In a speech at the annual meeting of the Boston Municipal Research Bureau, Menino also said he would propose legislation with House speaker Thomas Finneran to create a "not-for profit entity to plan, manage, maintain and operate the open space." If the legislation passes, the entity would end years of wrangling between the city and the state over who gets control of this valuable piece of real estate in the heart of the city.

In his speech, Menino said that the open space should be accessible to everyone and managed by a "broad-based" organization. The entity he is proposing would have three components: a board of trustees that would be appointed by the Speaker, the Senate president, the Governor and the mayor and would have fiduciary responsibility for the organization; a board of directors that would comprise representatives from a number of interested parties including the Artery Business Committee, the Boston Society of Architects, the Greenspace Alliance, the Massachusetts Horticultural Society and organized labor; and an advisory group that would direct matters of policy.

Perhaps potentially more controversial is Menino's plan to fund this endeavor. He proposes creating a "special taxing zone" in which "abutters and others who will benefit most" will pay a real estate tax. This includes business properties from South Station to North Station and from the waterfront to City Hall. A representative from the mayor's office tells GlobeSt.com that the exact amount businesses will be expected to pay is still unclear. Residential properties will be exempted from the tax.