$270,005,000 — Negotiated Sale
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$270,005,000 — Negotiated Sale
Mayor Martin J. Walsh today announced the launch of three new funds totaling $6.3 million that will support small businesses within the City of Boston that have been affected by COVID-19, focusing on commercial rent relief, supporting certified women, minority, and veteran owned small businesses, and restaurant payroll and rental relief. Since the beginning of the COVID-19 pandemic, the City of Boston has allocated more than $15 million toward direct grants to small businesses.
As the City of Boston continues to lead nationally on urgent climate action, Climate Mayors today announced that Mayor Martin J. Walsh has been named Chair of the coalition of 468 U.S. mayors committed to bold environmental action and upholding the Paris Climate Agreement. In this role, Mayor Walsh will help catalyze efforts to combat climate change at the local level, provide an example of climate action for leaders at all levels of government, and advocate for an economic recovery founded in equity and environmental stewardship. Mayor Walsh succeeds Los Angeles Mayor Eric Garcetti, who founded Climate Mayors, and has also served as the network's Chair since its launch in 2014.
Building on his Resilient Boston Harbor plan to enhance Boston’s waterfront and protect vulnerable neighborhoods from s ea level rise and coastal flooding due to climate change, Mayor Martin J. Walsh today released two reports, "Coastal Resilience Solutions for Downtown Boston and North End" and "Coastal Resilience Solutions for Dorchester" . The reports are rooted in Imagine Boston 2030 and advance the work of Climate Ready Boston, the City’s initiative to develop solutions to prepare Boston for the impacts of climate change. The strategies presented in each report outline a roadmap for near- and long-term solutions to protect from coastal flooding, increase access and open space along the waterfront, and enhance the public-private collaboration necessary for stakeholders in each neighborhood required for successful transformation and protection.
Mayor Martin J. Walsh today announced the reopening of applications for the Rental Relief Fund, created in early April to help Boston residents at risk of losing their housing due to the COVID-19 pandemic. The Fund reopened with $5 million available to help residents pay their rent following the end of the statewide moratorium on evictions and foreclosures on October 17. Over the last six months, the Fund distributed more than $3 million in payments to landlords on behalf of more than 1,000 households. More than fifty percent of the households that have been awarded funds earn less than $58,000 per year with two income earners. Qualified residents interested in applying to this round of funding can submit their application online, available in 11 languages.
Mayor Martin J. Walsh today announced he has proposed an order that will allow the City of Boston to participate in the Massachusetts Commercial Property Assessed Clean Energy Program (PACE), a tax-based financing mechanism that enables low-cost, long-term funding for energy improvements in existing commercial, industrial, nonprofit, and multifamily buildings with five or more units. By adopting this program, the City of Boston is building on the strategies identified in the 2019 Climate Action Plan to accelerate decarbonization in the city's largest buildings and achieve carbon neutrality by 2050.
Mayor Walsh announced today that the City of Boston is celebrating national Energy Efficiency Day. Read the proclamation. Energy efficiency is critical to achieve Mayor Walsh’s commitment to carbon neutrality by 2050 and protect Boston and its communities from the effects of climate change. Energy efficiency creates jobs, saves money, and decreases pollution. It is necessary to achieve carbon neutrality by 2050 and work toward a healthy, climate resilient, and thriving Boston.
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.