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Learn about Boston Investor Relations, including Featured News, Projects, and The Team.
This is the official investor relations page for the City of Boston. Managed by the city’s Chief Financial Officer and Senior Deputy Treasurer, the City’s Treasury division is responsible for the issuance of all bonds and the City’s investor communications efforts.
The City, incorporated as a town in 1630 and as a city in 1822, exists under Chapter 486 of the Acts of 1909 and Chapter 452 of the Acts of 1948 of The Commonwealth of Massachusetts (the “Commonwealth”) which, as amended, constitute the City’s Charter.
The Mayor is the chief executive officer of the City. Mayor Martin J. Walsh was elected to serve his first term beginning in January 2014 and was re-elected to a second term which began in January 2018. The Mayor has general supervision of and control over the City’s boards, commissions, officers, and departments. The portion of the City budget covering appropriations for all departments and operations of the City, except the School Department and the Boston Public Health Commission, is prepared under the direction of the Mayor.
The legislative body of the City is the thirteen-member City Council. The City Council enacts ordinances and adopts orders, which the Mayor may either approve or veto. Ordinances and orders, except orders for the borrowing or appropriation of money and the reorganization of City departments, may be enacted by the City Council over the Mayor’s veto by a two-thirds vote. The City Council may reject or reduce a budget submitted to it by the Mayor, but the City Council may not increase a budget.
May 7, 2018
Mayor Martin J. Walsh today announced Boston has maintained its perfect AAA bond rating, as assigned by Moody's Investor Service and S&P Global Ratings. The City has maintained the top credit ratings from both rating agencies since 2014.
According to Moody's Investor Service, Boston's AAA rating reflects the city's strong fiscal management and stable financial position, as well as its large and growing tax base with economic diversity bolstered by significant government, higher education and healthcare sectors. The rating also takes into account Boston's conservatively managed debt profile and its planning efforts with respect to its pension obligations.
"In Boston, we're committed to creating opportunities for all, and lifting up Boston's working families," said Mayor Walsh. "To do that, we need to maintain a strong fiscal foundation that allows us to invest in the programs and policies that make a difference. I'm proud Boston once again has achieved a AAA bond rating, allowing us to continue successfully planning for our city's future."
"By tackling our long-term liabilities, controlling costs and using data to drive city spending, the Mayor has prioritized strong financial management," said Emme Handy, Chief Financial Officer for the City of Boston. "This bond rating highlights our commitment to Boston's long-term prosperity as we continue to make record investments in our priorities."
S&P Global Ratings cites Boston's "very strong" economy as reason for its AAA rating. Contributing to Boston's strong economy is its talented, diverse workforce; longstanding financial and insurance industries, as well as the city's growing reputation as a tech hub; central location; and recruitment and retainment of college graduates in the city. In addition, S&P also highlighted Boston's history of proactively addressing future challenges through the city's long-term plans. Included in these highlights are Boston's Climate Action Plan, which addressing goals for reducing greenhouse emission by 2050; Climate Ready Boston, which develops resilient solutions to prepare Boston for climate change; Go Boston 2030, which aims to ensure equitable, reliable and safe transportation for all residents; and Housing a Changing City, Boston's housing plan which already is well on its way to creating 53,000 new units of housing by 2030.
These ratings build on Mayor Walsh's commitment to financial responsibility throughout the City of Boston. Over the past five years, Boston's revenue has grown by 25 percent, and the city has added 80,000 new jobs over the last four years. Boston also recently launched Boston's new investor outreach platform, BuyBostonBonds.com. The new website is the latest step in the city's continued efforts to optimize financial disclosure and is designed to drive investment in Boston's debt, which helps pay for capital projects and investments the City makes. More information about this platform and what it means for investors and residents is also available here.
Last month, Mayor Walsh presented his Fiscal Year 2019 (FY19) budget proposal, a plan that affirms a commitment to progress, opportunity and innovation by investing in Boston's neighborhoods, while building on the City's strong record of proactive fiscal management. The $3.29 billion plan builds on the Walsh Administration's commitment to accelerating progress in key areas, investing in a growing middle class through strong 21st-century schools; good jobs; affordable homes in safe neighborhoods; providing pathways to opportunities; supporting public safety for a growing city; and improving core city services to benefit all residents.
Neighborhood: Charlestown/Downtown/North End
Description: The City of Boston and the National Parks Service collaborated on a planning process to create a pedestrian and bicycle network to connect historic sites in downtown Boston. In 2013 the City was awarded a $15.5 million Transportation Investment Generating Economic Recovery (TIGER) Grant, from the United States Department of Transportation, for the design and construction of Connect Historic Boston – Phase 1. The City of Boston Public Works Department is leading a team of City departments and consultant firms to bring four of the concepts developed in the planning process to 100% design and construction:
Project Status: In construction
Estimated Project Cost: $23,000,000
Project Start: Spring 2015
Estimated Project Completion: 2018
Project Design Team:
Project Construction Team:
See http://connecthistoric-boston.org/ for more information.
Neighborhood: Charlestown/North End
Description: The Boston Public Works Department is designing a replacement for the North Washington Street Bridge (Charlestown Bridge). Sitting in the footprint and shadows of the Zakim Bunker Hill Bridge, the replacement bridge needs to complement the form and functionality of the iconic Interstate Bridge. The key aspects of the new bridge will be that it is a livable, walkable, multimodal, green and sustainable bridge, accommodating all users, pedestrians, cyclists and motorists. The design calls for wider sidewalks, gathering places, innovative accent lighting, protected bicycle facilities, and smoother walking surfaces to support the Freedom Trail.
Project Status: In design
Estimated Project Cost: $100,000,000
Estimated Project Completion: 2020
Project Design Team:
The building was constructed in 1932 and contains 18,136 SF with 3 floors and a basement and is situated on a lot size of 20,198 SF. The 1st floor has a 3 bay garage, the patrol room, and a public restroom. The living quarters are on the 2nd and 3rd floors and the basement contains mechanical equipment, storage, and a woodworking shop. The Firehouse houses Engine 2 and Ladder 19. The Firehouse is located at 680 East Fourth Street on the corner of K Street in South Boston.
The building was constructed in 1940 and contains 9,720 SF with 2 floors and a basement on a lot size of 3,816 SF. The 1st floor has a 2 bay garage, the patrol room, and a public restroom. The 2nd floor contains the living quarters and basement contains mechanical equipment and storage. The Firehouse houses Engine 3, the Special Unit (Lighting Unit). The Firehouse is located at 618 Harrison Avenue on the corner of Wareham Street in the South End.