON'T KNOW HOW MANY SERVICES THERE ARE IN BOSTON, 15 OF US OR SOMETHING LIKE THAT. RIGHT.
IF WE ALL HAD UM, YOU KNOW, 10 TO 20 EVERY YEAR FOR YOU KNOW, WE COULD DO THAT I THINK EACH OF US PROBABLY AT LEAST FOR FIVE YEARS BEFORE WE RAN OUT OF IDEAS.
AND THAT'S THE CHALLENGE THAT. THE CREATION YEAH, THAT JUST INCLUDES. THE CREATION OF. THE PRESERVATION OR REJECTION OF SOME OF THE AFFORDABLE. HOUSING THAT YOU'RE TALKING ABOUT. SO BUT I THINK THIS SPEAKS. >> TO KENZIE'S EARLIER POINT JUST SAYING THAT THE INFRASTRUCTURE HERE IS IN PLACE
WE'RE VERY LUCKY IN BOSTON TO HAVE THE CAPACITY NOT JUST WITHIN BUT WITHIN OUR COMMUNITY ORGANIZATIONS LIKE ALL OF YOU. SO REALLY. TRULY THANK YOU. UH THANK YOU FOR YOUR TESTIMONY AGAIN. MY PLAN IS TO PUSH IT FORWARD ASAP.
SO UM. IF YOU, UH, HAVE A UH, TIME TO. EVERYBODY AND. >> WE'RE GONNA GO TO. PUBLIC TESTIMONY AFTER THIS, PLEASE CALL, UH, ALL OF YOUR CITY COUNCILORS AND THEN WHEN IT GETS UP TO THE STATE HOUSE, WE ALL NEED TO CHARGE UP THE
HILL. UM, IN A VERY FRIENDLY WAY UNTIL THE STATE HOUSE THAT. WE NEED. >> THIS AND, UM, JUST LET LET THEM KNOW EXACTLY WHAT. THE IMPACT COULD. BE. >> UH, WHICH WE'VE HEARD HERE TODAY. SO THANK YOU.
THANK YOU SO MUCH. LIKE TO STAY? PLEASE FEEL FREE. BUT WE HAVE A COUPLE OF PEOPLE LEFT ON PUBLIC TESTIMONY AND THEN WE HAVE. TWO UM ON THE PUBLIC TESTIMONY LIST HERE AND THEN WE HAVE TWO.
ON ZOOM. UH, WE'RE GOING TO GO TO A MIRROR SETTLES. UH. >> AND THEN MICHELLE DELIMA. MEREDITH LEVY AND THEN. >> LYDIA LOWE.
AND MARY, YOU HAVE THE FLOOR. HI. I'M A MIRROR. UM, I WORK UNDER HENRY SANTANA AND TODAY I'M GOING TO BE TESTIFYING ON BEHALF OF ALIANA DOVE. DOVE AND MAYOR.
I'M AN EIGHTH GRADER AT THE CONSERVATORY LAB CHARTER SCHOOL IN DORCHESTER. AND THIS IS MY TESTIMONY GOING TO BED WITH A FULL STOMACH AND A FULL FRIDGE EVERY NIGHT IS A PRIVILEGE FOR PEOPLE THAT ARE STRUGGLING WITH FOOD INSECURITY.
THIS MAY SEEM LUXURY. FOOD INSECURITY IS NOT HAVING ENOUGH MONEY TO BUY THE FOOD YOU LIKE OR NOT HAVING ENOUGH MONEY TO BUY THE FOOD IN GENERAL, SOLUTIONS LIKE SNAP BENEFITS FROM THE GOVERNMENT
ARE HELPING ENOUGH LEAVING FAMILIES TO STRUGGLE EVEN MORE. THE INCREASE IN PRICES IS CAUSING PEOPLE TO PRIORITIZE PAYING FOR OTHER THINGS OVER FOOD. FOOD INSECURITY IS INCREASING AND FAMILIES AREN'T GETTING
ENOUGH TO EAT. THIS IS BECAUSE INFLATION IS MAKING IT HARDER FOR FAMILIES TO MAKE ENDS MEET AND ALSO FEED THEMSELVES THIS CONSTANT NOT KNOWING WHERE THEIR NEXT MEAL WILL COME FROM CAN CAUSE MENTAL
AND PHYSICAL PROBLEMS LONG IN THE LONG TERM RUN. AS SOMEONE WHO HAS STRUGGLED WITH FOOD INSECURITY MY WHOLE LIFE, I CAN EXPRESS THE DIFFICULT HOW DIFFICULT IT IS TO GET PAST HAVING TO FORFEIT MEALS SPLIT MONEY JUST TO
SURVIVE ISN'T EASY. ONE THING THAT ALSO DOESN'T HELP IS WAS WITH HIGH RENT IN BOSTON. A LOT OF THE MONEY MY PARENTS MAKE GOES GOES TOWARDS RENT BECAUSE THE LANDLORD ALWAYS INCREASED THE RENT.
THIS MAKES IT HARD FOR ME TO AFFORD THINGS LIKE SHOES, CLOTHES, SUPPLIES AND SCHOOL THINGS AND MOST OF OUR FOOD THIS COST A DEMAND FOR HIGHER RENT CAUSED MY FAMILY TO MOVE OUT OF THE CITY OF BOSTON TO SOUTH QUINCY.
THIS IS VERY INCONVENIENT BECAUSE GETTING TO SCHOOL IN DORCHESTER TAKES ME AN HOUR AND 20 MINUTES VIA BUS AND TRAIN. I TAKE A TRIP TO AND FROM SCHOOL EVERY DAY AND OFTEN BECOME LATE AND TARDY BECAUSE OF THE PUBLIC TRANSIT.
TRANSIT IS NOT THAT RELIABLE. MY FAMILY RELIES ON SNAP BENEFITS SIGNIFICANTLY AND THE CUTS IN THE FUNDING HAS MADE IT HARDER FOR US TO BUY GROCERIES. SO NOW MORE THAN EVER WE REALLY ARE EXPERIENCING THE EFFECTS OF FOOD INSECURITY.
FOOD INSECURITY IS MORE COMMON THAN YOU THINK. ACCORDING TO THE ORGANIZATION FEEDING AMERICA, 1 IN 8 CHILDREN WHO STRUGGLE WITH FOOD INSECURITY AND 1 IN 9 CHILDREN STRUGGLE WITH FOOD INSECURITY.
IT IS NOT JUST WIDELY TALKED ABOUT OR ADVOCATED FOR WHICH NEEDS TO CHANGE. SO NEXT TIME YOU'RE ENJOYING A NICE WARM MEAL AND A NICE WARM NUTRITIOUS MEAL, THINK BACK TO THE PEOPLE WHO'VE ONLY GOTTEN A
FEW MEALS PER DAY. THANK YOU FOR YOUR CONSIDERATION EARLY ON A DELAVAN MAYOR. THANK YOU SO MUCH. UM WHAT WAS THE NAME OF THE INDIVIDUAL THAT YOU WERE? UM ALI ON A DIET THEN THE MAYOR. ALIANA MHM.
OKAY. THANK YOU SO MUCH FOR READING IT FOR HER. FOR HER AND THEN TO ALIANA AS WELL FOR HER TESTIMONY. UM OKAY WE'RE GOING TO GO TO MICHELLE AND THEN I MADE A MISTAKE ACTUALLY WE'RE GOING TO MARY CELESTE BROWN WHO HAD
SIGNED UP A LITTLE BIT EARLIER. SO UH TAKE IT AWAY MICHELLE OKAY. THANK YOU. >> UM I KNOW IT'S BEEN A LONG ONE, SO THANK YOU SO MUCH FOR STICKING AROUND AND GIVING ME THE OPPORTUNITY. UM, I'M MICHELLE. >> DE LIMA. I'M HERE ON BEHALF OF THE DEADLY STREET NEIGHBORHOOD INITIATIVE AND THE GREATER
BOSTON COMMUNITY LAND TRUST NETWORK. UM, DSA HAS BEEN WORKING ON AFFORDABLE HOUSING AND NEIGHBORHOOD PLANNING IN ROXBURY IN NORTH DORCHESTER FOR 40 YEARS AND OUR COMMUNITY LAND
TRUST STEWARDS 228 PERMANENTLY AFFORDABLE HOMEOWNERSHIP AND RENTAL UNITS ACROSS OUR NETWORK OF CLT IN BOSTON AND BEYOND, WHICH HAS 300 FAMILIES WITH A 127 MORE UNITS IN THE IMMEDIATE PIPELINE.
OUR MEMBER LAND TRUSTS, OUR LAND TRUST RESIDENTS, OUR STAFF AND BOARD ARE ALL IN STRONG SUPPORT OF THE TRANSFER FEE IT WOULD BRING IN MAJOR REVENUE WHILE ONLY AFFECTING A SMALL PERCENTAGE OF SALES ONES THAT
ARE PRIMARILY MADE BY REAL ESTATE INVESTORS, NOT RESIDENTS . THE REVENUE WOULD STIMULATE AFFORDABLE HOUSING PRODUCTION SUPPORT DEVELOPERS LIKE CLT AND THE LOVELY CDC AS WE HEARD FROM WHO ARE PRODUCING THE RIGHT
KINDS OF HOUSING THE HOUSING THAT OUR PEOPLE ACTUALLY NEED IT WOULD CREATE WORK FOR THE BUILDING TRADES AND MOST IMPORTANTLY GET RESIDENTS INTO THE HOMES THEY NEED AND HELP THEM STAY THERE. WE'VE HEARD A LOT ABOUT AOP SO
I WON'T GET INTO IT. UM BUT JUST TO SAY WE ARE STRONG SUPPORTERS THAT HAS FACILITATED A LOT OF THE PROJECTS THAT WE DO UM, TRYING TO KEEP PEOPLE IN THEIR HOMES AND IT'S THE BEST TOOL WE HAVE TO FIGHT DISPLACEMENT RIGHT NOW
AND WE REALLY WANT TO SEE IT SUPPORTED AND WE DON'T KNOW HOW THAT'S GOING TO HAPPEN WITHOUT THE TRANSFER FEE. UM COULD ALSO SUPPORT BOTH THE TRANSFER FEE COULD ALSO SUPPORT BOTH PROJECT BASED AND MOBILE
VOUCHERS WHICH ARE KEY TO HELPING LOW AND NO INCOME TENANTS STAY HOUSED UM AND ALSO AND IT WOULD SUPPORT THE CONSTRUCTION OF TRULY AND PERMANENTLY AFFORDABLE HOUSING
BY CLT AND OTHER VALUES BASED DEVELOPERS. WE ARE MANAGING TO ACQUIRE AND PRODUCE AFFORDABLE HOUSING WITH PRETTY LIMITED RESOURCES AND WE'RE READY TO DO SO MUCH MORE. UM, IF WE JUST HAD THE
RESOURCES AS WE'VE HEARD YOU KNOW WE HAVE THE NEED, WE HAVE THE DESIRE, WE HAVE THE CAPACITY. WE JUST NEED THE FUNDING. AND I THINK THIS IS A REALLY SMART WAY TO GET IT WHERE WE'RE TAKING A SMALL AMOUNT FROM
FOLKS WHO CAN MOST AFFORD IT AND USING IT TO PROTECT OUR MOST VULNERABLE TENANTS AND RESIDENTS. SO THANK YOU. THANK YOU VERY MUCH. >> RIGHT ON TWO MINUTES. OKAY. UM. >> MARY CELESTE. AND THEN MEREDITH LEVY AND THEN LYDIA ROSE.
THANK YOU. UNLIKE MICHELLE I'M GOING TO TALK ABOUT EOP. SORRY. >> UM, I AM MARY CELESTE BROWN AND I'M HERE ON BEHALF OF SOUTHWEST BOSTON COMMUNITY DEVELOPMENT AND. THE COMMUNITIES OF HYDE PARK. >> IN. ROSLINDALE THAT WE SERVE.
UM. IN 2017 WE WERE PROUD TO. >> BE THE. FIRST ORGANIZATION I BELIEVE. YAY! UM, TO. TAKE ADVANTAGE OF THE. ACQUISITION OPPORTUNITY PROGRAM.
AND UM. AND IN THAT INSTANCE WE SAVED EIGHT FAMILIES. UM. >> IN UM. IN A BUILDING ON AMERICAN LEGION HIGHWAY. BETWEEN 2017. >> AND 2022.
WE ACQUIRED SEVEN MORE BUILDINGS FOR. 68 UH, KEEPING 68 FAMILIES. UM, FROM LOSING. >> THEIR HOUSING IN THE SPECULATIVE MARKET BECAUSE OF THE UM.
ACQUISITION OPPORTUNITY PROGRAM. UM. >> SO YOU HAVE MY WRITTEN TESTIMONY. >> I'M GOING WAY OFF BOARD SINCE SINCE YOU'VE HEARD SO MUCH. TODAY RIGHT NOW.
WE ARE. TRYING TO REHABILITATE. THOSE UM, UH, THOSE. 68 UNITS IN THOSE EIGHT BUILDINGS. UM, ANOTHER. ASPECT BY THE. >> WAY. OF THOSE BUILDINGS MANY SENIORS
LIVE IN THEM IN ONE BUILDING OF SIX IT WAS LEASED. BY UM FAMILY AID WHEN WE BOUGHT IT FOR. >> A TRANSITIONAL HOUSING. PROGRAM FOR FOR FAMILIES WHO HAD NOT HAD HOUSING BEFORE THEN
. AND WE ARE VERY. PROUD TO. STILL BE LEASING. IT TO THEM TODAY. AND THEIR MANY OF THEIR GRADUATE GRADUATES GO INTO LONG TERM HOUSING IN OUR BUILDINGS.
NONE OF THIS WOULD BE. POSSIBLE WITHOUT THE EOP PROGRAM. AND THE FUNDING. THAT THE. MASS UM THE MAYOR'S OFFICE. ON HOUSING HAS GIVEN US. UM.
>> THOSE 68 UNITS WERE AWARDED UH BY THE STATE IN. JULY OF 2025. TO BE UM TO BE REHABBED SO THAT WE COULD LOWER THE UTILITY COSTS. >> OF.
THOSE RESIDENTS. UM. >> AND MAKE THEIR HOUSING. SAFE AND HEALTHY. RIGHT NOW BECAUSE OF THE. ECONOMIC PRESSURE, THE NATIONAL.
ECONOMIC PRESSURES, INVESTORS ARE OFFERING LESS ON THE. DOLLAR AND NOW WE HAVE. >> A GAP. AND WE CANNOT MOVE THIS. PROJECT FORWARD. I WAS WALKING IN HERE TODAY WITH CHIEF.
DILLON AND SHE SAID TO ME, YOU KNOW IN THE PAST WE'VE BEEN WE'VE HAD A. CUSHION AT THE MAYOR'S OFFICE ON HOUSING THAT WE COULD APPLY. >> TO A GAP LIKE. THIS BUT THEY DON'T THAT GAP THAT. THAT THAT.
CUSHION THEY. >> HAVE HAS NARROWED AND SO THEY HAVE BEEN VERY SUPPORTIVE OF US. THANK YOU. CHRISTINE, UM, IN OUR EFFORT TO TO WORK WITH THE STATE UM HLC
TO GET MORE FUNDING SO THAT WE CAN CONTINUE TO SAVE THESE THESE HOUSING AND THE AFFORDABILITY. OF THESE UNITS. BUT WE ARE A SMALL.
CCDC AND THAT IS AT RISK AT THIS MOMENT. WHAT THE TRANSFER. FEE WILL DO. IS IT WILL GIVE US MONEY AT A TIME WHEN ARPA HAS GONE AWAY,
WHEN YOU ALL KNOW ALL THAT I DON'T NEED. >> TO TELL YOU ALL THAT IT'S IN THE. WRITING BUT IT IS CRUCIAL AND I WISH I HEARD WHO THE PERSON WAS
THAT MICHAEL CAINE SAID WE SHOULD ALL BE GOING UP TO SEE AT BEACON HILL. TO TO CONVINCE. THEM BECAUSE THE TRANSFER FEES WE'VE HEARD THAT DOZENS
OF COMMUNITIES HAVE THEM. WE NEED EVERY COMMUNITY HAS ITS. OWN PROBLEMS AND SO BEING ABLE TO USE LOCAL.
FUNDS FOR LOCAL PROBLEMS IS WHAT WE NEED FROM THE STATE. SO I DO THANK YOU FOR SUPPORTING THIS. UH THANK YOU FOR SPONSORING THE HEARING. UM AND. THANK YOU FOR. >> GOING TO CAPITOL HILL WITH
US. AND AND ADVOCATING FOR IT. MAYBE THIS YEAR WE'LL GET IT I. HOPE SO. AT THE STATEHOUSE AND THEN ALSO UM THAT PERSON IS SENATOR NICK COLLINS. FOR THE RECORD.
THANK YOU SENATOR NICK COLLINS AND BROWNS BURGER. UH OKAY. GO TO MEREDITH. LEVY LEARY. MEREDITH LEVY THAT'S MY HANDWRITING. SORRY, SORRY.
UM GOOD MORNING. GOOD AFTERNOON. >> MY NAME IS MEREDITH LEVY. THANK YOU SO MUCH TO THE COMMITTEE FOR, UM, HOSTING THIS HEARING. IT'S REALLY VALUABLE. I'M THE EXECUTIVE DIRECTOR FOR BOSTON NEIGHBORHOOD COMMUNITY
LAND TRUST. UM, AND I'M I'M WRITING AND I'M TESTIFYING TO FOR OUR SUPPORT FOR THE HOME RULE PETITION FOR A SPECIAL LAW AND THAT TO RELATIVE TO REAL ESTATE TRANSFER FEE AND SENIOR
PROPERTY TAX RELIEF. SO AT BERKELEY. AGAIN THIS IS REPEATING. WHAT SO MANY PEOPLE HAVE SAID BUT IT'S ALSO OUR PRIORITY. OUR MISSION IS TO PURCHASE PROPERTIES IN DORCHESTER,
ROXBURY AND MATTAPAN AS A WAY TO MAKE SURE THAT PEOPLE CAN STAY IN THEIR HOMES AND IN THEIR NEIGHBORHOODS. WE DO MODEST REHABS AND MAKE SURE THESE HOMES ARE PERMANENTLY AFFORDABLE TO FAMILIES WHO OTHERWISE MAY HAVE
BEEN DISPLACED FROM THEIR BELOVED COMMUNITIES AND BY PERMANENT WE MEAN PERMANENT FOREVER. WE ARE COMMITTED TO PERMANENT AFFORDABILITY AND OUR RESIDENTS PAY NO MORE THAN A THIRD
OF THEIR INCOME ON RENT WHICH IN BOSTON IS AN ACCOMPLISHMENT. UM 78% OF OUR HOUSEHOLDS ARE BELOW 50% OF THE AMI. UM SO THAT MEANS IN OUR
BUILDINGS THE AVERAGE MONTHLY RENT PAYMENT FOR OUR FAMILIES IS UNDER $1,000. SO THAT'S A REMARKABLE THING THAT WE'RE ABLE TO DO. UM, WE KNOW IN BOSTON THERE'S A
SEVERE SHORTAGE OF HOUSING FOR LOW, VERY LOW AND EXTREMELY LOW INCOME FAMILIES. UM, OUR ORGANIZATION WHILE WE'RE SMALL WE TAKE UP THE STRATEGY TO PURCHASE BUILDINGS . >> IN. NEIGHBORHOODS WHERE RESIDENTS ARE AT HIGH RISK
OF DISPLACEMENT AND MAKE SURE THEY ARE PERMANENTLY REMOVED FROM THE SPECULATIVE MARKET. UM, AND THAT ALSO. >> THEY'RE. ABLE TO LIVE IN QUALITY HOMES WITH THE COMMUNITY GOVERNANCE SOCIAL HOUSING MODEL.
SO THIS SERVES AS AN ADDITIONAL PURPOSE FOR KEEPING THE NEIGHBORHOODS INTACT AS WELL AS MAKING SURE FAMILIES ARE ABLE TO MAKE IT. AS WE KNOW THE MARKET HERE IS RED HOT. WE'RE ONE OF THE MOST EXPENSIVE
CITIES IN THE IN THE COUNTRY AND TO BUY A BUILDING IS NO EASY TASK. AS A SMALL NONPROFIT NONPROFIT WE HAVE WE DO NOT HAVE THE ABILITY TO ACQUIRE WITHOUT PUBLIC SUBSIDY.
WE KEEP OUR BECAUSE OUR RENTS ARE LOW. THAT MEANS WE CAN'T GET BIG LOANS AND WE REALLY NEED BETWEEN THE SMALL LOANS WE GET AND THE PUBLIC SUBSIDY AND OTHER SOURCES, THAT IS THE ONLY
WAY WE'RE GOING TO BE ABLE TO BUY UM AND ALSO THE THIS THE SOFT SUBSIDIES WE GET FROM THE CITY, UM, HELP US LEVERAGE OTHER FUNDS TO MAKE THIS POSSIBLE.
SO UM THE VARIOUS FORMS WHETHER IT'S A PROJECT BASED VOUCHER OR THE SOFT LOANS THESE ARE CRITICAL. WE CAN'T DO THIS WORK WITHOUT IT. UM, ALSO THE CITY OF BOSTON'S
ACQUISITION OPPORTUNITY PROGRAM IS A PERFECT EXAMPLE OF A PROGRAM THAT THIS TRANSFER FEE COULD SUPPORT. UM, THIS HAS BEEN ESSENTIAL AS SO MANY HAVE SAID SKIPPING
FORWARD BECAUSE THAT IS CLEAR. UM, SO WE KNOW THAT UM, IF WE DIDN'T BUY THESE BUILDINGS THAT ARE AT RISK WHERE TENANTS MAYBE HAVE RECEIVED MULTIPLE EVICTION NOTICES, THEY ARE REALLY PRONE
TO BEING PURCHASED BY SPECULATIVE BUYERS AND THAT'S WHERE THE PRICES ARE DRIVE HIGHER. AND THAT NOT ONLY TAKES THAT BUILDING OUT OF THE OUT OF THE
HANDS OF OUR FOLKS WHO LIVE THERE, BUT IT ALSO LEADS TO DRIVING THE PRICES UP IN THE WHOLE NEIGHBORHOOD. SO WE KNOW THIS IS A CONSTANT PROBLEM. UM, SO THE CITY THROUGH ME HAS REALLY LANDED ON A MODEL THAT
IS CLEAR CUT, EASY TO USE AND EFFECTIVELY PROTECTS OUR FAMILIES AT RISK. IT'S A POWERHOUSE PROGRAM FOR 1300 HOMES HAVE BEEN PRESERVED IN THE LAST TEN YEARS THROUGH AOP, SO IT REALLY GIVES THE
MUSCLE TO THE ETHICAL COMMITMENT TO PROTECT VULNERABLE FAMILIES. THE AMOUNT OF FUNDING FOR AFFORDABLE HOUSING PROGRAMS AT THE CITY OF BOSTON IS SHRINKING RAPIDLY PRECISELY AT THE MOMENT WHEN THE NEED FOR THIS FUNDING
IS AT A PEAK. THE TRANSFER FEE IS AN OBVIOUS TOOL TO REFILL THE COFFERS THIS AND EVERY YEAR FORWARD TO FUND THE CRITICAL AFFORDABLE HOUSING TOOLS AND PROGRAMS IN BOSTON SUCH AS EOP, WE HAVE AN
IMPRESSIVELY TALENTED TEAM OF HOUSING PRACTITIONERS AND ADVOCATES IN THE CITY BOTH AT CITY HALL AND WITHIN THE COMMUNITY WHO HAVE ESTABLISHED VERY CLEAR HOUSING PROGRAMS THAT ARE EFFECTIVE. IT WOULD BE A SHAME TO PUT
THESE STRATEGIES AND TOOLS ON THE BACKBURNER SIMPLY BECAUSE WE DON'T HAVE THE FUNDS TO EXECUTE WITH OUR MOST VULNERABLE RESIDENTS TAKING THE DEVASTATING HIT A 10,000 TO
$20,000 HIT TO A SELLER WHO STANDS TO GAIN HUNDREDS OF THOUSANDS OF DOLLARS FROM A SALE SEEMS MORE THAN APPROPRIATE. THAT SAME NUMBER MAYBE THE ENTIRE INCOME FOR A HOUSEHOLD DURING A YEAR AND WITH STRONG AFFORDABLE HOUSING PROGRAMS IN
PLACE THESE ARE FAMILIES THAT CAN STAY IN BOSTON WITH SUPPORT. WHICH POPULATION SHOULD WE BE WORRIED ABOUT TAKING THIS HIT? WE ARE READY TO PUT THE ESSENTIAL MONEY TO WORK IN THE COMMUNITY. WE COUNT ON YOU TO MOVE THIS
PETITION FORWARD WITH EXPEDIENCY. THANK YOU. THANK YOU SO MUCH, MEREDITH. AND THEN UH, LAST BUT CERTAINLY NOT LEAST A FRIEND TO THIS CHAMBER AND, UH, AFFORDABLE
HOUSING CHAMPION LYDIA LOWE REALLY NEEDS NO INTRODUCTION. >> BUT PLEASE, I CAN. INTRODUCE YOURSELF. THANK YOU. I'M LYDIA LOWE. I'M THE EXECUTIVE. DIRECTOR OF THE CHINATOWN COMMUNITY LAND TRUST.
AND I'M GOING TO BE BRIEF BECAUSE THERE HAVE BEEN SO MUCH GOOD TESTIMONY. I DON'T HAVE A LOT OF OTHER POINTS TO ADD, BUT I JUST WANT TO STRESS THAT, UM, YOU KNOW, WE'RE NOT SEEING A LOT
OF CRANES NOW BUT PROPERTY IS STILL TRANSACTING AND UM, IN FACT IT'S THOSE YOU KNOW, BIG REAL ESTATE INVESTORS AND THOSE FLIPPERS THEY'RE THE ONES WHO
ARE REALLY, YOU KNOW, OUT THERE STILL UH, SO YOU KNOW, THIS IS REALLY I THINK OF THIS IS KIND OF LIKE A FLIPPERS TAX AND THAT'S YOU KNOW, THAT'S WHAT WE. REALLY NEED.
UM, 100 YOU KNOW, $180 MILLION. UM, THAT COULD MAKE SO MUCH DIFFERENCE. WHEN YOU KNOW. WE ALL KNOW THAT DISPLACEMENT
YOU KNOW OF, YOU KNOW, HOUSING, AFFORDABLE HOUSING, DISPLACEMENT SAVING WORKING CLASS. NEIGHBORHOODS IN THE CITY OF BOSTON IS THE TOP ISSUE IN EVERY COMMUNITY.
UH, SO I WANT TO SPEAK YOU KNOW, I THINK THAT AND THAT MONEY CAN GO TO NEW AFFORDABLE HOUSING THAT'S IN THE PIPELINE . IT CAN GO TO THE PRESERVATION OF PUBLIC HOUSING, OUR EXISTING
SUBSIDIZED HOUSING THAT WE DON'T WANT TO LOSE AND TAKING HOUSING OUT OF THE SPECULATIVE MARKET. SO UM, THE CHINATOWN COMMUNITY LAND TRUST LIKE UH, BACKED UM
IS DOING VERY. SIMILAR WORK OF TAKING HOUSING OUT OF THE SPECULATIVE MARKET. WE'VE UH BOTH UH, PRESERVED SEVEN UH, PERMANENTLY AFFORDABLE HOMEOWNERSHIP UNITS
AND ALSO UM, SIX PERMANENTLY AFFORDABLE RENTAL UNITS IN CHINATOWN TO DATE. AND THERE ARE STILL A NUMBER OF OTHER BUILDINGS THAT WE ARE WORKING ON ACQUIRING BUT YOU KNOW, CONCERNED THAT THERE
REALLY ISN'T THE CITY DOESN'T HAVE THAT FUNDING RIGHT NOW AND CITY FUNDING REALLY IS THE MAIN FUNDING TO DO THIS KIND OF WORK WITH THE ACQUISITION OPPORTUNITY PROGRAM UM, AS WELL
AS THE CITY VOUCHER PROGRAM WHICH HAS BEEN VERY SUCCESSFULLY. PAIRED BY. OUR COMMUNITY LAND TRUST WITH HOUSING THAT WE REMOVED FROM THE SPECULATIVE MARKET AND THEN ARE ABLE TO USE THE UM CITY
VOUCHER PROGRAM TO MAKE SURE WE'RE SERVING THE FAMILIES WHO ARE MOST VULNERABLE. SO OUR RENTERS ALSO YOU KNOW, OUR YOU KNOW, WAY BELOW 60%
AM-I EVEN THOUGH OUR UNITS ARE AT 60% AMI AND EVEN OUR HOME BUYERS YOU KNOW, WE HAVE UM UH, SO BEEN ABLE TO SUBSIDIZE OUR HOMES THROUGH PRIVATE FUNDRAISING IN ADDITION TO THE
CITY DOLLARS SO THAT WE'RE ABLE TO UM, HAVE HOME BUYERS, YOU KNOW, BUY THEIR HOMES AT A VERY LOW UM, PURCHASE PRICE UM, THAT THEMSELVES ARE ALSO UM, QUITE
LOW INCOME ANYWHERE FROM 40 TO 60% AMI SO I JUST WANT TO, YOU KNOW, LEND MY VOICE TO UM ALL OF THE OTHER VOICES AND SAY
PLEASE, UM, KEEP OUR SENIOR HOMEOWNERS UNSTABLE AND UM, GIVE US A A WAY TO CONTINUE, UM, PRESERVING AND BUILDING AFFORDABLE HOUSING IN BOSTON.
THANK YOU. THANK YOU SO MUCH, LYDIA. I, UM I DO WANT TO GO TO ZOOM. >> WE HAVE TWO PEOPLE. >> PHIL COHEN AND. MARC FISHER MORE. PHIL, IF YOU'RE STILL WITH US, THANK YOU FOR YOUR PATIENCE. ARE YOU ARE YOU PHIL.
I AM OKAY. YOU CAME IN PERSON. IT TOOK THAT LONG. >> I'M ACTUALLY. >> HERE IN PERSON. I WASN'T SURE IF I WAS GOING TO MAKE IT BUT THANK YOU. UH, HAPPY TO BE HERE. I WILL ALSO BE BRIEF BECAUSE SO MANY GREAT THINGS HAVE ALREADY
BEEN SAID. UM, BUT IT IS IMPOSSIBLE TO UNDERSTATE WHAT A CONSISTENT AFFORDABLE HOUSING FUNDING SOURCE WILL DO FOR THE FAMILIES OF BOSTON.
UM, IN A TIME WHERE AFFORDABLE HOUSING HAS NEVER BEEN MORE EXPENSIVE AND MORE COMPLICATED TO CONSTRUCT AND FEDERAL FUNDING SOURCES IN SPECIFIC HAVE NEVER BEEN LESS CERTAIN.
SO WE REALLY NEED THE HOUSING CERTAINTY THIS FUNDING SOURCE WILL PAY DIVIDENDS FOR GENERATIONS. IT WILL BE ABLE TO UH, HELP CREATE STABILITY FOR ELDERLY UM
FAMILIES IN BOSTON, UH, FOR CHILDREN AND FOR THE NEXT GENERATION UM, AND FOR THOSE WHO REALLY NEED IT. SO THIS DECISION TODAY OR THIS YEAR UM WILL CHANGE THE COURSE
OF HISTORY, CHANGE HOW BOSTON PROGRESSES, IMPACT AFFORDABLE HOUSING FOR FOR YEARS TO COME. UM, AND ABSOLUTELY I THINK IT'S WORTH IT. THANK YOU PHIL I SHOOT YOU AND
THEN LAST BUT NOT LEAST. I'M ACTUALLY SURE MORE IF YOU'RE STILL WITH US. THANK YOU FOR YOUR PATIENCE.
MY QUESTION. >> CAN. YOU SEE AND HEAR US? HI. >> CAN YOU GUYS HEAR ME? YES WE CAN OKAY. >> I DON'T KNOW IF YOU CAN SEE ME BUT, UH.
FEEL FREE TO UM TO OH, THERE WE GO. WE CAN SEE YOU NOW. HELLO. >> OKAY. THANK YOU. UM, HI. MY NAME IS MARK MOORE AND I WORK WITH THE BOSTON
NEIGHBORHOOD COMMUNITY LAND TRUST AND I'VE ALSO, UH, PART UH, THE SEE TAB UM, THROUGH DORCHESTER NOT FOR SALE. AND I JUST WANTED TO SAY I FEEL
LIKE I'M NOT LOOKING AT YOU GUYS, BUT I HOPE THAT I'M LOOKING STRAIGHT AT YOU. MY COMPUTER IS ALL OVER THE PLACE. UM, I JUST WANT TO SAY I WAS A PART OF ADVOCATING FOR THE HOME
RULE PETITION AND WORKED ON THIS WITH SEE TAB IN THE CITY FOR A LONG TIME. UM, AND UH, I WANT TO MAKE SURE
THAT THIS GOES THROUGH LIKE ALL OF THE THINGS THIS IS SOMETHING THAT'S REALLY NEEDED IN THE CITY OF BOSTON. UM, UH A LOT OF PEOPLE HAVE SAID A LOT OF GREAT THINGS, UM,
ABOUT LIKE HOW THIS WILL HELP, UM, ADDRESS THE AFFORDABILITY CRISIS IN BOSTON. UM, AND A LOT OF THAT IS LIKE
PRESERVATION AND ACQUISITION. UM, WE AS PART OF BEING CLT, WE DO ACQUISITIONS. UM, AND WE DO PRESERVATIONS LIKE WE TAKE HOMES OFF THE
SPECULATIVE MARKET BEFORE UM DEVELOPERS OR INVESTORS ARE ABLE TO BUY THEM UM, WHEN WE CAN AND UH AND THIS MONEY HELPS
US BE ABLE TO PRESERVE THOSE UNITS AND KEEP THEM AFFORDABLE UM, BECAUSE WE ALL SEE PEOPLE LEAVING BOSTON BECAUSE THEY CAN'T AFFORD TO BE HERE ANYMORE
OR UM, I'VE SAID THIS THE OTHER DAY YOU CAN GO RIGHT OUTSIDE AND SEE PEOPLE RIGHT OUTSIDE OF, UM WHERE YOU GUYS ARE OUT OF CITY HALL AND SEE THE HOMELESS PEOPLE WHO CAN'T
AFFORD TO UH, TO LIVE ANYWHERE IN BOSTON. SO THESE WILL HELP MAKE UNITS THAT OR UM, HELP US ACQUIRE UNITS THAT ARE AFFORDABLE AND KEEP THEM PERMANENTLY
AFFORDABLE. AND I WANT TO STRESS LIKE I'M NOT GOING TO GO INTO A WHOLE BUNCH OF THINGS THAT EVERYONE EVERYONE HAS SAID SO MUCH GREAT THINGS. I'M THE LAST ONE TO TESTIFY.
UM, BUT I WANT TO STRESS THAT THE IT'S ONLY THE FIRST $2 MILLION IS EXEMPT. SO IF YOU SELL YOUR HOUSE FOR 2.5 MILLION YOU'RE ONLY GOING
TO BE TAXED ON THAT LIKE IT'S ONLY GOING TO BE THAT 500,000 THAT YOU'RE GOING TO BE TAXED ON. IT'S NOT THE WHOLE 2 MILLION. SO IT'S NOT SOMETHING THAT'S
GOING TO BE HARMFUL TO SMALLER LANDLORDS. UM AND HOMEOWNERS UM, JUST REGULAR EVERYDAY HOME OWNERS. THIS IS TO TARGET DEVELOPERS
AND INVESTORS WHO WHO ARE GOING TO MAKE LOTS AND LOTS OF MONEY OFF OF THE CITY OF BOSTON AND IT FORCES THEM TO HAVE TO GIVE
BACK SOME BENEFIT TO THE FOLKS WHO ALL OF THIS IS GOING TO UM, EFFECT. SO I JUST WANTED TO PUT THAT OUT THERE SAY WE CAN'T LET
DEVELOPERS AND THEIR TEMPER TANTRUMS, UM, DETER US FROM USING THE FUNDING IN THE WAY UH ,GETTING FUNDING FOR IN A WAY THAT IS APPROPRIATE FOR THE
NEEDS OF THE CITY OF BOSTON. THANK YOU. THANK YOU GUYS FOR HOLDING THIS . UM AND THANK YOU FOR LETTING ME TESTIFY. THANK YOU SO MUCH. MY KESHA UH, AND I AGAIN JUST
WANT TO EXPRESS MY GRATITUDE, UH, TO EVERYONE WHO IS HERE. WE STILL EVEN HAVE A CHAIR, UM ,LISTENING IN AND, UH, THIS IS REALLY A WATERSHED AND HISTORIC MOMENT AGAIN FOR US.
I THINK IT'S MADE, UM, EVEN EVEN MORE IMPORTANT WITH THE VARIOUS. REVENUE CONVERSATIONS. >> THAT WE'RE HAVING IN THE CITY AND LACK THEREOF. UM. >> IT IS. >> MY GOAL TO MOVE THIS THROUGH COMMITTEE UH, WITH A VOTE ON WEDNESDAY. SO UM, LOOK FORWARD TO THAT
LIVELY DISCUSSION ON THE COUNCIL FLOOR. PLEASE CALL. YOUR, UH. LOCAL CITY COUNCILORS TO EXPRESS YOUR SUPPORT AS YOU HAVE DONE HERE. AND I WILL JUST. CLOSE THIS HEARING BY SAYING THAT THIS IS THE THE THE ONE
HEARING WHERE BABY SUPPORT THAT HAS BEEN MOVING. >> THE. MOST AND SO I CAN. I CAN HOPEFULLY FORESEE THAT THIS LITTLE THIS LITTLE ONE IS PROBABLY GOING TO BE AN AFFORDABLE. HOUSING ADVOCATE JUST GIVEN HOW
UM HOW LIVELY UH THEY'VE BEEN THROUGHOUT THIS ENTIRE CONVERSATION. SO I. JUST FIGURED I'D THROW. >> THAT. IN THERE. >> UM, BUT WITH THAT, UH. THIS HEARING ON DOCKET 0163 IS NOW ADJOURNED.
THANKS, EVERYBODY.