BOSTON-In a move sure to rankle developers looking to build, the Boston city council approved a measure that would raise linkage fees developers are required to pay on projects being built here. This is the first time the linkage fees have been raised in 14 years.

Linkage fees, which were established in 1987, are payments developers pay to the city to compensate for the disruption that building their projects may cause. The funds go to build affordable housing and develop job-training programs. Until now those payments have been approximately $5 per sf for affordable housing and $1 per sf for job training. City Mayor Thomas M. Menino had tried to raise the linkage fees last year but a controversy over linkage fees from development on the waterfront–which had been largely benefiting south Boston because of a side deal made on behalf of the neighborhood with developers–made it difficult to get that approved.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.