"City in talks over subsidies for Lovejoy Wharf" by Casey Ross | Globe Staff, January 04, 2013
Mayor Thomas M. Menino’s administration is moving to give public funds to the developers of a luxury residential, office, and retail complex next to the TD Garden.
Boston officials on Thursday acknowledged that discussions are underway to provide a tax break or other subsidy to the massive Lovejoy Wharf complex. But even though the Boston Redevelopment Authority approved the project last month, and granted a designation to make it eligible for public funds, the Menino administration would not provide details on the type or amount of assistance under consideration....
Public assistance for such projects reduces developers’ construction costs and may also translate into lower rents for tenants such as Converse. The sports apparel company, now based in North Andover, is owned by Nike Inc., which reported revenue of $24.1 billion in its last fiscal year....
Do they really need a tax break at public expense while we are chewing on austerity out here?
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Related: Boston gives tax breaks to build Lovejoy Wharf
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