REALLY COLLETTE IS A PART OF DISTRICT ONE CITY COUNCILOR AND I'M THE CHAIR OF THE BOSTON CITY COUNCIL COMMITTEE ON GOVERNMENT . TODAY IS MAY 30TH, 2024.  THIS HEARING IS BEING RECORDED. IT IS ALSO BEING LIVESTREAMED AT BOSTON DARK OF FORWARD SLASH CITY COUNCIL ME AND BROADCASTED ON XFINITY CHANNEL EIGHT RCN CHANNEL 82 FIREHOUSE CHANNEL NINE SIX FOR ATTENDANCE IN ACCORDANCE WITH CHAPTER TWO OF THE ACTS OF 2021 MODIFYING CERTAIN REQUIREMENTS OF THE OPEN MEETING LAW AND RELIEVING PUBLIC BODIES OF CERTAIN REQUIREMENTS THE REQUIREMENT THAT PUBLIC BODIES CONDUCT ITS MEETINGS IN A PUBLIC PLACE THAT IS OPEN AND PHYSICALLY ACCESSIBLE TO THE PUBLIC.  THE CITY COUNCIL WILL BE CONDUCTING THIS HEARING REMOTELY.  THIS ENABLES THE CITY COUNCIL TO CARRY OUT ITS RESPONSIBILITIES WHILE ENSURING PUBLIC ACCESS TO ITS DELIBERATIONS THROUGH ADEQUATE ALTERNATIVE MEANS. WRITTEN COMMENTS MAY BE SENT TO THE COMMITTEE EMAIL AT TCC AT BOSTON DARK OF AND WILL BE MADE A PART OF THE RECORD AND AVAILABLE TO ALL COUNCILORS TAMMANY WILL BE TAKING AT THE BEGINNING OF THIS HEARING AND AT THE END OF THIS HEARING. IF YOU ARE INTERESTED IN TESTIFYING PLEASE EMAIL OUR ESSENTIAL STAFF LIAISON. MEGAN CAVANAUGH AT AN EEG AND DOT CALLY AND HGH.  BOSTON.COM FOR THE LINK IN HER NAME WILL BE ADDED TO THE LIST. TODAY'S HEARING IS ON DOCKET 064 TO MESSAGE IN ORDER FOR YOUR APPROVAL OF A PETITION TO THE GENERAL COURT ENTITLED TO PETITION FOR A SPECIAL LAW REGARDING AN ACT RELATIVE RELATIVE TO PROPERTY TAX CLASSIFICATION AND THE CITY OF BOSTON AS WAS FILED IN THE OFFICE OF THE CITY CLERK ON APRIL 1ST, 2024.  THE MATTER WAS SPONSORED BY THE ADMINISTRATION AND WAS REFERRED TO THE COMMITTEE ON APRIL 3RD. TODAY I AM JOINED BY MY COLLEAGUES IN ORDER OF ARRIVAL COUNCIL PRESIDENT ROSIE LOUIJEUNE COUNCILOR ENRIQUE PATTON, COUNCILOR HENRY SANTANA . COUNCILOR LIZ BRADING AND FITZGERALD COUNCILOR JULIA HERE. SO TONYA FERNANDEZ ANDERSON, COUNCILOR ED MURPHY AND COUNCILOR AARON MURPHY. SO WE ARE GOING BE SEEING THAT THIS IS THE SECOND HEARING WE'RE GOING TO FOREGO OPENING.  I DO JUST HAVE A QUICK INTRODUCTION DESCRIBING THIS THIS PIECE OF LEGISLATION AND THE PROCESS THAT HAS LED US TO TODAY. SO DOCKET 0642 IS A HOMEOWNER PETITION SUBMITTED BY MAYOR WORD TO CITY COUNCIL TO CHANGE BOSTON'S PROPERTY TAX CLASSIFICATION STRUCTURE FOR A FIVE YEAR PERIOD. THIS BILL WOULD TEMPORARILY ALLOW BOSTON TO REDUCE THE RESIDENTIAL SHARE OF THE LEVY FROM ITS CURRENT 50% TO 45% OF ITS FULL VALUATION AND INCREASE THE BUSINESS SHARE FROM 175% TO 200% OF ITS FULL VARIATION, THEREBY SHIFTING MORE OF THE BURDEN ON BOSTON TAX BILLS TO PROPERTIES. THIS HOMEOWNER PETITION SEEKS TO REGULATE THE PROPERTY TAX CLASSIFICATION LIMITS IN THE CITY TO INCREASE THE PERCENTAGE OF TAX BURDEN THAT MAY BE SHIFTED TO COMMERCIAL AND INDUSTRIAL PROPERTIES OTHERWISE KNOWN AS C IP AND LABELED AS CLASS THREE AND FOUR PROPERTIES. IF THE CURRENT MINIMUM OF THE RESIDENTIAL FACTOR WOULD RESULT IN RESIDENTIAL AN OPEN SPACE OTHERWISE KNOWN AS ARO PROPERTIES LABELED AS CLASS ONE AND TWO PAYING A HIGHER PERCENTAGE OF THE TOTAL PROPERTY OPERATING TAX LEVY THAN WHAT THEY PAID THE YEAR PRIOR.  I'VE ALREADY STATED THAT I'M GENERALLY SUPPORTIVE OF PROVIDING A SOFT LANDING FOR RESIDENTS AND PROTECTING THEM FROM A POTENTIAL $900 INCREASE IN THEIR PROPERTY TAX BILL IN ONE QUARTER. I FORESEE THE MAIN BENEFICIARIES OF THIS PROPOSAL TO BE INDIVIDUALS WHO OWN PROPERTY THAT ARE HOUSE RICH AND CASH POOR LIKE MANY OF OUR SENIORS AND TENANTS RENTING WITHIN SMALLER PROPERTIES IN BOSTON. DESPITE THIS I'M STILL CONCERNED THAT ADDITIONAL TAXES ESPECIALLY ON SMALLER COMMERCIAL PROPERTY OWNERS AND SMALL BUSINESSES WHETHER WILL UNINTENTIONALLY STIFLE UNNECESSARY ECONOMIC GROWTH IN OUR CITY AND HURT OUR SMALL BUSINESSES. WE MUST CONSIDER THE LONG TERM IMPACTS OF OUR CHANGING ECONOMY AND IMPACTS THE PANDEMIC HAS HAD ON WORKPLACE VACANCIES AND TENANCIES AND TENANCIES. BOSTON MUST PRIORITIZE ADDITIONAL SOURCES OF REVENUE AS WELL AS PART OF A SUITE OF SOLUTIONS FOR A LONG TERM PLAN. WE'VE ALREADY HAD ONE HEARING IN THIS COMMITTEE WHERE WE HEARD FROM THE ADMINISTRATION VIA THE CFO AND COMMISSIONER OF ASSESSING AND WE'LL HEAR FROM THEM. IN THE LAST PANEL ALMOST AS A RESPONSE TO WHAT OCCURRED TODAY AND IN THAT FIRST HEARING THEY OUTLINED THE CONTENTS OF THIS PROPOSAL AND EXPLANATION AS TO WHY THEY BELIEVE IN THE URGENCY OF NOW TO MOVE US FORWARD. I'VE DECIDED TO HAVE A SECOND HEARING WITHIN THIS COMMITTEE GIVEN THE SWEEPING AND CONSEQUENTIAL IMPACTS THIS PROPOSAL WILL HAVE ON OUR CITY. ADDITIONALLY, RECENT REPORTS FROM THE BOSTON MUNICIPAL RESEARCH BUREAU AND OTHER INPUT FROM VARIOUS REAL ESTATE ORGANIZATIONS HAVE ADDED COMPLEX LAYERS GIVEN THEIR RECOMMENDATIONS TO REVIEW AND CONSIDER. IT IS OUR RESPONSIBILITY AS THE LEGISLATIVE BODY IN BOSTON TO TAKE A CLOSER LOOK AT THESE POTENTIAL IMPACTS TO BOTH RESIDENTIAL TAXPAYERS AND COMMERCIAL PROPERTY OWNERS AND THE SMALL BUSINESSES THE MOM AND POP SHOPS THAT OCCUPY THE SPACES. THE MAIN PURPOSE OF THIS HEARING IS TO ENSURE THAT THERE IS A WIDE ARRAY OF COMMUNITY INPUT AND ROBUST INFORMATION GATHERING ON THE SPECIAL LOT THAT IS BEFORE US TODAY. I LOOK FORWARD TO HEARING FROM A COMMUNITY PANEL HOME OWNERSHIP PANEL UNION PANEL, A REAL ESTATE PANEL AS WELL AS THE RESPONSES FROM THE ADMINISTRATION. AND JUST QUICKLY GOING THROUGH THE AGENDA FOR MY COUNCIL COLLEAGUES, WE DO HAVE THAT COMMUNITY PANEL WITH PUBLIC TESTIMONY.  WE ALSO HAVE THE HOME OWNERSHIP PANEL THAT INCLUDES FOLKS FROM FOR BOSTON COMMUNITY'S URBAN EDGE AND THEN THE UNIONS. AND THEN THAT'S WHEN WE'LL GET INTO COUNCILOR QUESTIONS FOR 5 MINUTES PER COUNCILOR . AND THEN FOLLOWING THAT WE'LL HEAR FROM THE REAL ESTATE PANEL WHICH INCLUDES AT WILL ALSO INCLUDES THE BOSTON MUNICIPAL RESEARCH BUREAU AND THEN ALSO THE ADMINISTRATION PANEL AND THEN FOLLOWING THAT WE'LL HAVE A SECOND ROUND OF QUESTIONING FOR THOSE TWO PANELS. AND THEN YOU'LL ALSO GET 5 MINUTES EACH FOR THAT. I WILL JUST REMIND MY COLLEAGUES AND FOLKS IN ATTENDANCE THAT ARE GIVING TESTIMONY. WE DO HAVE A WAYS AND MEANS HEARING AT 2 P.M. AND SO I WILL BE KEEPING A STRICT TIME LIMIT ON TESTIMONY AND QUESTIONS.  UNDERSTANDING THAT YOU HAVE 5 MINUTES TO ASK THESE QUESTIONS TO FOLKS PLEASE PLAN ACCORDINGLY. SO WITH THAT I WILL MAKE SURE FOR CENTRAL STAFF THAT WE HAVE LIZZIE TORRES, SHIRLEY JONES, TOM COONAN, AARON BAILEY I BELIEVE ALEX TO FONZO AND ANOTHER INDIVIDUAL WHO IS ALREADY SIGNED UP FOR PUBLIC TESTIMONY TO BE ELEVATED AS PANELISTS AND BECAUSE SHE'S FIRST ON MY LIST I'LL CALL LIZZIE TORRES TO PROVIDE HER TESTIMONY IN THIS MOMENT IN TIME. LIZZIE, YOU HAVE YOU HAVE FOUR . ALL RIGHT, I'LL GO SO THANK YOU SO MUCH, EVERYBODY. THANK YOU TO THE BOSTON CITY COUNCIL FOR TAKING THIS SO SERIOUSLY AND THANK YOU SO MUCH TO COUNCILOR CLAUDE AS A PRODUCT FOR TAKING THIS SO SERIOUSLY AND MAKING SURE THAT WE GET ALL OF THE FEEDBACK NECESSARY FOR IT. I AM HERE TO NAME MY SUPPORT FOR THIS BECAUSE I AM CONCERNED ABOUT HOW THE HOUSING CRISIS IS BEING IMPACTED BY THIS PARTICULAR BUDGET BY THIS PARTICULAR TIME AND RECLASSIFICATION OF THE TAX BURDEN IS GOING TO BE AN INTEGRAL PART OF MAKING SURE THAT HOUSING STABILITY IS STILL SOMETHING THAT WE HAVE AS A GOAL AND SOMETHING THAT WE AS A COMMUNITY TAKE VERY SERIOUSLY AND THE WAY THAT OUR TAX CLASSIFICATION WORKS IS UNFORTUNATELY IT MEANS THAT THE BURDEN HAS TO BE SHIFTED SOMEWHERE AND I CANNOT FIND ANY REASON WHY KEEPING THE BURDEN ON HOMEOWNERS RENTERS AND FOLKS WHO ARE CURRENTLY STRUGGLING WITH THEIR HOUSING TO HAVE TO TAKE ON THAT BURDEN WHEN THE BUSINESS COMMUNITY ABSOLUTELY HAS TOOLS AND MECHANISMS THAT ARE FLEXIBLE FOR THEM IN ORDER TO CONTINUE OPERATING AND EVERYTHING LIKE THAT AND I HAVE GREAT FAITH THAT WE WILL FIND A WAY TO MAKE SURE THAT WE CAN KEEP OUR ECONOMY GOING AND FIND ALL SORTS OF SOLUTIONS. I ALSO HAVE TO SAY THE ONE THING THAT I WHEN I LOOKED INTO THIS POLICY IS THAT THIS A SIMILAR POLICY WAS ACTUALLY DONE IN 2008 FOR A VERY SIMILAR TIME PERIOD AND I THINK THAT THAT HAS BEEN MISSED A LOT IN THE CONVERSATION AND BOSTON BOUNCED BACK FROM THE 2008 RECESSION IN A WAY THAT MANY OTHER CITIES MY HOMETOWN OF ORLANDO AS A GREAT EXAMPLE OF IT I DID NOT AND IT IS BECAUSE THAT THERE WERE NOT ANY PREVENTATIVE MEASURES THAT WERE YOU KNOW, GIVEN THE FORESIGHT AND GIVEN THE CARE FOR HOMEOWNERS AND CURRENT HOMEOWNERS AND NEW HOMEOWNERS ESPECIALLY WHO ARE ALREADY BURDENED WITH HOUSING COSTS AND MAINTENANCE AND EVERYTHING LIKE THAT THAT THIS IS ACTUALLY ATTEMPTING TO PROACTIVELY SOLVE AND I'M ACTUALLY REALLY EXCITED TO SAY THAT I THINK THIS IS A REALLY GOOD PROACTIVE POLICY THAT'S GOING TO BE REALLY BENEFICIAL FOR THE NEXT FIVE YEARS AND HOPEFULLY A TIME PERIOD WHERE VERY FEW PEOPLE ACTUALLY NOTICE IT. SO I WANT TO THANK THE COUNCIL FOR TAKING THIS SERIOUSLY AND I WANT TO THANK THE ADMINISTRATION FOR TAKING THAT SERIOUSLY AND THOSE WILL BE MY COMMENTS FOR THIS.  THANK YOU. LIZZIE ALLSTON RESIDENT.  WE NOW HAVE SHIRLEY JONES, PRESIDENT OF LEADING HOUSEHOLD . SHIRLEY, YOU HAVE THE BOARD.  YOU ARE MUTED SHIRLEY DEFINITELY BE ME . I WANTED TO SAY GOOD MORNING TO EVERYONE. THANK YOU FOR THIS OPPORTUNITY. I TAKE GREAT PRIDE IN BEING A PART OF THIS COMMUNITY, THIS CITY AND I JUST WANTED TO INTRODUCE MYSELF. I AM THE CURRENT PRESIDENT OF MEETINGHOUSE HILL CIVIC. I'M A COMMUNITY ACTIVIST. I'M VERY INVOLVED IN THE COMMUNITY IN BOSTON NOT JUST MY MEETINGHOUSE HILL CIVIC BUT VARIOUS COMMUNITIES AROUND THIS CITY AND I HAVE THE OPPORTUNITY OF KNOWING THAT THIS HOUSING TAX WILL DEFINITELY MOVE A LOT OF OUR FAMILIES OUT IF THIS ISN'T DONE A PRODUCTIVE WAY LIKE HOW THE MAYOR IS PLANNING TO DO IT. SO I'M DEFINITELY DEFINITELY IN SUPPORT OF HER FIVE YEAR PLAN TO DECREASE THE TAXES NOT DECREASE TAXES BUT TO NOT ALLOW THE INCREASE BECAUSE THE TAXES HAVE TO BE INCREASED IN ORDER FOR US TO DO WHAT WE NEED TO DO TO KEEP OUR CITY THE GREAT CITY THAT IT IS BUT IT WON'T TAKE THE THE HOME RESIDENTS WON'T HAVE SUCH A TOUGH BURDEN TO CARRY AND I SAY THAT BECAUSE I'M A SENIOR I'M VERY ACTIVE AS AN ASSET IN THE COMMUNITY. I'M ON A FIXED INCOME AND A DRASTIC DRASTIC TAX INCREASE WOULD NOT PUT ME IN A GOOD FINANCIAL STANDINGS. I'M BLESSED TO HAVE THREE BEAUTIFUL GRANDCHILDREN. OF COURSE EVERYBODY ON THIS PANEL PROBABLY ALREADY KNOW DAKOTA, B.J. AND LEVI AND I WANT THEM TO STAY IN THIS CITY. I WANT US AS A FAMILY TO STAY HERE TO BE ABLE TO STRIVE HERE AND DECREASE IT WELL, I LIKE TO SAY DECREASE AGAIN I HAVE TO TAKE THAT OUT OF MY VOCABULARY BECAUSE THAT'S NOT THE PRESERVE THE DEVASTATION OF SUCH A GREAT INCREASE WHAT REALLY BRING A SERIOUS BURDEN ON MY FAMILY AND MY COMMUNITY SO AGAIN, I'M SO IN FAVOR AND JUST BEING AROUND I'M ON THE MAIN STREET BOARD SO WITH THE MEETINGHOUSE HILL CIVIC I SEE RESIDENTS HERE WE HAVE A COMMUNITY, IT'S A LOVING COMMUNITY. WE WANT TO KEEP US ALL HERE AND AGAIN I THANK YOU. I THANK YOU MAYOR WALL BUT TAKEN THEY APPROACH TO BRING ABOUT THIS PLAN THIS FIVE YEAR PLAN TO KEEP US HOME ALL HERE I DO HAVE THE OPPORTUNITY OF HAVING TENANTS I HAVE TENANTS AND BY THE TAXES NOT INCREASING DRASTICALLY WOULD ALLOW ME TO DECREASE IS WHAT I WOULD CHARGE MY TENANTS.  BUT IF I HAD IMAGINED IF I HAD SUCH A DRASTIC INCREASE IN MY TAX THEN I WOULD HAVE TO PASS THAT BURDEN ON TO MY TO MY RENTERS AND THAT I DON'T WANT TO DO I JUST WANT US ALL TO BE ABLE TO STAY HERE AS THEY ARE IN OUR COMMUNITIES AND OUR HOMES AND JUST CONTINUE TO ENJOY BOSTON AND ALL THE WONDERFUL THINGS THAT'S HAPPENING HERE AND I'M SO SO SO MUCH AND SUPPORT WHAT OUR MAYOR IS PROPOSING. THANK YOU FOR THIS OPPORTUNITY. GOD BLESS YOU ALL. SEE YOU ALL UP SUNDAY.  THANK YOU SO MUCH FOR YOUR TESTIMONY, MS.. JONES AND IT'S COME TO MY ATTENTION THAT I MISLABELED COUNCILOR FLYNN.  SO COUNCILOR QUINN IS HERE AND I APOLOGIZED PROFUSELY NEXT UP WE HAVE MY FRIEND FROM CHARLESTOWN, MR TOM COONAN, WHO IS THE CHAIR OF THE CHARLESTOWN NEIGHBORHOOD COUNCIL . TOMMY AND I HAVE BEFORE YOU'RE ON YOUR TIME, TOM, YOU ARE STILL ON YOUR HE'S BEEN BACK UP THERE.  THERE WE GO. YEAH. OKAY. THANK YOU.  I JUST WANT TO FIRST TAKE THE CITY COUNCIL AS FOR TAKING THE TIME TO LISTEN TO THE TO THE MY MY COMMUNITY AND COMMUNITIES LIKE MYSELF THE NEIGHBORHOODS ARE IMPORTANT AND I'M IN SUPPORT OF MAYOR WU FIVE YEAR PLAN MAINLY BECAUSE I GREW UP I GREW UP ON MY NEIGHBORHOOD AND I'VE LIVED HERE ALL OF MY LIFE AND I SEE FRIENDS AND RELATIVES AND OLDER MEMBERS OF MY COMMUNITY LIKE MYSELF HAVING TO MOVE OUT BECAUSE THEY JUST CAN'T AFFORD TO STAY AND GET A TAX INCREASE OF 16 AND A HALF PER CENT AS QUOTED BY THE MUNICIPAL RESEARCH BUREAU SCARES THE HECK OUT OF ME. I THINK A LOT OF PEOPLE WOULD HAVE TO GET OUT FROM UNDER AS YOU WELL KNOW EVERY NEIGHBORHOOD IN THE CITY IS IS BEING GENTRIFIED AND ALL WELL AND GOOD. I WELCOME NEW RESIDENTS BUT I REALLY HAVE A CONCERN THAT THE RESIDENTS WHO HAVE BUILT BOSTON AS TO WHAT IT IS IT HAD DEALT WITH A LOT OF CONCERNS AND ISSUES OVER THE YEARS. I DON'T WANT THEM TO HAVE TO LEAVE BECAUSE WE DON'T PROTECT THEIR INCOMES BECAUSE OF TAXES . THIS IS NOT A PERFECT PLAN BUT IT SURE AS HECK IS A GREAT STEP IN THE RIGHT DIRECTION.  I'M HOPING THAT WE CAN SLIDE INTO MOM AND POP STORE RELIEF BUT IT'S IMPORTANT THAT YOU UNDERSTAND THAT THERE ARE PEOPLE IN MY NEIGHBORHOOD THAT ARE BARELY HANGING ON IN ANY KIND OF A MASSIVE TAX INCREASE OVER THE NEXT ONE OR TWO YEARS WOULD PROBABLY HAVE TO MAKE THEM SELL AND LEAVE THEIR LEAVE THEIR THEIR HOMES AND THAT'S REALLY SCARY TO ME . I THINK THE AWU HAS AND HIS STAFF HAVE LOOKED AT THIS IN A CONSTRUCTIVE MANNER.  I BELIEVE THERE'LL BE A LOT OF QUESTIONS IN THE END THERE'LL BE A LOT OF CONCERNS AND ISSUES THAT ARE DEALT WITH. THAT'S WHY WE HAVE SUCH A GOOD CITY COUNCIL BECAUSE THEY DON'T THEY DON'T DUCK WHEN IT COMES DOWN TO ASKING HARD QUESTIONS BUT IN CHARLESTOWN I THINK IT WOULD BE A GOOD THING RIGHT NOW THAT WE START TO MAKE PROCESS SAYING THIS IS WHAT THE TAX RATE WILL BE, THIS IS HOW IT WILL BE ADJUSTED AND UNFORTUNATELY LEIGH, YOU'RE FOR SOME BIG COMMERCIAL SITUATIONS DO IT THERE ARE IN DIRE NEED BUT RIGHT NOW I DON'T WANT PEOPLE TO LEAVE MY COMMUNITY.  IT'S VERY IMPORTANT. AND THE OTHER THING IS I THOUGHT THAT THIS WAS LOOKED AT IN A PRETTY GOOD MANNER. I READ IT PRETTY WELL AGAIN, LIKE ANY LEGISLATION IT'S NOT PERFECT BUT IT DOES HAVE TO BE VETTED OUT. BUT I THINK THIS IS THE FIRST BIG STEP TO ENSURE THAT PEOPLE WHO WANT TO STAY IN THEIR COMMUNITY FOR THE REST OF THEIR LIVES CAN DO SO. AND I REALLY APPRECIATE YOUR TIME AND I APPRECIATE THE WORK THAT YOU'LL BE DOING ON THIS. THANK YOU VERY MUCH.  THANK YOU FOR YOUR TESTIMONY MY TIME. IT'S GREAT TO SEE YOU. NEXT COUPLE HAVE THANK YOU. NEXT UP WE'LL HAVE ERIN BAILEY WHO IS A JAMAICA PLAIN RESIDENT AND THEN ALISTER BROWN'S OUR EAST COAST RESIDENT. GOOD MORNING, EVERYONE. THANK YOU SO MUCH FOR THE OPPORTUNITY TO SPEAK ON THIS TOPIC. THANK YOU.  COUNCIL PRESIDENT C LOUIJEUNE THANK YOU COUNCILORS. THANK YOU GABRIELLA FOR TAKING THIS OPPORTUNITY TO SPEAK WITH US. I'M IN COMPLETE SUPPORT OF THIS MEASURE.  I AM A LANDLORD IN JAMAICA PLAIN AND YOU KNOW MY TWO RESIDENTS ARE ACTUAL PUBLIC SERVANTS THEMSELVES. ONE WORKS FOR THE STATE OF MASSACHUSETTS AND ONE IS A FEDERAL EMPLOYEE AND I RECEIVED AN EMAIL YOU KNOW, AS AS THE RENT RENEWAL LETTERS THE LEASE RENEWAL IS UP SAYING, YOU KNOW, WE CAN'T AFFORD A DRASTIC INCREASE IN RENT. WE'RE PUBLIC SERVANTS, WE WILL BE DISPLACED. IT WILL BE AN UNDUE BURDEN. SO I KNOW FIRSTHAND HOW CONCERNED TENANTS ARE AND HOW CONCERNED LANDLORDS ARE AND I'VE SEEN TWO FRIENDS OF MINE WHICH ARE COUPLES THAT HAVE HAD TO MOVE OUT OF BOSTON WITHIN THE LAST 12 MONTHS DUE TO UNAFFORDABLE PRICES.  MY CONCERN IS COMPOUNDED BY THE FACT THAT LANDLORDS AND HOMEOWNERS ARE ALSO SEEING AN INCREASE IN THEIR HOME INSURANCE PREMIUMS. THEY'RE SKYROCKETING THROUGH THE ROOF. THERE'S BEEN MULTIPLE ARTICLES ON THIS EVEN OUR NEIGHBORHOOD ASSOCIATION THE EVERGREEN COUNTY NEIGHBORHOOD ASSOCIATION OF WHICH I'M THE PRESIDENT IT'S BEEN A CONCERN THAT'S COME UP AT OUR NEIGHBORHOOD MEETINGS OF HOW DO WE ABSORB THE COST OF INCREASED TAXES AND THEN INCREASE HOME INSURANCE PREMIUMS. I FEEL COMFORTABLE WITH THIS MEASURE BECAUSE IT'S ON A TIME IT'S ON A FIVE YEAR TIMELINE AND WE WANT TO KEEP BOSTON COMPETITIVE RIGHT?  SO WE DON'T WANT TO OVERBURDEN BUSINESSES IN COMMERCIAL RESIDENTS IN THE CITY BY MAKING BOSTON SO ATTRACTIVE THAT THEY FLEE. BUT IN THE SAME SET IN THE SAME TOKEN WE NEED TO MAKE SURE THAT THEY HAVE TALENT AND THE TALENT THAT THEY POTENTIALLY BRING TO BOSTON STAYS AND THAT THEY DON'T FLEE BECAUSE OF THE HIGH PRICES. SO I JUST WANTED TO SAY THAT THERE'S ALSO OTHER CONSIDERATIONS INSTEAD OF RAISING YOU KNOW, IF YOU KNOW, COMMERCIAL TENANTS ARE CONCERNED ABOUT THEIR TAXES RAISING, THERE'S ALL SORTS OF ABATEMENTS THAT CAN BE OFFERED TO THEM CARBON CREDITS LEASING, LAND LEASING I'VE SEEN DIFFERENT TACTICS USED. I USED TO WORK FOR THE CITY OF PHILADELPHIA SO I'VE SEEN THE CREATIVE WAYS THAT THIS CAN HAPPEN. SO THAT WILL WRAP UP MY TESTIMONY IF I IF I SLURRED A LITTLE I HAD SOME DENTAL WORK DONE THIS MORNING SO PLEASE FORGIVE ME IF THERE WAS ANYTHING THAT WASN'T UNDERSTOOD. I'M GOING TO GO OFF CAMERA BUT IF YOU HAVE ANY QUESTIONS I'D BE HAPPY TO ANSWER THEM NOW OFFLINE. THANK YOU SO MUCH EVERYONE. I APPRECIATE YOUR TIME.  THANK YOU FOR YOUR TIME AND STILL JOINING US EVEN THOUGH YOU HAD A DENTAL APPOINTMENT THIS MORNING AND WE'RE VERY APPRECIATIVE.  NEXT UP WE HAVE ALISTER BRAZEAU, EAST BOSTON RESIDENT AND THEN WE'LL GO TO CLARE CAROL BLAIR EXCUSE ME A SOUTHEND AND ROXBURY RESIDENT. ALEX YOU HAVE BEFORE. MADAM CHAIR, THANK YOU VERY MUCH FOR THE OPPORTUNITY TO TESTIFY THIS MORNING.  I ALSO AM SPEAKING IN SUPPORT OF THE PETITION FOR THE SAME REASONS REALLY THAT THOSE THAT HAVE SPOKEN BEFORE ME AND ALSO JUST TO SAY THAT THIS IS A REALLY PRACTICAL MEASURE TO DEAL WITH THIS KIND OF SHOCK AND VALUATION SO THAT THE SHOCK COMES FROM OVERVALUATION OF COMMERCIAL PROPERTIES AND THAT THE WAY THAT COMMERCIAL MORTGAGES ARE MADE YOU KNOW, IT DOESN'T LINE UP WITH THE CURRENT REALITY OF WHERE THE CITY'S AT. SO OVER THE COURSE OF THE NEXT FIVE YEARS HAVING A PERIOD OF TRANSITION WHERE THOSE THINGS WORK THEMSELVES OUT AND THE BURDEN IS ON, YOU KNOW, THE BANKS THAT FINANCE THESE HUGE PROPERTIES RATHER THAN THE HOMEOWNERS ACROSS THE CITY I THINK IS A REALLY SMART THING TO DO. IT'S ALREADY WORKED IN THE PAST IN THE MENINO ADMINISTRATION IN THE EARLY 2000 AND WE'LL GIVE PEOPLE THE BREATHING ROOM THAT THEY NEED WHILE THE CITY KIND OF REORGANIZES IN A POST COVID REALITY OF WHAT PROPERTIES ARE WORTH. SO THANK YOU AND APPRECIATE THE TIME.  THANK YOU, ALEX. THANK YOU SO MUCH FOR JOINING US AND GOOD TO SEE YOU AND HEAR FROM YOU. WE ALSO HAVE CAROL BLAIR WHO'S A SOUTHERN AND ROXBURY RESIDENT . CAROL, YOU HAVE THE. THANK YOU. THANK YOU. GOOD MORNING, EVERYONE AND THANK YOU FOR TAKING THE TIME FOR THIS IMPORTANT TESTIMONY.  SO THINGS WERE DIFFERENT THEN WE ARRIVED TO WORK AT 830 PLUGGING NUMBERS INTO AN OLD CALCULATOR AND LEFT WORK AT FIVE. I WAS 22 AND NEWLY MARRIED. I WAS A YOUNG ENGINEER AND MY TEAM WAS ASKED TASKED WITH DOUBLE CHECKING COMPUTER CALCULATIONS THAT WOULD STOP I-95 FROM BLASTING THROUGH JAMAICA PLAIN AND ROXBURY.  WHEN MY FIRST CHILD WAS ON THE WAY AND WE NEEDED MORE THAN OUR SMALL BEDROOM WE CONSIDERED MOVING TO THE SUBURBS. BUT MY HUSBAND WORKED IN THE EVENING WE'D BE GROWING APART. THANK GOODNESS WE FOUND A HALF GUTTED HOUSE IN THE SOUTH END THAT WE COULD AFFORD.  THAT WAS 50 YEARS AGO. NOW I'M RETIRED AND 32 YEARS INTO ANOTHER MARRIAGE TWO YOUNG COUPLES RENT SPACE IN OUR BUILDING MAKING IT POSSIBLE FOR US TO STAY IN THE CITY. THEY WORK DOWNTOWN AS MOST OF OUR TENANTS HAVE BUT WHEN THEY OUTGROW THE APARTMENT THEY LEAVE BOSTON.  HOUSING IS SCARCE. CARS ARE BIGGER AND THERE ARE MORE OF THEM. THE SUBURBS ARE FEELING CONGESTION AND THE STRUGGLES TO RECOVER FROM DECADES OF NEGLECT. BUT WORK IS IN YOUR POCKET OR YOUR EAR SO BUSINESSES WON'T BE FEELING DOWNTOWN BUILDINGS IN THE SAME WAY. HOW WILL WE PREPARE FOR A NEW FUTURE WHERE RESIDENTS AND BUSINESSES THRIVE AND FEED EACH OTHER? MAYOR WU HAS PROPOSED FLEXIBILITY ZONING FOR STRUCTURES RATHER THAN SPECIFIC ACTIVITIES TRANSPORTATION BY ALL MODES AND TAX RATES THAT RESPOND TO THE NEEDS OF THE MOMENT.  I HOPE WE CAN MAKE ROOM FOR INNOVATION. MY GRANDCHILDREN NOW LIVE IN THE HOUSE WHERE THEIR MOTHER GREW UP. WILL THERE BE A PLACE FOR THEM AND THEIR FAMILIES AND THE NEW BOSTON?  WILL THERE BE ROOM FOR THEIR NEW IDEAS? I ASK THAT YOU ALL SUPPORT A TEMPORARY CHANGE IN RATES TO ALLOW THE CITY TO DEAL WITH THESE ISSUES PARTICULARLY HOUSING. I BELIEVE THAT BUSINESSES WILL BENEFIT FROM A THRIVING BOSTON WORKFORCE. THANK YOU.  THANK YOU, CAROL. WE ALSO HAVE ONE MORE PERSON THAT SIGNED UP FOR PUBLIC TESTIMONY, ETHAN BOYD. I'M NOT SURE IF HE'S IN CENTRAL STAFF OR NOT. IF NOT, WE CAN CALL HIM AFTERWARDS.  IT DOESN'T LOOK LIKE HE'S ON JUST YET. OKAY, WELL, COME ON. WE'LL GO TO THE SECOND PANEL. AND WITH THAT I SEE. SO WE HAVE SYMON CRAWFORD. HE'S THE EXECUTIVE DIRECTOR MASSACHUSETTS AFFORDABLE HOUSING ALLIANCE. YES, I FEEL COHEN WHO? THE PRINCIPAL CONSULTANT AND REAL ESTATE DEVELOPMENT SPECIALIST FROM BOXING COMMUNITIES.  WE'LL ALSO HEAR FROM BOB CREEDON, DIRECTOR OF PROGRAMS AT URBAN EDGE. AND THEN WE ALSO HAVE AND I APOLOGIZE FROM THE CITY FOR YOUR NAME WRONG GEAR SIDE. LOOK, ASSOCIATE DIRECTOR OF URBAN EDGE, PLEASE CORRECT ME WHEN YOU ARE CALLED ON. I DO SEE ETHAN VOIGHT HERE. ETHAN, ARE YOU PREPARED TO PROVIDE ANY PUBLIC TESTIMONY AT THIS MOMENT IN TIME? SURE. I'M HAPPY WHENEVER MAKE SENSE. OKAY, GREAT. IF YOU'RE READY NOW WE'LL GO TO YOU.  ETHAN IS IN EAST BOSTON RESIDENT BUT ALSO FEEL FREE TO TALK ABOUT YOUR PROFESSIONAL EXPERIENCE AS WELL. YOU HAVE BEFORE. THANK YOU, COUNSELOR.  JUST TO INTRODUCE MYSELF, I WAS BORN IN BOSTON. I'M CURRENTLY A RESIDENT OF EAST BOSTON.  I DIE AS OF SIX MONTHS AGO I STARTED WORKING IN COMMERCIAL REAL ESTATE SO I CAME THROUGH A KIND OF UNTRADITIONAL PATH TO THIS. AND I'M FOCUSING SPECIFICALLY ON EAST BOSTON. I WANT TO FIRST ECHO A LOT OF THE CONCERNS I'VE HEARD FROM CONSTITUENTS ABOUT HOW THE PROPERTY TAX INCREASE WILL BE BURDENS AND TO RESIDENTS. I'M I THINK DISPLACEMENT IS A HUGE ISSUE IN THIS CITY AND I THINK WE SHOULD BE WORKING REALLY HARD TO TO MAKE SURE THAT PEOPLE ARE ABLE TO AFFORD TO STAY IN BOSTON AND ARE AND ARE NOT BURDENED. THAT BEING SAID, I THINK AS A PERSONALLY I'M NOT IN SUPPORT OF THIS PROPOSAL AS IT IS CURRENTLY WRITTEN. I THINK I THINK COMMERCIAL REAL ESTATE IS GOING THROUGH A ONCE IN A GENERATION STRUCTURAL CHANGE WITH A BURDEN. THE PANDEMIC OF COURSE HAS CHANGED THE WAY WE LIVE AND WORK.  YOU KNOW ANYBODY WHO WALKS AROUND DOWNTOWN CROSSING CAN SEE THE LEVEL OF VACANCIES AND AND THE CONCERN WE HAVE FOR THAT FOR THAT PART OF THE CITY . ALSO LEASES ARE COMING UP SO WE REALLY DON'T KNOW WHERE THE BOTTOM OF THIS IS. YOU KNOW, WE WILL KNOW AND MAYBE IN FIVE YEARS WHERE IT FLESHES OUT.  AND THEN MOST IMPORTANTLY TO ME A LOT OF THESE COSTS WILL BE PASSED ON TO SMALL TENANTS IF THEY'VE SIGNED TRIPLE NET LEASES. SO SO THAT'S THAT'S WHERE MY HEART IS AND I'M CONCERNED ABOUT THOSE SMALL TENANTS. SO THAT BEING SAID, I DO THINK THAT THE REAL ESTATE COMMUNITY AND THE DEVELOPMENT COMMUNITY HAS A ROLE TO PLAY IN SUPPORTING SUPPORTING THE CITY AS AS BOTH AS BOTH ENTITIES GO THROUGH SOME SIGNIFICANT CHANGE . SO I'D LOVE TO SEE SOME SORT OF CREATIVE SOLUTIONS OR OFFERS FRANKLY FROM FROM THOSE ENTITIES TO HELP TO HELP SOLVE THESE COMMON PROBLEMS.  YOU KNOW, I THINK DOWNTOWN CROSSING SPECIFICALLY THERE'S BEEN A LOT OF TALK ABOUT CONVERSION FROM OFFICE TO RESIDENTIAL. MY SENSE OF IS THAT IS THAT'S VERY HARD TO DO BUT IT MAY BE CONVERSION FROM OFFICE TO SOME SORT OF COMMUNITY OR CIVIC USE IS SOMETHING THAT THESE DEVELOPERS COULD HELP FACILITATE. THESE PEOPLE ARE EXPERTS IN AND BUYING AND TRADING AND USING BUILDINGS SO YOU KNOW, ALLOWING THEM TO TO APPLY SOME OF THEIR SKILLS TO HELP SOLVE SOME OF THESE CONCERNS THE CITY HAS. I ALSO THINK CLIMATE CHANGE IS SOMETHING THAT AFFECTS US ALL AND SPECIFICALLY REAL ESTATE INTEREST. SO WOULD YOU KNOW WOULD WOULD WOULD REAL ESTATE INTEREST BE OPEN TO HELPING BOSTON INVEST IN IN CLIMATE RESILIENCY?  I'D LIKE TO THAT'S ANOTHER PLACE WHERE I THINK THINGS WOULD HAPPEN AND THEN I GUESS FINALLY WHAT I'D SAY IS I'D LIKE TO SEE EVERYBODY THE CITY INCLUDED TRY TO BUILD STRENGTH IN THE SMALL TENANTS HERE IN EAST BOSTON AND ACROSS THE CITY. THE THEY ARE REALLY THE LIFEBLOOD OF OUR CITY. THEY MAKE THE CITY WORTH LIVING IN AND SO I'D LOVE TO SEE THE CITY RESPOND BY BY SUPPORTING THOSE TENANTS WHO ARE STRUGGLING. SO I APPRECIATE THE CHANCE TO PRESENT TO THIS BODY AND YEAH,  THANKS VERY MUCH.  THANK YOU SO MUCH FOR YOUR TESTIMONY AND YOUR PERSPECTIVE. ETHAN I REALLY APPRECIATE IT.  OKAY. WE'LL GO TO THE SECOND PANEL. WE'LL HAVE SOMEONE CRAWFORD START AS THE EXECUTIVE DIRECTOR OF OMAHA AS SOMETHING YOU HAVE FOR GOOD MORNING. THANK YOU. I MUST SAY THANK YOU TO THE ENTIRE COUNCIL FOR HAVING ME SPEAK ON BEHALF OF MY HEART. I MUST ALSO STATE I LIVE IN MATTAPAN FOR OVER 20 YEARS. I AM A LANDLORD WITH NATURALLY OCCURRING LOWER RENT TO MY TENANTS THAT I WOULD LOVE TO KEEP NOT LIVE FOR AS LONG AS I POSSIBLY CAN. AND SO I WOULD LIKE TO JUST ENCOURAGE SHARE THAT BEFORE I START I AM HERE ON BEHALF OF MY HEART TO FULLY SUPPORT THIS PROPOSAL FROM THE MAYOR. WE ARE EDUCATION I WOULD SUBMIT WE TEACH FIRST TIME BY CLASS AND HOMEOWNER CLASS ABOUT SUSTAINABILITY.  CURRENTLY IT IS HARD FOR POTENTIAL HOME BUYERS TO ENTER THE HOUSING MARKET. THEY ARE FACED WITH EXTREMELY HIGH INTEREST RATE AND HIGH OIL PRICES. BANKS TAKE ON THE EXPENSES INTO CONSIDERATION WHEN UNDERWRITING MORTGAGES WHICH MAKES A HIGHER TAX RATE A BARRIER TO HOMEOWNERSHIP. WE ALSO HAVE HOMEOWNERS THAT ARE FACED WITH HUMONGOUS INCREASES FOR PROPERTY INSURANCE. CURRENTLY WE ARE SEEING AN INFLUX OF THESE INDIVIDUALS COMING INTO OUR CLASSES TRYING TO MAXIMIZE ANY KIND OF DISCOUNT THAT THEY CAN GET WHICH IS MINIMAL. SO A TAX INCREASE ON OUR HOMEOWNERS WOULD ALSO BE A BURDEN THAT MOST OF US COULD NOT REBOUND FROM. IN ADDITION, HOMEOWNERS OF COLOR HAVE THE LOWER LOWER HOMEOWNERSHIP RATES AND WILL BE THE HARDEST HIT. SO THIS IS THE WORST TIME WE THINK FOR A BIG INCREASE IN PROPERTY TAXES. I WHILE I AM NOT AN EXPERT ON THIS SUBJECT, I DO UNDERSTAND THAT BOSTON'S REVENUE COME DISPROPORTION LATELY FROM PROPERTY TAXES AND THOSE EITHER COME FROM HOMEOWNERS AND BUSINESS OR BUSINESSES. BOSTON DOES NOT HAVE THE POWER TO ASSESS COMMUTER TAXES OR OTHER REVENUE RAISING PROPOSALS AND SO WE ARE RELYING ON PROPERTY TAXES AS THE MAIN REVENUE SOURCE. WE REALLY APPLAUD METRO'S PROPOSAL TO REALLY THINK CAREFULLY ABOUT HOW TO BALANCE THIS IN THIS PARTICULAR TIME. MAYOR MENINO DID THIS IN 2004. THE BUSINESS COMMUNITY DID SUPPORT THIS MAYBE EVENTUALLY BUT IT DID HAPPEN AND IT WORKED . WE THANK THE MAYOR FOR PUTTING FORTH THIS PROPOSAL. IT IS PRACTICAL.  IT IS TIME LIMITED AND IT'S A SOLUTION WHERE WE GET THROUGH THIS ECONOMIC CYCLE. SO WE'RE LOOKING FORWARD TO CONTINUING TO SUPPORT AND AM HERE TO ANSWER ANY QUESTIONS THAT YOU MAY HAVE. AND THANK YOU. THANK YOU SO MUCH. PROPERTY TAX MONEY WILL GO TO MR PHIL COHEN WHO THE PRINCIPAL CONSULTANT IN REAL ESTATE DEVELOPMENT FROM BOSTON COMMUNITIES.  CAN YOU GUYS HEAR ME ALL RIGHT. THANK YOU ALL FOR TAKING THE TIME FOR THIS HEARING AND IF THIS DISCUSSION WE REALLY APPRECIATE IT. AS YOU MENTIONED, MY NAME IS BILL COHEN AND BACK LONGTIME BOSTON RESIDENT AND PRINCIPAL AT BOSTON COMMUNITIES.  WE'RE A TEAM OF HOUSING ADVOCATES AND REAL ESTATE DEVELOPERS WHO SPECIALIZE IN DEVELOPING AFFORDABLE AND MIXED INCOME COMMUNITIES IN BOSTON AND AROUND THE AREA. AND AND WE'VE BEEN WORKING REALLY HARD WITH THE CITY OF BOSTON TO BUILD OPPORTUNITIES FOR AFFORDABLE HOUSING NOT JUST FOR RENTERS BUT ESPECIALLY FOR HOMEOWNERS AND FOR THOSE WHO WOULD LIKE TO BE HOMEOWNERS AS A WAY OF BUILDING WEALTH IN THEIR COMMUNITIES AND PROVIDING A TYPE OF STABILITY THAT RENTERS DON'T ALWAYS HAVE.  AND WE'RE ACTUALLY ONE OF THE DEVELOPMENT TEAMS THAT ARE AWARDED SOME OF THE MAYORS WELCOME ON BOSTON SITES. I'M SUPER GRATEFUL TO BE HELPING IN THIS WAY AND I'VE ALSO BEEN ABLE TO SEE FIRSTHAND THE BENEFITS THAT LONG TERM OWNERSHIP CAN HAVE NOT JUST FOR A FAMILY BUT ALSO FOR A COMMUNITY. SO RECOGNIZE THE NEED TO INCREASE TAX RATES IN SOME WAY IN ORDER TO TO PROVIDE THE SAME LEVEL OF CITY SERVICES AS WE HAVE IN THE PAST. I KNOW THIS IS AN IDEAL BUT I'M PERSONALLY JUST VERY FAMILIAR WITH THE HARDSHIPS THAT CAN HAPPEN WHEN RESIDENTIAL RATES INCREASE AND IT'S IT'S SUPER SIGNIFICANT AND IMPORTANT WHEN IT COMES TO, YOU KNOW, FIGURING OUT HOW MUCH A FAMILY CAN AFFORD ANNUAL EXPENSES LIKE TAXES ARE JUST SUPER SENSITIVE . SO I THINK IT'S VERY IMPORTANT TO DO WHAT WE CAN TO KEEP BOSTON AFFORDABLE AND TO KEEP IT ACCESSIBLE TO NOT ONLY OUR CURRENT RESIDENTS BUT FAMILIES WHO'VE GROWN UP HERE BUT ALSO JUST FOR A DIVERSE POPULATION. SO MY OPINION IS THAT THIS PROPOSAL GIVES THE AND FLEXIBILITY TO DO THAT AND THAT'S WHY I'M SUPPORTING THIS FIVE YEAR PLAN.  THANK YOU ALL FOR YOUR TESTIMONY AND I DO WE HAVE BOB KRIEL OR GUSTAV DUKE FROM URBAN EDGE ON THE CALL.  OKAY. MAYBE WE CAN CIRCLE BACK TO THEM. I DO WANT TO JUST MENTION THAT WE'VE BEEN JOINED BY COUNCILORS BEN WEBER AND BRIAN WARREN.  IF WE DON'T HAVE THE INDIVIDUALS FROM URBAN EDGE, WE CAN MOVE TO THE THIRD PANEL AND WE'RE MAKING REALLY GOOD TIME. THANK YOU EVERYBODY. THE UNION REPRESENTATIVES THERE ON THE CALL WE SHOULD HAVE JANEY MCNEIL FROM UNITE HERE LOCAL 26 CHARLIE MCGUINNESS FROM THE BOSTON TEACHERS UNION. EDDIE LESTARI FROM OUR CITY COUNCIL 93 AND TOM MCKEEVER FROM SEIU LOCAL 80.  I'LL GIVE CENTRAL STAFF THE ABILITY OR THE OPPORTUNITY TO ELEVATE THEM TO PANELISTS.  THEY'RE BEING MOVED OVER NOW. OKAY, GREAT. THANK YOU. AND JUST AS A REMINDER TO MY COLLEAGUES, WE'LL GO INTO OUR FIRST ROUND OF TWO QUICK COMPONENTS 5 MINUTES EACH.  IT LOOKS LIKE WE HAVE SOME FOLKS ALREADY ON BECAUSE I SEE HIM FIRST. I WILL GO TO TOM MCKEEVER WHO IS THE I'M SORRY I WANT TO GET YOUR TITLE CORRECT. I DON'T HAVE YOUR TITLE. EXCUSE ME IF YOU COULD SET BEFORE YOUR TESTIMONY YOU ARE SEIU LOCAL 82 TOM YOU BEFORE. THANK YOU TO THE HONORABLE CITY COUNCILORS AND COUNCIL PRESIDENT AND DISTINGUISHED GUESTS ON THIS CALL. MY NAME IS TOM MCKEEVER. I'M THE PRESIDENT OF SEIU LOCAL 88 SEIU LOCAL 88 UNITES 8000 PUBLIC SECTOR WORKERS OUR MEMBERS PROVIDE VITAL SUPPORT AND SERVICES IN THE CITY AND TOWNS THROUGHOUT THE COMMONWEALTH, INCLUDING 1200 CITY OF BOSTON EMPLOYEES ALL LOCATED EIGHT CITY OF BOSTON EMPLOYEES MUST MAINTAIN RESIDENTS IN BOSTON FOR THE FIRST TEN YEARS OF SERVICE TO THE CITY.  MANY OF OUR MEMBERS ARE LIFETIME RESIDENTS OF BOSTON AND UNDERSTAND THE IMPORTANCE OF RESIDING IN THIS AND AND SUPPORTING THE CITY LOCATED EIGHT BELIEVES IN DIGNITY AND VALUE OF THE SERVICES OUR MEMBERS PROVIDE THE CITY LOCATED AND IS DEDICATED TO IMPROVING THE LIVES OF OUR MEMBERS AND THE COMMUNITIES WE SERVE. WE ARE BACKED BY A POWER AND STRENGTH OF THE LARGEST UNIONIZED STATES THE SERVICE EMPLOYEES INTERNATIONAL UNION. WE ARE 2 MILLION MEMBERS STRONG AND GROWING.  LOCAL 88 SUPPORTS MAYOR WU'S HOME RULE PETITION TO PROTECT RESIDENTIAL PROPERTY OWNERS. WE AGREE WITH THIS LEGISLATION THAT PROVIDES STABILITY FOR ALL TAXPAYERS. PRESERVING THE AFFORDABILITY OF BOSTON FOR HOMEOWNERS IS BENEFICIAL TO ALL AND HELPS PRESERVE THE VIBRANCY OF THE CITY FOR YEARS TO COME. OUR SERVICE WORKERS CANNOT AFFORD A DRAMATIC INCREASE IN PROPERTY TAX OR RENT RENT INCREASES AND CONTINUE TO EITHER LIVE IN THE CITY THEY LOVE OR PROVIDE SUPPORT THROUGH THEIR VALUABLE CONTRIBUTIONS TO THE CITY. WE RESPECTFULLY ASK THE CITY COUNCILORS COUNCIL PRESIDENT TO SUPPORT MAYOR WU'S LABOR LEGISLATOR.  AND THAT CONCLUDES MY STATEMENT TODAY. THANK YOU FOR THE OPPORTUNITY. THANK YOU SO MUCH. TIME FOR YOUR TESTIMONY.  WE'LL GO IN THIS ORDER MOVING FORWARD. JANEY MCNEIL LOCAL 26 JOHN MCGINNIS AND THEN ADDING THE STORY ALTHOUGH I THINK WE HAVE WILLIAM SHOES ON HERE ON HIS BEHALF SO JANEY, YOU HAVE THE FLOOR. THANK YOU SO MUCH COUNCILOR AND THANK YOU COUNCILORS FOR HAVING THIS HEARING TODAY. IT'S GREAT TO SEE YOU ALL.  MY NAME IS JANEY MCNEIL. I'M THE GENERAL AGENT FOR THE HOSPITALITY WORKERS UNION HERE LOCAL 26 WE REPRESENT OVER 12,000 WORKERS IN THE HOSPITALITY INDUSTRY HERE AND WE'RE IN SUPPORT OF THIS DOCKET. WE NOT ONLY REPRESENT THOUSANDS OF BOSTON HOMEOWNERS AND RENTERS BUT WE ALSO JUST BOUGHT AN OFFICE BUILDING IN DOWNTOWN BOSTON.  WE WE PURCHASED THIS BUILDING BECAUSE OF THE INCREDIBLE WORK OF THE FOLKS WHO ARE ON THIS PANEL WITH ME . WE PURCHASED THIS BUILDING BECAUSE WE KNOW A MEMBER OF ASMI IS GOING TO KEEP THE STREET CLEAN IN FRONT OF OUR OFFICE BUILDING AND THE STREETS AROUND IT.  WE PURCHASED THIS BUILDING BECAUSE WE KNOW IF GOD FORBID THERE'S AN EMERGENCY AT THE OFFICE SOMEONE FROM BOSTON EMS WILL BE THERE IN MINUTES ALONG WITH SOMEONE FROM LOCAL 718 FIREFIGHTER. WE PURCHASED THIS BUILDING BECAUSE WE KNOW THE PARKS ARE IMMACULATE, THEY'RE CLEAN.  WE KNOW THAT THE STREETS ARE GOING TO BE SAFE WHEN WE GO TO WALK HOME AND WE KNOW THAT IF THERE'S AN ISSUE IN THE NEIGHBORHOOD WE CAN CALL THE CITY AND CITY STAFF WILL BE THERE NIGHT AND DAY TO FEEL THAT CALL AND MAKE SURE THAT THAT NEIGHBORHOOD ISSUE IS RESOLVED. THESE WORKERS THE WORKERS THAT ARE ON THE PANEL WITH ME CONTRIBUTE TO NEARLY EVERY REASON PURCHASED THIS OFFICE BUILDING HERE IN BOSTON. THESE ARE THE PUBLIC GOODS THAT WE MUST CONTINUE TO FUND IN TO KEEP OUR CITY WORKING AND KEEP OUR CITY ATTRACTIVE FOR FUTURE OFFICE TENANTS, FUTURE OFFICE PURCHASERS.  AND YOU KNOW, WE DEALT WITH A LOT OF THE AFTERSHOCKS OF COVID AS AN ORGANIZATION WE FEEL LIKE THIS IS ANOTHER AFTERSHOCK AND WE AS RESIDENTS YOU KNOW, I'M A CITY BOSTON RESIDENT. WE SHOULDN'T FACE THE FULL BURDEN. WE CAN FACE PART OF THE BURDEN. WE SHOULDN'T FACE THE FULL BURDEN OF A CRISIS THAT WE AS BOSTON RESIDENTS DID NOT CREATE . I FEEL LIKE THIS PETITION, THIS DOCKET IT HAS SHARED SACRIFICE. YOU KNOW, IT'S TEMPORARY AND IT CREATES GUARDRAILS FOR BOTH COMMERCIAL OWNERS AND FOR RESIDENTS LIKE ME IN THE THOUSANDS OF MEMBERS OF LOCAL 26. SO WE'RE HERE IN FULL SUPPORT AND WE ASK FOR YOUR CONSIDERATION OF THIS DOCKET FOR THE RESIDENTS AND FOR THE COMMERCIAL BASE HERE IN THE CITY OF BOSTON. THANK YOU.  THANK YOU, JANEY. IT'S THE NEXT STEP. WE HAVE JOHNNY MCGINNIS FROM BEATTY. YOU.  GOOD MORNING, CHAIR. HELLO TO AND MEMBERS OF THE BOSTON CITY COUNCIL . MY NAME IS JOHN MCINNIS. I'M THE POLITICAL DIRECTOR FOR THE BOSTON TEACHERS UNION AND I'M ALSO A RESIDENT OF BOSTON. WE REPRESENT OVER 7000 ACTIVE MEMBERS AND OVER 3000 RETIRED MEMBERS. I BRING YOUR ATTENTION TO THE TAX RELIEF HOME RULE PETITION. THE BOSTON TEACHERS UNION IS IN SUPPORT OF THIS AS IT WOULD PREVENT INCREASING TAXES FOR RESIDENTS OF THE CITY OF BOSTON WHERE THE FAMILIES OF STUDENTS AND MANY OF OUR MEMBERS.  A VERY CENTRAL GROUP WE REPRESENT THAT THIS WOULD AFFECT OUR BTU RETIRED EDUCATORS WHO LIVE ON A FIXED INCOME AND WITH NO INCREASE TO THEIR COLA.  IT CREATES ANOTHER FINANCIAL HARDSHIP ON THEM. WE FEEL THE EFFECTS OF A HOUSING CRISIS UNAFFORDABLE TERM AFFORDABLE AT THIS TIME THE AFFORDABLE AND UNAFFORDABLE IS WHAT I MEAN AND WE'LL GET BEHIND NOT HAVING OUR MEMBERS AND FAMILIES WITH THEIR PERSONAL.  PROPERTY TAX RATES. SENIORS ARE A VITAL PART OF OUR COMMUNITY.  WHY WOULD WE CREATE A FINANCIAL OBSTACLES THAT WOULD CAUSE THEM TO BE DISPLACED BY NOT PASSING THIS HOME RULE PETITION?  WE WILL SEE MORE FAMILIES LEAVE BOSTON WITH THEIR CHILDREN WHO ARE TAUGHT IN SCHOOLS BY OUR MEMBERS BECAUSE OF AN INCREASE IN THE TAX RATES.  ALSO BY NOT PASSING THIS PETITION. IT WILL ADD TO AN ALREADY EXACERBATED COST OF HOUSING AND TO RENTERS HOUSING INSECURITY CONTINUES TO BE ONE OF THE LARGEST CHALLENGES FACING THE YOUNG PEOPLE AND PARENTS OUR MEMBERS SERVE EVERY DAY. MAYOR WU'S PROPOSAL IS A PATHWAY TO ALLOW OUR MEMBERS,  STUDENTS AND FAMILIES TO STAY IN BOSTON AND BUILD AND UPLIFT THEIR COMMUNITIES. SHIFTING THE COSTS OF TAXES TO CORPORATE ENTITIES ALLOWS US TO STOP RELYING ON OUR FAMILIES SOLELY TO KEEP OUR CITY GOING.  BUT THE BUSINESSES THAT PROFIT EVERY DAY WE AS REPRESENTATIVES OF OVER 10,000 PLUS EDUCATORS WHO SERVE TENS OF THOUSANDS OF YOUNG BOSTONIANS AND FAMILIES EVERY DAY STAND IN SUPPORT OF THE MAYOR'S INITIATIVE. THANK YOU.  THANK YOU. JOHN GIBSON AS WELL.  NOW WE HAVE WILLIAM.  SHE'S ON FROM CITY COUNCIL 93.  LET ME HAVE THE FLOOR. THANK YOU, COUNCILOR . I'D LIKE TO READ INTO RECORD A LETTER FROM OUR EXECUTIVE DIRECTOR MARK BALLARD FROM THE COUNCIL 93 ALONG WITH CHRIS STOCKBRIDGE, PRESIDENT OF OUR CITY COUNCIL AND 93 IN SUPPORT OF THE MAYOR'S PETITION ON BEHALF OF THE MORE THAN 2000 ASHRAM MEMBERS WHO WORK AND LIVE IN THE CITY OF BOSTON.  WE WRITE TO EXPRESS OUR STRONG SUPPORT FOR ME AND MICHELLE WU'S EFFORTS TO FILE AND PASS ON THE PASS MORE LEGISLATION THAT SEEKS TO PROTECT BOSTON RESIDENTS FROM A DRASTIC INCREASE IN PROPERTY TAXES.  AS A UNION REPRESENTING WORKERS WHO ARE BOUND BY RESIDENCY REQUIREMENTS AS A CONDITION OF EMPLOYMENT, I CAN ASSURE YOU THAT WORKERS ARE ALREADY STRUGGLING TO MEET THE HIGH COST OF OWNING OR RENTING HOMES IN THE CITY WHILE INCREASES IN PROPERTY TAX WILL UNDOUBTEDLY BE AN IMPACT ON HOMEOWNERS.  ANY PROPERTY TAX INCREASE WILL ALSO ULTIMATELY IMPACT RENTERS WHEN LANDLORDS PASS THE INCREASE ON TO THEIR TENANTS.  GIVEN THAT BOSTON IS ALREADY ONE OF THE MOST EXPENSIVE HOUSING MARKETS IN THE COUNTRY, WE URGE THE CITY COUNCIL TO SUPPORT ANY EFFORT TO KEEP INCREASES IN HOUSING COSTS IN CHECK ESPECIALLY FOR THE PEOPLE WHO ARE REQUIRED LIVE IN THE CITY. AS YOU KNOW, THE COVID 19 PANDEMIC RESULTED IN WHAT APPEARED TO BE A PERMANENT CHANGE IN MONDAY THROUGH FRIDAY 9 A.M. TO 5 P.M.. WORK MODEL MANY OF THE TENS OF THOUSANDS OF PEOPLE WHO SHIFTED TO WORK AT HOME DURING THE PANDEMIC NEVER RETURNED TO THEIR FORMER OFFICES.  MANY OTHERS SHIFTED TO HYBRID MODELS AND SPENT JUST TWO OR THREE DAYS IN THEIR OFFICES. AS A RESULT THERE HAS BEEN AND WILL MOST LIKELY CONTINUE TO BE A DECLINE IN THE COMMERCIAL PROPERTY VALUES AS WELL AS THE CORRESPONDING DECLINE IN COMMERCIAL PROPERTY TAX REVENUE . UNDER THE PRESENT SYSTEM A SIGNIFICANT DECLINE IN COMMERCIAL PROPERTY ASSESSMENT WHERE RESULT IN RESIDENTS RESIDENTIAL PROPERTY OWNERS PAYING HIGHER TAXES THROUGH A HIGHER TAX RATE IN ORDER TO MAINTAIN FUNDING FOR THE ESSENTIAL CITY SERVICES DELIVERED BY OUR MEMBERS AND OTHER HARD WORK AND PUBLIC SECTOR WORKERS.  THIS PROPOSED HOME RULE PETITION WOULD ENABLE THE CITY TO LESSEN THE INCREASE IN RESIDENTIAL PROPERTY TAX BILLS CAUSED BY DECLINES COMMERCIAL VALUES BY TEMPORARILY SHIFTING MORE OF THE PROPERTY TAX LEVY ONTO OWNERS OF COMMERCIAL AND INDUSTRIAL PROPERTIES.  THE PROPOSAL IS REVENUE NEUTRAL AND DOES NOT INCREASE THE TOTAL AMOUNT OF REVENUE THE CITY IS ABLE TO COLLECT THROUGH PROPERTY TAXES.  FINALLY IS IMPORTANT TO NOTE THAT WE SUPPORT THIS MEASURE EVEN THOUGH THE UNION OWNS A NINE STORY OFFICE BUILDING ON BEACON HILL AND AS SUCH THIS PROPOSAL WOULD HAVE A DIRECT IMPACT ON THE ORGANIZATION'S FINANCES. HOWEVER, THE PERSONAL FINANCES OF FAMILY BUDGETS OF OUR MEMBERS ARE FAR MORE IMPORTANT TO US THAN THE LEADERS OF THIS UNION. THEREFORE WE RESPECTFULLY URGE THE CITY COUNCIL TO SUPPORT THIS EFFORT. THANK YOU FOR CONSIDERATION.  IF YOU HAVE ANY QUESTIONS OR WOULD LIKE TO DISCUSS AND SUPPORT THIS INITIATIVE IN GREATER DETAIL PLEASE FEEL FREE TO CALL US AT ANY TIME.  THANK YOU.  THANK YOU SO MUCH FOR YOUR TESTIMONY BECAUSE YOU.  SO NOW WE'LL SWITCH TO MY COUNTERPART LEAGUES FOR ANY QUESTIONS THEY MAY HAVE FOR ANY OF THE PANELISTS IN THE LAST THREE PANELS. REMINDER YOUR 5 MINUTES EACH AND FOR THE ORDER AS A REMINDER IT'S COUNCIL PRESIDENT FOR SUPERVISION AND GET PEN HENRY SANTANA BRUTON JOHN FITZGERALD JOIN MEJIA TONY FERNANDEZ ANDERSON AND FLYNN ERINN MURPHY ,BEN WEBER AND BRIAN WUERL AND THEN MYSELF COUNCIL PRESIDENT LUCY LOUIJEUNE. YOU NOW HAVE 5 MINUTES. THANK YOU TO OUR GALLERY AND THANK YOU FOR SHEPHERDING US THROUGH THIS PROCESS. I WANT TO THANK ALL OF THE PANELISTS WHO TESTIFIED ESPECIALLY EVERYONE. I THOUGHT IT WAS REALLY HELPFUL TO HEAR UNIONS WHO RECENTLY PURCHASED BUILDINGS AND HAVE COMMERCIAL BUILDINGS IN THE CITY OF BOSTON. THAT WAS REALLY HELPFUL ALSO TO HEAR YOUR TESTIMONY. I THINK THE CHAIR ALSO SAID, YOU KNOW, THIS MEASURE IS REALLY TO HELP THOSE WHO ARE HOUSE RICH AND CASH POOR AND YOU KNOW, WHILE NOT AN EASY DECISION ONE WAY OR THE OTHER, IF WE DON'T DO ANYTHING WE'LL SEE A SIGNIFICANT INCREASE ON TAXES FOR OUR RESIDENTS IN THE CITY OF BOSTON.  SO I HAVE ONE QUESTION AND THAT'S DIRECTED TO SIMON CRAWFORD WHO'S AT MY.  GIVEN THAT YOU ARE DOING WORK CENTRAL ABOUT MAKING HOMEOWNERSHIP MORE POSSIBLE FOR LOW INCOME FAMILIES FOR BLACK AND BROWN FAMILIES TO MAKE SURE THAT WE ARE DOING EVERYTHING WE CAN TO CLOSE THE RACIAL WEALTH GAP AND YOU SEE OF HOW DIFFICULT IT CAN BE FOR FAMILIES EVEN TO GET THEM TO THAT FINISH LINE.  CAN YOU TALK ABOUT WHAT A TAX INCREASE WOULD REALLY YOU KNOW WHAT IT WOULD LOOK LIKE RIGHT NOW FOR FAMILIES THAT YOU ARE HELPING AND PEOPLE THAT YOU ARE HELPING BECOME HOMEOWNERS GETTING?  BASICALLY LOOKING TO THE FUTURE. BUT IF YOU CAN TALK TO US A LITTLE BIT ABOUT DO THEY COME TO YOU ALREADY AT THE MOMENT NOW WHAT SORT OF CONCERNS ABOUT YOU KNOW, HOW THEY'RE ABLE TO PAY, YOU KNOW, THE COST OF BEING A HOMEOWNER? THANK YOU, PRESIDENT.  GREAT QUESTION. AND YES, WE ARE SEEING AN INFLUX OF INDIVIDUALS BOTH IN OUR CLASSES. FIRST OF . HOMEOWNER CLASSES AND JUST RANDOM CALLS ON THE PHONE TRYING TO FIGURE OUT WAYS TO REALLY MITIGATE THE INCREASE IN HOMEOWNER'S INSURANCE RATE IN AND FOR LARGE EMERGENCY REPAIRS THAT THEY'RE FACING NOW THAT DUE TO THEIR INCOME THEY'RE NOT ABLE TO TO TO FULLY REALIZE.  AND WE HAVE SEEN AN INCREASE IN ABOUT 30% IN INSURANCE RATE HOMEOWNER'S RATE ACROSS THE BOARD.  TO PUT THINGS INTO PERSPECTIVE, THE YEAR BEFORE LAST AND LAST YEAR WE WOULD HAVE OR MORE IN OUR CLASSES ABOUT 50 TO 60 INDIVIDUALS IN THE CLASS. WE ARE SEEING 200 AND 250 INDIVIDUALS IN EACH CLASS EACH MONTH TRYING TO MAXIMIZE THE THE THE INSURANCE DISCOUNTS THAT SOME INSURANCE COMPANY WITHIN THE STATE OF MASSACHUSETTS OFFER IF THEY TAKE OVER ONE CLASS. SO IT JUST I'M THINKING THAT IT WOULD JUST EXACERBATE THE CRISIS THAT HOMEOWNERS ARE CURRENTLY GOING THROUGH WITH THE COST OF MAINTAINING THEIR HOMES. IF WE ALSO LEVERAGE EXORBITANT TAXES AT THIS POINT IN TIME.  THANK YOU. THANK YOU SO MUCH FOR THAT ANSWER AND ALL WORK THAT YOU DO AT MY JOB I'M GOING TO RESERVE ANY QUESTIONS BECAUSE I DON'T WANT TO TYPE TIMELINES. SO THANK YOU.  THANK YOU FOR THAT. THAT WAS ABOUT 3 MINUTES. ALL RIGHT. NEXT UP WE HAVE COUNSELOR AND THEN HEY MADAM CHAIR. THANK YOU SO MUCH FOR HOSTING THIS VERY IMPORTANT HEARING AND THANK YOU SO MUCH FOR ALL THE PUBLIC TESTIMONIES THAT HAVE ALREADY BEEN PART OF THIS CONVERSATION BEEN VERY INFORMATIVE FOR ME TO HEAR FROM NOT JUST RESIDENTS AND ADVOCATES BUT ALSO FROM OUR UNION LEADERS ACROSS THE ENTIRE CITY. SO VERY THANKFUL FOR THAT I COUNCIL PRESIDENT YOU BEAT ME TO IT. I WAS ALSO GOING TO ASK MR CRAWFORD A QUESTION SO I'M GONNA ASK MY SECOND QUESTION TO ANY OF THE UNION LEADERS IN THIS IN THIS MEETING AT THE MOMENT HOW WOULD A TAX INCREASE AFFECT THE WORKFORCE OF THIS CITY? BECAUSE I KNOW THAT OBVIOUSLY IF A TAX INCREASE WERE TO HAPPEN FOR OUR HOMEOWNERS AND OUR TENANTS THAT WOULD BE A BURDEN FOR THEM. DO YOU DO YOU FORESEE THIS AFFECTING OUR WORKFORCE IN OUR CITY FOR ANY OF YOU?  WELL, I'LL BE HAPPY TO ASK ME . I DEFINITELY SEE THIS AFFECTING NOT ONLY OUR RENTERS BECAUSE IF THE LANDLORDS ARE INTO IF TAXES THEY INCREASE ON LANDLORDS. THAT DEFINITELY HAS TO BE PASSED ALONG TO OUR MEMBERS WHO WHO LIVE AND BREATHE IN THIS CITY. THAT'S WHY WE WE WE ABSOLUTELY SUPPORT THIS HOMEOWNER PETITION BECAUSE THEY'RE ALREADY FORCED TO LIVE IN THE CITY BECAUSE OF RESIDENCY AND ANY ADDED EXPENSES IS JUST GOING TO DIMINISH EVERYTHING WE'VE BEEN WORKING FOR TO INCREASE THEIR PAY THROUGHOUT THE YEARS AND WELL I BELIEVE TOM FROM SEIU MENTIONED THAT THERE'S A TEN YEAR MINIMUM RESIDENCY REQUIREMENT. IS IT SIMILAR TO ABSENTEE AS WELL? SAME THING WOULD ASK ME . YES. OKAY, LOOK, THAT'S THAT'S GOOD TO KNOW. THANK YOU FOR THAT. I I AS WELL AS COUNCIL PRESIDENT ALSO GOING TO RESERVE OH TOM DO YOU WANT TO ANSWER THAT AS WELL GO AHEAD. THANK YOU COUNSELOR. GOT TO JUST ANSWER YOUR QUESTION FROM OUR PERSPECTIVE. I MEAN IT WOULD IT WOULD REDUCE THE DISPOSABLE PERSONAL INCOME AND AND CERTAINLY YOU KNOW, AND REDUCE CONSUMPTION AND AND BUYING POWER WITHIN THE YOU KNOW, IN THE CITY OF BOSTON.  SO WE FIND THAT TO BE, YOU KNOW, BURDENSOME IF THAT ANSWERS YOUR QUESTION. YES, SIR THANK YOU.  YEAH. AND I'LL ADD TO THAT I MEAN IT DEFINITELY AFFECTS THE EDUCATORS THAT ARE IN THE SCHOOLS. IT WOULD PRICE THEM TO PRICING THEM OUT OF BOSTON LOOKING FOR HOUSING ELSEWHERE AND AS I MENTIONED EARLIER, THE SAME THING FOR OUR FAMILIES WHO ARE FACING YOU KNOW, HOMELESSNESS AND AND OTHER YOU KNOW, SEVERE FINANCIAL HEARTACHE DOING THIS TIME. SO THAT'S WHY IT'S IMPORTANT FOR THIS TO PASS. BUT THANK YOU.  YEAH JANEY, I MAY I'LL JUST I'LL JUST ECHO WHAT EVERYONE SAID. WE DON'T REPRESENT WORKERS THAT WORK FOR THE CITY BUT SAME EFFECTS FOR OUR MEMBERSHIP IN THE REAL THE REALLY THE SOME OF THE COMMERCIAL OWNERS I MEAN ONE OF THE BIGGEST COMPLAINTS IS THEY CAN'T FIND ANYBODY WHO CAN LIVE HERE, YOU KNOW, AND SO I DON'T UNDERSTAND WHY THAT ISN'T BEING CONSIDERED AS PART OF THIS EQUATION IF HOUSING IS SUCH AN ISSUE FOR THE BUSINESS COMMUNITY.  I MEAN THIS IS A HUGE IMPACT IN TERMS OF HOUSING FOR BOSTON RESIDENTS. SO I SEE IT ON BOTH SIDES AS BEING AN ISSUE.  AND IF I MAY, MADAM CHAIR, THE LAST THING THAT I WOULD SAY IS AS THE COUNCILOR FOR DISTRICT FIVE I, I KNOW THE NUMBER OF UNION MEMBERS FOR EACH OF YOUR UNIONS WHO LIVE IN MY WHO LIVE IN MY DISTRICT ALONE THAT DO SUCH GREAT WORK FOR OUR FOR OUR CITY ALREADY SO I APPRECIATE YOUR INPUT INTO THIS CONVERSATION AND IT'S IT'S GOOD FOR ME TO KNOW SO THANK YOU SO MUCH I'LL USE THE REST OF MY TIME.  THANK YOU COUNCILOR PREPARE AND ACCEPT WE HAVE COUNCILOR EXCUSE ME COUNCILOR HENRY SANTANA AND THEN BURDEN.  GOOD MORNING AND THANK YOU MADAM CHAIR AND THANK YOU SO MUCH FOR ALL THE WORK THAT YOU'VE DONE TO SHEPHERD US THROUGH THIS PROCESS.  I REALLY APPRECIATE IT AND ALL THE PUBLIC TESTIMONY IT WAS REALLY HELPFUL TO HEAR FROM SO MANY DIVERSE GROUPS. I DO HAVE I DON'T HAVE ANY QUESTIONS BUT I DO HAVE A FEW TO FILL. YOU KNOW, MR KLEIN, YOU MENTIONED THE LONG TERM BENEFITS OF HOMEOWNERSHIP FOR RESIDENTS. HOW DO YOU THINK THE PROPOSED PROPERTY TAX CHANGES WILL IMPACT THE DEVELOPMENT OF AFFORDABLE AND MIXED INCOME HOUSING HERE IN BOSTON?  IF I MAY, COUNCIL CONTENDED THAT WAS FOR SALE FROM BOSTON COMMUNITIES, CORRECT? OKAY. ARE YOU STILL WITH US?  IF HE'S ON THAT IF HE'S NOT ON ,HE IS BUT HE'S STILL NEEDED.  KNOW HE'S LAWYERS WITH US.  OKAY. YEAH.  HE'S NOT RESPONSIVE. SO IF HE FLEXES MIKE AGAIN,  I'LL I'LL HOLD IT FOR YOU. THANK YOU. THANK YOU MANAGER MY NEXT QUESTION WAS FOR JOHNNY IF HE'S ON YOU KNOW I'M A ROUGHLY PERCENT OF BPI STUDENTS EXPERIENCE ARE EXPERIENCING HOMELESSNESS RIGHT NOW.  CAN YOU GIVE US ANY INSIGHTS THAT YOU CAN SHARE ON THE IMPACTS THAT INCREASED RESIDENTIAL TAXES WOULD HAVE ON STUDENTS AND THEIR FAMILIES?  YEAH, THAT THE IMPACT WOULD BE WE WOULD DEFINITELY SEE MORE FAMILIES MOVE WHICH WOULD MEAN THEY WOULD MOVE OUT DPS AND AS YOU KNOW ONE OF THE. BUT AS SOON AS THAT ATTEND SCHOOLS AND BOSTON PUBLIC SCHOOLS AND HAVE THOSE FAMILIES LEAVE AND THEN LOAN THE INCOME REVENUE THEY CREATE FOR THE CITY OF BOSTON THAT WOULD BE MORE LOSS OF RESOURCES AND FOR THOSE HOMELESS FAMILIES ALREADY IT DOES NOT CREATE ANY REMEDY OR HELP THEM IN ANY WAY. NOW.  THANK YOU, JOHNNY. AND I JUST WANT TO REINFORCE AND I'M YOU KNOW, I'M REALLY CONCERNED ABOUT OUR RESIDENTIAL LANDS HERE AND ENSURING THAT OUR LONG TERM RESIDENTS I KNOW PEOPLE WHO WANT TO BE ABLE TO COME HERE ARE ABLE TO STAY HERE AND THRIVE HERE IN THE CITY OF BOSTON. SO I REALLY APPRECIATE THE COMMUNITY FEEDBACK, THE UNION FEEDBACK. AND AGAIN THANK YOU MADAM CHAIR ,FOR ALL THE WORK THAT YOU'RE DOING. THANK YOU.  THANK YOU, COUNSELOR SANTANA CHANCELLOR FITZGERALD AND AMITA MCGEE. EXCUSE ME . THANK YOU. GOOD MORNING EVERYONE. AND THANK YOU TO ALL THE PANELISTS THIS MORNING FOR TAKING THE TIME TO JOIN THIS VERY IMPORTANT CONVERSATION.  ONE FOCUS I'M A JOHNNY ARE I SIMPLE MIGHT BE ABLE TO HELP ME WITH THIS. WE HAD A CONVERSATION WITH SHEILA THEM AND THE CHIEF OF THE MAYOR'S OFFICE OF HOUSING LAST WEEK AT A HEARING AND SHE SAYS THAT ONE OF THE BIGGEST CHALLENGES WE SEE RIGHT NOW IS THAT THE NEXT LIKE A SQUARE IN THE MIDDLE OF A TSUNAMI OF DISPLACEMENT AND FOR ELDERS AND FOLKS WHO ARE RETIREES VERY OFTEN THEY'VE LIVED IN NATURALLY AFFORDABLE RENTAL FOR MAYBE 20, 30, 40 YEARS AND THEN THE THE OWNERS OF THOSE HOMES ARE ELDERS THEMSELVES AND THEY'RE SELLING OUT AND THESE ELDERS HAVE BEEN DISPLACED. SO I THINK OF THIS IF THIS IF WE DON'T ADDRESS THIS ATTACK TAX INCREASE TO REALLY TARGET AND SUPPORT THOSE NOT THREE AFFORDING AFFORDABLE RENTALS,  WE'RE GOING TO SEE EVEN MORE OF A PROBLEM FOR FAMILIES YOUNG FAMILIES BUT ALSO A LOT OF FOLKS LIVING ON RETIREES ON FIXED INCOME AND THEN SO MANY OF OUR WORKERS WHO ARE WORKING LOW PAID WORKERS IN CITY BUT WHO ARE ESSENTIAL TO THE GOOD WORKING OF THE CITY SO JOHNNY AND A SIMILAR ANYONE ELSE WHO WANTS TO SPEAK TO THIS ISSUE AND I'D LIKE TO HEAR FROM YOU.  THANK YOU COUNSELOR.  I CAN SPEAK TO IT FROM A PERSONAL EXPERIENCE SINCE I OWN THAT HOME IN 2004 AND MY RENT HAS BEEN CONSISTENTLY LOWER THAN THE MARKET RATE I DO THIS WORK. I KNOW THE IMPACT THAT IT HAS ON OUR FAMILY. ONE OF MY TENANTS HAS BEEN IN MY HOME SINCE 2007. THEY ARE YOU KNOW, THE ELDER PASS AND THE YOUNGER GENERATION IS THERE AND THEIR GROWING FAMILY I CAN'T IMAGINE HAVING TO PASS ON AND INCREASE THE RENT ON THIS FAMILY THAT HAS VERY GOOD HAS DONE NOTHING WRONG AND WOULD HAVE TO REALLY FIGURE A WAY OUT THE DOOR TO HELP TO PAY THAT COST.  SO IF IT'S HAPPENED IN PERSON THEN IT TO ME I CAN'T I CAN JUST IMAGINE WHAT INDIVIDUALS THAT ARE ON FIXED INCOME THAT DON'T HAVE ANY OTHER SOURCE OF INCOME HOW IT WOULD BURDEN THEM AS WELL.  THIS IS AN ISSUE THAT I THINK THE MAYOR HAS CAREFULLY THOUGHT OF AND HAS TRIED TO BALANCE THE IMPACT AND SOMEONE JUST TALK ABOUT INCOME THAT IS DISPOSABLE . RIGHT. IF I HAD TO TAKE THE FUNDS THAT I WOULD NOW CONSIDER DISPOSABLE AND PAY MORE TAXES THEN MY LOCAL BUSINESSES THAT I SUPPORT WOULD ALSO BE IMPACTED.  SO WE REALLY WILL HAVE A SIGNIFICANT IMPACT ACROSS THE BOARD IF WE DON'T DO WHAT IS PROPOSED. THANK YOU.  THANK YOU SO MUCH, JOHNNY. YEAH, AND I'LL ADD TO THAT BECAUSE AS A HOMEOWNER MYSELF SINGLE INCOME I'M NOT RETIRED YET BUT I UNDERSTAND YOU KNOW, IF YOU ARE A HOMEOWNER AND A RETIREE SINGLE INCOME ON A FIXED INCOME HOW IT AFFECTS YOU BECAUSE THE COST OF LIVING HAS GONE UP WHETHER IT BE PRESCRIPTIONS, TRANSPORTATION AND JUST IN GENERAL YOUR DAY TO DAY LIFE NOW YOU CAN'T DO ANYTHING EXTRA ON THAT FIXED INCOME WHICH OF COURSE IF THE FACT THAT THE RATE IS GOING TO HURT THEM EVEN MORE THEY MAY HAVE TO, YOU KNOW, FIND OTHER PLACES TO LIVE BECAUSE IT WILL DEFINITELY DISPLACE MORE OF OUR MEMBERS WHO SERVE THE CITY OF BOSTON. AND HOW COULD WE DO THAT TO PEOPLE THAT.  SO THE CITY OF BOSTON AND THAT'S WHERE I DON'T KNOW IF MY OTHER COUNCIL COLLEAGUES HAVE THIS EXPERIENCE BUT WE'RE ALREADY GETTING CALLS FROM TENANTS WHO SAY THAT THEIR LANDLORDS ARE INCREASING THEIR THEIR RENTS SIGNIFICANTLY IN ANTICIPATION OF THIS OF THIS THIS THIS CHANGE. YOU KNOW, SO THERE ARE THERE ARE NOT THOSE NATURALLY AFFORDABLE RENTALS BUT THERE ARE THERE ARE SOME LANDLORDS WHO ARE SEEING THIS AS AN OPPORTUNITY TO JACK UP THE RENTS AND TAKE ADVANTAGE OF A SITUATION WHICH IS RATHER RATHER CONCERNING.  BUT WE HAVE TO KEEP AN EYE ON ALL OF THAT. THANK YOU MADAM CHAIR.  I SEEK THE REST OF MY TIME IF I HAVE ANY LEFT CAN YOU DO IS ABOUT 30 SECONDS. NEXT UP WE HAVE COUNCILOR FITZGERALD AND THEN THE HERE AND THEN TONY FERNANDEZ HIMSELF. THANK YOU, MADAM CHAIR. AND THANK YOU FOR THE PANELS FOR YOUR TESTIMONY TODAY AT LOOK, NO ONE WANTS TO BURDEN THE RESIDENTS WITH MORE TAXES. I THINK THAT'S ACROSS THE BOARD. WE CAN ALL AGREE ON THAT FOR SELF PRESERVATION AND FOR WHO WE REPRESENT. BUT I WANT TO MAKE SURE I'VE GOT THE RHETORIC DOWN AND IT SEEMS THAT EVERYONE'S TALKING LIKE IT'S IT'S COMMERCIAL VERSUS RESIDENTIAL AND IT HAS TO BE ONE OR THE OTHER. I JUST WANT TO MAKE SURE WE'RE ALL OPERATING UNDER THE SAME TERMS AND PLEASE SOMEONE CORRECT ME IF I'M MISUNDERSTANDING THIS BUT THIS ISN'T ACTUALLY STOPPING AN INCREASE IN RESIDENTIAL RIGHT AND THIS IS JUST SPREADING IT OUT OVER THE COURSE OF FOUR YEARS. SO WHATEVER THIS INCREASE MIGHT BE IS STILL GOING TO COME AND IT'S JUST GOING TO BE SPREAD OUT.  AND SO MY WORRY IS IS FOR THE FOLKS THAT ARE SAYING THIS IS GOING TO DISPLACE US AND WEAR IT OUT, THEN WE STILL HAVE THAT CONCERN FOR THOSE FOLKS. THEY'LL PROBABLY BE FACING THAT IN TWO YEARS WHEN IT BUMPS UP TO, YOU KNOW, WHATEVER THIS INCREMENTAL STEP IS TO COVER THE RESIDENTIAL PORTION OF THE TAXES.  SO I WORRY ABOUT THAT STILL BEING A PROBLEM.  THIS PROPOSAL NOT SOLVING THAT ISSUE BUT ALSO POTENTIALLY AT THE SAME TIME DOING IRREPARABLE HARM TO OUR COMMERCIAL PROPERTIES WHICH IS OUR DOWNTOWN AND ON SMALL BUSINESSES. AND SO I JUST WANT TO MAKE SURE I HAVE THAT RIGHT THAT THIS THIS THIS PROPOSAL SORT OF I DON'T WANT TO SAY KICKS THE CAN DOWN THE ROAD BUT BUT IT'S SORT OF JUST FLATTENS OUT THE IMPACT BUT THE IMPACT IS STILL THERE.  AND I ALSO WANT TO BRING TO KNOW THAT IT SEEMS THAT IF IT'S COMMERCIAL VERSUS RESIDENTIAL THAT THERE'S STILL THE ISSUE OF WE CAN IT DOESN'T HAVE TO BE OR RESIDENTIAL THAT WHAT WE SHOULD TRY AND DO IS TIGHTEN THE BUDGET A LITTLE BIT, LOOK FOR ALTERNATIVE MEASURES THAT TO BRING MONEY INTO THE CITY WHETHER THAT'S NON-ESSENTIAL TAXING NON-ESSENTIAL GOODS OR OTHER STREAMS OF REVENUE AND THAT WAY WE DON'T HAVE TO OVERDO THE COMMERCIAL BUT WE ALSO DON'T HAVE TO LAY IT ON THE RESIDENTIAL. SO I THINK THERE IS A WAY HERE TO DO BOTH. THOSE ARE MY CONCERNS.  SO YOU KNOW, AGAIN, I DON'T THINK ANYBODY WANTS TO PUT THE TAX ON RESIDENTIAL AT ALL AND I DON'T THINK IT HAS TO BE A THIS OR THAT SCENARIO WHICH IT SEEMS A LOT OF THE RHETORIC I'M HEARING AND AGAIN, I JUST WANT TO REMIND FOLKS THAT THIS ISN'T A THIS OR THAT IT'S JUST THIS OR THIS AND THIS IN A COUPLE YEARS. AND SO I JUST WANT TO YOU KNOW, I THINK ABOUT THE INVESTMENTS AND THE BUSINESSES THAT BRING JOBS, TAX INCENTIVES, GROWTH AND INVEST IN OUR CITY HERE. I WANT TO THINK ABOUT THE SMALL BUSINESSES WHICH ARE OUR RESIDENTS AND PROVIDE THE UNIQUE SERVICES AND EACH NEIGHBORHOOD THAT THEY'RE ALLOWED TO PROVIDE AND WHAT IT DOES TO THEM BECAUSE I KNOW WE'RE HEARING FROM SOME SMALL BUSINESSES AS WELL IN MY OFFICE SAYING THAT THIS WOULD HURT THEM AND SO, YOU KNOW, TO ME I DON'T KNOW IF I HAVE A QUESTION TO ANYONE SPECIFIC AND I'M SORRY ABOUT THAT BUT I JUST WANT TO MAKE SURE ALL OPERATING UNDER THAT SAME UNDERSTANDING THAT THIS IS JUST SPREAD OUT OVER A COUPLE OF YEARS. THIS IS IN A SAVE THE RESIDENTS TAX THAT COMMERCIAL. THIS IS A WELL YOU'RE GOING TO HAVE TO PAY THAT FULL AMOUNT ANYWAY AND IN NOT THAT LONG A PERIOD OF TIME AND POTENTIALLY DOING IRREPARABLE HARM TO OUR DOWNTOWN CORE AND OUR NEIGHBORHOODS, SMALL BUSINESSES AND SO I WOULD WELCOME ANY FEEDBACK AGAIN, THIS IS JUST MY UNDERSTANDING TO ANY FOLKS THAT COULD I DON'T KNOW IF IT'S TO MY HEART, TO THE UNIONS, TO WHOEVER WHO MIGHT HAVE ANY REACTION TO THAT BECAUSE THAT'S THAT'S JUST HOW I'M READING IT AND I DON'T WANT TO I DON'T WANT TO OVERSIMPLIFY IT BUT I ALSO DON'T I WANT TO MAKE SURE I'M UNDERSTANDING IT CORRECT.  AND THANK YOU, COUNCILOR . I APPRECIATE THAT AND I AM BY NO MEANS AN EXPERT HERE. I AM JUST GOING TO TRY TO RESPOND TO WHAT YOU HAVE JUST STATED FROM A PERSONAL PERSPECTIVE AND I THINK THE RESIDENTS THAT I REPRESENT WOULD THINK THIS WAY IF I HAVE TO PAY $1,000 OVER FOUR YEARS, $200, $250 PER YEAR, IT WOULD SOFTEN THE BLOW FOR ME OVER PAYING $1,000 UPFRONT IN ONE YEAR. I THINK IT WOULD GIVE ME AN OPPORTUNITY TO PLAN FOR THE FUTURE. HOPEFULLY THE CITY BY THEN WOULD HAVE SOME WAY TO MITIGATE ME HAVING TO PAY, YOU KNOW, MORE THAN I SHOW THAT AT A LATER DATE THE THE POINT THE THING IS THAT THIS IS NOT A NEW PROCESS. THIS IS SOMETHING THAT IS WORKED IN TWO SEPARATE OCCASIONS. SO WE HAVE DATA TO PROVE THAT THIS WILL HELP TO MITIGATE WHAT WE ARE TRYING TO DO TO SOLVE FOR HERE. AND I PERSONALLY UNDERSTAND AND THE PEOPLE THAT WE REPRESENT IN AS MUCH AS WE CAN EDUCATE EDUCATING THEM TO SAY THIS IS NOT TO SAY YOUR TAXES WILL NOT INCREASE BUT THAT IT WILL BE A MORE OF A SHARED PROCESS WHERE BUSINESS WILL WILL BURDEN SOME OF IT SO IT'S NOT US VERSUS THEM SITUATION THAT I UNDERSTAND AND SO THAT'S I'M NOT SURE THAT'S TIME THAT YOU ARE THAT'S A GOOD THANK YOU.  THANK YOU SO MUCH COUNCILOR . GOOD MORNING, FRIENDS. I'M HAPPY TO BE AMONG THOSE COMMUNITY ACTIVISTS AND FOLKS WHO ARE OUT IN THE STREET SO HAPPY TO HEAR EVERYONE WHO HAS CHIMED IN SO FAR.  I THINK THAT FOR ME MOST OF MY QUESTIONS ARE GOING TO BE FROM THE SECOND PANEL BECAUSE WHAT I THINK ABOUT THIS WORK THIS IS MY OWN LITTLE EXPERIENCE. IT'S SO GOOD TO SEE YOU ALL. I AM A FIRST TITLEHOLDER. MY MOM IS ABLE TO LIVE NEXT DOOR.  MY BROTHER AND I SHARE THE OTHER SIDE. AND AS A FAMILY WE WERE ABLE TO STABILIZE CONTAGIONS CONSTANTLY BECAUSE OF THAT. AND PRIOR TO THAT I WAS AT THE PLACE THAT I RENTED WAS FROM AN ELDER WHO GAVE ME UPDATES ABOUT SO THAT MY DAUGHTER AND I TALKED WITH PEOPLE BUT SHE WAS ONLY ABLE TO DO THAT BECAUSE SHE WAS ABLE TO AVOID THAT. AND SO I UNDERSTAND THE FINANCIAL IMPACT OF THIS TO HAVE ON OUR RESIDENTS AND I ALSO THINK THERE'S AN OPPORTUNITY FOR US TO LOOK AT SYSTEMIC CHANGES THAT WE NEED TO DO WHILE I APPRECIATE, YOU KNOW, THE WHOLE CONVERSATION THAT I JUST HEARD COMES UP IT'S GENERAL LIKE THE SOLIDARITY WHICH IS WHAT BOSTON IS REALLY GOOD AT IS PUTTING PEOPLE AGAINST EACH OTHER BECAUSE HAVING WORKED IN THE EDUCATION SPACE IN 2016 I WAS EITHER GOING TO BE FOR CHARTER SCHOOLS LIKE WELL FOR PUBLIC SCHOOLS I THINK THAT'S BETWEEN ONE AND THE OTHER AND THAT'S THAT MENTALITY DOESN'T GET US ANYWHERE BECAUSE THE PEOPLE WHERE MOST OF US ARE THE ONES THAT ARE NOT INVOLVED IN THESE CONVERSATIONS IS WHY I'M SO HAPPY TO SEE SO MANY UNION LEADERS AND RESIDENTS HERE ENGAGED IN SOMETHING THAT IS GOING TO IMPACT THEIR LIVES. SO I'M REALLY HAPPY TO SEE THIS LEVEL OF ENGAGEMENT.  HOWEVER, I WOULD LOVE TO TALK A LITTLE BIT ABOUT A THIRD WAY FORWARD WHICH IS WHEN WE ACTUALLY GET STUCK BECAUSE JUST GETS SO SINGLE MINDED BY THE WAY.  BUT WE HAVE A PILOT WE HAVE A LOT OF HOSPITALS NOW WHICH I READ INSTITUTIONS THAT ARE NOT PAYING THEIR FAIR SHARE BEING THE CITY OF BOSTON.  THEY GET A PASS. I THINK THAT AS WE CONTINUE TO GRAPPLE WITH THIS WE HAVE TO START THINKING ABOUT THE LONG GAME EACH YEAR AND HOW WE HOLD OUR. YOU NORTHEASTERNERS AND ALL THESE OTHER FOLKS ACCOUNTABLE TO DOING THEIR PART. AND I THINK THAT THIS CONVERSATION COULD LEAD US TO THAT DIRECTION IN WHICH WE'RE LOOKING AT ALTERNATIVES BUT THAT DOESN'T PICK ONE GROUP AGAINST THE OTHER AND I THINK THAT THAT SHOULD BE A PART OF THE CONVERSATION. AND MOST OF MY QUESTIONS WILL COME TO THE THE OTHER PANELIST BECAUSE I WANT YOU ALL HERE. I KNOW WHO YOU ARE. I KNOW WHAT YOU FIGHT FOR AND I FIGHT ALONGSIDE YOU ARE THOSE FOLKS. SO MY QUESTIONS ARE NOT WITH YOU. ALL OUR QUESTIONS ARE WITH OTHER FOLKS WHO GOT THAT MONEY WHO CAN HELP US UNDERSTAND THIS OUT. SO I RESERVE MY TIME FOR THOSE FOLKS. THANK YOU.  THANK YOU, COUNCILOR MEJIA. AND JUST AS A REMINDER FOR FOLKS WHO MIGHT HAVE COME LATELY DO HAVE TWO MORE PANELS WHICH INCLUDE REAL ESTATE INTERESTS AND ALSO THE BOSTON MUNICIPAL RESEARCH GROUP AND THEN THE ADMINISTRATION PANEL IS ALSO GOING TO BE HERE.  I WILL JUST NOTE SEPARATELY THAT COUNCILOR MEJIA THEY BRING UP A GOOD POINT ABOUT PILOT.  THAT'S SOMETHING THAT I HAVE ALSO LOOKED INTO. I KNOW COUNCIL BRITAIN HAS BEEN DOING EXCELLENT WORK ON THIS COUNCIL PRESIDENT RICHARD LOUIJEUNE THERE'S BEEN SO MANY HANDS WHEN IT COMES TO PILOTS. WE LOOKED INTO THIS WITH THE ADMINISTRATION. WE CAN ASK THEM ABOUT WHAT THAT PROGRESS LOOKS LIKE ON THEIR END AND THEN ALSO I AM HEARING BOTH FROM COUNCILOR MEJIA AND COUNCILMAN FITZGERALD ABOUT LOOKING AT A YES AND OPTION RATHER THAN AN EITHER OR. AND SO I YOU KNOW, WE'VE BEEN LOOKING AT CARVE OUT FOR SMALL BUSINESSES AND SO THAT'S JUST A PREVIEW INTO SOME OF MY QUESTION FOR THE ADMINISTRATION. I'M I'M REALLY EXCITED ABOUT THAT POTENTIAL IDEA.  I WOULD LOVE TO HAVE PARTICIPATION FROM MY COLLEAGUES AND IT'S GOING TO BE A LONG DAY BUT I WOULD REALLY LOVE YOUR THOUGHTS ON THAT WHEN IT IS PRESENTED. OKAY. WE WILL GO TO COUNCILOR FERNANDEZ ANDERSON,  COUNCILOR ED FLYNN AND THEN COUNCILOR AND MURPHY.  GOOD MORNING. THANK YOU, MADAM CHAIR. SIMILAR TO COUNCIL ME HERE MY QUESTIONS ARE FOR THE PANELISTS BUT I'D LIKE TO THANK EVERYONE HERE UNION MEMBERS AND PRESIDENTS AND MAHA AND OTHER FOLKS WHO ARE HERE TESTIFYING OR PART OF A PANEL LIKE COUNCILOR FITZGERALD. I DO SEE HIS POINT. HOWEVER, WE DO HAVE BEST PRACTICES TO REFERENCE HERE WHERE IN 2004 IT WAS ACTUALLY EFFICIENTLY IMPLEMENTED. SO I WANT TO GET INTO THE CONVERSATION. I THINK THE CONCERN IS BOTH ON BOTH SIDES CERTAINLY IN TERMS OF WHEN WE'RE TALKING ABOUT DISPLACEMENT AND THE FACT THAT YOU KNOW, SMALL BUSINESS AND I TOO HAVE RECEIVED A LOT OF EMAILS REQUESTING THAT I NOT SUPPORT THIS BECAUSE A SMALL BUSINESS CONCERN BUT WHEN WE'RE TALKING ABOUT DISPLACEMENT WE KNOW THAT SMALL BUSINESS IN GENERAL EMPLOYS THE MOST PEOPLE OF COLOR. AND SO IF WE'RE DISPLACING SMALL BUSINESSES AND WE'RE ALSO DISPLACING PEOPLE RESIDENTIALLY SO OF COURSE AND SO I SHARE JAMIE'S POINT ABOUT, YOU KNOW, LOOKING AT BOTH SIDES AND PROPERLY UNDERSTANDING THE SETTING AND BALANCING IT OUT. BUT I DO SHARE FITZGERALD'S POINT ABOUT SORT OF THE STEP DOWN GRADUAL IMPLEMENTATION AND LOOKING AT OR AT LEAST TRANSPARENT AND PROPERLY COMMUNICATING TO THE COMMUNITY. I'LL HAVE A LOT OF COMPANY A LOT OF CONCERNS OR QUESTIONS ABOUT COMMUNITY IMPLEMENTATION OR ENGAGEMENT IN JUST ENSURING THAT THE PUBLIC IS COMING ALONG WITH US AND UNDERSTANDING EXACTLY STEP BY STEP HOW WE PLAN ON DOING THIS RESPONSIBLY. SO LOOKING FORWARD TO THE CONVERSATION MORE QUESTIONS BEFORE I CAN ACTUALLY OBVIOUSLY VOICE A POSITION ON THIS. THANK YOU SO MUCH.  THANK YOU COUNCILOR EDWIN THANK YOU MADAM CHAIR AND THANK YOU FOR THE WORK YOU'RE DOING, MADAM CHAIR AND THANK YOU FOR THE PANEL THAT IS ALSO TESTIFYING AS WELL.  I REPRESENT MANY OF YOU KNOW THAT I REPRESENT THE AREA IN DOWNTOWN BOSTON ALSO BACK BAY,  THE SOUTH BEND WHERE A LOT OF THESE THE SOUTH BOSTON WATERFRONT WHERE A LOT OF THESE BUSINESSES ARE BUSINESSES PROPERTY OWNERS HAVE REACHED OUT TO ME AND ARE CONCERNED ABOUT THE PLAN AND YOU KNOW, I AM SOMEWHAT CONCERNED ABOUT THE US VERSUS THEM DISCUSSION THAT IS TAKING PLACE. I'D RATHER US WORK TOGETHER IN UNDERSTAND BUT ALSO RESPECT THE ROLE THE BUSINESS COMMUNITY DOES PLAY IN OUR CITY. THERE CONTRIBUTE HEAVILY TO THE CITY OF BOSTON THROUGH TAXES.  THEY ALSO SUPPORT A LOT OF NONPROFITS AS WELL.  THEY'RE STRUGGLING RIGHT NOW ESPECIALLY AND IN MY DISTRICT AS I MENTIONED THE SOUTH BOSTON WATERFRONT, DOWNTOWN BOSTON AND MY GOAL WAS REALLY TO GET THEM BACK TO WORK CONSISTENTLY FIVE DAYS AND GET THE CITY BACK TO WORK CONSISTENTLY FIVE DAYS A WEEK.  SO I'M JUST I JUST WANT US TO ALSO THINK ABOUT THE IMPORTANT CONTRIBUTIONS THAT BUSINESSES HAVE PLAYED IN OUR CITY AND MANY OF THESE BUSINESS LEADERS HAVE BEEN HERE SUPPORTING THE CITY DURING GOOD TIMES IN DIFFICULT TIMES IN OUR CITY. BUT I DON'T WANT US TO FORGET THE FACT THAT THEY ARE ALSO OUR NEIGHBORS. THEY ARE ALSO THEY ALSO HIRE MANY OF OUR NEIGHBORS AND IN RESIDENTS AS WELL.  SO I THINK THERE HAS TO BE A BALANCE. I THINK WE'RE THEIR VIEWS HAVE TO BE HEARD AND RESPECTED AS WELL. MAYBE MY QUESTION WILL GO TO WE'LL GO TO PHIL IF I MAY, MADAM CHAIR, IF IF TAXES ARE RAISED ON BUSINESSES IN THE DOWNTOWN AREA IN THE SOUTH BOSTON WATERFRONT, WHAT WHAT IMPACT WILL IT HAVE ON CITY'S FINANCES AND HAVE WE THOUGHT ABOUT THE IMPACT IT WOULD ALSO HAVE ON NONPROFITS THAT ARE SUPPORTED BY MANY BUSINESSES AS WELL? ARE WE ALSO FACTORING THOSE ISSUES AND DURING THIS DEBATE AND I JUST WANT TO JUST ASK PHIL HOWEVER ELLIS WOULD BE INTERESTED IN ANSWERING IT.  COUNCILOR FLYNN I DON'T KNOW IF WE HAVE SELL ON ANYMORE. I WOULD SAY THOUGH THIS COULD ALSO BE A QUESTION THAT'S ASKED OF THE ADMINISTRATION WHEN THEY WHEN THEY COME ON ALTHOUGH IF ANYBODY WANTS TO ANSWER THAT THE FLOOR IS OPEN AND STAYING HEARING NOBODY'S STEPPING IN WHEN WOULD YOU BE OKAY ASKING THAT FROM THE ADMINISTRATION AND WE CAN ALSO SUBMIT IT FORMALLY TO SO TO ANSWER IF YOU'D LIKE.  THAT'S A GREAT IDEA. THANK YOU MADAM CHAIR. THANKS FOR GIVING ME THE TIME TO ASK THE QUESTION AND TO GIVE A COUPLE COMMENTS. THANK YOU.  THANK YOU, COUNCILOR FLYNN. COUNCILOR ERINN MURPHY AND THEN WEBER AND MAURO COUNCILOR MURPHY, ARE YOU STILL WITH US?  I THINK SHE MIGHT HAVE HAD TO DROP WE'LL CIRCLE BACK TO HER. WE'LL GO TO COUNCILOR WEBER AND THEN WE'RE UP.  THANK YOU, CHAIR. THANK YOU. THANKS TO EVERYONE FOR SHOWING UP TODAY AND FOR YOUR TESTIMONY. I JUST YOU KNOW, WE HEARD FROM THERE AND ASHLEY BAILEY FROM FROM MY DISTRICT IN JAMAICA PLAIN. I DON'T THINK SHE'S ON ANY MORE IF SHE OR SHE CAN ANSWER. BUT I GUESS SIMON CRAWFORD, YOU MIGHT BE ABLE TO ANSWER MY QUESTION IS FOR LIKE A SMALL TIME A SMALL LANDLORD, SOMEBODY OWNS A COUPLE APARTMENTS MAYBE THEY'RE THEY'RE AN OWNER OCCUPIER. YOU KNOW, WHAT IS THE IMPACT ON THAT PERSON IF WE DON'T TAKE ANY ACTION AND YOU KNOW, THE RATES AS EXPECTED FOR RESIDENTIAL REAL ESTATE TO TAXPAYERS GOES UP LET'S SAY 17% IN A YEAR. DID YOU KNOW WHAT IMPACT THAT WOULD HAVE ON A SMALL TIME LANDLORD AND ON THEIR TENANTS AND MY PROJECTION OR SOME INFORMATION IS THAT IT WOULD FORCE THOSE LANDLORDS TO PASS ON THE COST TO THEIR TENANTS. IT WOULD MOST LIKELY OR COULD POTENTIALLY DISTORT THIS DISLOCATE A LOT OF OUR TENANTS THAT ARE ON FIXED INCOME ESPECIALLY SENIORS OR SINGLE INCOME TENANTS. IT COULD REMOVE A LOT OF THE NATURALLY OCCURRING LOW INCOME RENTAL HOUSING THAT IS IN THE CITY THAT LANDLORDS AND OR UNOCCUPIED LANDLORDS ARE PROMOTING RIGHT NOW INCLUDING MYSELF.  I CAN NOT EVEN IN THE POSITION THAT I'M IN TODAY I CANNOT IMAGINE ABSORBING A 17% TAX INCREASE ON TOP OF MY INCREASE IN COSTS TO KEEP MY RENTAL PROPERTY IN LIVABLE CONDITIONS AND THE COST TO, YOU KNOW, MITIGATE THE COSTS OF HOMEOWNERS INSURANCE AND ANYTHING THAT COMES DOWN THE PIKE. SO I CAN'T IMAGINE IT NOT BEING A NEGATIVE IMPACT. I ALSO DO UNDERSTAND THAT THE BURDEN HAS TO BE SHARED AND SO THERE WILL BE SOME IMPACT THERE. I JUST CAN'T SEE IT NOT HAVING A NEGATIVE IMPACT ON OUR AND OUR RESIDENTS.  I JUST DO YOU KNOW THAT LIKE IF THERE'S A YEAR LONG LEASE RATE IS IT THAT SIMPLE THAT A SMALL LANDLORD COULD JUST RAISE THE RENTS IN THE TENANCY?  OKAY LIKE THEY WERE LIKE WE'D HAVE TO WAIT TO THE END OF THE LEASE OR COULD THEY DO IT IN THE MIDDLE? IT DEPENDS. MOST OWNER OCCUPIED LANDLORDS HAVE MONTH TO MONTH LEASE BECAUSE EVEN IF A TENANT SIGNED THE LEASE AT THE BEGINNING OF THE PROCESS IT'S MOST TIMES NOT RENEWED IN AN ANNUAL BASIS IT'S JUST BECOMES A MONTH TO MONTH. THESE AFTER THAT FIRST LEASE RUN OUTS OR A SIGNIFICANT AMOUNT OF UNOCCUPIED LANDLORD HAS THE POTENTIAL TO RAISE THE RENT AT ANY POINT IN TIME AFTER THAT FIRST YEAR. YEAH THAT'S IF YOU'RE PAYING MONTH'S RENT MONTHLY YOU KNOW GENERALLY IT'S YOU'RE JUST AT THE END OF EVERY MONTH AFTER YOU HAVE A NEW LEASE FOR THE NEXT MONTH. SO YEAH NO I AGREE WITH THAT. I THINK MOST YOU KNOW WE HAVE A LOT OF PANELISTS LEFT TO GO SO I'M JUST GOING TO PLAY IN THE NAME OF EFFICIENCY. I'LL THANK YOU FOR THE ANSWER. I'LL BACK TO YOU CHAIR IF YOU CAN. SO EVERYBODY COUNCIL MURPHY HAS JOINED US AGAIN. COUNCILOR MURPHY YOU HAVE THE FLOOR. THANK YOU AND THANK YOU FOR THIS PANEL. I HAVE A FEW QUESTIONS THAT HAVEN'T ALREADY BEEN ASKED AND I'M ALSO JUST AFRAID THAT WE'RE GOING TO BE GIVING FALSE HOPE LIKE WHAT IS THE PLAN B? WE HAVE OTHER OTHER TAX MEASURES THAT WE CAN LEAN ON AND I KNOW IT WAS MENTIONED ABOUT PILOT BUT OTHER OPTIONS AND MY CONCERN IS IF IT PASSES HERE ON THE COUNCIL , WHAT IF IT DOESN'T PASS UP AT THE STATE HOUSE WE'RE GOING TO BE BACK IN THE SAME SITUATION SO I DO THINK WE HAVE TO LOOK AT ALL THE OTHER OPTIONS THAT WE COULD WADE THROUGH SO WE'RE NOT THEN PUT IN A TIME CRUNCH IF IT COMES BACK FROM THE STATE HOUSE NOT PASSING IN LIKE ARE WE LOOKING TO REDUCE SPENDING?  I KNOW THAT THIS UPCOMING BUDGET HAS INCREASED SPENDING BY 8%. I KNOW THAT LEANING ON PILOT AND OTHERS AND ALSO MY CONCERN ABOUT THE COMMERCIAL PROPERTY TAX IT'S ALL BUSINESSES. SO WE HAVE THESE SMALL COFFEE SHOPS THAT WE'RE SUPPORTING.  WE HAVE LEGACY BUSINESSES THAT WE'RE TRYING TO GIVE GRANTS TO TO STAY OPEN AND IT'S NOT JUST THESE BIG CORPORATE ACTIONS OR THESE BIG DOWNTOWN BUILDINGS THAT I DON'T LIKE THE THE NARRATIVE THAT IT'S YOU KNOW, THESE VERY WEALTHY COMPANIES THAT CAN TAKE THIS HIT OR HOLD OFF LONGER. BUT THE REALITY IS MANY OF OUR SMALL BUSINESSES THAT EMPLOY SO MANY OF OUR RESIDENTS SO IT'S A CYCLE OF KEEPING THEM FINANCIALLY HEALTHY AND OPEN SO THAT THEY CAN EMPLOY THE RESIDENTS AND PROVIDE A SERVICE TO THE CITY. SO THOSE ARE THE CONCERNS I HAVE AND NOT SURE IF ANYONE ON THIS PANEL WANTS TO ADDRESS THOSE. I KNOW THAT IN THE NEXT COUPLE OF PANELS THOSE MIGHT BE ANSWERED BUT I WANT TO GET THOSE ON THE RECORD.  THANK YOU COUNCILMAN MURPHY. I I FLOOR IS OPEN TO FOLKS BUT IT DOESN'T SEEM LIKE ANYBODY IS . EXCUSE ME , TOM, YOU UNMUTED? WOULD YOU LIKE TO ANSWER? SURE, COUNCILOR , IF I MAY. YOU KNOW FROM FROM MY PERSPECTIVE, YOU KNOW HIGHER TAXES ARE HIGHER TAXES, YOU KNOW, AND IT'S IMPACTFUL TO, YOU KNOW, THE MOM AND POP UP ESTABLISHMENTS AS WELL AS OUR OUR MEMBERS AND YOU KNOW, HIGHER TAXES LEAD TO LOWER UNEMPLOYMENT AND YOU KNOW, AS I'M NOT SPEAKING FOR YOU KNOW, THE REST OF THE UNION LEADERS ON THIS YOU KNOW, ON THE ZOOM CALL BUT YOU KNOW, IT'S OUR JOB TO MAKE THESE POSITIONS AND PROVIDE SERVICES FOR THE CONSTITUENTS OF RESIDENTS OF BOSTON AS ATTRACTIVE AND SECURE AS POSSIBLE AND YOU KNOW, WE SUPPORT THIS LEGISLATION THAT THE MAYOR IS PUTTING FORTH. YOU KNOW, SO OUR MEMBERS DO NOT GET PRICED OUT AND IF YOU HAVE MEMBERS THAT HAVE RESIDENCY SO I DO AGREE I KNOW WITH JOHN IF I COULD ASK YOU A DIRECT QUESTION WHEN YOU WERE TALKING ABOUT THE CONCERN WHERE YOU ONLY TALKING ABOUT FAMILIES WHO ARE ENROLLED IN BPC OR WERE YOU TALKING ABOUT THE TEACHERS UNION I WAS TALKING ABOUT BOTH THE FAMILIES AND THE EDUCATORS IN SYDNEY EDUCATORS DON'T HAVE A RESIDENCY REQUIREMENT SO I'M SORRY . YEAH, WELL I WAS REFERRING TO THE RESIDENCY REQUIREMENT FOR CLARIFY I MIGHT HAVE MISSPOKE THERE. OH YES. NO THAT'S FINE. I WAS WONDERING BECAUSE I MEAN I HOPE I KNOW THAT WE DO HAVE LIKE CITY WORKERS, MUNICIPAL WORKERS I KNOW SOME PERSONALLY THAT DO LIVE IN CARS AND I DON'T AS A TEACHER I DON'T KNOW ANY TEACHER THAT HAS THOSE FINANCIAL CONSTRAINTS.  I'M NOT SAYING THAT THEY'RE ALL IN A GOOD POSITION AND ANY RAISING TAXES WILL AFFECT EVERYONE. I AGREE BUT JUST WONDERING IF YOUR BECAUSE IF YOU'RE REFERRING TO THE FAMILIES THANK YOU FOR ADVOCATING FOR THEM BECAUSE IT'S IMPORTANT THAT YOU'RE SUPPORTING THEM ALSO I WILL SAY THAT I HAVE HAD TO ADVOCATE FOR PARAPROFESSIONALS THAT HAVE BEEN HOMELESS AND FIND RESOURCES IN CITY COUNCIL COUNCILS HAVE BEEN HELPFUL WHEN I CALL THE OFFICE TRYING TO FIND RESOURCES FOR THEM KNOW THAT SOME PARAPROFESSIONALS ARE PAID AS WELL AS TEACHERS FOR OBVIOUSLY MANY REASONS BUT YEAH. OKAY. THANK YOU.  THANK YOU CHAIR THANK YOU COUNCILOR MAYBE I SHOULD ENCOURAGE THOSE QUESTIONS BE OUT OF THE ADMINISTRATION'S THAT HEAR DIRECTLY FROM THEM TO OKAY NEXT UP WE HAVE COUNCILOR THANK YOU CHAIR AND THANK YOU TO THE PANEL AND EVERYONE WHO CAME TO TESTIFY TODAY.  YOU KNOW AFFORDABILITY IS ONE OF MY BIGGEST CONCERNS.  YOU KNOW, ON THE COUNCIL WE HAVE PUT MONEY TOWARD DOWN PAYMENT ASSISTANCE, HOMEOWNERSHIP VOUCHERS JUST TO MAKE SURE THAT WE'RE HELPING OUR RESIDENTS MAKE BOSTON AN AFFORDABLE PLACE. I GUESS WHAT WHAT I HEAR A LOT RIGHT NOW EVEN TO THIS DAY WHEN I GO VISIT MY SENIOR CENTERS IS TAXES CONTINUE TO BE A PROBLEM AND THE INCREASES THAT THEY'RE EXPERIENCING RIGHT NOW IT'S SOMETHING THAT THEY'RE STRUGGLING WITH. BUT I DO BELIEVE THAT THIS TAX MEASURE DOES TAX CLASSIFICATION DOES SMOOTHED OVER FOR THE NEXT FIVE YEARS. BUT WHAT MY REAL CONCERN IS IS LIKE WHAT REALLY WHAT HAPPENS IN YEAR SIX, SEVEN AND EIGHT ONCE THAT TAX CLASSIFICATION HAS BEEN LIFTED AND I GUESS THIS IS LIKE A QUESTION FOR THE ADMINISTRATION TO SEE IF THEY HAVE DONE ANY FORECASTING ON THIS SO THAT WE KIND OF KNOW WHAT THEY TAKE TO REALLY GIVE A REAL IMAGE TO OUR CONSTITUENTS IN OUR RESIDENTS ON WHAT HAPPENS, WHAT THIS HAS LIFTED. SO THAT THAT'S A QUESTION FOR THE ADMINISTRATION AND I DO AGREE WITH SOME OF MY OTHER COLLEAGUES WHEN THEY MENTIONED WE HAVE TO START THINKING ABOUT OTHER REVENUES. I REALLY DO BELIEVE THAT THIS TASK CLASSIFICATION NEEDS TO BE PAIRED WITH SOMETHING ELSE AS THIS IS REALLY A REVENUE QUESTION THAT WE'RE REALLY TRYING TO SOLVE FOR. SO LOOKING FORWARD TO THE TO THE NEXT ADMINISTRATION AND ALSO JUST ONE ECHO THE CONCERNS THAT EVERYONE WHEN WE THINK ABOUT COMMERCIAL, COMMERCIAL, COMMERCIAL IT'S ABOUT MAYBE THE DOWNTOWN AND THE BIG SKYSCRAPERS BUT THIS WILL ALSO HIT OUR MOM AND POPS OUR BUSINESS DISTRICTS ARE COMMENTS WHERE I MATTAPAN SQUARE AND I GROW UP ON SQUARES AND PROTECTING THOSE BUSINESSES IS SOMETHING THAT I'M CONCERNED ABOUT AS WELL SO I'M JUST LOOKING FORWARD TO CONTINUE CONVERSATION INTO THE NEXT PANEL BUT JUST WANT TO JUST PUT OUT THERE LIKE WHAT HAPPENS IN YEARS SIX, SEVEN AND EIGHT IN THIS SCENARIO AND LIKE ONE OF THE OTHER REVENUE GENERATING TOOL THAT WE'RE LOOKING TO IMPLEMENT HERE IN THE CITY OF BOSTON NEXT?  THANK YOU COUNCILOR UM THANK YOU SO MUCH FOR OUR PANELISTS AND PUBLIC TESTIMONY PARTICIPANTS. I DON'T HAVE ANY QUESTIONS FOR YOU THAT'S THE BENEFITS OF GOING LAST BUT I JUST WANT TO EXPRESS GRATITUDE FOR YOUR TIME AND COMMITMENT TO ENSURING BOSTON REMAINS AFFORDABLE AND LIVABLE FOR EVERYBODY. I WILL JUST CALL IT THE FACT THAT YOU YOUNG HOMEOWNERS I HEAR FROM THEM ALL THE TIME THEY ARE ESPECIALLY MILLENNIALS. THEY ARE BURDENED WITH MORE STUDENT LOAN DEBT THAN GENERATIONS BEFORE THEM CAR PAYMENTS JUST GENERAL A COST OF LIVING. AND SO I FEEL LIKE WE ARE TRYING OUR BEST TO EXPAND HOMEOWNERSHIP FOR THIS FOR MILLENNIALS AND GEN Z AND AN INCREASE IN PROPERTY TAX IS JUST ANOTHER HURDLE IN MY OPINION AND I JUST WANT FOLKS TO KNOW THAT I HEAR YOU AND I UNDERSTAND THAT THIS COULD HAVE SWEEPING IMPLICATIONS TO CITY WORKERS AND TEACHERS AND FIREFIGHTERS AND PUBLIC SERVANTS AND OTHER WORKING PEOPLE AND THE CITY OF BOSTON ESPECIALLY RENTERS WHO MAKE UP TWO THIRDS OF BOSTON'S POPULATION. SO JUST THANK YOU ALL SO MUCH. YOU ALL ARE EXCUSED. YOU CAN STAY ON BUT I'M SURE THAT CENTRAL STAFF WILL MOVE YOU FROM PARTICIPANT TO ATTENDEE NOW IF IT'S OKAY I'LL SIGNAL TO CENTRAL STAFF TO MOVE OUR NEXT PANEL RIGHT NEXT TO PANELS OVER SO WE HAVE MARTY WALSH FROM THE BOSTON MUNICIPAL RESEARCH BUREAU, THE INTERIM PRESIDENT WE HAVE MATTHEW OSBORNE OSBORNE WHO'S THE EXECUTIVE VICE PRESIDENT AND CHIEF CREATIVE OFFICER FROM EASTERN BANK. WE ALSO HAVE JOE SWIFT WHO'S THE PRINCIPAL OF PROPERTY TAX MASSACHUSETTS RYAN LLC AND WE ALSO HAVE MEG MAYNOR MAINZER COHEN, PRESIDENT AND EXECUTIVE DIRECTOR OF THE BACK BAY ASSOCIATION.  WE'VE WE ALSO INVITED TAMARA SMALL FROM NIAL WHO COULD NOT MAKE IT AS WELL AS JIM RONEY FROM THE BOSTON CHAMBER OF COMMERCE WHO COULD NOT MAKE IT BUT THEY DID SUBMIT A WRITTEN TESTIMONY FOR COUNCILORS TO REVIEW AND THAT IS AVAILABLE WITHIN THE FILE THAT MEGAN KAVANAUGH HAD SENT EARLIER TODAY. AND WHILE OUR OH EXCUSE ME IN THE ADMINISTRATION IS WALTERS WE HAVE ASHLEY GRAFTON BURGER, CFO OF THE CITY OF BOSTON. WE ALSO HAVE NICHOLAS MARINELLO ,OUR REGIONAL COMMISSION COMMISSIONER OF ASSESSING THE CITY OF BOSTON.  AND WHILE FOLKS SETTLE IN I JUST WOULD LIKE TO READ A LETTER OF ABSENCE FROM BOSTON CITY COUNCILOR SHARON DURKIN OF DISTRICT EIGHT WHICH READS GOOD MORNING CHAIR CARLOTTA ZAPATA I WANTED TO EXTEND MY REGRET FOR MY ABSENCE FROM THIS MORNING'S HEARING.  THE ECONOMIC SITUATION WE FIND OURSELVES IN RIGHT NOW REQUIRES A RESPONSIBLE CITY RESPONSE TO PROTECT RESIDENTS OF BOSTON AND THE MAYOR'S PROPERTY TAX CLASSIFICATION PROPOSAL. AS MEANINGFUL ENOUGH TO PROTECT RESIDENTS FROM FINANCIAL BURDENS BUT REASONED ENOUGH TO SUPPORT OUR COMMERCIAL LANDSCAPE, THE FACT THAT THE CITY OF BOSTON SUCCESSFULLY TEMPORARILY IMPLEMENTED THIS TAX CLASSIFICATION CHANGE NEARLY TWO DECADES AGO IS A TESTAMENT TO THE NEED TO HAVE THIS AS A TOOL IN OUR TOOLBOX TO PROTECT RESIDENTS FROM A POTENTIAL SPIKE IN TAXES. I PLAN TO SUPPORT THIS PROPOSAL. SINCERELY, SHARON DURKIN,  BOSTON CITY COUNCILOR DISTRICT EIGHT SO WITH THAT I WOULD LOVE TO HAVE MARTY WALZ START AND THEN WE CAN GO TO MATTHEW DANIEL AND THEN MEG MARTY.  YOU NOW HAVE THE FLOOR. THANK YOU SO MUCH FOR JOINING US. GREAT. GREAT TO BE WITH YOU. FOR THOSE WHO DON'T KNOW ME , MY NAME IS MARTY WALZ.  I'M THE INTERIM PRESIDENT OF THE BOSTON MUNICIPAL RESEARCH BUREAU. WHEN I TESTIFIED AT THE PRIOR HEARING, WE HAD NOT YET PUBLISHED OUR ANALYSIS OF THE TAX CLASSIFICATION PROPOSAL. I HOPE YOU HAVE SEEN THAT REPORT THAT ANALYZES THE PROPOSAL AS WELL AS SUGGEST ALTERNATIVES TO THE HOME RULE PETITION THAT WE HOPE THE CITY COUNCIL WILL CONSIDER. SO THE QUESTION AT HAND SORT OF PUT A FINE POINT ON IT IS WHETHER BUSINESSES SHOULD TAKE ON SOME OR ALL OF THE FINANCIAL BURDEN THAT MAY BE CAUSED BY A POTENTIAL INCREASE IN RESIDENTIAL PROPERTY TAXES. SO WOULD YOU SEEK TO ANSWER THAT QUESTION? THERE'S TWO TOPICS THAT I WANT TO COVER TODAY. THE FIRST IS POTENTIAL CHANGES TO THE HOME RULE PETITION ITSELF.  AND THEN THE SECOND TOPIC I WANT TO COVER ARE ALTERNATIVES TO THE HOME HOME RULE PETITION. SO IN TERMS OF POTENTIAL CHANGES TO THE MAYOR'S PROPOSAL, OUR REPORT SET FORTH A LIKELY SCENARIO THAT WE ANALYZED FOR THE COMING YEAR WHICH WAS A 10% REDUCTION IN COMMERCIAL VALUES AND A 5% GROWTH IN RESIDENTIAL VALUES AND ASSUMING $60 MILLION OF NEW GROWTH. SO I WANT TO USE THOSE SAME ASSUMPTIONS TODAY BECAUSE WE'VE DONE SOME INITIAL INITIAL ADDITIONAL ANALYSIS THAT I WANT TO SHARE. MARGARET, I'M SO SORRY . I JUST WANT TO FOLLOW YOU. 10% REDUCTION IN COMMERCIAL VALUES AND 5% IN RESIDENTIAL INCREASE IN RESIDENTIAL. YES. YES, EXACTLY SO. SO 10% DOWN 5% UP WAS THE ASSUMPTIONS THAT WE USED IN OUR REPORT AND THAT WE USED AGAIN WHEN DOING ADDITIONAL ANALYSIS SO THAT WE WANTED TO HOLD HOLD THE ASSUMPTIONS STEADY.  AND AS WE'RE THINKING ABOUT IT, I THINK IT'S IMPORTANT TO NOTE WHAT THE MAYOR IS TRYING TO DO. SHE'S TRYING TO AVOID A STEEP INCREASE IN RESIDENTIAL PROPERTY TAXES IN THE COMING YEAR AND AS SHE PUTS IT, SHE WANTS NEXT YEAR TO LOOK LIKE THE PAST FEW YEARS. SO IT'S PREDICTABLE FOR HOMEOWNERS AND THERE'S NOT A BIG SPIKE OR BIG SHOCK TO THE SYSTEM.  SO AS WE THINK ABOUT THAT, IT'S IMPORTANT TO NOTE THAT RESIDENTIAL PROPERTY TAXES HAVE INCREASED ABOUT 9% A YEAR FOR THE PAST FEW YEARS.  SO WE MODEL WHAT WOULD HAPPEN UNDER THE TAX CUTS VACATION PROPOSAL IF RESIDENTIAL TAXES GO UP AT THAT SAME 9% NEXT YEAR. AGAIN, KEEPING THESE SAME ASSUMPTIONS ABOUT WITHOUT LOSING.  I'M SORRY COUNCILOR, YOU HAD TO LOOK I'M HAVING I DON'T KNOW WHAT'S MY PROBLEM ON MY END BUT YOU SEEM TO BE COMING IN TONIGHT AND MARTY.  OH, OKAY. ALL RIGHT. I'M I HOPE I HOPE THAT IF I NEED TO, I'LL TURN MY CAMERA OFF IF THAT'S CAUSING ANY UNSTABLE INTERNET. SO WHAT WE DID IS WE MODELED WHAT WOULD HAPPEN IF TAXES GO UP AT THE SAME RATE NEXT YEAR AS THEY'VE BEEN GOING UP OVER THE LAST FEW YEARS, THEREBY ACHIEVING THE MAYOR'S GOAL THAT NEXT YEAR LOOKS A LOT LIKE THIS YEAR.  WHAT THAT WOULD MEAN IS THAT THE SHIFT WOULD ONLY NEED TO GO FROM 175% WHERE IT IS TODAY TO 185%. SO IF WE'RE TRYING TO MODEL NEXT YEAR IS LIKE PAST YEARS YOU COULD CAP THE INCREASE AT 185%. NOW TO BE SURE THAT'S STILL A HEFTY INCREASE IN COMMERCIAL TAXES. BUT I THINK IS WE'RE TRYING TO ADD FACTS AND DATA TO THE ANALYSIS.  WE SHOULD ACKNOWLEDGE THAT THAT WOULD ACHIEVE THE MAYOR'S GOAL OF A RESIDENTIAL TAX INCREASE THAT'S PREDICTABLE AND FAMILIAR TO HOMEOWNERS. WE ALSO LOOKED AT WHAT WOULD HAPPEN IF THE INCREASE IN RESIDENTIAL PROPERTY TAXES NEXT YEAR IS JUST A LITTLE BIT HIGHER THAN WHAT WE'VE SEEN OVER THE PAST FEW YEARS. SO WE MODELED THAT AS WELL. AND IF WE FOR EXAMPLE HAVE RESIDENTIAL TAXES GOING UP JUST A LITTLE BIT MORE SAY 10.9% RATHER THAN THE 9% THE BURDEN ON COMMERCIAL OWNERS AND THEIR TENANTS WOULD REQUIRE A SHIFT FROM 175% WHERE IT IS TODAY TO 180 TO POINT FIVE. SO AGAIN A MEANINGFUL INCREASE IN COMMERCIAL TAXES BUT IT GOES BACK TO THIS IDEA OF WHAT IS IT WE'RE TRYING TO ACHIEVE HERE WHICH IS SOME PREDICTABILITY IN SMOOTHING OUT THE INCREASE FOR RESIDENTIAL HOMEOWNERS SO WE CAN MODEL DIFFERENT IMPACTS.  AND THEN THE THIRD WAY TO THINK ABOUT THIS HOME RULE PETITION IS GOING BACK TO WHAT HAPPENED IN 2004 WHEN WE DID THIS THE LAST TIME. SO BACK IN 2004, ONCE THE LAW WAS CHANGED URGED RESIDENTIAL TAXES WENT UP THE AVERAGE FOR THE AVERAGE SINGLE FAMILY HOMEOWNER THE TAXES WENT UP 13.8%. SO THAT'S A HEFTY INCREASE FOR SURE. BUT THAT WAS A BIG VICTORY IN 2004. SO AS WE THINK BACK TO THE LESSONS LEARNED 20 YEARS AGO, IT'S IMPORTANT TO CONSIDER WHAT WE THOUGHT BACK IN 2004 WE COLLECTIVELY THOUGHT WAS A BIG WIN.  SO IS AS YOU CONSIDER SOME POTENTIAL CHANGES TO THIS HOME RULE PETITION, IT'S LOOKING AT DOING NEED TO GO ALL THE WAY TO 200%. SO THE RESEARCH BUREAU'S NOT ENDORSING THE IDEA OF CAPPING THE INCREASE.  IT'S SOMETHING MUCH LESS THAN 200% BUT WE AT LEAST WANTED TO ADD OUR ANALYSIS THAT THERE'S A PATH HERE THAT HAS THAT MORE OF A SHARED SACRIFICE THAT I THINK WE'VE BEEN TALKING ABOUT . SO THE SECOND THING I WANTED TO COVER IN OUR TESTIMONY ARE SOME OF THE ALTERNATIVES TO THE HOME RULE PETITION THAT THE RESEARCH BUREAU HAS LOOKED AT. SO THE FIRST THING I WANTED TO TALK ABOUT ARE CHANGES TO THE HOME RULE PETITION. BUT I DO THINK THERE ARE QUITE A NUMBER OF ALTERNATIVES THAT WE SHOULD BE THINKING ABOUT WHERE WE DON'T HAVE TO DO THIS TAX CLASSIFICATION PROPOSAL AT ALL. AND THERE'S A LOT OF IDEAS THAT WE HAVE IN OUR REPORT.  BUT BEFORE I DIVE INTO THOSE I THINK IT BEARS REPEATING WHAT'S BEEN ALLUDED TO BY SOME OF THE OTHER PEOPLE TESTIFYING THAT THIS IS NOT JUST ABOUT DOWNTOWN AND THIS IS NOT JUST ABOUT THE OWNERS OF COMMERCIAL OFFICE BUILDINGS.  THIS IS EVERY COMMERCIAL PROPERTY IN THE CITY AND NEARLY EVERY TENANT IN THOSE COMMERCIAL PROPERTIES BECAUSE THE WAY COMMERCIAL LEASES OPERATE IS THE COMMERCIAL OWNERS WILL PASS THE COSTS ON TO THEIR TENANTS IN NEARLY ALL LEASES. SO THIS IS A COST INCREASE TO OPERATE IN THE CITY FOR RESTAURANTS, RETAIL SHOPS, NAIL SALONS, BARBER SHOPS, CONVENIENCE STORES AND ANY NONPROFIT ORGANIZATION THAT'S IN A TENANT IN A COMMERCIAL BUILDING. SO THIS IS GOING TO HAVE AN IMPACT ON EVERY SMALL BUSINESS LARGE BUSINESS, EVERY COMMERCIAL PROPERTY WHETHER IT'S IN EAST BOSTON. HYDE ALLSTON, BRIGHTON AND EVERYWHERE IN BETWEEN.  SO THE NARRATIVE OF THIS HAS BEEN SO MUCH ABOUT DOWNTOWN OFFICE BUILDINGS. SO I THINK IT'S JUST INCREDIBLY IMPORTANT THAT WE ACKNOWLEDGE THIS IS ROSLINDALE SQUARE. THIS IS WEST BROADWAY IN EAST BROADWAY IN SOUTH BOSTON. THIS IS ACROSS THE CITY WHICH IS WHY THE RESEARCH BUREAU WE HAVE IDENTIFIED STRATEGIES SO WE DON'T HAVE TO DO THIS TAX CLASSIFICATION PROPOSAL AND HAVE ALL OF ITS NEGATIVE CONSEQUENCES. SO SOME OF WHAT WE'VE PROPOSED ARE SOME NEAR-TERM IDEAS, SOME ARE SOME LONGER TERM REVENUE DIVERSIFICATION IDEAS.  SO THEY'RE ALL IDENTIFIED IN OUR REPORT BUT WE ACTUALLY HAVE ONE MORE AS WE'VE BEEN CONTINUING TO WORK ON THIS SINCE OUR REPORT CAME OUT.  AS NOTED IN OUR REPORT, THE CITY HAS ABOUT $1 BILLION IN RESERVES AND WE THINK THE CITY COULD USE A MODEST PORTION OF THOSE RESERVES IN THE COMING YEARS TO SET UP A FUND ALMOST LIKE A CIRCUIT BREAKER FUND FOR HOMEOWNERS BELOW A CERTAIN AMOUNT WHO ARE STRUGGLING TO AFFORD THE INCREASE IN THEIR PROPERTY TAXES. WE KNOW A SIGNIFICANT INCREASE IN RESIDENTIAL TAXES CREATES A BURDEN ON MANY HOMEOWNERS. SO WE NEED TO ACKNOWLEDGE THAT WE'VE HEARD THAT TESTIMONY TODAY.  SO THIS IDEA IS CONSISTENT WITH WHAT THE MAYOR'S BEEN TRYING TO DO WHICH IS PROVIDE SOME SHORT TERM RELIEF. SO THAT THE INCREASE IS SPREAD OUT OVER TIME. SO BY USING SOME OF OUR RESERVES OR RAINY DAY FUND, WE CAN PROVIDE THAT NEAR-TERM RELIEF SO THAT HOMEOWNER ERS CAN SPREAD OUT THE INCREASE OVER TIME, ADJUST THEIR BUDGETS. NOW THIS IS NOT A PERMANENT SOLUTION TO USE RESERVES BUT AS WE'VE HEARD THE HOME RULE PETITION IS NOT A PERMANENT SOLUTION EITHER. YOU KNOW, COUNCILOR FITZGERALD, I THINK IS 100% CORRECT WHEN HE TALKED ABOUT THE COSTS ARE GOING TO GO UP, THE RESIDENTIAL TAXES ARE GOING UP, THE HOME RULE PETITION SLOWS THE PACE AT WHICH THAT OCCURS.  BUT IT IS GOING TO HAPPEN AND SO THIS IDEA OF USING FUND PROVIDES THAT RELIEF TO HOMEOWNERS. CAN YOU PROBABLY PUT AN INCOME RESTRICTION ON IT SO THAT IT'S REALLY TARGETED AT THOSE WHO ARE GOING TO STRUGGLE TO PAY BUT IT PROVIDES THAT SHORT TERM RELIEF WITHOUT SO MANY OF THE NEGATIVE CONSEQUENCES THAT THE TAX CLASSIFICATION PROPOSAL WOULD HAVE ON COMMERCIAL OWNERS AND THEIR TENANTS. SO WE THINK THERE'S SOME IDEA HERE IS THAT THAT WE CAN REALLY FLESH OUT THAT ACHIEVES THE GOAL THAT THE TAX CLASSIFICATION PROPOSAL IS TRYING TO ACHIEVE BUT DOESN'T HAVE THE NEGATIVE CONSEQUENCES . AND THE LAST THING I WANT TO SAY AND THEN I WILL WRAP IS THERE'S BEEN SOME RHETORIC THAT PEOPLE ARE PROPOSING DEEP BUDGET CUTS AS A WAY TO SOLVE THIS PROBLEM. AND I JUST WANT TO SAY ON BEHALF OF THE RESEARCH GROUP OUR REPORT IS NOT CALLING FOR BUDGET CUTS. WE HAVE CALLED FOR LOOKING AT SLOWING THE RATE OF SPENDING INCREASES SO SLOWING THE RATE OF INCREASE SAY FROM 8% TO 5% IS NOT CUTTING THE BUDGET. WE AREN'T GOING TO BE ABLE TO CUT OUR WAY OUT OF THIS. BUT WHAT WE CAN DO IS SHOW RESTRAINT IN THE PACE AT WHICH THE BUDGET IS INCREASING AND THAT'S WHERE WE THINK THERE'S OPPORTUNITY TO FOCUS.  AN 8% INCREASE IS SUBSTANTIAL. WE STILL CAN HAVE AN INCREASE IN SPENDING BUT IT DOESN'T HAVE TO BE AT THE 8% PACE. SO I WANT TO MAKE SURE THAT WE'RE TALKING ACCURATELY ABOUT WHAT WE'RE PROPOSING AND WHAT OTHER GROUPS ARE PROPOSING. MOVE AWAY FROM SOME OF THE POLITICAL RHETORIC ABOUT BUDGET CUTS BEING THE SOLUTION HERE WHEN WHAT WE'RE FOCUSING ON IS SLOWING THE RATE AT WHICH SPENDING IS INCREASING. SO THANK YOU FOR THE OPPORTUNITY TO TESTIFY.  HAPPY TO ANSWER ANY FOLLOW UP QUESTIONS. I'M AFTER OTHERS ON THE PANEL ALSO HAVE THE OPPORTUNITY TO SPEAK.  THANK YOU SO MUCH MARTY FOR YOUR WORK AS INTERIM PRESIDENT AND THEN THOSE AT THE BOSTON MUNICIPAL RESEARCH BUREAU. WE VERY MUCH APPRECIATE IT AND I WILL ASK THAT YOU STICK AROUND IN THE EVENT THAT FOLKS HAVE QUESTIONS FOR YOU. OUR NEXT STEP WILL GO TO MATTHEW OSBORNE, RUSI EXECUTIVE VICE PRESIDENT AND CHIEF CREDIT OFFICER FOR EASTERN BANK.  GOOD MORNING EVERYONE. THANK YOU VERY MUCH. I APPRECIATE THE OPPORTUNITY TO BE HERE AND I ALSO APPRECIATE WHAT EVERYONE HAS SHARED THIS MORNING. I CERTAINLY UNDERSTAND THAT, YOU KNOW THE IMPACT OF HIGHER TAXES WORK THAT COULD HAVE ON EVERYONE AND WHY EVERY EFFORT IS BEING MADE TO YOU KNOW LIMIT THOSE ON THE RESIDENTS.  AS I MENTIONED I'M A BANK CREDIT OFFICER WITH THE EASTERN BANK AND I JUST WANTED TO SHARE WITH EVERYONE WHAT WE ARE SEEING WITH COMMERCIAL PROPERTIES AND BUSINESSES IN BOSTON AND JUST SHARE A PERSPECTIVE OF HOW AN INCREASING TAX BURDEN ON THOSE SECTORS WILL ADD HEADWINDS TO THE CITY.  KNOW WE'VE ALL BENEFITED FROM EVERYTHING THE CITY HAS TO OFFER AND CERTAINLY CARE VERY DEEPLY ABOUT ITS FUTURE VITALITY.  YOU KNOW, FOLLOWING THE PANDEMIC. YOU KNOW OUR WORK PATTERNS THEY HAVE CHANGED PERMANENTLY.  I HEAR IT FROM BUSINESSES EVERY DAY. WE HAVE LOTS OF METRICS OUT THERE THAT TRACK THIS BUT PUT THOSE ASIDE.  WE SEE IT EVERY DAY WITH THE LOWER FOOT TRAFFIC IN THE CITY, THE LOWER WORKERS THAT ARE COMING IN AND IT'S NOT HERE TO CHEER. IT'S NOT GOING TO CHANGE THESE WORK PATTERNS OF CHANGE PERMANENTLY. IT'S NOT A CYCLE. THIS IS A PARADIGM SHIFT CERTAINLY FOR THE FORESEEABLE FUTURE AND THAT MAKES THIS MARKET DISRUPTION VERY DIFFERENT FROM THE TECH CRASH THAT WE SAW IN THE EARLY 2000S AROUND 2001 AND THE GREAT FINANCIAL CRISIS OF 2008.  YOU KNOW BOSTON BOUNCED BACK QUITE STRONGLY FROM THOSE EVENTS AND QUICKLY BUT WITH THE CHANGE IN WORK PATTERNS IT'S HIGHLY UNLIKELY WE'RE GOING TO SEE THAT BOUNCE BACK THIS TIME WITHOUT SOME STRUCTURAL CHANGES IN PROPERTIES, CHANGES TO SOME OF THESE PROPERTIES. WHAT WE'RE SEEING FACTUALLY IS THAT WHEN LEASES OFFICE OBVIOUSLY THESE EXPIRE TENANTS ARE DOWNSIZING FROM 30 TO 40 TO 50% OF THEIR SPACE OR LEAVING ENTIRELY.  THIS DRIVES SOME STRUGGLES WITH STREET LEVEL RETAIL TENANTS WITH LESS CUSTOMERS, LESS WORKERS IN THE CITY AND SOME OF THEM END UP HAVING TO CLOSE LEASING ACTIVITY ACROSS THE CITIES AT A TEN YEAR LOW. THERE'S LOTS OF MARKET REPORTS OUT THERE THAT DEMONSTRATE THAT, YOU KNOW, VACANCY RATES WHICH HAVE BEEN IN THE SINGLE DIGIT DIGITS ARE IN THE BEST OF TIMES HAVE RISEN TO, YOU KNOW, THE MID 23% RANGE AND.  THESE ARE THE HIGHEST ON RECORD GIVEN THAT LEASES ARE STILL EXPIRING.  WE HAVE A WAYS TO GO ON THIS. IT'S REASONABLE TO THINK THAT THE VACANCY RATES ARE GOING TO CONTINUE TO INCREASE FROM HERE. THE PRESSURE POINTS THAT ARE COMING TOGETHER ON ALL OF OUR DOWNTOWN BUSINESSES AND PROPERTIES IS THAT WE HAVE HIGHER VACANCY THAT WILL LOWER RENTS, HIGHER EXPENSES AND CERTAINLY HIGHER COSTS OF CAPITAL WITH RATES BEING HIGHER TODAY THAN THEY WERE A FEW YEARS AGO. SO THE PRESSURE POINTS ON ALL OUR COMMERCIAL AND BUSINESS OWNERS ARE COMING FROM ALL DIRECTIONS AND YOU KNOW OBVIOUSLY PUTTING MORE OF THE TAX BURDEN ON THESE BUSINESSES AND PROPERTIES JUST INCREASES THE HEADWINDS EVEN FURTHER. THE RESULT OF THIS IS THAT WE ARE SEEING BUILDINGS THAT ARE SELLING FOR 40 TO 60% LESS THAN THEY WOULD HAVE SOLD FOR PRIOR TO THE PANDEMIC. IT'S JUST A TREMENDOUS DESTRUCTION IN VALUE.  THEY ARE TRADING AT THESE LOWER LEVELS BECAUSE PROPERTY OWNERS SIMPLY DO NOT SEE A PATH TO RECOVERY TO PRE-PANDEMIC LEVELS . RIGHT NOW IT'S VERY HARD FOR BUSINESS OWNERS TO PROJECT HOW THESE WILL PERFORM. YOU ADD ON TO THAT HIGHER REAL ESTATE TAXES AND IT CERTAINLY ADDS THE LIST OF ITEMS THAT BRINGS THE FINANCIAL FEASIBILITY TO HAPPENING.  IT LEADS TO LESS CAPITAL GOING INTO THESE BUILDINGS BECAUSE THEY'RE FEARFUL OF PUTTING GOOD MONEY AFTER BAD AND WITH THE RELUCTANCE OF THEM TO INVEST INTO THESE PROPERTIES IT CONTINUES THE CYCLE OF INCREASING VACANCY AND DETERIORATING ASSETS. SO WHEN YOU COMBINE ALL OF THESE FACTORS TOGETHER IT'S REALLY A RECIPE TO HAVE A LOT OF BUILDINGS THAT ARE VACANT. THEY DRAG DOWN ALL DIFFERENT AREAS OUR CITIES I THINK IT'S CRITICALLY IMPORTANT THAT WE HAVE A VIBRANT DOWNTOWN AREA AND VIBRANT AREAS IN ALL PARTS OF THE CITY THAT BRINGS BUSINESSES IN AND INCREASES EMPLOYMENT OPPORTUNITIES FOR ALL OF US. THIS IS A VERY DIFFICULT ISSUE OBVIOUSLY WE WANT TO PROTECT THE RESIDENTS AND WE WANT TO HAVE VIBRANT DOWNTOWN AREAS THROUGHOUT THE CITY. BUT UNFORTUNATELY WORK PATTERNS HAVE PERMANENTLY CHANGED.  YOU KNOW THIS IS A PARADIGM SHIFT AND I JUST DON'T THINK WE'RE GOING TO SEE THE BOUNCE BACK THAT WE SAW AFTER 2008. SO WHILE THIS PROPOSAL PROPOSAL IS VIEWED AS TEMPORARY, IT'S BASED ON PART IN PART OF ITS PAST USE AND PAST SUCCESS. BUT WE HAVE A LARGER SYSTEMIC THIS TIME THE RULES OF THE GAME HAVE CHANGED SUGGESTING THE BOUNCE BACK WILL NOT BE AS STRONG AS IT MAY HAVE BEEN IN THE PAST. THIS MAY NOT BE A TEMPORARY CHALLENGE. IT'S GOING TO REQUIRE DIFFERENT STRATEGIES AND I THINK THE CHALLENGE THAT THIS IS BRINGING FORWARD IT'S BEEN MENTIONED A FEW TIMES ALREADY THIS MORNING IS THE CONCEPT THE CITY HAS A HEAVY RELIANCE ON REAL ESTATE AS A REVENUE SOURCE AND THIS IS JUST HIGHLIGHTING THE NEED TO CONSIDER DIVERSIFYING THAT RELIANCE AND SEEKING ALTERNATIVE REVENUE SOURCES SO THAT THE BURDEN OF THIS ISSUE IS NOT JUST ON THE SHOULDERS OF THE RESIDENTIAL AND COMMERCIAL PROPERTY OWNERS YOU KNOW, BECAUSE ULTIMATELY THE END OF THE DAY WE'RE ALL IN THIS TOGETHER. THEY NEED TO FIND OTHER SOLUTIONS OUT THERE. THANK YOU VERY MUCH. I'LL CERTAINLY BE AVAILABLE FOR QUESTIONS IF ANYONE HAS ANY.  THANK YOU VERY MUCH FOR BEING HERE, MR O'BRIEN. I APPRECIATE IT. NEXT WE'LL GO TO MR DANIELS BRANT IF YOU CAN INTRODUCE YOURSELF AND FOR GEORGE.  THANK YOU MADAM CHAIR AND COMMITTEE MEMBERS I APPRECIATE VERY MUCH THIS DISCUSSION AND THE OPPORTUNITY TO PRESENT ON THIS ISSUE TODAY. MY NAME IS DAN SWIFT. I'M A PRINCIPAL AT RYAN LLC. WE ARE A GLOBAL TAX CONSULTING FIRM. MY PRACTICE IS SPECIFICALLY FOCUSED PROPERTY TAX MATTERS HERE IN BOSTON AND NEW ENGLAND . I RESPECT AND UNDERSTAND THE CONCERN OVER RESIDENTIAL TAXES . HOWEVER, THIS PROPOSAL WILL ONLY WORSEN THE ISSUE IT SEEKS TO SOLVE. THE UNDERLYING PROBLEM HERE IS A DECLINE COMMERCIAL ASSESSED VALUE IN THIS TAX SHIFT OR ADDITIONAL TAX SHIFTS WILL ONLY FURTHER THAT DECLINE AND RESULT IN FAR GREATER BURDEN ON THE RESIDENTIAL CLASS. THE FUNDAMENTAL ISSUE HERE IS THAT THE FURTHER THE DECLINE OF COMMERCIAL ASSESSMENT THE FURTHER THE INCREASE RESIDENTIAL TAX BURDEN BY INCREASING THE LEVY RESPONSIBILITY THE COMMERCIAL CLASS FROM 175% TO 200% WHICH THIS BILL PROPOSES TO DO THE COMMERCIAL TAX RATE WILL SPIKE WHICH WILL DIRECTLY DECREASE THE ASSESSED VALUE FOR THE COMMERCIAL CLASS BY BILLIONS OF DOLLARS. THAT'S BY THE CITY'S OWN ASSESSMENT METHODOLOGY AS REQUIRED BY THE COURTS. THE HIGHER THE COMMERCIAL TAX THE LOWER THE COMMERCIAL ASSESSMENTS. THE DECLINE IN COMMERCIAL REAL ESTATE IS NOT A SHORT TERM PROBLEM. BOSTON'S HAD SIX STRAIGHT QUARTERS OF NEGATIVE ABSORPTION MEANING THAT MORE SPACE IS BECOMING VACANT EACH QUARTER THAN BEING ABSORBED OR AT LEAST THERE'S APPROXIMATELY 17 MILLION SQUARE FEET OF AVAILABLE OFFICE SPACE IN THE MARKET IN BOSTON OVER 5 MILLION SQUARE FEET OF AVAILABLE LAB SPACE. COMMERCIAL SALE TRANSACTIONS HAS CONTINUED TO BE LOWER THAN THE PREVIOUS WITH BANKS AND ALONG THE WAY IN ON MANY OF THESE TRANSACTIONS DUE TO THE FUTURE CONCERN IF THERE WAS ANY HOPE OF A RECOVERY WITHIN FOUR YEARS PROPERTIES WOULD BE SELLING FOR FAR FAR GREATER THAN WHAT THEY ARE. INSTEAD THEY ARE SELLING FOR FRACTIONS OF WHAT THEY WOULD TRANSACTED FOR JUST TWO AND THREE YEARS AGO. THIS MEASURE WILL ONLY WELL WERE THOSE TRANSACTIONAL VALUES AS THE HIGHER COSTS RESULTING FROM INCREASED TAXES WILL LEAD TO LOWER MARKET VALUES AND WILL IMPEDE EFFORTS TO RETAIN AND ATTRACT BUSINESSES TO THE MILLIONS OF VACANT SQUARE FEET IN THE CITY. IT WILL NEGATIVELY IMPACT CURRENT BUSINESSES ACROSS THE CITY IN EVERY NEIGHBORHOOD REGARDLESS OF SIZE. IT WILL RESULT IN A MUCH LOWER ALLOCATION OF COMMERCIAL VALUE AND AS A RESULT A MUCH HIGHER ALLOCATION OF RESIDENTIAL TAX. IN CLOSING, I WOULD JUST ADD THAT THIS IS A VERY COMPLEX ISSUE THAT DESERVES CAREFUL CONSIDERATION TO AVOID EXACERBATING WHAT IS A SYSTEMIC PROBLEM.  I LOOK FORWARD TO ANSWERING ANY QUESTIONS TODAY BUT I ALSO WILL MAKE MYSELF AVAILABLE TO THE COMMITTEE AND COUNCIL MEMBERS AT ANY FUTURE TIME AS ALTERNATIVES SOLUTIONS ARE STUDIED AND DISCUSSED. LET'S THAT'S THE END MY MY PREPARED STATEMENT. I THINK I'VE GOT A FEW MINUTES LEFT. I JUST QUICKLY LIKE TO TOUCH ON A FEW THINGS THAT HAVE COME UP TODAY. THE AVERAGE SINGLE FAMILY TAX BILL IN BOSTON AFTER TAKING CONSIDERATION THE RESIDENTIAL EXEMPTION IS APPROXIMATELY 20 $500. SO THIS 17% INCREASE WHICH FROM MY PERSPECTIVE IS ON THE MORE AGGRESSIVE SIDE WOULD BE JUST OVER $400 PER YEAR FOR THE YEAR OR JUST OVER $30 PER MONTH. I'M NOT SAYING THAT'S A LOT OR A LITTLE BUT I JUST WANT TO CLARIFY I'VE HEARD $1,000 I THINK AT $1.200 THOUSAND AND QUARTER. I'D BE HAPPY TO DIG INTO THOSE CALCULATIONS AND MAKE SURE THAT THERE'S A FIRM UNDERSTANDING OF OF OF WHAT THIS IS WHAT THIS REPRESENTS AND BASED ON THE CURRENT RESIDENTIAL TAX 2500 WE'RE TALKING ABOUT A MUCH SMALLER AMOUNT THAN WHAT'S BEEN DISCUSSED TODAY. AND THEN JUST QUICKLY ON THE IDEA 24 SHIFT THAT THAT WAS PASSED TO TEMPER RESIDENTIAL GROWTH.  IT WAS NOT TO OFFSET COMMERCIAL VALUE DECLINE. THIS PROPOSAL IS TO THINK INCREASE COMMERCIAL TAX TO OFFSET COMMERCIAL DECLINE.  A VERY DIFFERENT SITUATION THAN 2004. SO I JUST WANTED TO CLARIFY THAT AND AGAIN I WANT TO DIG INTO 24 AS WELL AS EVERYTHING ELSE WAS WITH ANYONE AT ANY POINT IN TIME.  THANK YOU, MADAM CHAIR. I'LL GET BACK MY TIME.  THANK YOU. I APPRECIATE THAT AND I APOLOGIZE THAT I MISSED THAT.  SO JUST TO CLARIFY. SO THAT WAS FOR THE YOU CAN REPEAT THAT I WAS FOR SINGLE FAMILY THE AVERAGE SINGLE FAMILY HOME AND IT WOULD COME UP TO HOW MANY DOLLARS PER YEAR THE AVERAGE SINGLE FAMILY TAX AFTER CONSIDERING THE RESIDENTIAL EXEMPTION IS JUST OVER 20 $500 FOR FISCAL 24 ACCORDING TO THE CITY'S BUDGET DOCUMENTS.  SO A 17% INCREASE OF 20 $500 IS JUST OVER 400. AND AGAIN I THINK 70% IS ON THE AGGRESSIVE SIDE. I'M NOT SAYING IT WOULDN'T BE 70% BUT I THINK THAT'S ON THE HIGHER SIDE. SO WHAT WE'RE TALKING ABOUT IS SOMEWHERE IN THAT 300 $400 INCREASE ON AVERAGE. OKAY. HAVE YOU DONE ANY ESTIMATION FOR TWO FAMILY PEOPLE BECAUSE MULTI-UNIT BUILDINGS. I HAD I HAD LOOKED AT APARTMENTS. I DON'T HAVE THAT AT MY FINGERTIPS JUST BECAUSE I WAS PREPARED TO TALK ABOUT I JUST KEPT HEARING $1,000 WHICH WASN'T FEELING CORRECT TO ME . SO I I LOOK THAT UP BUT I'D BE HAPPY TO GET INTO THE DETAILS IN THE WEEDS ON ALL THOSE VARIOUS ASSET CLASSES PROPERTY TYPES VERY MUCH. THANK THINK I DON'T MEAN TO PUT YOU ON THE SPOT BUT I APPRECIATE THAT THAT PORTION OF DATA THAT PIECE OF DATA AND THEN IF WE CAN AT SOME POINT RECEIVE THOSE THAT WOULD BE HELPFUL AT LEAST FOR ME IN THE CONVERSATION. SO I APPRECIATE YOUR TIME AGAIN ,THANK YOU SO MUCH FOR BEING HERE. A PLEASURE.  OKAY. NEXT UP WE HAVE MEG MANGER COHEN WHO'S THE PRESIDENT AND EXECUTIVE DIRECTOR OF THE BACK BAY ASSOCIATION.  THANK YOU BEFORE. THANK YOU FOR BEING HERE. THANK YOU SO MUCH, COUNCILOR CLETA.  I'M HERE REPRESENTING THE BACK BAY ASSOCIATION AND IT IS A PRIVILEGE TO SPEAK BEFORE YOU TODAY. I DO WANT TO THANK THE CITY OF BOSTON FOR ALL THE WORK THAT THEY ARE DOING TO TACKLE THIS ISSUE AND ALSO THE CITY COUNCIL FOR YOUR THE THOUGHTFUL WAY THAT YOU ARE MEETING WITH ALL OF US AND LOOKING AT THESE ISSUES. CURRENTLY THE BACK BAY, THE BUSINESS PORTION ONLY OF THE BACK BAY IS PAYING ABOUT $315 MILLION OF COMMERCIAL TAXES PER YEAR. PEOPLE SAY WELL THAT BAY IT'S ALL A BUNCH OF BIG PROPERTY OWNERS NO BIG DEAL THEY CAN HANDLE IT.  WHEN WE LOOK AT OUR STACKS OF THE 525 PARCEL IDS THAT ARE A PART OF THE COMMERCIAL AREA, 393 OF THEM ARE CONSIDERED SMALL PROPERTY OWNERS. WHAT WE KNOW ABOUT SMALL PROPERTY OWNERS IS ESPECIALLY WHEN IT COMES TO CLASS B COMMERCIAL PROPERTIES OR C THEY'RE REALLY STRUGGLING RIGHT NOW TO FIND TENANTS WHERE THE COMMERCIAL MARKET IS SO WEAK PEOPLE ARE LOOKING FOR WHAT'S NEW, THE BRAND NEW SHINY COMMERCIAL PROPERTIES CLASS PROPERTY SPACE THAT'S COMING ONLINE AND SOME OF THE SMALLER PROPERTY OWNERS ARE REALLY STRUGGLING RIGHT NOW. THERE ARE AREAS OF THE BACK BAY THAT ARE DOING VERY WELL AND I WOULD SAY NEWBURY STREET IS A GREAT EXAMPLE OF THAT. SO WHAT'S GOING TO HAPPEN WITH NEWBURY STREET IS THE PROPERTY VALUES ARE THIS NEXT YEAR ARE PROBABLY GOING TO BE EITHER FLAT OR GO UP. SO WHERE PEOPLE ARE LOOKING AT 17% INCREASES, NEWBURY STREET IS GOING TO BE HIT ENORMOUSLY.  WHAT WILL HAPPEN IS THAT THE THE ACTUAL TAX ITSELF WILL BE PASSED ALONG TO THE TO THE TENANTS. IT'S SORT OF LIKE A TRICKLE DOWN ECONOMICS BUT IT ACTUALLY REALLY WILL TRICKLE DOWN. AND THEN WHEN WE THINK ABOUT OUR COMMERCIAL DISTRICTS AND I UNDERSTAND THAT ONE OF THE SAY POSITIVES ABOUT WHAT'S TO DOWNTOWN IS THAT PEOPLE ARE WORKING FROM HOME AND THEY ARE LIVING IN BOSTON NEIGHBORHOODS AND SO THE COMMERCIAL PROPERTIES IN ALL OF OUR NEIGHBORHOODS, ALL THE RETAIL STORES, THEY HAVE A VERY, VERY LOW VACANCY RATE. SO THIS IS GOING TO ACTUALLY IMPACT ALL OF OUR NEIGHBORHOODS. THIS IS NOT RESIDENT VERSUS COMMERCIAL. THIS IS REALLY ALL OF US WHO LIVE AND WORK IN THE CITY WILL BE IMPACTED BY THIS. AND WHAT WE KNOW IS THAT IT USED TO BE PEOPLE CAME TO BOSTON, PERIOD. NOW THERE ARE OTHER AREAS IN OUR ADJACENT TOWNS LIKE DEDHAM OR CHESTNUT HILL THAT SHARE A LOT OF THE SAME RETAIL BRANDS BUT THE COST OF AN ADDITIONAL TAX LIKE THIS ACTUALLY CAN'T BE LIKE PRICED INTO THE BACK BAY HAMBURGER VERSUS THE CHESTNUT HILL HAMBURGER VERSUS THE DEDHAM HAMBURGER. IT'S ALL ABSORBED AT THE BOTTOM LINE BY THE BUSINESS ITSELF.  IT'S IT'S REDUCING THE PROFIT MARGIN AND EVERY BUSINESS OBVIOUSLY HAS TO HAVE A PROFIT MARGIN THAT THEN IS PART OF CREATING A LARGER BUSINESS ENTERPRISE OR OR SUCCESS FOR THE BOTTOM LINE. OUR NEIGHBORHOOD AND THE SERVICE INDUSTRY IS PROBABLY THE LARGEST EMPLOYER OF CITY OF BOSTON RESIDENTS. YOU KNOW, I QUOTED IN THE PAPER AS TALKING ABOUT ONE ENTERTAINMENT ENTITY THAT HAS ALL THAT SAYS FOOD ASSOCIATED WITH IT. THAT WOULD MEAN AN ADDITIONAL HUNDRED THOUSAND DOLLARS FOR AN ENTERPRISE THAT HAS OTHER OTHER BRANCHES IN OTHER CITIES. IT IS A CHALLENGE THAT WE ARE ASKING THIS DEPRESSED CHALLENGED SECTOR TO ABSORB ARE SO MUCH OF WHAT IS HAPPENING AND IT'S LIKE THE HOTTEST MARKET THE RESIDENTIAL MARKET IS DEPENDING ON THE COLDEST MARKET THE REACH THE COMMERCIAL PROPERTY OWNERS TO SORT OF CARRY THE LOAD. I JUST DO THINK THAT WE HAVE TO DO A VERY DEEP DIVE IN UNDERSTANDING HOW THIS IS GOING TO WORK. I REALLY DO THINK THAT THIS IS A COLLABORATIVE OPPORTUNITY WHERE IT'S NOT LARGE BUSINESSES VERSUS SMALL OR RESIDENT VERSUS COMMERCIAL. IT REALLY IS FIGURING OUT TRYING TO FORGE SOLUTIONS COLLABORATIVE FULLY AND WE PLEDGE OUR SUPPORT OF THAT FROM FROM THE BACK THAT.  THANK YOU.  THANK YOU, MEG. IT'S GOOD TO SEE YOU. THANK YOU FOR BEING HERE.  OKAY. WE HAVE THE ADMINISTRATION PANEL. WE HAVE ASHLEY ROSENBERGER WHO IS THE CHIEF FINANCIAL OFFICER OF THE CITY OF BOSTON AND WE HAVE NICHOLAS MARINELLO, THE COMMISSIONER OF ASSESSING THE FOR YOURS TO PROVIDE RESPONSES, COMMENTS, THOUGHTS, SUGGESTIONS OR A PRESENTATION OR IF YOU'D RATHER JUST DIVE INTO QUESTIONS FROM COUNSELORS WE CAN DO THAT . THANK YOU, CHAIR. ASHLEY GRAFF MURDER CHIEF FINANCIAL OFFICER WE'VE HEARD FROM A LOT OF PEOPLE TODAY SO I HAVE A FEW OPENING COMMENTS PREPARED A COUPLE OF THINGS THAT I'M SURE A LOT OF THE MEET WILL COME IN THE FORM OF YOUR QUESTIONS. SO THANKS SO MUCH FOR HAVING US BACK HERE.  WE WERE HERE ON APRIL 16TH TO FIRST PRESENT THIS PROPOSAL AND WE'RE THRILLED TO BE BACK TO HAVE DEEPER DISCUSSION AND ANSWER QUESTIONS AND TOUCH ON SOME OF THE CONCERNS THAT HAVE COME UP IN THE SEVERAL WEEKS SINCE WE'VE BEEN HERE LAST. THE HOME PETITION BEFORE YOU TODAY IS A REVENUE NEUTRAL TIME LIMITED MEASURE THAT ALLOWS THE CITY TO OPT INTO A FIVE YEAR SCHEDULE WHERE THE MAXIMUM COMMERCIAL FACTOR CAN TEMPORARILY INCREASE ABOVE THE CURRENT LEVEL OF 175% UP TO 200% IN THE FIRST YEAR AND THEN GRADUALLY STEP DOWN OVER FIVE YEARS BEFORE RETURNING TO THE CURRENT LEVELS AT ITS CORE. THIS MEASURE IS ABOUT STABILITY AND RESIDENTIAL TAX RELIEF.  THIS IS A PROACTIVE PRECAUTIONARY MEASURE THAT WILL GIVE THE CITY A CRITICAL TOOL TO USE IN THE EVENT THAT COMMERCIAL VALUES DROP SIGNIFICANTLY RESULTING IN A STARK AND IMMEDIATE INCREASE IN RESIDENTIAL TAXES IN FISCAL 25. MOST IMPORTANTLY, IT PUTS ALL TAXPAYERS BUSINESSES AND RESIDENTS ON A GLIDE PATH TO A NEW NORMAL. IF COMMERCIAL VALUES IN THE CITY OF BOSTON DECLINE RESIDENTIAL TAXES WILL GO UP. THIS PROPOSAL DOESN'T CHANGE THAT. WHAT THIS PROPOSAL IS ASKING FOR IS TIME. WE ARE ASKING TO GIVE THE RESIDENTS OF BOSTON TIME TO ADJUST TO A NEW NORMAL IN WHICH COMMERCIAL PROPERTY CONTRIBUTES LESS TO THE CITY'S TAX BASE THAN IT DOES TODAY.  WE ARE ASKING FOR A PARTNERSHIP AND SLOWING DOWN THE PACE THIS TRANSITION NOT TO PERMANENTLY PREVENT IT FROM HAPPENING AND AS A CRITICAL REMINDER. NOTHING ABOUT THIS PROPOSAL THIS HOME RULE PETITION CHANGES THE POWERS OF THE MAYOR AND THE CITY COUNCIL IN ACTUALLY SETTING THE CLASSIFICATION RATE EACH YEAR. I JUST WANT TO SAY A COUPLE OF THINGS ABOUT OF THE CONCERNS QUESTIONS ALTERNATIVES THAT HAVE BEEN RAISED IN SOME OF THE PANELS. FIRST, THE CITY'S BUDGET THE FISCAL 25 BUDGET PROPOSED BY THE MAYOR IN APRIL IS BALANCED AS IT IS REQUIRED TO BE EVERY DOLLAR OF EXPENDITURE GROWTH IS MATCHED BY EXPECTED REVENUE GROWTH AND IT RELIES ON A MIX OF REVENUE INCLUDING BUT NOT LIMITED TO PROPERTY TAXES. WE BELIEVE THAT THE REVENUE TO SUPPORT THE EXPENDITURE WE HAVE THE REVENUE TO SUPPORT THE EXPENDITURE GROWTH ASSUMED IN THE FISCAL 25 BUDGET AND IF THE EXPENDITURE GROWTH WAS LESS THAN 8%, IF IT WAS 5%. THE PROPOSAL TODAY WOULD NOT CHANGE.  IT IS IT IS NOT IMPACT THE AMOUNT OF REVENUE INCLUDED IN THE CITY'S BUDGET NOR DOES A SLOWER PACE OF REVENUE CHANGE.  THE DYNAMIC THAT WOULD HAPPEN ON PROPERTY TAX SPENDING ALONE DOES NOT IMPACT THE PROPERTY TAX FORMULA. PROPERTY TAX IS BASED ON VALUES AND TAX LEVY AND THE ONLY WAY TO IMPACT PROPERTY TAX RATES THROUGH A REDUCTION OR A SLOWER PACE IN SPENDING IS TO NOT TAKE THE FULLY ALLOWABLE TAX LEVY WHICH IS SOMETHING THE CITY HAS NEVER DONE SINCE PROP TWO AND A HALF HAS BEEN IN EFFECT SINCE THE EARLY 1980S TO ACHIEVE THE RESIDENTIAL TAX RATES THAT ARE INCLUDED IN THE BOSTON MUNICIPAL RESEARCH BUREAU REPORT.  THE CITY WOULD NEED TO FOREGO NEARLY $400 MILLION OF PROPERTY TAX LEVY NEXT YEAR AND THE IMPACT OF THIS IS TWOFOLD. THIS WOULD FIRST OF ALL SEVERELY IMPACT THE SERVICES PROVIDED BY THE CITY AND NOT TAKING THE FULL LEVY MEANS WE WOULD FUNCTIONALLY LOSE THAT REVENUE FOREVER GOING FORWARD AND IS A FACTOR CITED BY MOODY'S THAT COULD LEAD TO A CREDIT DOWNGRADE FOR THE CITY FOR THE USE OF RESERVES. THE CITY AS PREVIOUSLY NOTED HAS $1,000,000,000 IN WHAT IS CALLED UNASSIGNED FUND BALANCE BUT ONLY HALF OF THAT IS AVAILABLE TO BE EXPENDED AND THAT IS WHAT SOME HAVE. IF YOU'VE BEEN PAYING ATTENTION TO THE BUDGET HEARINGS AS WHAT WE CALL FREE CASH IN ORDER TO ACHIEVE THE SAME LEVEL OF RESIDENTIAL TAX RELIEF THAT WE COULD SEE WITH CLASSIFICATION WE COULD EASILY WIPE OUT THE ENTIRE AMOUNT OF SPENDABLE RESERVES THAT WE HAVE LEAVING THE CITY WITH NO RESOURCES AVAILABLE TO DEAL WITH EXTRAORDINARY EVENTS OR OTHER UNFORESEEN CIRCUMSTANCES. AND LASTLY, I JUST WANT TO TALK A LITTLE BIT ABOUT REVENUE VOLATILITY AND THE OVERALL REVENUE MIX OF THE CITY. AS MANY OF YOU KNOW, WE IN THE CITY HAVE NO ABILITY TO FORGE OUR OWN DESTINY WHEN IT COMES TO PROPERTY TAXES. WE RELY HEAVILY ON THE STATE FOR APPROVAL. THAT'S WHY WE'RE HERE TODAY RIGHT?  WE NEED TO PASS SOMETHING HERE AT THE CITY THAT CAN WE CAN GET APPROVAL FROM THE STATE. ON THAT BEING SAID PROPERTY TAX IS AN INCREDIBLY STABLE SOURCE OF REVENUE. THE REASON WE ARE HERE IS NOT BECAUSE WE ARE WORRIED ABOUT COLLECTING PROPERTY TAX OR WORRIED ABOUT WHO'S GOING TO PAY THAT REVENUE AND IF LEFT UNCHANGED A DROP IN COMMERCIAL VALUES WILL RESULT IN RESIDENTIAL TAXES GOING UP. I CITED THIS EARLIER BUT ON MAY 16TH MOODY'S REAFFIRMED ITS RATING OF BOSTON AS A TRIPLE A STABLE RATED MUNICIPALITY A RATING THAT WE HAVE EARNED FOR THE LAST DECADE. IN THAT REPORT, MOODY'S CITES THE CITY'S HIGH RELIANCE ON PROPERTY TAX REVENUE AND ITS STRONG FISCAL MANAGEMENT AS A CREDIT POSITIVE THAT WILL ALLOW US TO MANAGE THROUGH CHALLENGING FINANCIAL TIMES AND FURTHER CONTINUE TO EARN OUR TRIPLE-A RATING.  OUR TRIPLE-A RATING MATTERS BECAUSE IT DRAMATICALLY DECREASES OUR BORROWING COSTS WHICH MEANS WE CAN STRETCH OUR DOLLARS FURTHER AND PROVIDE MORE ESSENTIAL SERVICES TO OUR CONSTITUENTS. A LOWERED RATING MEANS THAT MORE OF OUR BUDGET WILL HAVE TO BE SPENT ON PAYING BACK INTEREST TO OUR LENDERS RATHER THAN ON CRITICAL CITY SERVICES . I THINK THAT'S ALL I HAVE PREPARED SO WE THANK YOU AGAIN FOR HAVING US HERE TODAY AND LOOK FORWARD TO YOUR QUESTIONS AND FURTHER DISCUSSION. THANK YOU CHIEF GREENBERGER. COMMISSIONER ARNAUD, DO YOU HAVE ANYTHING PREPARED REMARKS THAT YOU'D LIKE TO SHARE AT THAT COUNCILOR AND REALLY APPRECIATE THE CONVERSATION AROUND THIS? I KNOW THAT YOU KNOW, NO ONE REALLY LIKES TO TALK ABOUT PROPERTY TAXES WHICH I KNOW VERY CLEARLY BECAUSE MY JOB ALL DAY EVERY DAY IS TO TALK ABOUT THEM. SO YOU KNOW, I CAN UNDERSTAND APPRECIATE WHY THEY ARE BUT BROADER CONVERSATION BECOMES A LITTLE A LITTLE CHALLENGING AND THERE ARE LOTS OF OPINIONS ABOUT IT ABOUT IT. I JUST WANT TO HIGHLIGHT SOME POINTS THAT MY BOSS MADE AND SOME INFORMATION THAT IS IN THE BOSTON MUNICIPAL RESEARCH BUREAU REPORT THAT THEY PUT OUT. YOU KNOW, ONE OF THE SUGGESTIONS THAT MIKE WALLACE MENTIONED TODAY WHICH I THOUGHT WAS A GOOD ONE IS SHE BROUGHT UP THE FACT THAT THE SHIP DOES NOT NEED TO GO UP TO 200% AND THE BEAUTY OF THE LEGISLATION THAT WE PUT FORWARD IS THAT IT NO CHANGES NEED TO BE MADE TO THAT LEGISLATION AND THE SHIP IS ENTIRELY CONTROLLED BY WHAT THE CITY COUNCIL AND THE MAYOR DECIDE TO DO WHEN WE ACTUALLY SET TAX RATES. LATER ON THIS YEAR AND SO WE HAD THAT FLEXIBILITY TO TAKE A LOWER NUMBER AND SO TODAY SHE PRESENTED SOME OPTIONS USING THEIR SCENARIO ABOUT WHAT THEY THINK WILL HAPPEN TO VALUES AND SHE PRESENTED SOME ALTERNATIVE LEVELS THAT WE COULD SHIFT TO. WE WOULD HAVE ALL OF THOSE OPTIONS AND WE WOULD BE ABLE TO FIGURE OUT WHAT THAT RIGHT BALANCE POINT IS WHICH I THINK LEADS A LOT INTO WHAT PEOPLE HAVE BROUGHT UP TODAY WHICH IS THIS CONCEPT OF LIKE SHARED SACRIFICE AND HOW WE SHOULDN'T BE PITTING ONE GROUP AGAINST ANOTHER AND WE'RE REALLY TRYING TO FIND A BALANCE SOLUTION. OUR PROPOSAL IS THAT BALANCED SOLUTION. IT HAS LIMITS THAT ARE BUILT INTO IT TO MAKE SURE THAT WE CAN EVEN REACH 200% IF THERE IS NOT A SIGNIFICANT VALUE DROP.  AS WAS NOTED IN THE BOSTON MUNICIPAL RESEARCH BUREAU REPORT.  SO WHEN THEY DID DATA BASED ON A 10% DROP IN COMMERCIAL VALUE AND A 5% INCREASE IN RESIDENTIAL VALUE, THEIR TAX RATE SCENARIO DOESN'T REACH THE 100% THRESHOLD. THAT'S THE MAXIMUM THAT TARGET THE 200% THRESHOLD THAT'S THE MAXIMUM THE MOST THAT THEY COULD REACH WAS 192.5% SHIFT AND SO THAT WAS THE MAXIMUM SHIFT THAT WOULD BE ALLOWED IF THIS LEGISLATIVE CHANGE WERE TO GO FORWARD. THERE'S NOTHING THAT REQUIRES US TO GO TO 200% IF THERE ISN'T A DRAMATIC VALUE DROP AND IN FACT LEGISLATION WOULD PREVENT US FROM GOING TO 200% IF THERE IS NOT A DRAMATIC VALUE DROP WHICH I THINK IS REALLY IMPORTANT TO HIGHLIGHT. THE OTHER POINT THAT I WANT TO MENTION IS THAT EVEN USING THAT THERE'S THERE'S BEEN A LOT OF TALK AND CONCERN ABOUT ABOUT SMALL BUSINESS ESPECIALLY AND THE IMPACT IN THE WAY THAT TEXTURE PASSED THROUGH.  SO AGAIN USING THE MOSBY MUNICIPAL RESEARCH BUREAU'S NUMBERS, IF YOU HAVE A PROPERTY THAT HAS THEY LOOK AT AN OVERALL DROP IN COMMERCIAL VALUE OF 10% AND I THINK THE REASON FOR THIS PROPOSAL IS A CONCERN OF LIKE WHAT'S HAPPENED DURING A PANDEMIC AND KIND OF THE IMPACT THAT IT'S HAD ON OUR ECONOMY AND THAT'S NOT JUST AN OFFICE SPACE ISSUE THAT IMPACTS GROUND FLOOR RETAIL, IT IMPACTS NEIGHBORHOOD BUSINESSES, IT IMPACTS ALL THE SMALL BUSINESSES THAT WE'RE TALKING ABOUT. THERE'S LESS FOOT TRAFFIC. THEY DO LESS BUSINESS THERE.  COSTS ARE GOING UP. THEY'RE THEY'RE NOT DOING AS WELL. THEIR PROPERTIES THEN WORTH LESS AS A RESULT. RIGHT. AND SO IF YOU HAVE THAT SMALL BUSINESS AND LET'S SAY THEY HAD THAT AVERAGE DROP IN VALUE OF 10% WE'RE TALKING ABOUT A 1.8% INCREASE IN THEIR REAL ESTATE COSTS YEAR OVER YEAR UNDER THAT SCENARIO WE'RE NOT TALKING ABOUT A DRAMATIC SHIFT THAT ALL OF A SUDDEN IS GOING TO BE A TRIPLE INCREASE. NOW IF THAT SAME SMALL BUSINESS HAS A HIGHER DROP IN THEIR PROPERTY VALUE JUST 12%, THEN AT THAT POINT THEY'RE GOING TO BE PAYING LESS IN FISCAL YEAR 25 TAXES THAN THEY WOULD IN FISCAL YEAR 24. SO AGAIN, THE PROPOSAL IS DESIGNED TO MAKE IT SO THAT THOSE PROPERTIES THAT HAVE NOT BEEN DOING STELLAR AND HAVE BEEN IMPACTED BY THE CURRENT ECONOMIC CONDITION WE ARE NOT TRYING TO PUT THEM IN A SITUATION WHERE ALL OF A SUDDEN SPIRAL AND HAVE TO GO OUT OF BUSINESS. THAT IS IN NO WAY THE INTENT OF THIS LEGISLATIVE CHOICE. AND I ALSO WANT TO HIGHLIGHT KIND OF THE REASON BEHIND IT AND WHAT WE'RE CONCERNED ABOUT. SO IN THE BOSTON MUNICIPAL RESEARCH BUREAU REPORT THEY TALKED ABOUT IF THERE IS NO CHANGE THAT RESIDENTIAL TAXES COULD GO UP 16% IN THEIR THEIR SCENARIO OF THIS 10% COMMERCIAL VALUE DROP AND 5% RESIDENTIAL INCREASE DROP. SO THAT 16% THAT'S THAT'S FOR THE YEAR SO BUT WE BUILD QUARTERLY AND THE FIRST TWO QUARTERS ARE ESTIMATES BASED ON THE PRIOR YEAR YOU KNOW THIRD QUARTER IS WHEN THINGS GET TRUED UP SO WHAT THAT WOULD MEAN FOR RESIDENTIAL TAXPAYERS. SO CONDO OWNERS, SINGLE FAMILY OWNERS BUT ALSO APARTMENT BUILDINGS THAT HAVE THE ABILITY TO PASS ON THESE INCREASES TO THEIR TENANTS ESPECIALLY THOSE WITH MONTH TO MONTH LEASES.  THE DIFFERENCE BETWEEN THE BILL THAT THEY GET IN OCTOBER AND THE BILL THEY WOULD GET IN JANUARY WOULD BE A 32% SPIKE IN THEIR BILL THAT THEY THEN HAVE TO COVER AND PAY WITHIN 30 DAYS. AND SO THE POINT OF THIS LEGISLATION I WANT TO BE REALLY, REALLY CLEAR ABOUT THE INTENT. I THINK THE NUMBERS THAT MUNICIPAL RESEARCH BUREAU KIND OF PUT OUT REALLY KIND OF HELP US DEMONSTRATE THAT AND DEMONSTRATE THE IMPACT. THE POINT OF THIS IS TO TEMPER THAT INCREASE SO THAT THEY ARE NOT RESPONSIBLE COMING UP WITH THAT MONEY IN 30 DAYS. AND ON THE ALTERNATIVE THE BALANCE PART OF IT IS THAT COMMERCIAL PROPERTIES EITHER END UP WITH DECLINING TAXES IF THEY'RE STRUGGLING OR THEY END UP IN A SITUATION WHERE THEIR HOUSE GO UP EVER SO SLIGHTLY OVER THE PRIOR YEAR AND WE'RE NOT TALKING ABOUT A SHIP THAT ALL OF A SUDDEN THERE'S A SWEEPING BENEFIT TO RESIDENTIAL TAX PAYERS AS MANY PEOPLE HAVE MENTIONED, THIS IS SOMETHING THAT FACES OUT OVER FIVE YEARS BECAUSE WE ARE NOT WE DON'T HAVE BLINDERS ON. WE'RE NOT PRETENDING THAT THE COMMERCIAL MARKET OR ASSUMING THE COMMERCIAL MARKET ALL OF A SUDDEN NEXT YEAR IS GOING TO GO GANGBUSTERS AND EVERYTHING IS GOING TO BE CORRECTED AND THAT'S GOING TO SOLVE ALL OF OUR PROBLEMS. THAT IS NOT WHAT THIS IS DESIGNED TO DO. WHAT THIS IS DESIGNED TO DO IS TO PHASE IN POTENTIAL INCREASES ON OUR RESIDENTS OVER TIME SOMETHING THAT THEY CAN ACCOMMODATE MORE AND THEY CAN MORE EASILY ADJUST TO AS OPPOSED TO SAYING IN 30 DAYS YOU HAVE TO PAY 30% MORE THAN WHAT YOU PAID THREE MONTHS BEFORE. THANK YOU.  THANK YOU, COMMISSIONER. I KNOW.  OKAY. WE'LL GO TO MY COUNCIL COLLEAGUES AGAIN FOR 5 MINUTES WITH A QUESTION. IF WE FEEL LIKE THERE NEEDS TO BE ANOTHER ROUND WHERE I'M HAPPY TO DO THAT AGAIN JUST SAYING THAT WE HAVE A WAYS AND MEANS HEARING AT 2 P.M. AND OUR CENTRAL STAFF FOLKS NEED TO EAT LUNCH IN BETWEEN. SO WITH THAT I WILL GO TO COUNCIL PRESIDENT RICHIE LOUIJEUNE COUNCIL PRESIDENT AND COUNCILOR SANTANA AS A LOUIJEUNE YOU HAVE 5 MINUTES. THANK YOU AGAIN CHAIR AND THANK YOU FOR THIS REALLY ROBUST PANEL THAT REALLY ADDRESSES A LOT OF ISSUES. I WANT TO THANK EVERYONE FOR OFFERING THEIR INSIGHT. I WANTED TO ASK I GUESS I START WITH WITH YOU. THANK YOU FOR YOUR INSIGHT. THERE WAS A COMMENT MADE EARLIER IN I BELIEVE IT WAS BY THE ANSWER THAT THIS LEGISLATION WAS IN RESPONSE TO OFFSET THE DECLINE IN COMMERCIAL PROPERTIES OR COMMERCIAL VALUES. DO YOU INTERPRET THIS LEGISLATION AS SUCH?  I THANK YOU SO MUCH FOR THE QUESTION COUNCILOR AND I DO APPRECIATE ATTORNEY SWIFT BEING HERE. HE WE ACTUALLY INTERACT A LOT. HE HAS A LOT OF BUSINESS BEFORE MY OFFICE. IT'S KIND OF HIS JOB TO BASICALLY ARGUE WITH ME AND DISAGREE WITH THINGS THAT I SAY. SO THAT'S THE LAWYER I KNOW I KNOW WHAT THAT'S LIKE YOU KNOW YOU'RE ARGUE AND TO MAKE IT DIFFICULT. SO I APPRECIATE THAT COMMENT FROM YOU ATTORNEY SWIFT I JUST WANTED TO SEE HOW NEW YOU'RE UNDERSTANDING BECAUSE IN THE FRAMING AND THE WAY THAT YOU TALK ABOUT IN THE WAY OF YOU KNOW THAT THE CHIEF GARTENBERG WE'RE TALKING ABOUT AND THE WAY THAT I UNDERSTAND IT IS THAT THERE STILL NEEDS TO BE A SHIFT AND YOU KNOW, WE NEED TO MAKE SURE THAT WE ARE DOING EVERYTHING WE CAN AND I ACTUALLY APPRECIATE LIKE YOU SAID, THE NUMBERS THAT WE GOT FROM THE MUNICIPAL RESEARCH BUREAU BECAUSE I THINK THAT'S WHAT A LOT OF US WANTED TO SEE A LOT OF US WANTED TO SEE PROJECTIONS AND SO THANK YOU TO MARTY, YOUR TEAM FOR THOSE PROJECTIONS.  BUT LIKE LIKE NICK SAID, I ACTUALLY BELIEVE THE PROJECTIONS ARE HELPFUL FOR SAYING HOW DO WE BLUNT THIS 80% INCREASE POTENTIALLY ON RESIDENTS AND WHAT I'M SEEING, YOU KNOW, WITH THIS LEGISLATION ALTHOUGH THERE WOULD STILL BE AN INCREASE IN TAXATION FOR OUR RESIDENTS, IT BLUNTS IT AND PART OF THIS IS IN RESPONSE TO THE FACT THAT THIS DOESN'T CHANGE THE FACT THAT THERE'S STILL NEEDS TO BE A LEVY AND THAT WE NEED TO MAKE THE LEVY TO SMOOTHEN THE TRADE AND TRANSITION FOR OUR RESIDENCES AND THE TOTAL LEVY THAT WE SEE AS A RESULT OF THIS LEGISLATION. THE PROPOSED LEGISLATION ON COMMERCIAL PROPERTIES AND ENTITIES WOULD BE AROUND IS IT 1 TO 3% COMPARED TO IF WE DO NOTHING AS AN INCREASE OF ABOUT 18%? SO THAT'S THAT'S SORT OF WHAT THE GENESIS IN THE ROOT OF MY QUESTION IS YES, NO. SO I THINK I THINK THAT IS FAIR . SO THE REASON FOR THIS PROPOSAL RIGHT, IS TO TRY AND ACCOUNT FOR POTENTIAL MARKET CHANGES THAT WE SEE ON THE HORIZON. IF WE KNEW FOR CERTAIN THIS THIS WOULD BE A LOT EASIER. RIGHT. AND WE COULD GIVE LIKE VERY CLEAR DATA ABOUT DOLLAR TO DOLLAR WHAT THESE THINGS WOULD BE. UNFORTUNATELY THE WAY THE LEGISLATIVE CYCLE WORKS AND THE WAY THAT THE PROCESS WORKS IN TERMS OF GETTING NEW LAWS CHANGED IT TAKES SO MUCH LEAD TIME TO TRY AND GET THINGS IMPLEMENTED THAT WE HAVE TO INTRODUCE THEM AT A POINT IN TIME WHERE WE DON'T WE DON'T HAVE THAT HARD DATA BUT OUR CONCERN IS THAT YES, IF THERE IS A DRAMATIC DROP OFF IN COMMERCIAL VALUE THEN THE RESULT OF THE EXISTING MATH FORMULAS THAT ARE ESTABLISHED BY STATE LAW IS THAT WE WOULD HAVE THIS THIS SHIFT IN KIND OF WHERE TAXES GO AND THAT SHIFT WOULD OCCUR HONESTLY IRRESPECTIVE OF BUDGET CHANGES WHICH I THINK IS ALSO SOMETHING THAT'S IT'S REALLY IMPORTANT TO TO KNOW SO RIGHT SO LIKE EVEN IF YOU KNOW THERE ARE DEEP BUDGET CUTS ALSO THANK YOU TO MARTY WALSER FOR FOR ACCURATELY STATING WHAT THE REPORT IS IT'S NOT ABOUT DEEP BUDGET CUTS IT IS THEIR IDEA THAT WE NEED TO SLOW THE RATE OF INCREASING OF INCREASES BUT DOESN'T CHANGE THE FACT THAT YOU HAVE TO ACTUALLY HAVE THE LEVY AND THAT SOMEONE HAS TO PAY SOMEONE WHO HAS TO PAY THE BILL.  IT'S ABOUT THE DISTRIBUTION OF THAT PAYMENT AS 100% CORRECT. THANK YOU AND SORRY BECAUSE I DON'T KNOW IF I INTERRUPTED YOU IF YOU WANTED TO FINISH YOUR YOUR PRIOR THOUGHT.  NO, I THINK I'M GOOD.  I APPRECIATE THE QUESTION. I THINK IT WAS A GREAT ONE AND THEN I JUST LIKE TO STATE THAT LIKE I MEAN WE ARE NOT ANOMALOUS.  I ALWAYS LIKE TO LOOK TO WHAT OTHER CITIES ARE DOING, WHAT OTHER CITIES OUR ARE STRUGGLING WITH WHICH IS OFTENTIMES THE ROOT OF THE QUESTION THAT I ASK. YOU KNOW, THERE ARE THE TAX POLICY INSTITUTE PUT OUT THIS TAX POLICY CENTER WHICH IS A PRODUCT OF THE BROOKINGS INSTITUTE AND THE BROOKINGS INSTITUTION AND THE URBAN INSTITUTE PUT OUT THIS PAPER ABOUT THE FUTURE OF COMMERCIAL REAL ESTATE AND BIG CITY BUDGET AND IT TALKS ABOUT HOW THERE ARE REALLY NOT THAT MANY OPTIONS THERE. TWO ARE YOU KNOW, ONE INCREASE THE TAX RATE ON COMMERCIAL PROPERTIES WE'RE TALKING ABOUT THAT TODAY CURTAIL SPENDING AND SERVICES THAT MARTY WALSH TALKED ABOUT THAT THIRD, THEY COULD MAKE UP FOR THE SHORTFALL BY INCREASING TAX REVENUES FROM OTHER SOURCES WHICH WE WOULD ALL LOVE. I CAME INTO CITY HALL CHAMPIONING THIS. I ASKED CHIEF GROTHMAN BERGER AD NAUSEUM HOW WE DIVERSIFYING OUR REVENUE WAS UNFORTUNATE IS OUR LIMITED FORMAL AUTHORITY PAPERS WRITTEN BY FORMER PROFESSORS OF MINE ABOUT HOW DIFFICULT IT IS FOR US TO GET THOSE NEW REVENUE STREAMS BECAUSE OF HOW DEPENDENT WE ARE ON THE STATE AND REP MARTY WALZ YOU KNOW HOW YOU KNOW HOW DIFFICULT IT IS FOR US TO GET YOU KNOW WE'RE TRYING TO PUSH FOR PROPERTY TAX LOCAL LOCAL TAX OPTION WHEN IT COMES TO MEAL TOGETHER. THOSE THINGS ARE REALLY DIFFICULT AND THEN WE CAN ALSO THINK ABOUT HOW DO WE DO SOMETHING NEW, HOW ARE WE BEING CREATIVE ABOUT HOW WE ARE PAYING FOR NECESSARY WE'RE LOOKING AT OUR CITY BUDGET.  IT'S OUR NECESSARY FUNDS. SO YOU KNOW THE CITY OF DETROIT IS LOOKING AT TAXATION FOR LAND VALUATION NOW INSTEAD OF ON BUILDINGS WHICH I THINK ARE THINGS FOR US TO LOOK AT BUT THE INNOVATIVE THINGS THE THINGS THAT WE REALLY WANT ARE TAKE TIME AND ARE REALLY HARD BECAUSE OF OUR LIMITED HOME RULE AUTHORITY. SO I JUST WANTED TO THANK EVERYONE SORRY THAT YOU COLLECT . THANK YOU. THANK YOU SO MUCH. ARE YOU ABOUT 30 SECONDS? ARE BUT I APPRECIATE YOUR QUESTIONS. NEXT UP WE HAVE COUNCILOR PEPEN AND THEN COUNCILOR SANTANA. THANK YOU, MADAM CHAIR.  AND THANK YOU SO MUCH FOR THIS ROUND OF PUBLIC TESTIMONY. THANK YOU SO MUCH FOR YOUR INSIGHT AND FOR JUST BRINGING THIS TO THE CONVERSATION. I REALLY APPRECIATE IT. UM, ALL OF YOUR COMMENTS JUST BECAUSE IT BRINGS A GOOD PERSPECTIVE TO THE CONVERSATION AND ACTUALLY LEADS TO A QUESTION I YOU KNOW THAT WAS I REALLY APPRECIATE IT. MR SWIFT'S COMMENTS ABOUT ABOUT SHIFTING YOU KNOW, JUST THE CONVERSATION HERE IN CHIEF GRAFTON BERGER YOU MENTIONED THAT AND EVERYONE HAS MENTIONED HERE ALREADY ABOUT SHIFTING THE BURDEN ABOUT HOW SOMEONE HAS TO PAY. HAVE WE EVER CONSIDERED SHIFTING THAT BURDEN OR JUST SHIFTING THE TAX REVENUE TO PEOPLE TO THE LANDLORDS THAT ARE NOT OWNER OCCUPIED?  THANK YOU FOR THAT QUESTION.  SO YOU KNOW KIND OF UNDER THE AND I INVITE COMMISSIONER RENAUD TO STEP IN AND ADD ANY COLOR HERE BUT SORT OF IN THE WAY THAT PROPERTY TAXATION WORKS HERE IN THE COMMONWEALTH WE DON'T HAVE THE ABILITY TO KIND OF DO THAT DISTINCTION OF OF COMMERCIAL BUILDINGS BUT I INVITE NICK TO CHIME IN ON ANY TO EXPAND ON THAT. YEAH.  SO MUCH CHIEF. JUST A QUICK QUESTION BACK TO YOU COUNCILOR . ARE YOU ASKING ABOUT RESIDENTIAL LANDLORDS OR COMMERCIAL?  I JUST WANT TO MAKE SURE I'M ANSWERING YOUR QUESTION. RESIDENTIAL ACTUALLY.  SO FOR FOR ANY LENDERS OR ABSENTEE. YEAH. SO IN ACTUALITY THE WAY THAT WE USE OUR TAX CODE WE WE DO THAT CURRENTLY. SO IN BOSTON WE'RE ONE OF A VERY SMALL NUMBER OF COMMUNITIES THAT HAS A RESIDENTIAL EXEMPTION AND A LOT OF PEOPLE THAT EASY WAY TO THINK ABOUT THE RESIDENTIAL EXEMPTION IS THAT YOU'RE PROVIDING A BENEFIT TO OWNER OCCUPIED UNITS, RIGHT? THE WAY THAT THAT BENEFIT GETS PAID FOR IS IT GETS BUILT INTO THE RESIDENTIAL TAX RATE AND SO BECAUSE OF THE RESIDENTIAL PROGRAM'S EXISTENCE, OUR RESIDENTIAL TAX RATE IS HIGHER THAN IT WOULD BE WITHOUT IT.  BUT WHAT THAT MEANS IS THAT HIGHER VALUE PROPERTIES AND NON OWNER OCCUPIED PROPERTIES AND APARTMENT BUILDINGS IN ESSENCE HIGH RATE RESIDENTIAL PROPERTIES COULD ONLY BUILT INTO THE RESIDENTIAL SIDE OF THE EQUATION. THEY ARE SUBSIDIZED SAYING THE OWNER OCCUPIED UNITS AND THE LOWER VALUE PROPERTIES RESIDENTIAL PROPERTIES THAT WE HAVE.  SO IN ESSENCE YOUR $10 MILLION APARTMENT BUILDING IS SUBSIDIZING THE COST FOR THE $500,000 CONDO UNIT. OKAY. SO THAT ALREADY HAPPENS AND IS THERE ANY WAY TO INCREASE THAT RESIDENTIAL EXEMPTION?  SO WE ARE PRESENTLY AT THE STATUTORY MAXIMUM WHICH IS 35% OF THE AVERAGE VALUE OF RESIDENTIAL REAL ESTATE. WE HAVE PASSED LAWS IN THE PAST TO INCREASE THAT AMOUNT OVER TIME. HISTORICALLY WHEN WE DO THAT IS WHEN RESIDENTIAL PROPERTIES ARE ALREADY RISING DRAMATICALLY IN VALUE BECAUSE THEN WHAT HAPPENS IS THAT THE IMPACT OF INCREASING THE RESIDENTIAL EXEMPTION DOESN'T GET NOTICED AS DRAMATICALLY IN THE TAX RATE IN THE CURRENT ENVIRONMENT WHERE OUR CONCERN IS THAT THE RESIDENTIAL TAX RATE IS GOING TO SPIKE IF WE INCREASE THE RESIDENTIAL EXEMPTION AS WELL IT'LL IT'LL MAKE THAT SPIKE EVEN GREATER.  UM AND SO IT'S IT'S DEFINITELY AN IDEA WHERE CONSIDER THAT THE TIMING MIGHT BE CHALLENGING TO DO DO IT THIS YEAR. OKAY.  THANK YOU FOR THAT FINGERPRINTS OR IN THOSE QUESTIONS I'LL USE THE REST OF MY TIME AT YOUR.  THANK YOU COUNCILOR PROPANE YOU HAD A MINUTE SO PUT IT BACK ON SCHEDULE.  I LOVE THAT. OKAY. COUNSELOR SANTANA AND COUNSELOR BREADON.  THANK YOU, MADAM CHAIR.  I REALLY APPRECIATE THE PANELISTS WHO HAVE COMMENTS MADE THEIR TESTIMONIALS AND AVAILABLE TO ALL OF US.  JUST QUICK SORRY . SO MY QUESTIONS ARE FOR TRAVEL . SORRY , MADAM CHAIR. I'M HAVING SOME TROUBLE WHEN YOU COME BACK TO ME . OF COURSE. THANK YOU. NO PROBLEM. AND COUNSELOR BURTON AND THEN COUNSELOR FITZGERALD.  THANK YOU, MADAM CHAIR. I'M JUST CURIOUS. I KNOW WE'VE BEEN TALKING ABOUT THIS FOR YEARS.  33% OF THE PROPERTY IN THE CITY OF BOSTON IS NON TAXABLE.  COULD YOU BREAK IT DOWN? AND THIS MIGHT BE JUST AN ACADEMIC CURIOSITY AND MY POINT BUT THE FEDERAL AND STATE OWNED PROPERTY AND WHAT PERCENTAGE OF BABIES OF THAT IS IN THAT PIE CHART AND THEN AND THEN WHAT PERCENTAGE OF IT WOULD BE THE ADS AND MEDS AND NONPROFIT SECTOR YOU KNOW WHAT I'M GETTING AT? I DO. COUNSELOR THANK YOU SO MUCH FOR THAT FOR THE QUESTION AND UNFORTUNATELY I DON'T HAVE THOSE NUMBERS OFF THE TOP OF MY HEAD. WE DO REALLY SPEND SO MUCH OF OUR TIME FOCUSING ON THE PROPERTY THAT GENERATES REVENUE AS OPPOSED TO THE PROPERTY THAT DOES NOT.  BUT I CAN HAVE SOMEONE IN MY RESEARCH DEPARTMENT LOOK INTO THAT AND PULL THE DATA FOR YOU. YEAH. YOU KNOW, I THINK WE ALWAYS GO STRAIGHT TO THINKING ABOUT PILOT AS BEING THE ANSWER BUT I THINK IN REALITY THAT THE ADS AND MEDS ARE PROBABLY I DON'T KNOW IT'S NOT A HUGE A HUGE POINT PORTION OF OUR REAL ESTATE IS ACTUALLY STATE AND FEDERAL SO THAT YOU KNOW THINKING ABOUT WHAT WE MIGHT WANT OTHER SOURCES OF REVENUE WE CAN COME UP WITH LIKE I KNOW I ALWAYS ASK THIS QUESTION I THINK CONSTANTLY DIVISION HAS DONE IT FOR YEARS AS WELL LIKE WHAT OTHER SOURCES OF REVENUE CAN WE TAP INTO THAT'S NOT REAL ESTATE. I THINK WE'RE SO WE WERE LOSING OUR MINDS ABOUT 15 YEARS AGO WHEN IT WENT TO 50 OVER 50 SOMETHING PERCENT 55% OF OUR BUDGET WAS COVERED BY REAL ESTATE AND IT'S NOW HITTING 73%. SO YOU KNOW, WHAT CAN WE DO IN TERMS OF IDENTIFYING OTHER REVENUE SOURCES APART FROM PILOT NOW VERY MUCH UNDERSTANDING APPRECIATE THE QUESTION AND I THINK IT'S ALWAYS GOOD TO KIND OF TRY AND FIGURE OUT NEW WAYS TO TO GENERATE REVENUE.  OKAY, MARTY, DO YOU HAVE ANY THOUGHTS ON THAT MATTER? I MEAN I SPOKE WITH THAT. THANK YOU FOR THE QUESTION. THIS IS ACTUALLY THE SUBJECT OF ONE OF OUR UPCOMING REPORTS IN LIGHT OF THIS CONTROVERSY AND WE HAVE LOOKED AT THIS OVER THE YEARS MANY TIMES THERE HAVE BEEN PROPOSALS TO INCREASE NON PROPERTY TAX REVENUE, SOME OF WHICH THE CITY HAS ALREADY DONE. SO WHAT WE WANT TO BEGIN TO LOOK AT ARE WHAT ARE THE IDEAS PROPOSED IN THE PAST THAT THE CITY DIDN'T DO? LET'S UNDERSTAND WHY WERE THEY NOT REALLY GREAT IDEAS AND WE DECIDED NOT TO DO THEM OR DID WE HAVE OTHER SOURCES OF REVENUE THAT SOLVE THE PROBLEM AT THE TIME SO WE NEED TO GO BACK AND LOOK AT THE IDEAS THAT HAVE BEEN GENERATED IN THE PAST. WHAT DID AND DID NOT MOVE FORWARD AND WHY AND WHAT ARE THE OTHER IDEAS BECAUSE I THINK WHAT WE'RE EXPERIENCING WITH THIS SITUATION IS THE NEED TO GET REVENUE DIVERSIFICATION BACK AT THE TOP OF OUR COLLECTIVE AGENDA. YEAH, WE'VE HAD THE LUXURY OVER THE PAST NUMBER OF YEARS OF NOT HAVING TO THINK VERY HARD ABOUT THIS. I THINK THAT THOSE DAYS ARE OVER NOW THAT'S A LONGER TERM SOLUTION BECAUSE WE CAN'T JUST FLIP A SWITCH AND MAKE THAT HAPPEN. IT'S LIKELY TO GOING TO REQUIRE GOING BACK TO THE LEGISLATURE BUT IT'S SOMETHING THAT IF WE START NOW WE WILL BE READY BY NEXT YEAR TO PERHAPS DO ANOTHER HOME RULE PETITION YOU KNOW, THE NEXT LEGISLATIVE SESSION STARTS IN JANUARY SO SPEND TIME THIS YEAR LOOKING AT THIS COLLECTIVELY WE CAN BE READY FOR NEXT YEAR SO THAT A YEAR FROM NOW WE'RE MUCH FARTHER ALONG IN OUR THINKING AND HOW DO WE TACKLE THIS SO THAT WE DON'T CONTINUE TO RELY SO MUCH ON PROPERTY TAXES?  YEAH, I THINK YOU'RE I THINK WE'RE ON THE SAME PAGE AND YOU KNOW, THAT'S WHY WE ASKED THIS QUESTION. YOU KNOW, WE DODGED THE BULLET THAT WITH ARPA FUNDS BECAUSE WE WERE ABLE TO SPEND OUR FUNDS ON A LOT OF STUFF THAT BECAUSE ARPA WAS A REVENUE REPLACEMENT PROGRAM FROM THE FEDERAL GOVERNMENT AND BECAUSE WE WERE SO RELIANT ON REAL ESTATE TAXES WE DIDN'T THINK WE COULD USE THAT MONEY FOR A WHOLE LOT OF OTHER THINGS THAT OTHER CITIES WERE HAVING TO USE TO REPLACE IT LOST REVENUE. SO YOU KNOW, IT'S ONE OF THOSE THINGS IT'S A BLESSED ASSET TO IT SO IT'S A BLESSING AND A CURSE AND NOW WE'RE FACING THE CONSEQUENCES. SO I REALLY THINK AS A AS A BODY THE CITY COUNCIL AND ALL OF US NEED TO REALLY PUT OUR MINDS TO REALLY SERIOUSLY LOOKING FOR OTHER REVENUE SOURCES SO THAT WE'RE NOT SO INCREDIBLY RELIANT ON REAL ESTATE TAXES TO PAY OUR BILLS IN THE CITY. AND THAT'S REALLY JUST ALL I HAVE. SO I THANK YOU MADAM CHAIR.  THANK YOU. COUNCILOR BURDEN COUNCIL COUNCILOR FITZGERALD COME FROM HERE AND THEN COUNCILOR TRYING TO FIND AN EXEMPTION.  THANK YOU, MADAM CHAIR AND THANK YOU TO ALL MY COLLEAGUES FOR GREAT QUESTIONS. THIS HAS BEEN A VERY, VERY HELPFUL HEARING. SO THANK YOU TO THE PANELISTS AND COLLEAGUES FOR EVERYTHING.  I GUESS MY FIRST QUESTION WOULD BE TO CFO GROVER BERGER.  DESCRIBE WHAT WHEN YOU TALK ABOUT THE TRIPLE-A BOND RATING A GREAT OPINION PIECE BY THE WAY TODAY I READ THAT THEY CAME OUT LATE. YOU LAY IT OUT VERY WELL AS WELL THAT BUT IN IN THAT KEEPING THAT TRIPLE-A BOND RATE WHICH WE ALL AGREE IS SO IMPORTANT HAVE YOU REACHED OUT TO THE STANDARD AND POOR'S, THE MOODY'S AND TALKED TO THEM ABOUT THIS AND WHAT DID THEY SAY ABOUT ITS EFFECT ON THE TRIPLE-A BOND?  WELL, THEY SAY OH, THIS IS DEFINITELY GOING TO BE AHEAD OR ARE THEY SAYING HERE HERE ARE THE PITFALLS, ETC.? AND IF SO, WHAT ARE THOSE?  YEAH, SO THANK YOU FOR THAT QUESTION. SO WE MEET WITH THEM ON AN ANNUAL BASIS OR IN COMMUNICATION WITH THEM ON A USUALLY ANNUAL BASIS. TYPICALLY IT ACCOMPANIES A BOND SALE.  WE DIDN'T DO A FORMAL BOND SALE THIS SPRING BUT THIS AND THE LATEST REPORT THAT JUST CAME OUT FROM MOODY'S WAS A CHECK UP WITH THEM AND WE AND COMMISSIONER ANELLO AND OTHERS IN THE FINANCE CABINET HAD A PRETTY EXTENSIVE CONVERSATION WITH THE ANALYSTS AT MOODY'S ABOUT OUR EXPOSURE OR PERCEIVED EXPOSURE WHEN IT COMES TO PROPERTY TAX AND THE CITY'S LONG TERM FINANCES. AND YOU KNOW, THEY REALLY PUT US THROUGH OUR PACES RIGHT THERE. THEY ARE WANTING TO MAKE SURE THAT THEY ARE ASSESSING OUR RISK APPROPRIATELY.  BUT I THINK ULTIMATELY AND IF YOU HAD A CHANCE TO REVIEW THE MOODY'S REPORT THAT CAME OUT, THEY ULTIMATELY YOU KNOW, THEY NOTE THAT THIS IS A DYNAMIC HAPPENING IN THE CITY BUT BECAUSE OF THE WAY PROPERTY TAXATION WORKS AND THAT ABILITY TO, YOU KNOW, SHIFT TAXES FROM ONE SIDE OF THE LEVY TO THE OTHER, THE OVERALL STABILITY OF THE CITY FINANCES ARE SOUND AND SO THEY SORT OF NOTE THAT THIS IS A THING THAT IS HAPPENING BUT AS REFLECTED IN THEIR UPDATED OPINION BELIEVE THAT WE ARE STILL TRIPLE-A, WORTHY AND STABLE.  THANK YOU. AND I'M THINKING ABOUT WHAT MR SWIFT SAID EARLIER ABOUT YOU KNOW THAT JUST BY PASSING THIS WE COULD LOSE $2 BILLION IN COMMERCIAL VALUE IS THERE IS THAT SOMETHING THAT WE COULD THAT YOU AGREE WITH OR DO YOU SEE OR DO YOU SEE A DIFFERENT NUMBER OR IS IT JUST IF YOU COULD RETORT THAT ANY WAY POSSIBLE PLEASE SIR, THAT COULD BE I'LL LET COMMISSIONER ANELLO TOUCH BASE ON THAT PLEASE. THANK YOU. YEAH, I STRONGLY DISAGREE WITH THAT POINT. I VERY MUCH APPRECIATE THE POSITION THAT ATTORNEY SMITH IS COMING FROM BUT I DO NOT IN ANY WAY ENVISION THAT THIS IS GOING TO LEAD TO THAT LEVEL OF PROPERTY VALUE LOSS IF ANY. HONESTLY, THE WAY THAT ASSESSMENTS ARE STRUCTURED AND THE WAY THAT PROPERTIES ACTUALLY SELL ARE ARE DRAMATICALLY DIFFERENT AND IN TERMS OF OVERALL COST FOR MOST REAL ESTATE WE ARE WE ARE NOT A LARGE FACTOR OF THEIR OVERALL COST IN AND I GUESS AS MY LAST QUESTION A THANK YOU TO REPRESENTATIVE WALLS FOR SORT OF PROPOSING SOME OTHER SUGGESTIONS OF HOW TO SOFTEN THIS BUT I THINK YOU BROUGHT UP A GREAT QUESTION AS WELL JUST RECENTLY. IS THIS SOMETHING THAT HAS TO BE VOTED ON THIS YEAR OR IS THIS SOMETHING THAT HAS TO PASS THIS YEAR FOR ANY REASON OR IS THIS SOMETHING WE COULD WE SHOULD COULD OR SHOULD TAKE MORE TIME TO DISCUSS IN THE EYES OF THE ADMINISTRATION OR IS THIS THIS IS PERTINENT NOW AND IF SO, PLEASE EXPLAIN THE IMPORTANCE OF WHY NOW IS THAT A QUESTION TO ME ? COUNCILOR NICK JOHN EITHER ONE OKAY I'LL START AND OTHERS CAN CHIME IN. SO I THINK THE IMPORTANCE OF NOW IS TWOFOLD.  ONE, WE ARE OPERATING UNDER THE STATE'S LEGISLATIVE TIMELINE GIVEN THAT THIS HAS TO GO THROUGH THERE PROCESS. THERE'S FORMAL SESSIONS AND AT THE END OF JULY AND SO MEETING TO MAKE SURE THAT WE'RE ADHERING TO A TIMELINE AND HOPEFULLY GETTING LEGISLATION UP THERE TO TO MEET THAT TIMELINE. BUT I THINK THE ACTUAL PRACTICAL PURPOSE IS IS MORE IMPORTANT IN THAT WE WANT TO HAVE THIS TOOL IN PLACE. AND SO I THINK SOME OF THE CONCERN OR FRUSTRATION OR QUESTIONS THAT FOLKS HAVE HAD ABOUT THIS IS LIKE WELL WHAT IS GOING TO HAPPEN? LIKE HOW MUCH ARE OUR TAXES GOING TO GO UP? AND WE KEEP SAYING WELL WE DON'T REALLY KNOW BECAUSE WE HAVEN'T DONE OUR VALUE SETTING PROCESS AND THAT HAPPENS KIND OF IN THE MIDDLE PART OF THE CALENDAR YEAR AND IT HELPS INFORM TAX RATE SETTING THAT WE DO AT THE END OF THE CALENDAR YEAR.  SO WE'LL HAVE UPDATED VALUE INFORMATION IF WE DON'T HAVE THIS FLEXIBILITY WE WILL HAVE A VERY NARROW TO KNOW TIMELINE AVAILABLE TO US TO GET THIS IN PLACE IF WE SEE COMMERCIAL VALUES DECLINE IN SUCH A WAY THAT WE SEE 17 OR HIGHER PERCENT INCREASE IN RESIDENTIAL TAXES.  AND SO TO COMMISSIONER ARENDELLE THIS POINT IF THIS ISN'T IN PLACE AND WE SEE THAT THAT CHANGE IN VALUE AND SUBSEQUENT RESULT IN THE RESIDENTIAL TAXES, TAXPAYERS WILL HAVE 30 DAYS TO MAKE UP AN ENORMOUS INCREASE IN THEIR TAXES RELATIVE TO THE PRIOR TWO QUARTERS. AND SO THIS IS A PROACTIVE MEASURES SO THAT WHEN WE HAVE FINAL VALUE INFORMATION AND WHEN WE ARE SETTING TAX RATE AT THE END OF THE CALENDAR YEAR THAT WE HAVE FLEXIBILITY TO DEAL WITH THIS SO THAT WE ARE EITHER, YOU KNOW, NOT SCRAMBLING AT THE LAST MINUTE AS THEY WERE BACK 20 YEARS AGO OR JUST UNABLE TO GIVE OURSELVES FLEXIBILITY AND THEREFORE FORCING A SIGNIFICANT TAX INCREASE ONTO RESIDENTS TO ABSORB WITHIN 30 DAYS. THANK YOU VERY MUCH.  THANK YOU, COUNCILOR FITZGERALD. AND IF I COULD JUST ADD A QUESTION ON TO THAT. WHAT WHEN YOU SAY SCRAMBLE, WHAT DOES THAT MEAN?  AND WHAT HAPPENS IS YOU USE THE EXAMPLE FROM 20 YEARS AGO THE CITY AT THE TIME, YOU KNOW, DIDN'T HAVE THE VISIBILITY INTO THIS ISSUE AS AS IT WAS HAPPENING.  AND SO WHEN THEY SET VALUES IN THE FALL OF 2023 REALIZED OH NO, RESIDENTIAL TAXES ARE GOING TO GO UP BY I THINK IT WAS, YOU KNOW, ALMOST 40% THEY HAD TO VERY QUICKLY MOBILIZE WITH THE STATE LEGISLATURE AND THE COUNCIL AT THE TIME TO GET THIS MEASURE PUT INTO PLACE AND SO HAD TO ACT WITHIN A VERY QUICK TIMELINE BECAUSE THE STATE LEGISLATURE WILL NOT BE IN FORMAL SESSION AND AT THE END OF THIS CALENDAR YEAR BECAUSE THEIR FORMAL SESSIONS WILL END AT THE END OF JULY, WE DON'T HAVE KIND OF THE CERTAINTY THAT THEY WILL BE ABLE TO TAKE THIS UP BEFORE THE NEW SESSION BEGINS AND SO THEN WE WOULD BE IN A SITUATION WHERE WE JUST DON'T HAVE THAT FLEXIBILITY AND WE NEED TO MOVE FORWARD WITH THE RESIDENTIAL TAX INCREASES AS THEY WOULD BE.  THANK YOU. ADMINISTRATIVELY WHAT DOES THAT LOOK LIKE WITH WHAT WILL RESIDENTS GET ON THEIR TAX BILL AND WHAT WOULD IT TAKE TO WALK THAT BACK?  AND IF YOU HAVE ANY RESOURCE IF YOU HAVE ANY DOLLAR AMOUNT TO THAT TOO, PLEASE LET ME KNOW IN TERMS OF PRINTING AND MAILINGS AND ALL OF THAT I THINK I DON'T THINK WE WOULD BE ABLE TO WALK IT BACK. I, I DON'T THERE IS NO SCENARIO WHERE LIKE ONCE A BILL IS ISSUED WE CAN CHANGE THAT.  I MEAN I SUPPOSE WITH THE LAW CHANGE LIKE ANYTHING IS POSSIBLE BUT IT'S SOMETHING WHERE LIKE BASICALLY LIKE ONCE BECAUSE OF OUR OUR BUDGET AND OUR REQUIREMENT TO HAVE A BALANCED BUDGET LIKE ALL OF THESE THINGS PLAY INTO EACH OTHER AND SO WHEN THERE'S A DETERMINATION AND A NEED FOR THE REVENUE THAT WE HAVE TO COLLECT REVENUE WHAT ENDED UP HAPPENING IN 2003 IS IN THAT THIRD QUARTER THEY SENT AN ESTIMATED BILL.  SO A LITTLE EARLIER I WAS TALKING ABOUT THIS CHANGE BETWEEN AN ESTIMATED BILL AND A FINAL BILL AND SO HOW LIKE A 16% INCREASE FOR THE YEAR IS A 32% INCREASE FROM ONE QUARTER TO THE NEXT. WHAT THEY ENDED UP DOING WAS INSTEAD OF HAVING TWO ESTIMATED BILLS THEY HAD THREE ESTIMATED BILLS AND THEN HONESTLY I HAD LIKE AN AMAZING STROKE OF LUCK THAT THEY MANAGED TO GET THE LEGISLATION PASSED BEFORE THE FOURTH QUARTER BECAUSE IF THEY DID NOT THE ENTIRE INCREASE THAT WOULD HAVE BEEN SPREAD OVER TO BILLS WOULD HAVE JUST HAPPENED IN THAT ONE IN THE FOURTH QUARTER. AND SO ALL OF A SUDDEN THAT PLACED AN ENORMOUS AMOUNT OF RISK WITH PEOPLE'S ABILITY TO COME UP WITH MONEY THAT THEY HAVE NOT BUDGETED FOR.  AND IT'S KIND OF GIVES ME PALPITATIONS JUST THINKING ABOUT IT. WELL, THANK YOU FOR FOR ARTICULATING THAT DISTINCTION. I APPRECIATE THAT.  AND THEN YOU'RE MY COLLEAGUES WOULD BE FOR INDULGING ME . NEXT UP WE HAVE A COUNSELOR HERE AND THEN COUNSELOR FERNANDEZ INNOCENT AND COUNSELOR QUINN WELL, THANK YOU, COUNSELOR COLETTA THOSE WERE REALLY GOOD FOLLOW UP QUESTIONS SO I'M GLAD THAT YOU ASKED. SO I HAVE A QUICK QUESTION I MAKE GOOD TO SEE YOU.  CAN YOU GIVE ME I'M SORRY BECAUSE I WAS TRANSITIONING IN AND OUT OF SPACES AND PLACES BUT CAN YOU GIVE ME THE TOTAL AMOUNT OF WHAT THE AMOUNT OF THE INCREASE IS GOING TO BE TO THE PROPERTY OWNER? WHAT'S THE TOTAL IS A 900 OR IS IT A THOUSAND? WHAT TO PUT IT AFFORDABLE THINGS? YEAH I THINK SOME OF THE NUMBERS THAT I WAS TALKING ABOUT WERE WORKING OFF OF PROJECTIONS THAT THE BOSTON SCHOOL RESEARCH BUREAU PUT OUT IN THEIR REPORT AND SO IT'S IT'S A IT'S A BIT OF A HYPOTHETICAL RIGHT BECAUSE RIGHT NOW WE HAVE VALUES FINALIZED FOR THE YEAR AND SO WE'RE WE'RE KIND OF GUESSING AS TO WHAT MIGHT HAPPEN AND YOU KNOW, THE REASON FOR THAT IS THAT WE JUST WE WANT TO BE PREPARED IF WE IF WE NEED THIS TOOL TO TO PUT INTO PLACE SO USING THE BOSTON MUNICIPAL RESEARCH BUREAU NUMBERS AND THE SCENARIO THAT THEY PRESENTED WAS ONE WHERE COMMERCIAL VALUE DROPS YEAR OVER YEAR 10% AND RESIDENTIAL VALUE INCREASES 5% AND THEN UNDER THAT SCENARIO RESIDENTIAL PROPERTY BILLS FOR THE YEAR WOULD GO UP FOR FOR THE AVERAGE SINGLE FAMILY TAX BILL THE RESIDENTIAL BILL WOULD GO UP 16%. SO CAN I JUST LIKE BECAUSE JUST FOR THE FOLKS WHO FOLLOW ME JUST KIND OF LIKE I LIKE TO UNDERSTAND THINGS JUST KIND OF LIKE 16% OF WHAT LIKE JUST SO THAT WE CAN HAVE A REAL UNDERSTAND SO 16% OF IF YOU'RE IF YOU OWN A SINGLE FAMILY HOUSE 16% BUT THE GOING RIGHT NOW I DON'T KNOW IS $400,000 IT WOULD BE 16% OF THEIR THE PROPERTY VALUE RIGHT.  SO CAN YOU JUST GIVE US A DOLLAR AMOUNT 16% OF THAT? IS THAT WHAT WE'RE TALKING ABOUT HERE? YEAH SO I CAN SO WITH NO LAW CHANGE AND USING THE SITUATION THAT THE BOSTON MUNICIPAL RESEARCH BUREAU PRESENTED THE TAX BILL FOR THE AVERAGE SINGLE FAMILY HOME WOULD GO UP FROM 50 $522 TO $6,432. SO IT'S A $910 INCREASE FOR THE YEAR PER YEAR FOR THE WHOLE YEAR FOR THE WHOLE YEAR AND THAT'S FOR SOMEONE THAT IS GETTING THE RESIDENTIAL EXEMPTION.  THE REASON THAT I WAS TALKING ABOUT THAT IS A 32% INCREASE IS THAT WHAT WOULD HAPPEN IS THAT $910 INCREASE HALF OF THAT WOULD BE DUE IN THE JANUARY BILL AND THEN HALF OF THAT WOULD BE DUE IN THE FOLLOWING FOURTH QUARTER BILL THAT GOES OUT IN MAY. AND SO AS A RESULT THE INCREASE INCREASES SPREAD OVER TO BILLS INSTEAD OVER FOUR BUT SO IT'LL BE FOR LET'S JUST SAY FOLLOWING THE THREAT OF THAT YEAR SO IT WOULD BE $455 BUT WITHIN THE CALENDAR YEAR THAT YOU'RE PAYING.  YES. YEP. FOR EACH FOR EACH OF THOSE FOR THE THIRD QUARTER AND FOURTH QUARTER THAT WOULD BE THE INCREASE. SO FOR THOSE FINAL TWO BILLS OF THE YEAR SO THE TOTAL AMOUNT THAT PEOPLE WHAT WE'RE TRYING TO AVOID IS 950 BY AN AVERAGE IN EVERY HOUSEHOLD WOULD BE DIFFERENT BASED ON THE THEIR VALUE OF THEIR PROPERTY. OKAY, GREAT. THANK YOU FOR THAT EXPLANATION. I THINK THAT IT'S IMPORTANT OR AT LEAST FOR ME IT'S IMPORTANT TO MAKE SURE THAT WHEN WE'RE TALKING ABOUT THESE THINGS THAT MOST PEOPLE ARE NOT IN THE WEEDS OF THEY JUST WANT TO KNOW LIKE THE BASIC HOW WHAT THIS LOOKS LIKE AND HOW THIS YOU KNOW, WHAT'S THE BOTTOM LINE. AND I THINK SOMETIMES JUST WALKING THROUGH THIS PROCESS LIKE YOU DID WITH ME THERE IS REALLY HELPFUL. SO I JUST WANT TO THANK YOU FOR INDULGING ME IN THAT AND SO THANK YOU AND I'M CURIOUS AND YOU KNOW, I'VE BEEN I HAVE BEEN A BIG PROPONENT OF ALWAYS TRYING TO BE AS INNOVATIVE AS POSSIBLE WHEN IT COMES TO DEALING WITH ALL OF THE ISSUES THAT WE ARE GRAPPLING WITH HERE IN THE CITY OF BOSTON. AND I'M JUST CURIOUS ASHLEY AND NICK BOTH FOR YOU AND I'M HAPPY TO SEE YOU HERE.  WHERE'S THE APPETITE TO THINK LITTLE BIT OUTSIDE THE BOX ABOUT OTHER THINGS THAT WE COULD POTENTIALLY DO BECAUSE I REALLY AM CONCERNED WITH THE NARRATIVE THIS IS THE ONLY WAY BECAUSE THEN WHAT IT DOES IT CREATES AN ENVIRONMENT WHERE OUR CONSTITUENTS MAY HAVE BEEN LED TO BELIEVE THAT WE DON'T CARE ABOUT THEIR POCKETS WHICH THAT IS THE FURTHEST FROM THE TRUTH. AND SO I'M JUST CURIOUS WHAT OTHER YOU KNOW, IDEAS OR PATHWAYS HAVE YOU ALL CONSIDERED THAT DOES NOT CREATE THE NARRATIVE THAT BOSTON IS SO GOOD AT, YOU KNOW, AMPLIFYING THAT PITS PEOPLE AGAINST EACH OTHER? SO CAN YOU TALK TO ME ABOUT YOUR THOUGHT PROCESS AND WHAT OTHER AVENUES YOU HAVE EXPLORED ? SURE. THANK YOU FOR THAT QUESTION SO I, I DON'T THINK WE THINK THAT THIS IS THE ONLY SOLUTION, RIGHT? THIS IS A NARROW SOLUTION FOR ONE PARTICULAR ISSUE. BUT IF WE'RE TALKING ABOUT THE LARGER TRANSITION IN OUR ECONOMY, WE ARE NOT HERE TO REPRESENT THAT IF YOU ADOPT THIS EVERYTHING IN BOSTON'S ECONOMY IS GOING TO BE FINE AND YOU KNOW THIS IS THE SILVER BULLET TO EVERYTHING THAT WE ARE THINKING ABOUT AND ARE CONCERNED ABOUT. THIS IS JUST ONE TOOL AND I THINK THE THINGS THAT THE CITY IS THINKING ABOUT AND IS DOING SORT OF BEYOND THIS SPEAKS TO SOME OF THE WORK OF OUR ECONOMIC OPPORTUNITY AND INCLUSION CABINET. SO AND AND WORK WITH THE BPA ON PROGRAMS LIKE OUR COMMERCIAL TO RESIDENTIAL CONVERSION PROGRAM. WE'RE REALLY FOCUSING ON MAKING SURE THAT THE SPACES IN OUR CITY CONTINUE TO BE ACTIVATED AND REALLY SEEK TO PRESERVE SERVE THAT VIBRANCY AND INHERENT VALUE IN OUR CITY. RIGHT. SO DOING WHAT WE CAN TO PREVENT VALUE LOSS FROM OCCURRING AND SO LIKE I SAID, THE RESIDENTIAL CONVERSION PROGRAM WE HAVE WORKED YOU KNOW, WORKING ON THE NIGHTLIFE ECONOMY, OUR SPACE GRANT PROGRAM TO MAKE SURE THAT WE'RE ACTIVATING THOSE VACANT AND GROUND FLOOR RETAIL SPACES. WE ALSO SEEN SORT OF , YOU KNOW, HAPPILY OUR RETURN OF TOURISM, OUR EXCISE TAX REVENUES ARE INCREASING RELATIVE TO PRE-PANDEMIC LEVELS. WE'RE SEEING GREAT TOURISM NUMBERS COMING OUT OF LOGAN AND SO IT'S REALLY THIS PARTICULAR THING IS ONE SOLUTION FOR ONE PARTICULAR ISSUE BUT THERE IS SO MUCH THAT THE CITY IS ENGAGED IN TO ENSURE THAT WE ARE DOING WHAT WE CAN TO ENSURE THAT OUR LOCAL ECONOMY IS VIBRANT AND PRESERVED. I SEE MY TIME COMING UP MY LORD BUT SO I DIDN'T HEAR ANYTHING ABOUT PILOT AND I DIDN'T HEAR ANYTHING ABOUT OTHER, YOU KNOW, MEASURES BECAUSE WE DO THE POWER OF THE PULLEY THE THE WHATEVER YOU CALL IT LITTLE BULLY PULPIT BULLY PULPIT YOU KNOW WHAT WHY ARE WE YOU KNOW WHERE ARE WE WITH REALLY TRYING TO ONCE AND FOR ALL GET THESE HIGHER ED INSTITUTIONS THAT ARE OCCUPYING, YOU KNOW, THOUSANDS OF , YOU KNOW, SQUARE FOOTAGE HERE IN THE CITY OF BOSTON AND MAKING MILLIONS OF DOLLARS FROM THE STUDENTS WHO ARE OCCUPYING SPACES HERE WHERE WE IN REALLY HOLDING THAT UP AS A PATHWAY FORWARD AND FROM HERE THAT IS YOUR LAST QUESTION. THANK YOU SO MUCH. BOOKER TO ANSWER THANK YOU SO THANK YOU. IT AND THEN NOT MENTION US BECAUSE THAT DOESN'T MEAN THAT THERE'S NOT WORK HAPPENING JUST I WAS THINKING SLIGHTLY DIFFERENTLY BUT THERE YOU KNOW THE PILOT PROGRAM THAT WE HAVE HERE IN BOSTON IS A GREAT VOLUNTARY PROGRAM THAT WE HAVE HAD FOR MANY YEARS WITH OUR INSTITUTIONS AND REQUIRES CONTINUED CLOSE PARTNERSHIP AND AND AND WORK WITH THOSE INSTITUTIONS AS WE THINK ABOUT WAYS TO EVOLVE AND CHANGE THAT PROGRAM. SO IT IS WORK THAT IS VERY IMPORTANT TO US THAT IS ONGOING AND THOSE CONVERSATIONS ARE HAPPENING WITH THOSE INSTITUTIONS.  SO I'LL JUST KNOW FOR THE RECORD I, I GOT TO GO AROUND CONCERNS ABOUT THE COLLATERAL ABOUT THE SECOND ROUND TALKING ABOUT WE'RE ONLY IN THE FIRST ROUND RIGHT NOW. WELL I'LL BE BACK. THANKS VERY MUCH. THANK YOU SO MUCH FOR YOUR QUESTIONS. I APPRECIATE IT. ALL RIGHT. WE GOT OUR COUNCILOR BRENNAN, HIS ANDERSON COUNCILOR PLAN AND THEN COUNCILMEMBER.  THANK YOU, MADAM CHAIR. CHIEF.  GOOD AFTERNOON. ABOUT POLICY OR ALL WELL AND I'LL JUST GET RIGHT INTO IT.  SO SECTION TWO OF THE HOMEOWNER POSITION TALKS ABOUT ALTERNATIVE TIMELINES WHERE INSTEAD OF MAKING THE CHANGES FOR UP TO 25 TO 29 IT MIGHT BE 26 OR 30 OR 27 TO 31. CAN YOU TELL ME ONE WHO WOULD BE RESPONSIBLE AND THIS IS NOT RHETORIC WE WOULD BE RESPONSIBLE FOR MAKING THAT DECISION SINCE IT'S NOT SPECIFIED WHAT ARE THE REASONS THE CITY MAY CHOOSE TO CHANGE THE TIMELINE AND WHAT IS THE LIKELIHOOD THAT DEFERRING THIS CHANGE WOULD HAPPEN?  THANKS FOR THAT QUESTION. SO THE REASON WE PUT THE TIMELINE IN THERE AND THIS IS DIFFERENT THAN WHAT THE CITY DID BACK IN 2003 WHEN THEY INITIATED THIS IS BECAUSE WE'RE BEING A LITTLE BIT PROACTIVE HERE AND WE DON'T QUITE KNOW WHAT THE VALUES ARE GOING TO LOOK LIKE. WE COULD BE IN A SITUATION WHERE IF THIS LEGISLATION GOES THROUGH WE UPDATE OUR VALUES. WE FIND THE COMMERCIAL VALUE LOST THAT WE THOUGHT COULD HAPPEN HASN'T OCCURRED OR HAS NOT OCCURRED IN THE MAGNITUDE TO CREATE A SIGNIFICANT BURDEN ON RESIDENTS. BUT SAY SO MAYBE WE DON'T WE DON'T TAKE ADVANTAGE OF IT THIS UPCOMING YEAR BUT SAY WHEN WE'RE DOING THIS NEXT YEAR AND SORT OF THINGS MATERIALIZE AND BECOME MORE OF A TREND, WE SEE THOSE DECLINES IN COMMERCIAL VALUE THAT RESULT IN THAT SPIKE IN RESIDENTIAL VALUES. WE WOULD HAVE THE ABILITY TO SORT OF OPT IN AT THAT TIME AND START AT THAT FIVE YEAR CLOCK. SO IT'S IT'S PARTIALLY IT'S BECAUSE WE ARE BEING PROACTIVE THAT WE ARE GIVING OURSELVES SOME TIME AND OPTIONS TO TAKE ADVANTAGE OF THIS WHEN IF AND WHEN THE THE VALUE LOSS AND I THINK IN TERMS OF HOW WILL WE DECIDE SO I THINK AS HAS BEEN MENTIONED BEFORE THE CITY COUNCIL AND THE MAYOR ARE THE TWO DECISION MAKERS IN TERMS OF SETTING CLASSIFICATION EACH YEAR AND SO NOTHING ABOUT THAT PROCESS WILL CHANGE AND SO I ANTICIPATE THAT WHEN WE'RE DOING TAX RATE SETTING AT THE END OF THE YEAR WE WILL COME FORWARD WITH A RECOMMENDATION BASED ON VALUES AND JOINTLY SET THAT RESIDENT THE CLASSIFICATION PERCENTAGE WITH THE COUNCIL . THANK YOU CHIEF. BUT CAN YOU PROVIDE AND I KNOW THAT WE'VE ALLUDED TO THIS QUITE A BIT BUT CAN YOU PROVIDE A DETAILED PROJECTION OF OR EXAMPLES OF HOW THE LEGISLATION ACTUALLY SPECIFICALLY LIKE I JUST JUST IN TERMS OF THE IMPACT PROJECTIONS OF THE IMPACT, YEAH. THANK YOU. SO I THINK THE BEST EXAMPLE THAT WE'VE KIND OF BEEN TALKING ABOUT TODAY IS THE SCENARIO THAT WAS PUT FORTH IN THE RESEARCH BUREAU REPORT AND AGAIN AND THIS GOES BACK TO WE DON'T HAVE UPDATED VALUE INFORMATION SO IT'S DIFFICULT FOR US AT THIS POINT TO SAY WITH HARD NUMBERS WHAT'S GOING TO HAPPEN TO A PARTICULAR PROPERTY AND SORT OF HOW THIS WILL WORK AND WHAT CHOICES EXIST. BUT JUST TO REFERENCE THE ASSUMPTIONS THAT WERE PUT OUT IN THE RESEARCH REPORT, THEY ARE ASSUMING A 10% REDUCTION IN COMMERCIAL VALUE AND A 5% INCREASE IN RESIDENTIAL VALUE AND WHEN YOU TAKE THOSE TWO THINGS INTO ACCOUNT AND FLOW THAT THROUGH THE PROPERTY TAX FORMULA WITHOUT THIS LEGISLATION RESIDENT THE AVERAGE RESIDENTIAL TAXES WOULD GO UP BY ABOUT 16 AND A HALF PERCENT AND SO THAT IS KIND OF THE MODEL WE'VE BEEN TALKING ABOUT HERE TODAY TO KIND OF ILLUSTRATE THE IMPACT OF THIS OR OF NOT HAVING THIS LEGISLATION AND JUST TO FINALIZE THAT POINT, THE RESEARCH WHERE OUR REPORT DOES SAY THAT SORT OF IF MAXIMIZED TO ITS MAXIMUM ALLOWABLE LEVEL ,THE LEGISLATION WOULD RESULT IN A MUCH INCREASE IN RESIDENTIAL TAXES. I THINK THE REPORT REFERENCES TWO AND A HALF PERCENT.  SO THAT SORT OF DEMONSTRATES THE POWER OF THIS TO TAKE WHAT WOULD OTHERWISE BE A REALLY SIGNIFICANT INCREASE IN RESIDENTIAL TAXES AND MAKE IT MUCH MORE MODEST TO MANAGE. THANK YOU. AND HOW DOES THE CURRENT ECONOMIC SITUATION IN BOSTON COMPARED TO 2010 2004 I WE ROUGHLY SIT HERE WHERE A PREVIOUS SIMILAR MEASURE WAS IMPLEMENTED AND IF YOU COULD ALSO TELL ME HOW SHIFTING WORK PATTERNS AND THE RISE OF REMOTE WORK SPECIFICALLY IMPACTED COMMERCIAL PROPERTY VALUES IN BOSTON JUST A COMPARISON BETWEEN AND 20 22,004 SINCE WE'RE NOT IN SIMILAR NOT IN IDENTICAL SITUATIONS WHERE WE ARE TRYING TO IMPLEMENT SIMILAR RIGHT.  SO YEAH I WASN'T HERE BUT VERY DIFFERENT YOU KNOW DIFFERENT SITUATION WHERE THE ECONOMY WAS COMING OUT OF A RECESSION AT THE TIME AND SO YOU KNOW DIFFERENT DYNAMIC HERE AS OPPOSED TO US NOW POST-PANDEMIC WHERE WE HAVE LIKE YOU SAID SHIFTING WORK PATTERNS AND THAT IS PRECISELY WHY WE ARE PURSUING THIS LEGISLATION TO THE EXTENT THAT THOSE SHIFTING WORK PATTERNS AND HYBRID THE EXTENT THAT THEY HAVE AN IMPACT ON COMMERCIAL BUILDING VALUES WE WANT TO HAVE THE TOOL AND FLEXIBILITY IN PLACE TO ALLOW ALL TAXPAYERS TO KIND OF ADJUST TO WHATEVER THIS NEW NORMAL IS GOING TO BE IN THE EVENT THAT COMMERCIAL BUILDINGS CONTRIBUTE LESS TO THE CITY'S OVERALL TAX BASE.  THANK YOU. IN THINKING ABOUT IMPLEMENTATION TIMELINES, WHAT ARE TWO KEY MILESTONES AND TIMELINES FOR IMPLEMENTING THIS LEGISLATION IF APPROVED AND CAN YOU EXPLAIN THE ALTERNATIVE IMPLEMENTATION SCHEDULES AND THE RATIONALE BEHIND PROVIDING THESE OPTIONS? YOU SPOKE A LITTLE BIT TO IT BUT SPECIFICALLY TO IMPLEMENTATION.  YEAH. SO I THINK THE NEXT KEY MILESTONE AND KIND OF DECIDING IMPLEMENTATION IS WHEN WE UPDATE OUR REAL ESTATE VALUES AND THAT IS SOMETHING THAT COMMISSIONER ARNELL AND HIS DEPARTMENT WILL BE DOING THE COURSE OF THE NEXT SEVERAL MONTHS AND SO WE WILL HAVE A BETTER SENSE OF WHAT IS HAPPENING OUT IN THE WORLD AND WITH COMMERCIAL VALUES IN THE NEXT FEW MONTHS AND THEN OVER THE FALL AND THEN YOU KNOW, KIND OF IN TAKING THAT INFORMATION AND AND UNDERSTANDING WHAT THAT IMPACT IS GOING TO BE ON BOTH RESIDENTIAL AND COMMERCIAL TAX RATES WORKING WITH THE COUNCIL IN DECEMBER I THINK IT'S NOVEMBER AND DECEMBER TO SET THAT THOSE TAX RATES THAT WILL THEN BE REFLECTED ON THE BILLS THAT PEOPLE RECEIVE IN JANUARY OF 2025. ALSO WE'RE THINKING A LOT ABOUT IN TERMS OF MONITORING AND ADJUSTMENTS FOR THE NEXT FOUR YEARS BUT ARE THERE MECHANISMS IN PLACE FOR ADJUSTMENTS OR NECESSARY ADJUSTMENTS BEYOND THIS SHORT TERM THAT YOU FIND OUT AND EVERYTHING?  THAT'LL BE YOUR LAST QUESTION AND THEN TO TRANSFER BY?  OKAY. I THINK ONE THING THAT'S IMPORTANT TO NOTE TOO IS LIKE THE LEGISLATION IS JUST SETTING A CEILING NOT A FLOOR RIGHT?  SO IN EACH YEAR SAY WE OPT INTO A SCHEDULE THE FIRST YEAR YOU CAN GO UP TO 200. YOU DON'T HAVE TO GO TO 200. YOU HAVE FLEXIBILITY WITHIN AND UNDER THAT CAP TO PICK A RATE THAT MAKES SENSE AND YOU KNOW, WHATEVER IT IS THE MAYOR AND THE COUNCIL IS TRYING TO ACHIEVE IN TERMS OF TAX RATE AND THAT'S GOING TO BE THE SAME FOR EACH OF THE YEARS. RIGHT. YOU HAVE THE ABILITY TO ADJUST AND WORK WITHIN THAT CAP FOR EACH YEAR OF THE SCHEDULE WHICH YOU LOOK FORWARD TO. MORE QUESTIONS THANK YOU MANAGER THANK YOU FOR YOUR PATIENCE, COUNCILWOMAN IN THESE AREAS AND I APPRECIATE IT COUNCILOR FLYNN AND THEN COUNCILOR MURPHY AND COUNCILWOMAN OH THANK YOU, MADAM CHAIR. I GUESS MY QUESTION IS REGARDING FOR COMMERCIAL PROPERTY OWNERS AND IN PARTICULAR NEIGHBORHOODS ACROSS THE CITY, HOW WILL THIS PROPOSAL IMPACT NEIGHBORHOOD IN MAIN STREET THROUGHOUT THE NEIGHBORHOODS SINCE THEY ARE DOING WELL WITH BOSTON WORKING FROM HOME, PEOPLE ARE GOING TO RETAIL SHOPS AND RESTAURANTS. HOW MUCH TAXES WOULD THIS POTENTIALLY GENERATE AND IN WHAT IMPACT WOULD IT EVENTUALLY HAVE ON THESE BUSINESSES NOW THANK YOU SO MUCH FOR THAT QUESTION, COUNCILOR FLYNN YOU KNOW, IT REALLY DEPENDS ON THE THE INDIVIDUAL BUSINESS IN THE CIRCUMSTANCE SO I'LL SPEAK BROADLY BUT IT VERY MUCH IS TAILORED TO WHAT THE ACTUAL SPACE IS AND HOW THAT ACTUAL PIECE OF PROPERTY IS AND WHETHER ITS VALUE HAS GONE UP OR DOWN. IF WE USE THE BOSTON MUNICIPAL RESEARCH BUREAU KIND OF ANALYSIS WHERE THEY'RE TALKING ABOUT A 10% OVERALL DROP IN COMMERCIAL PROPERTY VALUE IF YOU'RE LOOKING AT A COMMERCIAL PROPERTY THAT LOST 10% OF VALUE, IT'S YEAR OVER YEAR WOULD INCREASE ABOUT 1.8%. SO TO ACHIEVE THAT OVERALL 10% DROP IN VALUE, YOU KNOW THAT'S THAT'S AN AVERAGE RIGHT BECAUSE YOU'RE MODELING COMMERCIAL PROPERTY FOR THE ENTIRE CITY INCLUDING YOU KNOW, PERSONAL PROPERTY AND A BUNCH OF OTHER FACTORS. AND SO FOR A BUSINESS WHOSE REAL ESTATE VALUE DROPS 12%,  THEY WOULD ACTUALLY BE PAYING LESS IN FISCAL YEAR 25 THAN FISCAL YEAR 24 UNDER THE SCENARIO THAT'S BEEN PRESENTED NOW TO THE POINT THAT YOU MADE ABOUT, YOU KNOW, PROPERTY VALUES AND PROPERTIES AND SMALL BUSINESSES DOING WELL AND THE KIND OF UNDERLYING AREAS OF THE CITY. YOU KNOW, I THINK IF WE FIND THAT THEIR PROPERTY VALUE HAS NOT BEEN IMPACTED, IT MIGHT BE THAT THERE'S NO NEED TO IMPLEMENT THIS TOOL. SO TO ACHIEVE A 10% DROP IN COMMERCIAL VALUE ACROSS THE CITY, THAT'S MORE THAN JUST OFFICE SPACE IN THE CENTRAL BUSINESS DISTRICT THAT NEEDS TO BE IMPACTED. THAT'S REALLY THAT WE NEED TO FIND THAT THERE IS A KIND OF PERVASIVE EFFECT IN KIND OF WHAT HAS HAPPENED TO OUR COMMERCIAL ECONOMY TO ACHIEVE THAT LEVEL OF OVERALL VALUE DROP. SO IF WHEN WE GO THROUGH OUR ANALYSIS WE GO THROUGH THE DATA RETURNS THAT WE GET FROM THESE BUSINESSES AND IT TURNS OUT THAT WE'RE NOT SEEING DROPS IN THEIR VALUE, THEN THIS TOOL WOULDN'T BE NECESSARY.  AND I FEEL LIKE THAT THAT ALSO IT'S IMPORTANT TO KIND OF HAVE THAT AS AS PART OF THIS CONVERSATION IS THAT WE'RE REALLY PROPOSING SOMETHING THAT IS FORWARD LOOKING TO ADDRESS.  IT'S A VERY SPECIFIC TOOL TO ADDRESS A VERY SPECIFIC PROBLEM. AND SO YOU KNOW, WE GET QUESTIONS ABOUT ALTERNATIVES AND WHAT OTHER STUFF THAT WE THINK ABOUT ARE THE REASON THAT WE HAVE THIS PROPOSAL IS THAT LIKE IT IS A VERY, VERY SPECIFIC PROBLEM WE ARE TRYING TO SOLVE FOR AND IT'S NOT ONE OF LIKE A BROADER REVENUE ISSUE THAT WE'RE TRYING TO SOLVE OR ANYTHING LIKE THAT IS PURELY TWEAKING THE CURRENT MATHEMATICAL FORMULA THAT IS BUILT INTO LAW THAT CONTROLS THIS SHIFT BETWEEN THESE PROPERTY CLASSES IN THANK YOU COMMISSIONER AND I GUESS MY I GUESS I WANTED TO FOLLOW UP BUT WOULD YOU DO HAVE ANY STUDIES OF A BUSINESS STUDY ON THE LONG TERM EFFECTS THAT IT WOULD HAVE ON BUSINESSES OUTSIDE OF THE DOWNTOWN AREA? I KNOW THEY PLAY A CRITICAL ROLE ALSO IN BOSTON'S ECONOMY BUT ARE WE STUDYING THAT IN DETAIL IN IN LOOKING AT A PARTICULAR NEIGHBORHOOD AND THE IMPACT IT WOULD HAVE ON THEM SPECIFICALLY TARGETING A BUSINESS DISTRICT IN SEEING WHAT AND SEEING IMPACT THESE PROPOSED TAX INCREASES HAVE? NOW THAT'S A REALLY GOOD QUESTION, COUNCILOR , AND IT'S A THOUGHTFUL ONE. YOU KNOW, UNFORTUNATELY THE NUMBER OF DAILY VARIABLES AND THE COMPLEXITY TO PROJECT OUT MULTIPLE YEARS OF PROPERTY VALUE IS IS NOT SOMETHING THAT WE KIND OF HAD THE CAPABILITY TO DO.  I PUT ON SLEEP VERY INTERESTED IN TALKING TO ANYONE THAT THAT HAD THAT CAPABILITY THAT IS AN EXTREMELY EXTREMELY COMPLEX CONCEPT AND MY GUESS IS IF SOMEONE DOES HAVE THAT ABILITY THEN THEY'RE PROBABLY NOT SHARING THAT INFORMATION BECAUSE THEY'RE USING IT TO BECOME EXTREMELY WEALTHY. IT IS IT'S JUST NOT THAT SIMPLE TO SAY HEY, THIS IS WHAT THIS PIECE OF REAL ESTATE IS GOING TO BE WORTH NEXT YEAR, NEVER MIND THE YEAR AFTER NEXT NEVERMIND FOUR YEARS DOWN THE ROAD THE TOOL HAS BEEN DESIGNED WITH THIS GRADUAL THAT MAKES IT SO THAT THE SHIFT CANNOT STAY AT THESE HEIGHTENED LEVELS AND HAS TO COME BACK TO THE CURRENT MAXIMUM OF 175% OVER THE COURSE OF A FOUR YEARS ONCE IMPLEMENTED. AND THE REASON THAT WE DESIGNED IT THAT WAY IS TO INTENTIONALLY LIMIT THE IMPACT ON OUR BUSINESS COMMUNITY AND TO MAKE IT SOMETHING WHERE THE COST INCREASE THAT WE'RE TALKING ABOUT IS BASICALLY A COST THEY'VE ALREADY BUDGETED FOR. AND SO THEN TO TEMPER IT SO THAT IF THIS TURNS INTO A LONG TERM NEW STABLE LEVEL WHERE THESE PROPERTIES ARE WORTH LESS THAT THAT IS SOMETHING THAT THEIR COSTS GO DOWN OVER TIME AS WELL THAT COULD I ALSO LISTEN CLOSELY TO REPRESENT OUT OF WALLS AND THANK YOU FOR YOUR TESTIMONY AND TO MEG AS WELL IN THE REPRESENTATIVE RECOMMENDED SOME POSSIBLE COMPROMISES WHICH I THOUGHT MADE SENSE YOU KNOW EVERYONE EVERYONE GIVING IN A LITTLE BIT AND WORKING TOGETHER RESPECTING EACH OTHER AND EVERYONE NOT GETTING WHAT EXACTLY EVERYONE WANTS BUT THOSE TYPES OF RECOMMENDATIONS PROPOSALS THAT THEY THAT REPRESENTATIVE WALZ MENTIONED WHICH WHICH I SUPPORT ARE THEY ON THE TABLE? I THINK THEY IT'S A GOOD PLACE FOR US TO HAVE A DISCUSSION AND CONSIDERING THEM SAYING WHAT IMPACT IT WOULD HAVE AND TRY TO COME UP WITH A COMPROMISE.  SURE. SO YOU KNOW THAT THE MAIN PROPOSAL THAT I HEARD FROM MS. WAS IS YOU KNOW, NOT GOING TO THE FULL SHIFT THAT WOULD BE ALLOWED UNDER THIS AND I HONESTLY THINK THAT'S A GOOD ONE. AND THE BEAUTY OF THE PROPOSAL IS THAT WE HAVE THAT FLEXIBILITY AND THAT ABILITY TO DECIDE THAT IT DOESN'T CHANGE ANYTHING ABOUT THE ADMINISTRATION AND THE COUNCIL'S RESPONSIBLE AND DUTY AND ABILITY TO SET A SHIFT EVERY SINGLE YEAR EVEN IF THIS LEGISLATION WERE PASSED WE WOULDN'T HAVE TO GO UP TO THE 175% SHIFT IF WE FELT THAT THAT WAS NOT THE APPROPRIATE LEVEL TO REACH. IT GIVES US THE FLEXIBILITY TO CHOOSE THE RIGHT AMOUNT AND CHOOSE THE RIGHT LEVEL BETWEEN KIND OF WHERE WE ARE AND WHERE WE THINK TAX RATES SHOULD BE OKAY.  I WOULD LIKE US TO AT LEAST HAVE A CONVERSATION MEETING IN THE MIDDLE AND LISTENING TO EACH OTHER, RESPECTING EACH OTHER AND NOT GETTING EXACTLY WHAT WE WANT. BUT THIS HAS TO BE A COMPROMISE AND THERE SOMEWHERE MY FINAL QUESTION BOSTON GETS A HOTEL MOTEL TAX. THAT'S CORRECT, ISN'T IT COMMISSIONER?  YES, SIR, THAT'S CORRECT.  DO WE DO WE GET A TAX ON POTENTIAL TAX ON AIRBNB THAT I WOULD PUNT OVER TO OUR CFO AND LET ME LET ME JUST LET ME JUST ASK MAYBE MAYBE THAT'S A SOLUTION.  MAYBE THAT'S A RECOMMENDATION TO CHIEF FINANCIAL OFFICER I JUST WANT TO GIVE YOU AN OPPORTUNITY. SURE. I CAN FOLLOW UP WITH SPECIFICS BUT I DO BELIEVE THE CITY DOES TAKE IN SOME REVENUE ASSOCIATED WITH SHORT TERM RENTALS.  WE ALREADY HAVE THAT IN THE BOOK.  OKAY. WE STILL WE HAVE A HOTEL MOTEL TAX, WE HAVE JET FUEL TAX. WE HAVE SOMETHING LIKE AIRBNB.  ARE YOU ABLE TO GET US ANY A COMPLETE LIST OF OTHER TAXES THAT WE MIGHT HAVE? YES, I WOULD BE HAPPY TO. WE WE CAN GIVE YOU A LIST OF ALL OF THE EXCISE TAXES AND JUST I WOULD ALSO LIKE TO MENTION AS PART OF THE MUNICIPAL EMPOWERMENT ACT THAT'S PENDING UP AT THE STATE HOUSE THERE IS AN ABILITY TO INCREASE SOME OF THOSE LOCAL OPTION IS BY A SMALL PERCENTAGE OF THAT IS PENDING.  THANK YOU AND THANK YOU MADAM CHAIR FOR GIVING AN EXTRA MINUTE. I KNOW I WOULD OVER MY TIME BUT THANK YOU VERY MUCH.  THANK YOU. JUST TO BE CLEAR, EVERYBODY'S GETTING 7 MINUTES. JUST IN FAIRNESS, FOLLOWING THE FIRST ROUND. CALL YOUR SENATORS, CALL YOUR REPS. WE NEED TO GET THAT MUNICIPAL EMPOWERMENT ACT PASSED. WE NEED TO DIVERSIFY OUR REVENUE AND I'M GOING TO PIGGYBACK OFF OF THAT QUESTION SO THAT WAS ALSO SOMETHING I WAS GOING TO BRING UP TO TALK ABOUT MEETING IN THE MIDDLE.  A REPRESENTATIVE ALSO TALKED ABOUT NOT HAVING TO GO UP TO THE FULL 200 IS THE AS SIMPLE AS BECAUSE IN THE COMPETITION IT SAYS SHALL NOT EXCEED UP TO 200 IS IS THAT THE FLEXIBILITY IF IT'S YES COOL IF IT'S NOT JUST FEEL FREE TO ELABORATE BUT IF IT IS JUST YES PLEASE JUST SAY THAT YES. CORRECT. OKAY. THANK YOU COUNCILOR MURPHY,  COUNCILOR WEBER AND THEN COUNCILOR ROB LINCOLNSHIRE AND THANK YOU TO THIS PANEL.  THANK YOU REPRESENTATIVE WALSH FOR YOUR THOUGHTFUL OVERVIEW OF WHAT I KNOW YOU AND YOUR TEAM HAVE BEEN WORKING HARD ON A FEW OF THE QUESTIONS I ASKED LAST TIME. I JUST WANT TO BRING BACK TO THIS PANEL WHAT IF THIS DOESN'T PASS WHAT HAPPENS? WHAT IS PLAN B ALSO JUST WANT TO UPLIFT I AM THANKFUL THAT THIS LAST FEW SPEAKERS HAVE HIGHLIGHTED THAT WE'RE NOT JUST TALKING ABOUT OUR DOWNTOWN THE HIGH RISES, OUR MACY'S AND AMAZONS WE'RE TALKING ABOUT OUR COFFEE SHOPS IN ROSLINDALE AND OUR SMALL BUSINESSES IN SOUTH BOSTON. SO AND WE ALSO HAVE BEEN COMMITTED IN THE LAST SINCE I'VE BEEN ON THE COUNCIL TO SUPPORTING OUR SMALL BUSINESSES WITH GRANTS AND ALL OTHER MONEY THAT WE'RE MAKING SURE IN THIS BUDGET TO KEEP THEM THRIVING AND OPEN KNOWING HOW IMPORTANT THEY ARE. SO I WOULD LIKE TO KNOW WHAT IFS IF IT DOESN'T PASS BUT ALSO THE WITH AN ANSWER TO WHAT IS DIVERSIFYING GOING TO LOOK LIKE IT'S BEEN MENTIONED A FEW TIMES AND WHAT WOULD THAT LOOK LIKE AND IF WE'RE SLOWING DOWN THE INCREASE TO SPENDING, HOW CAN WE DO THAT? HOW MUCH IS FIXED INCOME LIKE SALARY AND BENEFITS THAT WE CAN'T TOUCH AND HOW MUCH IS DISCRETIONARY FOR US TO MAKE THAT CHANGE?  OKAY.  OKAY. SO I WANT TO JUST MAKE SURE I HAVE YOUR QUESTIONS. WHAT IS THE PLAN B IF THIS DOESN'T PASS AND THEN HOW DO WE SLOW DOWN SPENDING?  WAS THERE ANOTHER QUESTION IN THERE? I'M SORRY , COUNSELOR. WELL, THERE WAS A FEW.  YEAH. WHICH ONE DID YOU SAY WHAT I GOT? WHAT IS PLAN B? WHAT DOES IT LOOK LIKE TO SLOWDOWN SPENDING AND HOW MUCH CAN WE WITH THE SPENDING AND THEN THE OTHER ONE WAS DIVERSIFYING. OH, GOT IT. THANK YOU.  OKAY. THANK YOU FOR RESTATING SO IF IF THIS LEGISLATION DOESN'T PASS WE WILL BE YOU KNOW WE WILL HAVE TO LIVE WITHIN THE CURRENT STATUTORY LIMITS AFFORDED TO US UNDER CURRENT PROPERTY TAX LAW WHICH MEANS WE WILL BE BEHOLDEN TO THE MAXIMUM SHIFT THAT CURRENTLY EXISTS OF 175 AND YOU KNOW, DEPENDING ON WHAT HAPPENS WITH VALUES,  THE RESIDENTIAL TAX RATE WILL WILL FLOW FROM THERE AGAIN USING THE THE SCENARIO IN THE MUNICIPAL RESEARCH BUREAU REPORT IF YOU ASSUME A 10% DECREASE IN COMMERCIAL VALUE AND A 5% INCREASE IN RESIDENTIAL VALUE THAT COULD RESULT IN A 16 AND A HALF PERCENT INCREASE IN RESIDENTIAL TAXES. SO WE WOULD BE CONSTRAINED BY THE CURRENT LIMITS AND ASSUMING THAT WERE THE LIMITS THAT WE HAD AVAILABLE TO US THAT WOULD BE THE IMPACT ON THE RESIDENTIAL TAX RATE IN TERMS OF THE QUESTION OF SLOWING DOWN SPENDING, I JUST I THINK IT'S REALLY IMPORTANT TO UNDERSTAND THAT SPENDING IS NOT AN INPUT INTO THE PROPERTY TAX FORMULA AND SO WHETHER THE BUDGET INCREASE WAS 8% OR 5% ASSUMING THAT WE ARE CHOOSING TO MAXIMIZE OUR PROPERTY TAX LEVY IN THE WAY THAT THE CITY HAS ALWAYS DONE SINCE PROP TWO AND A HALF HAS BEEN IN PLACE, THE SPEND THE THE THE GROWTH IN THE CITY'S BUDGET IS AS SEPARATE AND THE SPENDING IS SEPARATE FROM HOW THAT PROPERTY TAX IS CALCULATED.  SO I THINK THERE ARE LOTS OF GOOD REASONS FOR US ALL AS YOU KNOW SHARED STEWARDS IN THE CITY'S FINANCIAL HEALTH TO BE TALKING ABOUT WAYS IN WHICH WE SHOULD BE MINDFUL ABOUT SPENDING GROWTH AND ENSURING THAT WE BELIEVE THAT OUR SPENDING GROWTH WILL MATCH OUR REVENUE GROWTH GOING FORWARD BUT SIMPLY CUTTING SPENDING OR SLOWING SPENDING RELATIVE TO WHAT'S CURRENTLY IN THE BUDGET ALONE DOES NOT IMPACT THE UNDERLYING PROPERTY TAX FORMULA. THE ONLY THING THAT WOULD DO THAT IS IF WE TOOK LESS THAN OUR PROPERTY TAX LEVY AND I THINK IT'S KIND OF THE SAME IT'S SORT OF THE SAME ANSWER FOR DIVERSIFYING OUR REVENUE AGAIN, IT'S THE ONLY WAY THAT THAT CHANGES IS IF THE CITY MAKES A CHOICE NOT TO MAXIMIZE ITS FULLY ALLOWABLE PROPERTY TAX REVENUE.  IF WE HAD OTHER SOURCES OF REVENUE TO BACKFILL THAT WE COULD CHOOSE TO NOT DO THAT. BUT THE CITY HAS ALWAYS MAXIMIZED ITS PROPERTY TAX LEVY ALLOWED UNDER STATE LAW. IT IS THE THING THAT MOODY'S CITES AS A GREAT POINT OF STABILITY FOR US AS A CITY AND CONTRIBUTES TO OUR OVERALL RATING. SO JUST HAVING MORE REVENUE SOURCES IN AND OF ITSELF DOES NOT IMPACT ON US. IT'S REALLY TIED TO THE CHOICE ABOUT TAKING THE CITY'S FULL PROPERTY TAX LEVY AND I DO WANT TO ECHO WHAT I'VE HEARD SAID BEFORE BUT I DO BELIEVE THAT WE'RE VERY RESPONSE NIMBLE TO ALL THE PLAYERS IN THE CITY THE RESIDENTS, THE RENTERS, THE HOMEOWNERS, THE BUSINESS OWNERS. SOME LIVE IN THE CITY, SOME DON'T. SOME OF THE HOMEOWNERS LIVE IN THE CITY, SOME DON'T. EMPLOYEES TOURISTS WHO BRING IN A LOT OF REVENUE TO THE CITY. SO WHAT IS THE COMPROMISE? WHAT WOULD THAT LOOK LIKE IF WE WERE TO RETHINK THIS IF THERE WAS A PLAN B WHERE WE COULD NOT BE PUTTING IT ALL ON COMMERCIAL BUSINESS OWNERS AND SPREADING IT OUT AND WHAT WOULD THE DOLLAR AMOUNT LOOK LIKE TO THE HOMEOWNERS WHO SEEM TO BE THE MOST CONCERNED AT THIS MOMENT?  THEN IT MAY BE A SEPARATE I KNOW IT COULD BE JUST THE WAY THIS IS BEING PRESENTED TO THEM. SO WHAT WOULD YOU SAY WE COULD DO TO COMPROMISE BECAUSE IN THE END IF WE'RE HURTING OUR BUSINESSES AND WE'RE HURTING OUR IF THE DOWNTOWN BECOMES MORE EMPTY, IF OUR SMALL BUSINESSES NO SMALL RESTAURANTS OPENING UP AROUND MY NEIGHBORHOOD CLOSED IN SIX MONTHS AND I KNOW MANY PEOPLE WHO ARE EMPLOYED AT THESE PLACES BUSINESS OWNERS WHO THEN WOULD WANT TO MOVE OUT OF THE CITY IF THEY DO LIVE HERE IT WILL HAVE A RIPPLE EFFECT A NEGATIVE RIPPLE EFFECT? YEAH, ABSOLUTELY.  I THINK THIS PROPOSAL AS AS DRAFTED ALLOWS FOR THE ABILITY TO COMPROMISE.  RIGHT. IT IS SETTING A CAP AND THERE WILL STILL BE THE PROCESS THAT THE ADMINISTRATION AND THE COUNCIL WILL GO THROUGH TO DECIDE WHAT THAT AMOUNT SHOULD BE. AND SO I APPRECIATE THAT. SO COULD YOU EXPLAIN THEN WHAT WHAT YOU BELIEVE THAT IT IS A COMPROMISE AND THAT IT SETS A PATH? SO I WOULD LIKE TO HEAR LIKE WHAT IS THAT SO I CAN BE ON THE SAME PAGE AS YOU AND I CAN UNDERSTAND THAT WITH YOU. SURE.  SO AS PART OF THE TAX RATE SETTING PROCESS WE WILL BE IN FRONT OF YOU AT THE END OF THE YEAR TO TO SAY, YOU KNOW, HERE'S WHAT WE THINK TAX RATES SHOULD BE FOR NEXT YEAR AND IN LA AND IN PAST YEARS WE'VE BEEN CONSTRAINED BY THE CURRENT CAP OF 175 AND THE ADMINISTRATION THIS ADMINISTRATION PAST ADMINISTRATIONS, THIS COUNCIL PAST COUNCILS HAVE ALWAYS CHOSEN TO MAXIMIZE THE AMOUNT OF RESIDENTIAL AFFORDABILITY AND GOING UP TO THE ALLOWABLE CAP IF WE HAVE THIS TOOL IN PLACE THAT CAP ROSE UP TO 200% BUT WE WILL STILL HAVE THAT ABILITY AND DIALOG TO DECIDE OKAY, IF IT'S NOT 175 BUT IT'S NOT 200, WHAT IS THAT AMOUNT OR MAYBE IT IS 175, RIGHT? THERE'S STILL THE ABILITY FOR US AS WE ARE COLLECTIVELY SHARING IN THIS TAX RATE SETTING RESPONSIBILITY TO DECIDE TOGETHER WITH BUSINESSES AND RESIDENTS IN MIND WHAT IS THE APPROPRIATE RATE FOR US TO BE SETTING AND IF I MUST THINK COUNSELOR, IF I IF I MAY, I JUST WANTED TO CLARIFY IF YOU DON'T MIND WHAT I WAS GETTING AT IN MY TESTIMONY WHICH IS THAT THE HOME RULE PETITION COULD BE REVISED SO THAT 200% IS NOT THE CAP IN THE PROPOSAL. SO WHAT WHEN WHEN YOU'RE FOCUSING IN ON KIND OF WHAT'S A COMPROMISE WHAT I WAS TRYING TO OUTLINE EARLIER IS THAT THERE ARE ALTERNATIVES TO HAVING 200% BE IN WHAT THE CITY COUNCIL PASSES. SO THAT'S WHAT I WAS GETTING AT IS THAT YOU CAN HAVE A DIFFERENT CAP THAN WHAT IS CURRENTLY PROPOSED AND I THINK I HAVE 5 SECONDS IS IT 7 MINUTES THROUGHOUT? ONE THING I WOULD LIKE AT LEAST TO END ENDORSE A STATEMENT IF THERE'S NO TIME TO RESPOND BUT IT'S BEEN SAID A FEW TIMES WHAT IF THIS DOESN'T PASS AT THE STATE HOUSE AND MAYBE THE VOTES ARE COUNTED BEFORE THE SUMMER PETITION WAS EVEN DRAFTED? BUT WHAT IF IT DOESN'T PASS HERE ON THE COUNCIL AND NEVER EVEN MAKES IT TO THE STATE HOUSE? THEN WHAT WILL YOU ACTUALLY IN YOUR TEAM BE LOOKING AT? YEAH. SO LIKE I SAID WE'LL BE CONSTRAINED BY THE CURRENT LIMIT SET IN STATE LAW AND WE WILL, YOU KNOW, MOVE FORWARD WITH TAX RATE SETTING PROCESS UNDER THOSE CURRENT LIMITS. WHAT'S THE DOLLAR AMOUNT LIKE?  WHAT DO YOU SEE THAT BEING? IS IT LAYOFFS?  IS IT CUTS? SO WE WOULDN'T IS IT CUTTING MANAGEMENT POSITIONS IS INDIFFERENT SO IT MEANS YEAH SO NOTHING ABOUT THIS IMPACTS THE AMOUNT OF REVENUE WE ARE ALLOWED TO COLLECT SO WE WILL STILL BE ABLE TO COLLECT OUR FULL PROPERTY TAX LEVY. IT'S JUST A MATTER OF WHO IS GOING TO BEAR THAT BURDEN AND SO WE WE WILL WE WILL UNLESS THERE IS A DECISION MADE TO CUT HUNDREDS OF MILLIONS OR NOT TAKE THE PROPERTY TAX LEVY WE AND WE ARE EXPECTING THAT WE WILL STILL, YOU KNOW, COLLECT OUR FULLY ALLOWABLE PROPERTY TAX LEVY THANK YOU COUNCILMAN . THANK YOU FOR CAPTAIN WEBER THEN COUNCILOR WORRELL THANK YOU AND I THINK THERE'S A THERE'S A ROCK CRITIC WHO DESCRIBED WRITING AND HE SAID WRITING ABOUT MUSIC WAS TRYING TO IT WAS LIKE TRYING TO DANCE TO ARCHITECTURE I FEEL LIKE TALKING ABOUT TAXES IN A SIMILAR WORLD BUT SO CHIEF GRAFTON BERGER SORRY CAN CAN YOU JUST SEE WHERE YOU'RE TALKING ABOUT THIS? YOU'RE JUST TALKING ABOUT THIS AND I'M TRYING TO MAKE SENSE OF IT.  WE COLLECT THE MOST WE CAN UNDER PROP TWO AND A HALF IS THAT THAT'S RIGHT. AND IF WE WE'RE TALKING ABOUT OUTSIDE REVENUES, OTHER SOURCES OF REVENUE MY UNDERSTANDING IS IF WE HAD THAT YOU KNOW, WE WERE SORT OF COLLECTING FOR AN HOUR TO THE PILOT PROGRAM OR HAD HAD SOMETHING ELSE COMING IN THAT WE WOULD STILL COLLECT THE SAME AMOUNT UNDER PROP TWO AND HALF IN OUR REAL ESTATE LEVY IS THAT AM I RIGHT ABOUT YEAH I MEAN IT'S A BIT OF A HYPOTHETICAL RIGHT? BUT JUST TO SAY THAT WE AS A CITY HAVE ALWAYS MAXIMIZE OUR PROPERTY TAX LEVY AND AND THE POINT I WAS MAKING IS JUST BECAUSE YOU HAVE ADDITIONAL REVENUE SOURCES THAT DOESN'T CHANGE HOW MUCH YOU CAN GENERATE UNDER PROP TWO AND A HALF YOU WOULD HAVE TO MAKE A CONSCIOUS CHOICE TO NOT MAXIMIZE THAT AND YOU MIGHT DO THAT BECAUSE YOU HAVE OTHER SOURCES OF REVENUE TO KIND OF FILL THAT GAP. BUT THAT'S SORT OF THE DYNAMIC I'M EXPLAINING THAT JUST HAVING OTHER REVENUE IN AND OF ITSELF DOES NOT IMPACT THE PROP TWO AND A HALF CALCULATION BUT AND I'M SORRY BECAUSE THIS GETS INTO THE MASSES THE REASON WHY WE WE WOULD NOT DO THAT OR WE WOULD NOT WANT TO COLLECT LESS IS BECAUSE THE NEXT YEAR'S ABILITY AND WE'RE WE'RE WE'RE BOUND WE CAN ONLY COLLECT 2.5% MORE THAN THE PRIOR YEAR SO WE VOLUNTARILY YOU KNOW DIDN'T COLLECT $300 MILLION IN PROPERTY TAXES WE WOULD LOSE OUT ON ADDING THAT TO THE NEXT YEAR. IS THAT HOW THAT WORKS? YEAH.  AND COMMISSIONER ANELLO, PLEASE CHIME IN YOU EFFECTIVELY FORGO THAT I BELIEVE UNDER STATE LAW YOU COULD RECOUP PRIOR FORGONE LEVY BUT THE PRACTICAL IMPACT OF THAT IS IN ONE YEAR YOU WOULD BE NOT ONLY MAKING UP FOR PAST YEARS LEVY BUT COLLECTING THE NEW LEVY AND SO YOU WOULD YOU KNOW THERE WOULD BE A DRAMATIC INCREASE IN PROPERTY TAXES FROM ONE YEAR TO THE NEXT. BUT NICK, PLEASE CHIME IN IF I'VE NOT ACCURATELY DESCRIBED THAT. NO, THAT'S THAT'S THAT'S CORRECT.  SO OUR TAX SYSTEM AND I THINK THIS IS IMPORTANT TO NOTE VERY QUICKLY OUR TAX SYSTEM IS AN EXTREMELY CONSTRAINED SYSTEM AND THERE ARE A NUMBER OF OTHER MUNICIPALITIES THAT ARE CONSTANTLY MAKING DECISIONS ABOUT WHERE THEY NEED TO DO A PROPOSITION TWO AND A HALF OVERRIDE WHERE THEY NEED TO PUT PROPOSITION TO VOTERS BECAUSE THEY CAN'T OPERATE WITHIN THE CONSTRAINTS OF THE EXISTING TAX SYSTEM AND THE STATUTORY LIMITS. WE HAVE NEVER BEEN IN THE POSITION AS THE CITY OF BOSTON WHERE WE'VE HAD TO PUT THAT QUESTION TO THE VOTERS AND SAID LIKE HEY, WE NEED MORE MONEY TO GET THIS DONE THROUGH PROPERTY TAXES BUT TO BALANCE THAT WE ALSO NEVER MADE THE DECISION TO COLLECT LESS THAN THE ALLOWABLE LEVY UNDER PROPOSITION TWO AND A HALF. AND TO ASHLEIGH'S POINT DOING THAT WELL IT MIGHT NOT BE LIKE A TECHNICAL LIMIT TO COLLECT THAT MONEY IN THE FOLLOWING YEAR PRACTICALLY IT WOULD CREATE A MASSIVE JUMP IN TAXES IN THE YEAR THAT YOU TRY AND CAPTURE THAT MONEY BACK. AND SO THE PRACTICAL REALITY IS THAT IF YOU STOP COLLECTING TO THAT AMOUNT YOU'RE NEVER GETTING BACK UP TO THAT LEVEL. OKAY. AND THEN I'M SORRY , NICK, DO YOU I KNOW IN THE IN REPRESENTATIVE WALTZ'S REPORT THE ASSUMPTION IS FOR THE NUMBERS THAT WE HAVE WHICH ARE VERY USEFUL THANK YOU TO THE MUNICIPAL RESEARCH BUREAU FOR FOR ALL THEIR WORTH. BUT DO YOU DO YOU THE PRESUMPTION IS FOR THE NUMBERS WE HAVE THAT RESIDENTIAL LIVES OF THE FIVE PERSON COMMERCIAL VALUES WOULD GO DOWN 10%. IS THAT I MEAN IS THAT WHAT WE'RE EXPECTING WHAT I THINK IS SPECIFICALLY FOR A RESIDENT FOR THE COMMERCIAL VALUE IS LIKE YOU KNOW, WHAT DO WE WHAT WHAT DO YOU THINK OF THAT NUMBER?  IS THAT A GOOD NUMBER TO WORK OFF OF ? WE'RE EXPECTING IT TO BE MORE OR LESS. I THINK IT'S A GOOD NUMBER TO THINK.  THANKS FOR THE QUESTION. I THINK IT'S A GOOD NUMBER TO DEMONSTRATE HOW THE TOOL WORKS . I WOULD LOVE TO TELL YOU LIKE HEY THIS IS WHAT COMMERCIAL VALUES ARE GOING TO BE OVERALL THIS IS WHAT WE WERE ACTUALLY FACING.  I DON'T HAVE THAT DATA TOGETHER TO ACTUALLY SHARE AND IT'S YOU KNOW, THIS PROCESS THAT WE'RE GOING THROUGH TO KIND OF CREATE THIS TOOL IF AND WHEN WE NEED IT THE COMPLEXITY IN TALKING ABOUT IT IS THAT I CAN'T HAND OVER THOSE LIKE VERY EXACT PRECISE NUMBERS OF LIKE THIS IS WHY WE NEED THIS THING.  IT'S WE SEE THIS THING ON THE HORIZON. WE'RE CONCERNED THAT THIS MIGHT HAPPEN BUT ALSO, YOU KNOW, IN THE RECENT MOODY'S REPORT WHERE THEY YOU KNOW, REAFFIRMED OUR TRIPLE-A BOND RATING, THEY MENTIONED THAT ONE OF THE STRENGTHS OF THE CITY IS THAT OUR FINANCIAL TEAM THINKS ABOUT THINGS IN THIS WAY THAT WE ARE FORWARD LOOKING AND THAT WE ARE TRYING TO SEE PROBLEMS BEFORE THEY COME. SO IT ENDS UP BEING A LITTLE HARDER TO TALK ABOUT THEM IN ADVANCE BUT I THINK IT DEMONSTRATES OUR ABILITY TO TRY AND MAKE SURE THAT PEOPLE DON'T FEEL THE TROUBLE BECAUSE WE'VE ALREADY CORRECTED FOR IT. YEAH, I HAD A COUPLE OF QUESTIONS FOR ATTORNEY SWIFT ALUMS SORRY YOU'VE BEEN LEFT OUT. YOU ALSO WROTE YOUR REPORT.  THANK YOU. AND IF YOU'RE STILL HERE.  YES, I AM. OKAY. SO I GUESS YOU KNOW I THOUGHT THE THE INTERESTING THE INTERESTING PART OF YOUR REPORT WAS THE IMPACT OF THE PROPERTY TAXES ON COMMERCIAL PROPERTIES AND HOW THAT WOULD YOU KNOW HOW THIS WOULD ACTUALLY IMPACT OUR OUR COMMERCIAL PROPERTIES. SO I GUESS I THOUGHT ONE THING I WASN'T SURE ABOUT WAS THERE IS A PRESUMPTION THAT WE'RE HEARING THAT THE COMMERCIAL LANDLORDS WILL PASS ON THE INCREASES IN TAXES ON THE BUSINESSES OPERATING IN THOSE PROPERTIES THAT MY HOPE IS THAT AS THAT YOUR ASSUMPTION TO IT DEPENDS ON ON THE ASSET CLASS AND THEN THE LEASE SO FOR GENERALLY FOR OFFICE PROPERTIES THE UN ORDER IS PICKING UP THE BASE MEANING THE FIRST YEAR OF THE WASTE THEY PAY THE REAL ESTATE TAXES ON GROSSLY SPACES AND THEN ANY INCREASE IN REAL ESTATE TAXES IS BORNE BY THE TENANT DURING THEIR LEASE PERIOD FOR TRIPLE NET TENANTS LIKE RETAIL, LIKE YOUR TRADITIONAL BUSINESS, LIKE LIFE SCIENCE INDUSTRIAL THEY ARE GENERALLY RESPONSIBLE FOR FOR REAL ESTATE TAXES. OKAY BUT DUDE I GUESS MY SIDE WHAT MY QUESTION IS IF WE'RE DEALING WITH VACANCIES AND YOU KNOW I WOULD A COMMERCIAL LANDLORD FACTOR THAT IN WHETHER THEY SHOULD PASS ON THOSE COSTS OR WHAT IT IS THEY'RE JUST THEY IT'S LIKE THEY'RE COMPELLED TO DO IT LIKE YOU KNOW IF THEY'RE WORRIED ABOUT VACANCIES AND THEY'VE GOT A BUSINESS THAT MIGHT NOT BE ABLE TO HANDLE THAT EXTRA AMOUNT, WOULD COMMERCIAL LANDLORD STILL GO AHEAD AND DO THAT AND SAY I DON'T WANT TO I DON'T CARE WHETHER THAT BUSINESS FOLDS OR THAT MY MY GUESS IS THE COMMERCIAL LANDLORDS WOULD IT WOULD INCLUDE THAT INTO THE DECISION MAKING BUT I'M NOT ONE AND I NEVER REPRESENTED A COMMERCIAL LANDLORD THIS IS YOUR WORLD YEAH.  YEAH. THANK YOU COUNSELOR. I THINK THESE ARE VERY VERY GOOD QUESTIONS. YOU KNOW, RIGHT NOW I SPOKE ABOUT THE NEGATIVE ABSORPTION IN THE MARKET EACH QUARTER WE'RE SEEING MORE SPACE BECOME A BREAK AND THEN ABSORBED BY LEASE Q1 OF 2024 WE SOLD 900,000 SQUARE FEET BECOME AVAILABLE IN THE MARKET. SO THINGS ARE GETTING WORSE IN TERMS OF VACANCY.  WHAT THAT MEANS IS THAT TENANTS ARE DOWNSIZING AND OR LEAVING THEIR CURRENT OFFICE.  SO WHEN YOUR LEASE IS COMING UP IN THE LANDLORDS TRYING TO KEEP YOU IN YOUR SPACE AND THEY JUST YOU'RE NEGOTIATING ALL THE ELEMENTS OF A LEASE INCLUDING YOU KNOW, 14% INCREASE IN TAXES . YEAH YOU'RE GOING TO SEE LANDLORDS DOING ANYTHING POSSIBLE TO KEEP THOSE TENANTS IN THEIR SPACE ABSORBING MORE OF THE COSTS ASSOCIATED YEAH. OKAY.  YEAH YEAH I GUESS I MEAN I GUESS MEG MEANS ARE KIND OF IF YOU'RE STILL THERE IF IT IF YOU HAD ANY THOUGHTS ON THE RELATIONSHIP BETWEEN THE SMALL BUSINESS OWNERS AND THE COMMERCIAL LANDLORDS AND YOU KNOW WHETHER THEY WOULD BE ABLE TO WORK WITH EACH OTHER OR WHETHER WE'RE JUST GOING TO SEE COSTS PUT ON YOUR YOU KNOW, SMALL BUSINESSES AND COUNCIL MEMBER THAT'S YOUR LAST QUESTION. GO AHEAD NEXT SIX IN MY EXPERIENCE IN THE BACK BAY THESE COSTS ARE GOING TO TRICKLE DOWN AUTOMATICALLY TO THE TENANTS. SOME OF THE LARGER PROPERTIES HAVE HAVE DIFFERENT RENTS, DIFFERENT LEASE STRUCTURES IN SOME CASES BUT THERE'S A LOT OF THE SMALLER PROPERTY OWNERS AND YOU KNOW, I SAID IT'S A IT'S ABOUT 400 IN THE BACK BAY OF THE 525 MOST OF THEM HAVE THOSE TRIPLE NET LEASES.  IT WILL BE GOING RIGHT TO THE TO THE TENANT YOU KNOW THE BACK BAY ASSOCIATION WE'RE IN A BEAUTIFUL BUILDING AT 229 BERKELEY AND WE PAY FOR THE WE'RE NONPROFIT BUT THE COMMERCIAL TAXES GET PASSED ALONG TO US.  SO THE OTHER PIECE IS A LOT OF THE ASSUMPTIONS ARE THAT THE COMMERCIAL PROPERTIES ARE GOING TO GO DOWN WHAT I'M SAYING IS THAT THE SUCCESSFUL DISTRICTS AND THE NEIGHBORHOODS BECAUSE OF THE LACK OF VACANCY THE CITY WILL ASSESS THOSE BASED ON OCCUPANCY AND BASED ON THE LEASES THAT THEY HAVE AND IT WILL BE PASSED ALONG TO THE PEOPLE WHO ARE LESS ABLE TO ABSORB THE INFLATIONARY COSTS OF OTHER GOODS AND SERVICES ALONG WITH THIS. SO WE DO THINK THAT THIS IS GOING TO DO A LOT MORE HARM THAN I THINK THERE ARE GOING TO BE A LOT OF UNINTENDED CONSEQUENCES THAT THIS, YOU KNOW, VERY THOUGHTFUL DECISION WILL ENTAIL. BUT BUT WE ARE VERY CONCERNED ABOUT IT AND THIS IS NOT, YOU KNOW, JUST HITTING THE THE BIGGER COMPANIES ARE IN A POSITION TO SORT OF COUCH THIS IN A DIFFERENT WAY THAN THAN MOST OF THE COMMERCIAL PROPERTY OWNERS.  OKAY.  CAN I JUST END WITH ONE QUICK COMMENT? NOT EVEN A QUESTION CHAIR WHICH IS I MEAN I DO THINK THERE IS A DIFFERENCE THOUGH BETWEEN A BUSINESS THAT CAN PASS ON THE INCREASED COSTS TO THEIR CUSTOMERS AND AND RESIDENTS WHO CANNOT YOU KNOW, IN THIS MARKET MAYBE I'M WRONG ABOUT THAT AND SO SO MUCH OF THAT IS THE FACT MY MY THANK YOU CHAIR AND YOUR COUNCIL MEMBER COUNCILOR WORRELL AND I THANK YOU TO THE PANEL FOR BEING HERE . I KNOW THERE WAS A FEW NUMBERS THROWN OUT REGARDING THE AVERAGE SINGLE FAMILY TAX BILL . ATTORNEYS WERE I THINK HE GAVE 2500 IN THE BMI REPORT IT WAS LIKE AROUND 5000. NICK YOU ARE THE MAN WITH THE YOU'RE THE COMMISSIONER WEIGHED ALL THE INFORMATION AND YOU ARE ABLE TO SHARE WITH US THE AVERAGE TAX BILL FOR A SINGLE FAMILY ON A TRIP AND COUNSELOR ARE YOU LOOKING FOR THE AVERAGE TAX BILL FOR FISCAL YEAR 24 OR UNDER THE MUNICIPAL RESEARCH BUREAU SCENARIO?  I'M SORRY WE COULD DO YEAH WE COULD COMPARE TO THE MUNICIPAL BUREAU AND THEN ALSO PROVIDE FEBRUARY 22. SURE. SO THE AVERAGE TAX BILL FOR A SINGLE FAMILY RECEIVING THE RESIDENTIAL EXEMPTION AND FISCAL YEAR 24 WAS $5,522. OKAY, SO OKAY, AWESOME. AND THEN YEAH, GO AHEAD UNDER THE SCENARIO OUTLINED BY THE MUNICIPAL RESEARCH BUREAU AND WITH NO CHANGE TO THE CURRENT STATUTES UH IN FISCAL YEAR 25 THAT COULD GO UP TO $6,432.  THANK YOU. AND I KNOW THERE'S A UNDERLINING QUESTION ABOUT MAXIMIZING PROPERTY TAX LEVY AND ITS EFFECT ON OUR CREDIT RATING. WE'VE ALSO ALWAYS COLLECTED THE FULL COMMERCIAL SPLIT ALLOWED THAT IS THAT CORRECT? WE'VE ALWAYS YES. COUNTED THAT. THAT IS CORRECT AS LONG AS IT HAS BEEN AN OPTION WE HAVE ALWAYS GONE TO THE MAXIMUM BUT WE ARE NOT REQUIRED TO AND AGAIN THAT'S A DECISION THAT THE ADMINISTRATION AND THE CITY COUNCIL AGREE ON EVERY YEAR. ALL RIGHT. SO WOULD IT AFFECT OUR TRIPLE-A BOND RATING IF WE DIDN'T MAXIMIZE THAT SPLIT?  MY GUESS WOULD BE NO. OBVIOUSLY THESE RATING AGENCIES HAVE PROPRIETARY FORMULAS THAT THEY LOOK AT. BUT I THINK WHAT IF WHAT A RATING AGENCY IS INTERESTED IN IS DO YOU HAVE A STABLE SOURCE OF REVENUE AND PROPERTY TAX? IS THAT STABLE SOURCE OF REVENUE AND BECAUSE OF THE RULES AND STATUTES THAT GOVERN PROP TWO AND A HALF RATING AGENCIES HAVE CONFIDENCE THAT WE AS A CITY ARE GOING TO GENERATE THAT PROPERTY TAX REVENUES REGARDLESS OF WHO IS BEARING WHAT PERCENTAGE OF THAT RESPONSIBILITY.  THANK YOU. AND I KNOW IT'S A SCALE WE COULD GO ALL THE WAY UP TO 200. YOU KNOW, WE COULD STAY RIGHT AT THE POINT EVERY BITE SO IS THERE YOU KNOW WHAT ARE YOUR THOUGHTS ON HOW REBELS PROPOSED MAYBE MEETING IN A MIDDLE GROUND?  WHAT ARE YOUR THOUGHTS ON REDUCING THAT SCALE?  SO PERSONALLY I THINK THAT BEING IN THE MIDDLE IS A GOOD IDEA BUT I WOULDN'T CHANGE THE LEGISLATION AS PROPOSED. I THINK THAT THE TIME FOR FIGURING OUT THAT RIGHT LEVEL IS WHEN WE ACTUALLY KNOW WHAT THE PROPERTY VALUES ARE AND WE ACTUALLY KNOW WHAT THE POTENTIAL CONSEQUENCES ARE GOING TO BE AND THEN THAT'S THE TIME IN THE FUTURE WHEN WE HAVE ALL THAT INFORMATION WITH THIS TOOL IN PLACE THAT WE CAN SAY HEY, WE DON'T NEED TO GO TO 190%, WE CAN PUT THIS AT 188% OR 176% AND WE CAN WE CAN FINE TUNE IT TO A VERY TIGHT DEGREE AND AT THAT POINT I CAN PRESENT THE COUNCIL WITH BASICALLY ALL OF THE OPTIONS AND ALL OF THE POTENTIAL TAX RATES BASED ON A HALF A PERCENT INCREASE GOING FROM 175 UP TO 200 AND WE CAN FIGURE OUT WHAT THAT RATE NUMBER SHOULD ACTUALLY BE.  I THINK THE PROBLEM WITH CHANGING THE LEGISLATION NOW AND NARROWING THAT CAP IS THAT WE JUST DON'T HAVE ENOUGH INFORMATION TO KNOW IF THE BOSTON MUNICIPAL RESEARCH BUREAU SCENARIO IS IS THE REALITY. SO IF THERE IS A HIGHER DROP IN COMMERCIAL VALUE IT COULD WARRANT A SLIGHTLY DIFFERENT SHIFT AND IF WE LIMIT THE POTENTIAL CAP NOW WE'RE KIND OF CUTTING OFF OUR NOSE TO SPITE OUR FACE. AND SO I VERY MUCH AGREE THAT THIS IS A BALANCED DECISION AND WE SHOULD BE WEIGHING THE DAMAGE TO COMMERCIAL PROPERTY AND THE DAMAGE TO RESIDENTIAL PROPERTY OR BENEFIT TO EITHER DEPENDING ON HOW YOU KIND OF WANT TO PHRASE IT.  BUT THAT TIME AND THAT OPPORTUNITY TO WEIGH THAT IS WHEN WE HAVE ALL THE NUMBERS BEFORE US AND WHEN WE'RE MAKING THAT DECISION COLLECTIVELY IN NOVEMBER AND I SEE A TINY SQUARE HAS HIS HAND RAISED.  THANK YOU. SO I JUST I JUST QUICKLY WANT TO CHIME IN ON THE AVERAGE TAX, I STILL THINK THAT THAT NUMBER IS INACCURATE. I'M HAPPY TO CONNECT WITH COMMISSIONER ANELLO AFTER BUT YOU HAVE AN AVERAGE SINGLE FAMILY ASSESSMENT OF 563,000 IN FISCAL 24 AND A RESIDENTIAL EXEMPTION OF 331,000 THAT THAT WOULD LEAVE RESIDENTIAL TAXES OF 2500. AGAIN, I'M HAPPY TO TRADE NOTES ON THIS. I JUST WANT TO MAKE SURE THAT YOU GUYS HAVE ACCURATE INFORMATION BECAUSE UNDERSTAND ANYTHING WHAT THE IMPLICATIONS ARE. I WOULD ASSUME IS A BIG PART OF UNDERSTANDING THIS PROPOSAL . SO I JUST WANTED TO PUT THAT OUT THERE.  YOU MENTIONED KNOW I NEED REAL QUICK RESPONSE TO THAT.  NO, I APPRECIATE THAT ATTORNEY SWIFT THINKS THAT THE AVERAGE TAXES IN THE CITY ARE LOWER THAN THEY ARE BUT HAPPY TO TO HAVE THE CONVERSATION WITH HER ABOUT THAT AND IS ENOUGH TO DEMONSTRATE WHERE MY MATH COMES FROM IS THE TIME SINCE THE COMMISSIONER TELLS THAT I AND I ONLY HAVE SEVEN MINUTE GUYS STARTED SO I CAN'T YEAH I CAN'T MONITOR THIS CONVERSATION I GUESS MY OTHER QUESTION WAS YOU KNOW I'M I'M REALLY INTERESTED IN I HEARD YOU MENTION THAT YOU KNOW PROJECTING OUT THOUGH AFTER FIVE YEARS IT'S SOMETHING THAT YOUR YOUR OFFICE DOESN'T DO AT THE MOMENT. COMMISSIONER.  I KNOW BUT HOW OFTEN DO YOU FORECAST OR HOW OFTEN DO YOU GET THE DATA FOR THE COMMERCIAL PROPERTIES THAT DANIELA EVERY TWO YEARS. EVERY THREE YEARS. HOW OFTEN IS IT?  YEAH, NO THAT'S A GREAT QUESTION COUNCILOR SO WE UPDATE COMMERCIAL VALUES EVERY YEAR AND THE PROCESS THAT WE HAVE FOR GOING THROUGH THAT JUST IT TAKES THE ENTIRE YEAR IT'S VERIFYING THE ACTUAL PROPERTY DATA ITSELF.  IT'S SENDING OUT INFORMATION REQUESTS TO THE PROPERTY OWNERS SO THEY CAN REPORT BACK TO US ON THINGS LIKE THEIR INCOME AND EXPENSES AND THEIR VACANCY LEVELS. IT'S GOING THROUGH NATIONAL SURVEY DATA. IT'S LOOKING AT, YOU KNOW, LISTED SPACES AND WHAT THEY'RE RENTING FOR AND WHAT THEY'RE BEING MARKETED FOR. IT'S A WHOLE BUNCH OF DIFFERENT ASPECTS AND IT BASICALLY TAKES US EVERY YEAR THE ENTIRE YEAR TO TO GET THROUGH THAT YEAR'S DATA AND SPIT OUT VALUES AND THEN ATTORNEY SORT OF COMES IN AND TELLS US THAT WE'RE WRONG AND WE HAVE A LITTLE BACK AND FORTH ON IT AND THEN JUST WONDERING IF YOU GUYS YOU KNOW THERE'S SO MANY READS INSIDE OF THE CITY OF BOSTON WE THAT THAT YOU KNOW TO TRY TO DO THESE PROJECTIONS THEY USE YOU KNOW THE INTERNAL RATE OF RETURN FUTURE RATE OF RETURN AND CAP RATES TO DO THESE PROJECTIONS ON WHAT COMMERCIAL PROPERTY VALUE WILL BE. I IN THE FUTURE HAVE YOU GUYS WORKED WITH THEM TO KIND OF USE THEIR PROJECTIONS TO SEE WHERE BOSTON COMMERCIAL PROPERTY VALUES WILL BE AT THE END OF THIS FIVE YEARS AND YOU COUNCILOR WORRELL YOUR LAST QUESTION YOU KNOW BASED ON THE NUMBER OF VARIABLES INVOLVED WE HAVE NOT WHAT TO THOSE TO TRY AND FORECAST THE FUTURE WE WE REALLY HONESTLY SPEND THE MAJORITY OF DEPARTMENT RESOURCES MAKING SURE WE'RE GETTING THE CURRENT YEAR CORRECT SO THAT NO ONE'S BEING ASKED TO PAY MORE THAN THEY SHOULD BE.  THANK YOU. COUNT MY TIME. THANK YOU. THANK YOU.  I'VE BEEN INFORMED BY A COUNCILOR THAT HE IS IN A COMMITMENT SO I'LL JUMP INTO MY QUESTIONS. WANT TO THANK EVERYBODY FOR THIS ROBUST CONVERSATION I'VE LEARNED SO MUCH ALREADY JUST IN THIS IN THIS ONE GO ROUND I HAVE REVIEWED THE BOSTON MUNICIPAL RESEARCH BUREAU REPORT AND IT IS VERY THOROUGH AND I CAN JUST THANK YOU SO MUCH FOR YOUR WORK ON THAT MARTY AND ELAINE. EILEEN EXCUSE ME . I DO WANT TO TALK ABOUT THE ALTERNATIVES AND IT'S ALREADY BEEN DISCUSSED. I DID HAVE A CLARIFYING QUESTION ABOUT THE SHALL NOT EXCEED UP TO WHICH ALLOWS US THE FLEXIBILITY IN THE EVENT THAT WE DON'T NEED TO GO TO 200 AND THE ABILITY FOR US TO TO REALLY ASSESS AND COME BACK TO WHAT THE RIGHT PERCENTAGES. AND SO I APPRECIATE THAT FLEXIBILITY AND I THINK IN THIS MOMENT IN TIME IT DOESN'T REQUIRE A AN AMENDMENT OR CHANGE IN THE LANGUAGE IN THAT REGARD.  I'M CURIOUS ABOUT SOME OF THE OTHER ALTERNATIVES THAT HAVE BEEN INTRODUCED WITH THE REPORT. SO THE RESIDENTIAL EXEMPTION I BELIEVE IN THE REPORT AND I DON'T WANT TO GET THIS WRONG BUT THEY MENTIONED THAT ANOTHER OPPORTUNITY TO MAKE HOMEOWNERSHIP MORE AFFORDABLE IS TO INCREASE THE RESIDENTIAL EXEMPTION WHICH GIVES A TAX REDUCTION TO OWNER OCCUPIED RESIDENTIAL PROPERTIES.  WHAT IS YOUR RESPONSE TO THAT AND WHY WE ARE NOT LOOKING AT THAT AS AN OPTION AND THANKS MUCH FOR THE QUESTION COUNCILOR . I MEAN I THINK IT'S ALWAYS WORTH KEEPING AN EYE ON OUR VARIOUS EXEMPTIONS AND MAKING SURE THEY'RE AT THE APPROPRIATE LEVELS AND RIGHT TO PROVIDE THE PROPER AMOUNT OF ASSISTANCE AND THEN THEN BALANCE THE COST OF THOSE THINGS.  RIGHT? SO SINCE THE RESIDENTIAL EXEMPTION IS BUILT INTO THE RESIDENTIAL TAX RATE AND USING THAT TO SOLVE THIS PARTICULAR PROBLEM DOESN'T IT DOESN'T ACTUALLY SOLVE IT SO IT MAKES IT MORE AFFORDABLE FOR LOWER VALUE PROPERTIES BUT THEN WHERE ALL OF A SUDDEN WILL HAVE A DISPARATE IMPACT IS ON APARTMENT BUILDINGS AND RENTERS AND HIGHER VALUE PROPERTIES AND SO THOSE THOSE SITUATIONS WHERE THOSE COSTS ARE BEING PASSED ON TO OUR TENANTS, YOU KNOW, WE WANT TO BE VERY RESPECTFUL AND ACKNOWLEDGE THE FACT THAT OUR CONSTITUENTS ARE NOT ALL PROPERTY OWNERS AND THAT YOU KNOW, COSTS OF LANDLORDS DO GET PASSED ON TO TENANTS WHETHER IT'S IN A 12 MONTH LEASE OR IN A MONTH TO MONTH LEASE. AND SO IN THIS TIME PERIOD INCREASING THE RESIDENTIAL EXEMPTION WE THINK WOULDN'T MAKE THE PROBLEM WORSE IN TERMS OF THE OVERALL RESIDENTIAL TAX RATE INCREASING AND WE THINK THAT THAT WILL POTENTIALLY BE A HIGH BURDEN ON OUR RENTERS.  THANK YOU SO MUCH. AND IT WAS ALSO TALKED ABOUT THE $1 BILLION IN RESERVE I KNOW THAT THE CFO HAD MENTIONED WILL HAVE ACCESS TO ABOUT HALF OF THAT WHICH IS FREE CASH I THINK IS WHAT YOU SAID AND WHY NOT UTILIZE THAT AS A AS A WAY TO HELP SPREAD OUT THE BURDEN OVER TIME? I DO LIKE THE SUGGESTION TO POTENTIALLY ALLOW THAT FOR FOLKS THAT ARE HOMEOWNERS.  RIGHT. AND JUST GIVING THEM THAT THAT RELIEF AS A WAY OF PUTTING IT IN A SPECIAL FUND. CURIOUS TO KNOW YOUR THOUGHTS ABOUT THAT. SURE. SO IT'S SOMETHING WE DON'T HAVE THE ABILITY TO DO CURRENTLY SO WE WOULD NEED A CHANGE TO STATE LAW TO ALLOW US TO DO SOMETHING LIKE A TAX REBATE. BUT WE'RE HERE TALKING CHANGING STATE LAW SO KIND OF SETTING THAT ASIDE AND PRETENDING THAT THAT IS SOMETHING WE COULD WE COULD GET. I THINK MY BIGGEST CONCERN WITH THIS PROPOSAL IS SORT OF THE THE ORDERS OF MAGNITUDE THAT WHAT IS THIS WORTH ARE SO SIGNIFICANT THE THE THIS TOOL IS SO POWERFUL IN ALLOWING US TO SHIFT, YOU KNOW, A SIGNIFICANT YOU KNOW, SIGNIFICANTLY SHIFT OUR OUR CURRENT PROPERTY TAX RESPONSIBILITY AND IN ORDER TO ACHIEVE A SIMILAR IMPACT THROUGH USE OF LIKE A REBATE OR SOMETHING MY CONCERN IS THAT WE WOULD EFFECTIVELY DRAIN ALL OF OUR EXPENDABLE RESERVES IN A VERY SHORT PERIOD OF TIME AND IT WOULD I MEAN IT HAS TAKEN US IT HAS TAKEN US YEARS AND YEARS TO GET TO THE LEVEL THAT WE ARE AT TODAY AND SO WE WOULD BE RESETTING TO ZERO AT A TIME WHERE YOU KNOW, ALL AND EVERYONE IS SAYING WE ARE ENTERING A PERIOD OF ECONOMIC UNCERTAINTY.  WE WOULD HAVE NO FLEXIBILITY AS A CITY TO DEAL WITH THAT ECONOMIC UNCERTAINTY IF ALL OF OUR RESERVES ARE SPENT IN THIS WAY. SO I THINK THAT'S MY MY LARGEST CONCERN WITH THAT PARTICULAR ALTERNATIVE. OKAY. THANK YOU SO MUCH FOR THAT AND I AM I DO I WANT TO BE CLEAR ABOUT WHERE WE'RE AT IN TERMS OF SMALL BUSINESS. SO WE WERE TALKING WE'VE BEEN TALKING ABOUT ALTERNATIVES,  THIRD OPTIONS AND YES AND, AN EITHER OR AND CAN YOU JUST EXPLAIN FOR US ON THE RECORD WHAT CURRENT WHAT CURRENT EXEMPTIONS ARE THERE FOR BUSINESSES? I KNOW IT'S A PERSONAL PROPERTY EXEMPTION AND CAN YOU JUST TALK ABOUT THAT AND WHAT THAT MEANS ? SO PRESENTLY THERE THE PERSONAL PROPERTY TAXES GOING TO GET A WHOLE HOST OF RULES AND REGULATIONS AND AND IT TURNS INTO A WHOLE VARIETY OF DIFFERENT THINGS AND YOU GET TAXED ON DIFFERENT STUFF DEPENDING ON WHETHER YOU'RE A CORPORATION OR AN LLC AND THERE'S A WHOLE BUNCH OF INS AND OUTS THE PART THAT I THINK YOU'RE REFERRING TO BUT PLEASE FEEL FREE TO TO CORRECT ME IF I'M WRONG IS THAT WE HAVE IMPLEMENTED A $10,000 VALUE EXEMPTION WHICH IN ESSENCE MEANS THAT ANY SMALL BUSINESS OWNER THAT OWNS LESS THAN $10,000 WORTH OF PERSONAL PROPERTY DOES NOT NEED TO PAY PERSONAL PROPERTY TAXES.  AND SO THAT IS SOMETHING THAT IS A CLEAR AND DIRECT BENEFIT TO THE BUSINESS AS OPPOSED TO WORKING WITH REAL ESTATE WHERE IT'S A BENEFIT THAT GOES TO THE LANDLORD THAT MAY OR MAY NOT END UP ULTIMATELY BENEFITING THE SMALL BUSINESS OCCUPYING THIS SPACE. CAN YOU GIVE US AN EXAMPLE OF WHAT THIS MEANS I UNDERSTAND IS TO BE SUPPLIES AND REFRIGERATORS AND ALL OF THAT BUT IF YOU CAN CELEBRATE THAT YEAH. SO YEAH, IT IT DEPENDS ON THE BUSINESS TYPE SO YOU KNOW IT CAN BE CHAIRS AND TABLES, IT CAN BE YOU KNOW TELEVISIONS THAT YOU SEE IN A IN A SPORTS BAR OR A RESTAURANT. IT CAN REALLY BE LIKE ALL DIFFERENT ASPECTS OF STUFF THAT IS LIKE MOVABLE THINGS SO LIKE COMPUTERS POINT OF SALE SYSTEMS SO LIKE THAT THE SYSTEMS THAT RESTAURANTS USE TO TALLY UP YOUR BILL AND TO KIND OF SEND INFORMATION BACK TO THE KITCHEN THAT WHOLE COMPUTER SYSTEM THAT'S A THAT'S A PERSONAL PROPERTY SYSTEM THAT'S POTENTIALLY TAXABLE SYSTEMS I KNOW. WELL THANK YOU FOR THAT. OKAY. AND THEN WHAT IS THE PROCESS THE INTAKE, THE ADMINISTRATIVE BURDEN THAT THAT PLACES ON YOU? SO AND THEN ALSO JUST TO BE CLEAR FOR SMALL BUSINESSES RIGHT NOW WE ARE ONLY ALLOWING FOR 10,000 WE'RE CAPPING IT AT $10,000 FOR THEIR EXEMPTION.  YES, THAT THAT'S CORRECT. THAT'S THE STATUTORY MAXIMUM FOR THAT EXEMPTION.  OKAY. AND THEN WHAT IS THAT BURDEN ON YOU ADMINISTRATIVELY TO PROCESS THOSE CLAIMS?  SO EVERY BUSINESS IN THE CITY IS REQUIRED TO SUBMIT SOMETHING CALLED A FORMAL LIST TO US ON AN ANNUAL BASIS TO TELL US WHAT TAXABLE PERSONAL PROPERTY THEY HAVE.  AND SO WHAT HAPPENS IS WE GET THAT MATERIAL AND WE PUT IT INTO A DATABASE TRACKING SYSTEM AND THEN IF THEY HAVE LESS THAN $10,000 WORTH OF TAXABLE STUFF WE DON'T SEND THEM A BILL SO THAT THE IMPLEMENTATION OF THAT IS IS RELATIVELY STRAIGHTFORWARD. OKAY.  THANK YOU. AND ALL OF THIS IS VERY IMPORTANT FOR MY NEXT QUESTION WHICH YOU MAY OR MAY NOT KNOW IS COMING. THIS HAS TO DO WITH THE SMALL BUSINESS EXEMPTION AND WHAT I'M GOING TO DO IS NOW FOR MY COLLEAGUES PUT IN THE CHART A LINK TO THE NGL SECTION SO THIS IS A SMALL BUSINESS EXEMPTION FOR EVERYBODY TO REFERENCE. SO WHY DON'T WE JUST PUT IN THE CHECK AND FOR THOSE LISTENING IN IT'S SECTION 51 EXCUSE ME IT'S SECTION FIVE II EXEMPTION AND CONDITIONS UNDER CHAPTER 59. ALL RIGHT SO OKAY I DON'T KNOW IF I CAN PUT THIS IN THE CHART SO MAYBE I NEED TO JUST SHARE MY SCREEN.  I THINK FOLKS SEE THIS WINDOW HERE.  WE CAN SEE IT, MADAM SPEAKER. OKAY, GREAT. AND WHILE I DO THAT, I JUST WANT TO MAKE SURE THAT I'M DOING THIS RIGHT. SO WAS VERY COMPETING WINDOWS WANT TO MAKE SURE THAT I'M SAYING WHAT I NEED TO SAY.  OKAY, GREAT. SO IF PEOPLE ARE REVIEWING THIS GREAT I NEED TO MAKE SURE THAT I HAVE MY NOTES IN FRONT OF ME AND I'M JUST GOING TO STOP SHARING. JUST ASK THAT JUST BECAUSE I CAN'T RUN ON MY PHONE I'M GOING TO ASK CENTRAL STAFF SHARE THE REFERENCE TO THIS PARTICULAR SECTION. IT'S FIVE I'M SORRY I THINK IN GENERAL SO MY RESPONSIBILITY AS CHAIR IS JUST TO MAKE SURE THAT WE MAXIMIZE THE BENEFITS WHILE DOING MY BEST TO MINIMIZE THE HARM OF ANY POLICY THAT'S GOING THROUGH THE COUNCILOR . AND SO I OFTEN REFERENCE OUR CONGRESSWOMAN TALKING ABOUT MAKING SURE THAT WE'RE NOT PROLIFERATING POLICY HARMS AND IN THE INSTANCE WHERE WE FIND OURSELVES IN A ZERO SUM PLACE WE NEED TO EXHAUST ALL OF OUR OPTIONS AT OUR DISPOSAL TO MINIMIZE THAT HARM. AND WHILE REVENUE IS MY LOVE LANGUAGE, I THINK THAT CAN BE THE NEW TAGLINE FOR THE ASSESSING DEPARTMENT. WE DO FIND OURSELVES THIS ZERO SUM PURGATORY THAT IS THE TAX LEVY AND THERE'S NO WAY THAT WE'RE NOT GOING TO MAXIMIZE THAT. I JUST THINK THAT SETS A BAD PRECEDENT AND SO MY TEAM IN PARTNERSHIP WITH GENERAL STAFF WE WANTED TO REVIEW AND UNDERSTAND WHAT IS ALREADY ON THE BOOKS AT THE STATE LEVEL THAT DOES NOT REQUIRE US TO GET PERMISSION FROM THE LEGISLATURE THINGS THAT WE CAN DO ON OUR OWN WE CAN FILE IT AS AN ORDINANCE NEXT WEEK IF WE WANTED TO. THE QUESTION IS DO WE WANT TO SO AND ALSO WHAT IS THE VIEW OF THE ADMINISTRATION FOR THIS? AND SO WHAT THIS IS IS OUR POTENTIAL THIRD PATHWAY FORWARD. THIS IS POTENTIALLY OUR YES END RATHER THAN EITHER OR WHERE I'VE ALREADY SAID I SUPPORT THE SOFT LANDING FOR RESIDENTS AND SO WHAT HAS COME FROM THIS CONVERSATION IS CLEAR THAT WE NEED TO BE ABLE TO PROVIDE RELIEF FOR SMALL BUSINESS OWNERS THAT ARE NOT A POP SHOPS THAT ARE NAIL SALONS, CONVENIENCE STORES, A BARBER SHOPS, PLACES THAT WILL BENEFIT THE MOST FROM AN EXEMPTION FROM THE SMALL BUSINESS EXEMPTION. AND THE FIRST HEARING I TALKED ABOUT NEEDING TO HAVE A SCALPEL RATHER THAN A HAMMER. MY THOUGHT IS THAT THIS IS THE SCALPEL AND SO THIS IS AGAIN THIS IS ALREADY ON THE BOOKS IS CHAPTER 59. THIS IS A LOCAL OPTION WHICH IS SECTION FIVE II EXPANSION AND CONDITIONS. AND SO WHAT WE DO NOW BASED ON WHAT YOU JUST SAID IN OUR CONVERSATIONS IS THAT WE ALLOW UP TO $10,000 OR A PERSONAL PROPERTY EXEMPTION TO COVER THE COST REFRIGERATORS, TVS AND ANYTHING THAT CAN BE MOVED SO WHAT THIS WOULD DO IF WE DO DECIDE TO OPT INTO THIS IS THAT THE EXEMPTION WOULD ONLY QUALIFY OR THE ONLY FOLKS THAT WOULD BE QUALIFIED FOR THIS ARE PROPERTY OWNERS THAT HAVE COMMERCIAL PROPERTIES IN THIS CLASS THREE ONLY AND MIXED USE COMMERCIAL VALUED AT LESS THAN $1,000,000 AND SO FILTERING OUT EVERYTHING ELSE SO YOU CAN'T HAVE A BUILDING THAT HAS MORE THAN $1,000,000 AND THEN THE EXEMPTION ALSO TALKS ABOUT HAVING NO MORE THAN TEN EMPLOYEES. SO YOU FILTER OUT THAT AGAIN SO THESE ARE OUR VERY SMALLEST OF SMALL MOM AND POP SHOPS IN THE AGGREGATE TOO BECAUSE I KNOW THAT THERE'S AN OPPORTUNITY TO HAVE MULTIPLE DIFFERENT PROPERTIES WHETHER IT'S A BUNCH OF DIFFERENT EMPLOYEES AND SO YOU CAN HAVE MORE THAN TEN EMPLOYEES. THIS WOULD ALLOW FOR A 10% EXEMPTION ON CLASS THREE PROPERTY. AND SO WHAT WE DID IS IS RUN THE NUMBERS AND RIGHT NOW BASED ON THAT CRITERIA WITH VARIATION ,I'M SURE WE NEED TO COORDINATE AND CROSS-REFERENCE THE NUMBERS BUT TOTAL VALUE OF CLASS THREE PROPERTY ASSESSED UNDER $1 MILLION AND THEREFORE 24 IS EQUAL TO ABOUT TWO $2 BILLION. SO CURRENTLY THE CITY COLLECTS FROM THEM $58 MILLION ON THESE PROPERTIES IF THE EXEMPTION IS ADOPTED, IF THIS IF WE DECIDE TO PUSH THIS FORWARD AND PASS THIS IF THE EXEMPTION IS ADOPTED EVERY CLASS OF PROPERTY THAT IS VALUED UNDER MILLION DOLLARS QUALIFIES FOR THIS EXEMPTION.  THE CITY WOULD INSTEAD AT MAX COLLECT 52 MILLION AND CHANGE. THE DIFFERENCE WOULD BE ABOUT $5,000,005.8 MILLION AND THE VALUE OF EXEMPTION GRANTED ON THE SECTION SHALL BE BORNE BY THE COMBINED VALUE OF CLASS THREE COMMERCIAL PROPERTIES AND CLASS FOUR INDUSTRIAL PROPERTIES AND SO MY ARGUMENT HERE IS AND I HOPE IT'S COMPELLING TO MY COLLEAGUES TO BE ABLE TO TALK MORE ABOUT IT IS THAT WE WOULD ESSENTIALLY JUST BE LOSING IN TERMS OF REVENUE $5.8 MILLION WHICH MIGHT BE A DROP IN THE BUCKET FOR US BUT POTENTIALLY A LIFELINE FOR THESE SMALL BUSINESSES. AND SO I'M CURIOUS TO KNOW IF YOU ALL LOOKED INTO THIS WHAT IT WOULD MEAN TO IMPLEMENT IT AND THEN THE BACK END ADMINISTRATIVELY WHAT DOES THAT BURDEN LOOK LIKE AND WHAT SORT OF RAMP UP TIME WOULD YOU NEED TO MAKE THIS A REALITY FOR ME ? RIGHT. JUST MAKE A POINT.  SO WE HAVE OFTEN ON OCCASION FROM TIME TO TIME THE BIGGEST FLAW THAT WE SEE WITH THAT PARTICULAR EXEMPTION IS THAT THERE IS NO WAY FOR US TO SAY THAT THE BENEFIT IS BASED ON YEAH, SAVE THE SPACE. THERE'S NO WAY FOR US TO MAKE SURE THAT THE ACTUAL SAVINGS GOES TO THE OCCUPANT OF THAT SPACE AND THE SAVINGS GOES TO THE TO THE PROPERTY. YOU SO THAT'S THAT IS A BIG PICTURE DIFFERENCE BETWEEN THAT AND THE $10,000 PERSONAL PROPERTY EXEMPTION THAT WE WERE TALKING ABOUT AT THAT SAVINGS GOES DIRECTLY TO THAT BUSINESS OWNER BECAUSE OF THE WAY THAT LEASE WORK AND BECAUSE EVERY LEASE IS DIFFERENT EVEN IF IT'S TRIPLE NET OR GROSS THAT THAT YOU KNOW THERE ARE SOME TERMS THAT DEFINE GENERAL POCKETS OF LEASES BUT EACH LEASE HAS ITS OWN UNIQUE CHARACTERISTICS FOR COMMERCIAL SPACE SO THERE'S NO CLEAR WAY FOR US TO MAKE SURE THAT THAT BENEFIT ACTUALLY ENDS UP GOING TO THAT SMALL BUSINESS OWNER. CAN I RESPOND TO THAT BECAUSE I WOULD LIKE TO RESPOND TO THAT. SO WITH THIS CURRENT PROPOSAL WITH THE PROPERTY TAX, IS THERE ANY GUARANTEE THAT THOSE SAVINGS GO TO THE TENANT THE SAVINGS FOR RENTALS? YEAH. DOES THOSE ALSO GO TO THE PROPERTY OWNER?  THEY GO TO THE PROPERTY OWNER BUT THERE'S NO GUARANTEE THAT THE SAVINGS WILL ACTUALLY TRANSLATE TO THE TENANT YET NO RENTED SPACE. THERE IS NO GUARANTEE THAT THEIR SAVINGS WOULD TRANSLATE TO THE TENANT BUT WE'RE ALSO TALKING ABOUT IS IT'S A LITTLE BIT DIFFERENT BECAUSE WHAT WE'RE TALKING ABOUT THEIR CURRENT PROPOSAL IS NOT INCREASING THEIR COSTS AS DRAMATICALLY AND SO THE RESIDENTIAL PROPERTIES AREN'T GOING TO HAVE SAVINGS I LIKE THE LAW IS DESIGNED SO THAT THEY THE OVERALL RESIDENTIAL CLASS OF PROPERTY IS GOING TO BE RESPONSIBLE FOR THE SAME LEVEL OF THE LEVY IF NOT MORE. AND SO WHEN WE WHEN WE'RE TALKING ABOUT SAVINGS WE'RE REALLY TALKING ABOUT LIKE SAVINGS VERSUS AN ALTERNATE REALITY WHERE IT DOESN'T GET PAST. BUT THE REALITY IS WHEN YOU KNOW IN THE PROJECTIONS THAT THE BUS BORNE THREE AUSTIN MUNICIPAL RESEARCH BUREAU WAS BASING THEIR REPORT OF IS THEY'RE TALKING ABOUT RESIDENTIAL PROPERTY CLASS OVERALL GOING UP 5% AND SO WITH THAT COMES OVERALL TAX INCREASES FOR THAT CLASS WHETHER THIS LAW IS IMPLEMENTED OR NOT OR THIS PROPOSED CHANGE . SO THAT'S THAT WOULD BE MY MY RESPONSE TO THAT ONE ABOUT SAVINGS AND I KNOW YOU HAD MORE QUESTIONS ABOUT LIKE THE CHALLENGES OF IMPLEMENTING AND KIND OF LIKE SO BIG PICTURE WE'RE CONCERNED THAT IT WON'T DIRECTLY IMPACT BUSINESS.  THAT DOES NOT MEAN THAT IT'S NOT WORTH LOOKING AT AND YOU'RE 100% CORRECT THAT THAT IS A LAW THAT CURRENTLY EXISTS ON THE BOOKS THAT.  YOU KNOW, IF WE WANT TO OPT INTO WE COULD OPT INTO AND IT WOULD BASICALLY BE A SIMILAR PROCESS TO THE RESIDENTIAL EXEMPTION AND RATE SETTING IN GENERAL WHICH EVERY YEAR THE ADMINISTRATION AND THE COUNCIL DECIDE TOGETHER AT WHAT LEVELS THOSE THINGS SHOULD BE SET. SO THE RESIDENTIAL EXEMPTION EVEN THOUGH IT'S CURRENTLY IN EXISTENCE IN FISCAL YEAR 25 UNLESS WE COLLECTIVELY AGREE TO HAVE IT AT 35% THERE WON'T BE ONE AND SO THAT THE COMMERCIAL EXEMPTION THE SMALL COMMERCIAL EXEMPTION WOULD WORK IN THE SAME MANNER WHEREVER HERE IT WOULD HAVE TO BE DECIDED UPON IN TERMS OF KIND OF THE CHALLENGES AND THE TIMELINE AND THEN FIGURING OUT HOW THAT WORKS. IT REALLY DEPENDS ON AND WHETHER IT'S SOMETHING THAT WE ARE GOING TO SHOULDER THAT COST OR WHETHER IT'S SOMETHING THAT IF IMPLEMENTED WOULD BE BUILT INTO THE TAX RATE. SO THE STATUTE ALLOWS FOR IT TO BE BUILT INTO THE TAX RATE BUT THE STATUTE ALSO ALLOWS FOR PEOPLE TO APPLY FOR THE EXEMPTION AFTER THE TAX RATE IS SET IF THEY DON'T GET IT. SO BASICALLY WHAT THAT MEANS IS TO THE EXTENT THAT WE ARE ABLE TO IDENTIFY PROPERTIES THAT QUALIFY BEFORE THE TAX RATE SETTING PROCESS, THOSE EXEMPTION LEVELS COULD GET BUILT INTO THE COMMERCIAL TAX RATE WHICH BASICALLY MEANS THAT THE COMMERCIAL TAX RATE WOULD WOULD GO UP AS A RESULT OF THOSE EXEMPTIONS SO THE STATE WOULD COLLECT THE SAME AMOUNT OF REVENUE FOR ANYONE THAT AGAIN IF PAST QUALIFIES FOR THE SMALL COMMERCIAL EXEMPTION THAT DOESN'T GET APPROVED BEFORE THE TAX RATE GETS SET, THEN THAT ENDS UP BEING PAID OUT OF MY OVERLAY ACCOUNT. IT'S BASICALLY THE MONEY THAT'S SET ASIDE TO DEAL WITH CHALLENGES TO PROPERTY VALUE THAT GETS BUDGETED EVERY YEAR AND SO THAT IS NOT SOMETHING THAT WE'VE KIND OF BUDGETED AN INCREASE FOR BECAUSE OF THIS PARTICULAR LAW. IF YOU WERE TO OPT INTO IT. AND SO MY RECOMMENDATION WOULD BE THAT IF THIS IS SOMETHING WE WANT TO SERIOUSLY CONSIDER THAT WE INVESTIGATE THOSE COSTS, INVESTIGATE KIND OF WHETHER THAT IS SOMETHING THAT FITS WITHIN THE BUDGET FOR THIS YEAR THAT'S ALREADY BEEN PUT BEFORE THE COUNCIL OR WHETHER THAT'S SOMETHING THAT WE'D BE INVESTIGATING FOR FISCAL YEAR 26 AND THEN COULD BUILD THAT INTO FISCAL YEAR 26 IS VALUE SOME OF THE CHALLENGES IN DOING THE RESEARCH BEHIND THE LAW ARE FOR THESE PROPERTIES ALL OUTLYING COMMUNITIES. WHEN YOU HAVE A COMMERCIAL SPACE WITH A SMALL BUSINESS IN IT AT A LOWER VALUE THEY'RE THE ONLY BUSINESS IN THAT SPACE.  A LOT OF BOSTON PROPERTIES YOU KNOW YOU MENTIONED MIXED USE.  IT'S NOT JUST LIKE ONE BUSINESS THAT'S OCCUPYING LIKE A STANDALONE BUILDING. IT'S A FEW BUSINESSES THAT ARE IN THERE OR THERE'S BUSINESSES AND RESIDENCES AND BECAUSE OF THAT IN ORDER TO QUALIFY FOR THIS EXEMPTION IT'S EVERY SMALL BUSINESS WITHIN THAT PROPERTY HAS TO MEET THESE REQUIREMENTS OF UNDER TEN EMPLOYEES AND SO THAT IS NOT DATA THAT WE KEEP IN TERMS OF SPECIFIC OCCUPANTS OF SPACE AND THE WAY WE IDENTIFY SPACE IS BASICALLY HOW MANY SQUARE FEET AND THE AMOUNT OF RENT IT CAN GENERATE. IT'S NOT TIED TO A PARTICULAR TENANT.  WE DON'T TRACK INDIVIDUAL LEASES. WE CAN GET SOME INFORMATION FROM THE STATE IN TERMS OF A LARGE NUMBER OF BUSINESSES THAT MIGHT POTENTIALLY QUALIFY FOR THIS IF THEY'RE IN A PROPERTY THAT'S VALUED AT THE RIGHT LEVEL.  AND SO FOR EXAMPLE THAT'S CONFIDENTIAL INFORMATION THAT THE STATE PROVIDES TO THE CITY EVERY YEAR.  LAST YEAR THEY GAVE US A LIST OF 20,000 BUSINESSES. I KNOW I KNOW THERE AREN'T 20,000 SMALL PROPERTIES THAT ARE UNDER $1,000,000 IN THE CITY THAT ARE COMMERCIAL BUT THE LIST OF BUSINESSES THAT WE'RE KIND OF TRYING TO IDENTIFY AND CONNECT TO THE SPACES IS 20,000 AND I TOOK A QUICK LOOK AT THIS THE OTHER DAY THE BROADLY SPEAKING POTENTIAL NUMBER OF PROPERTIES THAT MEET THIS UNDER $1 MILLION COMMERCIAL VALUE COMPONENT IF YOU INCLUDE MIXED USE RESIDENTIAL COMMERCIAL PROPERTIES THIS IS AROUND 7000 AND SO IT'S BASICALLY CROSS-REFERENCING THE 20,000 TO THE 7000. THERE ARE ALSO SOME BUSINESSES THAT SOLE PROPRIETOR SHIPS THAT THE STATE DOESN'T PROVIDE US INFORMATION ON THAT WE HAVE TO GET DIRECT ROUTES AND BUSINESS ITSELF. SO THERE'S THERE'S STUFF WE'D NEED TO FIGURE OUT IF WE WERE GOING TO KIND OF ADMINISTER IT . IT'S NOT THAT IT'S AN IMPOSSIBLE TASK BUT IT IS ONE THAT WE WOULD WANT TO DO THOUGHTFULLY TO MAKE SURE THAT EVERYONE IF IF IMPLEMENTED IS GETTING THE BENEFITS THAT THEY WOULD THEN DESERVE BECAUSE IT WOULD BE A BENEFIT THAT WE'RE PROVIDING.  RIGHT. AND ALL OF THAT MAKES SENSE TO ME AND I DO I UNDERSTAND THE LIMITATIONS AND THE CHALLENGES TO IMPLEMENTING THIS IN 25. OKAY.  BECAUSE OF THAT AND BECAUSE OF THE CROSS-REFERENCING AND I ACTUALLY THINK THAT'S A LITTLE BIT SAVVY AND BETTER THAN JUST GOING AT THE MILLION DOLLAR VALUATIONS WHERE WE FILTER OUT THE 20000 TO 7000 BUSINESSES WE FIGURE OUT WHO IS EXISTING AND OCCUPYING A VALUATION, A BUILDING THAT HAS A VALUATION OF $100 MILLION AND THEN USING WORKER'S COMP INFORMATION OR WHATEVER IT IS TO FIGURE OUT WHO HAS TEN EMPLOYEES OR LESS. I KNOW THAT THAT REQUIRES WORK BUT IT IS SOMETHING THAT I WOULD LIKE TO CONSIDER AND PURSUE GIVEN THAT ESPECIALLY GIVEN THE FACT THAT WE DON'T HAVE TO ASK FOR PERMISSION FROM THE STATE TO DO THIS WE CAN CHOOSE OPT IN. AND SO MY I GUESS MY QUESTION TO YOU ALL IS LIKE WHAT IS THE APPETITE TO IMPLEMENTING THIS IN FY 26?  I MEAN I, I THINK IT'S WORTH TALKING THROUGH MORE MAINLY BECAUSE I THOUGHT ABOUT IT A VERY SMALL AMOUNT BUT I HAVEN'T REALLY KIND OF TALKED IT THROUGH WITH THE ADMINISTRATION KIND OF THOUGHT THROUGH ALL THE PLUSES AND MINUSES AND I AM A LITTLE CONCERNED THAT LIKE DEPENDING ON THE COST AND KIND OF LIKE HOW THAT PLAYS OUT AND WHAT WE PROJECT THAT TO BE THERE MIGHT BE A BETTER USE OF THOSE FUNDS LIKE MAYBE A GRANT THAT WE KNOW WILL DIRECTLY HELP A SMALL BUSINESS. AND SO I JUST WANT TO MAKE SURE THAT WE'RE WEIGHING ALL THE ALTERNATIVE BUT LIKE I'LL SAY AT THIS POINT THIS IS JUST A LITTLE BIT ME BRAINSTORMING SO I CAN'T REALLY GIVE YOU A BETTER ANSWER THAN THAT. OKAY, WELL WE'LL THANK YOU FOR YOUR RESPONSE AND YOU KNOW, I DO THINK THAT IT'S CLEAR THAT THERE'S AN URGENCY TO ASSIST ASSIST RESIDENTS AND TENANTS AND THAT I UNDERSTAND I JUST I SEE THIS AS A WAY FOR FOR US TO EXEMPLIFY AND DEMONSTRATE THAT SAME URGENCY TO OUR SMALL BUSINESSES BECAUSE OF THE FACT THAT THERE HAVE BEEN NEW REPORTS THAT HAVE COME OUT THAT SAID THAT NO MATTER IF YOU HAVE A GROSS OR TRIPLE NET LEASE THAT WAS ONE OF THE FIRST THINGS I BROUGHT UP IN MY QUESTIONING IN THE FIRST HEARING. BUT NO MATTER WHAT YOUR LEASE STRUCTURE IS, THERE IS A REAL POSSIBILITY THAT THESE SMALLER BUSINESSES WILL SHOULDER THIS COST AND SHOULDER THIS INCREASE AND THE VERY LEAST WE CAN DO AGAIN GOING BACK TO WHAT I SAID EARLIER IS LIMIT THE POLICY HARMS AND EXPLORE AND EXHAUST ALL OF OUR OPTIONS. I'M INTERESTED IN PRODUCING SOMETHING THAT THE COUNCIL CAN OPT INTO AND JUST DEMONSTRATING TO OUR SMALL BUSINESSES THAT WE ARE THINKING OF THEM AND WE'RE DOING EVERYTHING WE CAN TO LIMIT THE NEGATIVE IMPACTS TO THEIR BUSINESS OPERATIONS.  OKAY ALL THAT'S IT FOR ME . I HAVE BEEN MADE AWARE FROM THE OF WAYS AND MEANS THAT THEY'RE POSTPONING A HEARING AND SO WHILE I THOUGHT I WAS GOING TO BE DOING ANOTHER ROUND I BUT I ALSO WANT TO BE FAIR TO MY COLLEAGUES TOO WHERE IF YOU HAVE ADDITIONAL QUESTIONS PLEASE SEND THEM IN TO ME AND WE WILL GET THEM TO THE ADMINISTRATION AND I JUST WANT TO BE FAIR TO THE WAYS AND MEANS CHAIR AND HIS PREVIOUSLY SCHEDULED COMMITMENT AND THEN ALSO CENTRAL STAFF NEEDS TO EAT SOMETHING SO WE ARE NOT GOING TO BE DOING ANOTHER ROUND.  I APOLOGIZE I KNOW THAT I SAID THAT THE COUNCILOR WORRELL CHAIR OF WAYS AND MEANS IS RAISE HIS HAND AND THEN HE PUT IT DOWN AS WELL. DID YOU WANT TO SAY ANYTHING? OH NO I WOULD JUST SAYING THAT WE WE HAVE PUSHED IT OUT UNTIL I BELIEVE TO BE 3 P.M. IN IN IT THINKING THAT THERE GOING TO BE A SECOND ROUND OF QUESTIONS SO HOPEFULLY THE UP TO YOU CHAIR WE SAW WHO WAS IN THE ROOM AND GAVE EVERYONE 5 MINUTES TO DO A SECOND ROUND BUT COMPLETELY UP TO A DISCUSSION AS YOU THANK YOU. THANK YOU. AND I DO SEE THAT FOLKS HAVE DROPPED OFF I THINK AT THIS POINT IF FOLKS DO HAVE SOME MORE QUESTIONS, RAISE YOUR HAND AND AND THEN WE'LL DO THREE MINUTE SNACKS FOR THAT. THANK YOU. AND THEN WE'LL GO SO COUNCILOR MEJIA COMES ROLL HAS HIS UP AND THEN FROM THERE WILL WE'LL CALL ON FOLKS AS THEY HAVE QUESTIONS COME IN HERE. YES. THANK YOU.  I DID HAVE A QUESTION FOR OUR ATTORNEY SWIFT IS STILL HERE.  I'M HERE. OKAY, GREAT. I AM CURIOUS BECAUSE THIS IS WHERE FOR ME DATA AND NUMBERS EVERYONE COULD UTILIZE NUMBERS TO THEIR BENEFIT AND I HAVE SEEN THIS IN A NUMBER OF DIFFERENT SPACES BUT.  YOU DID ASK AND YOU PUSHED BACK AND I KNOW THAT YOU GUYS DO YOUR SONG AND DANCE EVERY YEAR AROUND THIS BUT I JUST NEED TO MAKE SURE THAT I HAVE A CLEAR UNDERSTANDING OF , YOU KNOW,  GIVING YOU THE OPPORTUNITY TO HELP ME UNDERSTAND YOUR INTERPRETATION OF THOSE DOLLARS . CAN YOU WHAT IS YOUR INTO ROTATION?  YEAH AND I ACTUALLY THINK YOU COUNCILOR I APPRECIATE THE FOLLOW UP ON THIS AND I JUST SENT COMMISSIONER ARE NOW AN EMAIL ON IT SO THE AVERAGE SINGLE FAMILY ASSESSMENT BY THE DEO ARE AND BY THE CITY'S OWN ASSESSMENTS IS $563,000 560 344 NOT THERE'S A RESIDENTIAL EXEMPTION THE FIRST 331,000 IS EXEMPTED THAT WE'VE REMAINING 232,000 AT A TAX RATE OF 1090 THAT'S 2500 IN TAXES.  IF I'M OFF I'M SURE I'LL HEAR FROM COMMISSIONER ON THIS AGAIN . I'M JUST PULLING IT OBJECTIVELY FROM THE DATA FROM THE ASSESSED VALUES AS REPORTED BY THE CITY IN THE YOU ARE BUT THANK YOU ATTORNEY SWIFT NICK I'M LOOKING AT YOU I DON'T KNOW IF YOU COULD SEE ME RIGHT HERE SO I THINK AND WHILE I YOU KNOW BECAUSE THIS IS A PUBLIC HEARING AND I DO APPRECIATE THE ATTORNEY SENDING YOU AN EMAIL SO THAT YOU HAVE THE INFORMATION I THINK THAT IN THE SPIRIT OF JUST MAKING SURE THAT EVERYBODY'S WORKING WITH THE SAME NUMBERS AND THE SAME DATA AND THAT WE'RE ALL ON THE SAME PAGE HERE HAVING READ THE EMAIL THAT THE ATTORNEY JUST SENT YOU IN TERMS OF HIS INTERPRETATION OF THE NUMBERS, CAN YOU GIVE ME YOUR REBUTTAL PLEASE?  YEAH, NO, I APPRECIATE THE QUESTION COUNSELOR.  I'LL SAY I'D HAVE TO GO BACK AND LOOK AT THE THE DOJ DATA TO SEE WHAT'S GOING ON THERE AND WHY WE HAVE THAT DIFFERENTIAL.  IT'S IT'S EASY ENOUGH FOR ME TO CHECK.  I JUST DON'T WANT TO DO IT IN THE TAIL END OF A FOUR HOUR HEARING AND PUT IN THE WRONG NUMBER WHILE I'M DOING THE MATH . OKAY SO I'M GOING TO GO TO MY LOGS.  ALL RIGHT. SO YOU ARE AN INDEPENDENT THIRD PARTY HERE YOU PROBABLY RULING. SO WHAT'S YOUR INTERPRETATION OF ALL OF THIS?  BECAUSE I JUST THINK IT'S IMPORTANT FOR PEOPLE WHO ARE FOLLOWING THIS IS THAT NUMBERS DO MATTER. RIGHT. AND THEY IMPACT THE BOTTOM LINE. AND SO I'M JUST CURIOUS WHAT WHAT DO YOU KNOW NOW I DON'T HAVE THE NUMBERS IN FRONT OF ME BUT DURING THE BACK AND FORTH BETWEEN THE TWO OF THEM I WAS GOING TO INTERVENE AND SAY IF YOU NEED A NEUTRAL ARBITER ON THE NUMBERS HAPPY TO STEP IN. I DON'T HAVE THAT DATA IN FRONT OF ME BUT HAPPY TO CONTINUE TO BE INVOLVED AS WE SORT THIS OUT THE NUMBERS ARE GOING TO BE THE NUMBERS WE HAVE TO COME TO AN AGREEMENT OF WHY WE'RE WHY THEY'RE IN DISAGREEMENT THE CAUSE OF IT AND THEN WE CAN HAVE REALLY GOOD DATA TO GO FORWARD. ALL RIGHT. THANK YOU. I APPRECIATE THAT. MEDIATOR I GAVE YOU THE OPPORTUNITY TO DO THAT. I JUST THINK THAT, YOU KNOW, THIS IS A YOU MIGHT NOT THINK THIS IS A BIG DEAL. IT PROBABLY FOR SOME PEOPLE IT YOU KNOW AND I'M LOOKING AT BOTH PROPERTY OWNERS AND I'M ALSO LOOKING AT BUSINESS OWNERS FOR ME I'M TRYING TO REALLY LOOK AT ALL SIDES. RIGHT. AND I AM REALLY ENCOURAGED BY OUR ABILITY TO TRY TO FIND A THIRD WAY FORWARD. I REALLY DON'T THINK THAT WE SHOULD BE PUTTING ANYONE AT RISK BECAUSE ALL OF THOSE THINGS HAVE A MULTIPLE IMPACT ON EVERYONE. SO IT'S KIND OF LIKE THAT. I KNOW THAT YOU KNOW, WE ARE STILL YOU KNOW, WE'RE GOING TO BE MOVING INTO ANOTHER WORKING SESSION AND ALL THAT GOOD STUFF BUT I STILL THINK THAT I WANT TO MAKE AN INFORMED DECISION AND I REALLY WANT TO MAKE SURE THAT WE ARE BEING AS CREATIVE AS POSSIBLE HERE. SO AND I WOULD LIKE TO GET ON FOR THE RECORD. SO COLETTA, WHEN NICK FIGURES OUT THE NUMBERS AND THE BOTTOM LINE I WILL I WANT THAT IN WRITING AND I WANT THAT TO BE MADE PART OF THE RECORD BECAUSE I THINK THAT THAT'S WHAT TRANSPARENCY IS CALLING FOR AND THANK YOU ATTORNEY SWIFT FOR SWIFTLY BRINGING THAT TO THE FLOOR HERE.  I APPRECIATE IT. THANK YOU, COUNCILMAN . YOU WILL BE SURE TO HAVE SOMETHING ON THIS THAT WILL GET LOOK AT THOSE NUMBERS LIKE DID YOU WANT TO RESPOND?  IS THAT WHY HAVE YOU HAD TO? YEAH, NO, I'M HAPPY TO TO VERIFY IT AND ITS FINAL NUMBERS AS WELL AS THE SOURCES.  I TOOK A QUICK LOOK. I'M FAIRLY CERTAIN THAT THE REASON THAT ATTORNEY SWIFT'S NUMBERS IN MINE DIFFER IS THAT HIS IS UNINTENTIONALLY IN DOUBLE COUNTING THE RESIDENTIAL EXEMPTION NOT BECAUSE OF THE WAY THAT HE DID THE MATH BUT BECAUSE OF THE WAY THE STATE PUTS THE DATA ON THE TABLE THAT HE REFERRED TO SO THAT THE MATH IN THE TABLE HERE LIKE THE MATH HE DID MAKES SENSE BASED ON THE TABLE THAT HE LOOKED AT. I BELIEVE THAT ON THAT TABLE THE DEPARTMENT OF REVENUE HAD ALREADY TAKEN OUT A BIG CHUNK FOR THE RESIDENTIAL EXEMPTION. BUT AGAIN, IT IS VERY, VERY EASY AS REPRESENTING SMALL SAYS THE NUMBERS OF THE NUMBERS IT'S VERY SIMPLE TO DO THE EXERCISE AND IF WE ARE WRONG AND MY NUMBERS ARE WRONG I AM MORE THAN HAPPY TO CORRECT THEM BECAUSE I VERY VERY MUCH AGREE THAT THE NUMBERS MATTER.  THANK YOU, NIC. I APPRECIATE THAT AND THANK YOU, COUNSELOR COLETTA FOR SUPPORT FOR ALLOWING ME A FEW EXTRA MINUTES THERE. THANK YOU. FROM COUNCILOR WARREN AND COUNCILOR FLYNN.  THANK YOU, CHAIR. AND THANK YOU TO EVERYONE FOR STICKING AROUND. THIS IS JUST ME TRYING TO GET CLARIFICATION ON THIS THAT LIKE THE LEVY CONVERSATION ON PAGE FIVE OF THE DIVISION OF LOCAL SERVICES AROUND PROP 2.5 ESTATES ALLEGEDLY FOR EACH COMMUNITY IS CALCULATED ANNUALLY BY THE DEPARTMENT OF REVENUE.  IT IS IMPORTANT TO NOTE THAT A COMMUNITY LEVY LIMIT IS BASED ON THE PREVIOUS YEAR'S LEVY LIMIT AND NOT ON THE PREVIOUS YEAR'S ACTUAL LEVY.  JUST WANTED TO GET CLARIFICATION IT IS BASED ON WHAT WE COULD HAVE COLLECTED, NOT WHAT WE ACTUALLY COLLECTED. CORRECT. THAT'S CORRECT AND THAT'S WHY WE WERE TALKING EARLIER ABOUT IF YOU FOREGO A PORTION OF THAT LEVY LIMIT IN ONE YEAR YOU COULD THEORETICALLY MAKE THAT UP IN THE FUTURE YEAR.  BUT THE PRACTICALITY IS THAT YOU WOULD BE SORT OF , YOU KNOW, INCREASING THAT WHEN THEY OTHERWISE WOULD HAVE TO MAKE UP FOR THE THE PRIOR YEAR THE AMOUNT YOU FOREGONE IN A PRIOR YEAR. YEAH.  JUST ONE CLARIFICATION ON THAT AND THEN ALSO FOR ME I WOULD LOVE AS I STATED BEFORE AND I KNOW COMMISSIONER ANELLO YOU SAID YOU'RE NOT SPENDING RESOURCES ON PROJECTIONS BUT I DO BELIEVE PROJECTIONS WILL HELP US OUT IN THIS CONVERSATION TO KIND OF UNDERSTAND THE FULL IMPACT OF WHAT IS WHAT IS TAX CUTS APPLICATION AND SHIP COULD POTENTIALLY HAVE ON WHETHER IT'S COMMERCIAL PROPERTY OWNERS OR RESIDENTIAL PROPERTY OWNERS. AND I KNOW THERE'S A LOT OF FORMULAS OUT THERE THAT DO THESE PROJECTIONS AND IF YOU NEED YOU KNOW, INTRODUCE ACTION TO A FEW PEOPLE WITHIN THESE FINANCE RATES THAT WORK INTO THESE ACCOUNTING DEPARTMENTS HAPPY TO WORK ALONGSIDE YOU TO, YOU KNOW, DRIVE SOME OF THESE PROJECTIONS.  BUT I THINK THAT'S THAT WOULD BE HELPFUL FOR ME AT LEAST AND ALSO I THINK IT WILL BE HELPFUL FOR THE COMMUNITY MEMBERS THE COMMUNITY MEMBERS ARE COMING HERE SAYING, YOU KNOW, IF YOU KEEP IT AFFORDABLE, KEEP IT AFFORDABLE BUT JUST GIVING THEM A CLEAR UNDERSTANDING OF WHAT THAT MEANS IN SEVEN YEARS SIX YEARS I THINK IS VERY IMPORTANT. SO THANK YOU CHAIR A LETTER AS A PARTNER I'M LOOKING FORWARD TO THE WORK IN STATUTE. WOULD THERE BE A WORK IN SESSION OR WHAT'S THE NEXT STEPS CHAIR OR DEPENDING ON THE CHAIRMAN WAYS AND MEANS AND THE SCHEDULE AND WHAT HOLDS ARE NOT GOING TO BE HOLDS SO WE'LL TALK THROUGH THAT. OKAY.  AND IF THE IDEA IS TO VOTE ON THIS ON NEXT MEETING OR SO THE CONSIDERATE I'M THINKING THROUGH RIGHT NOW IS THAT WHAT I HAVE BEEN TOLD AND VERIFIED BY VARIOUS FOLKS IN THE STATE HOUSE IS THAT THE WINDOW OF TIME THAT WE DO HAVE BEFORE INFORMAL EXCUSE ME FORMAL SESSION ENDS BETWEEN NOW AND JULY 31ST AND BECAUSE OF THIS A HOLDING PETITION IT MEANS A HEARING OF AT THIS TIME AND THEN IT NEEDS TO GO AS THE VARIOUS STAGES OF REVIEW AND THAT THERE'S TWO MONTHS GRANTED WHEN DID WE GET THIS WE GOT THIS APRIL 1ST AND STARTED REVIEWING IT THE WEEK THAT THE BUDGET WAS DROPPED. SO WE HAD LIMITED TIME ON THIS. SOME FOLKS ARE SAYING THAT WE'RE NOT MOVING FAST ENOUGH.  SOME FOLKS ARE ARGUING THAT WE'RE MOVING TOO FAST SO I'M TRYING TO CONSIDER ALL OF THAT. I DON'T HAVE A FINAL ANSWER FOR YOU BUT I'M I'M INTERESTED IN UNDERSTANDING FROM FOLKS WHO DO WANT A WORKING SESSION WHAT A WORKING SESSION WOULD YIELD FOR THEM AND WHAT THEY WOULD HOPE TO ACHIEVE.  YEAH, AND FOR ME IT WOULD BE THE SCALE THE EXEMPTION THAT YOU SPOKE ABOUT AND I THINK ALSO THE INFORMATION AND HOPEFULLY WE COULD GET SOME PROJECTIONS ON YEAR OVER YEAR ON THE IMPACTS EVEN THOUGH IT'S A PROJECTION AND I DON'T KNOW I KNOW MARTY WALLS HAS DONE PROJECTIONS FOR ONE YEAR BUT I'M NOT SURE THAT'S SOMETHING THAT SHE COULD TAKE ON SO WE CAN HAVE JUST MORE INFORMATION AROUND THIS SUBJECT. THANK YOU. AND ACTUALLY THAT REMINDS ME OF YOUR FIRST QUESTION. I'M NOT SURE IF IT WAS ANSWERED BUT WHAT HAPPENS IN YEAR SIX, SEVEN, EIGHT? DID ANYBODY ANSWER THAT?  I'D BE CURIOUS TO KNOW THAT NOW NOW VERY PRACTICALLY AS IT RELATES TO THIS LEGISLATION IN YEARS SIX, SEVEN, EIGHT I MEAN AGAIN WITHOUT WITH THE ABSENCE OF THE ABILITY TO PREDICT THE FUTURE OF VALUES, EVERYTHING WILL RETURN TO THE CURRENT LIMITS SET IN STATUTE.  THANK YOU. I WILL GO TO COUNCILOR CLINTON AND COUNCILOR MEJIA. THANK YOU, MADAM CHAIR. AND I JUST HAD A QUICK COMMENT AND QUESTION MAYBE FOCUSED TOWARDS THE CHIEF FINANCIAL OFFICER AND SHOW IT TO THE COMMISSIONER AS WELL JUST ON OUR OVERALL PLAN AND STRATEGY SUPPORTING BUSINESSES DURING THIS CRITICAL TIME WE'RE CONSIDERING A POTENTIAL TAX INCREASE.  I PROPOSED AND THE CITY COUNCIL ADOPTED A PROPOSAL ON ESTABLISHING A BLUE RIBBON COMMISSION MADE UP OF BUSINESS LEADERS, LABOR LEADERS, GOVERNMENT OFFICIALS ON HOW TO SUPPORT OUR BUSINESSES DURING THESE CHALLENGING TIMES.  THAT WAS A COUPLE OF MONTHS AGO. IS THIS A SOLUTION THAT WE CAN CONSIDER AND TALK ABOUT AND COME TOGETHER WITH EXPERTS IN VARIOUS FIELDS AND SEE HOW WE CAN SUPPORT BUSINESSES?  I PROPOSED THIS. MY COLLEAGUES PASSED IT ON THE COUNCIL AS A RESOLUTION BUT I THINK IT COULD BE VERY HELPFUL TO THE CITY IN ENSURING THAT WE SUPPORT BUSINESSES DURING THIS CRITICAL TIME. NICK ANY OR ASHLEY ANY ANY COMMENTS OR ANY ANYTHING YOU GUYS MIGHT WANT TO ADD?  THANK YOU COUNCILOR . DEFINITELY APPRECIATE THAT SENTIMENT AND I THINK IT FITS IN WELL WITH WHAT WE WERE TALKING ABOUT EARLIER IN THAT WHAT WE HAVE YOU KNOW WHAT WE'RE TALKING ABOUT TODAY IS ONE NARROW SOLUTION FOR ONE VERY NARROW PARTICULAR PROBLEM AND WE RECOGNIZE AND FULLY UNDERSTAND THAT IT IS NOT INTENDED TO SOLVE THE LARGER THIS LARGER MOMENT OF ECONOMIC TRANSITION. SO I THINK, YOU KNOW, OPTIONS LIKE WHAT YOU HAVE JUST LAID OUT AND PROPOSED ARE CERTAINLY THINGS THAT IF THE CITY IS NOT ALREADY ENGAGED IN THOSE CONVERSATIONS WITH BUSINESS LEADERS I KNOW MY COLLEAGUES THROUGHOUT THE CITY WHO WHO WORK WITH BUSINESS LEADERS MORE REGULARLY THAN I DO ARE IN CONSTANT COMMUNICATION WITH THOSE FOLKS ABOUT HOW WE CAN AS A CITY BE SUPPORTING THEM. SO TO THE EXTENT THAT WE CAN LEVERAGE THOSE CONVERSATIONS AND JUST AGAIN, YOU KNOW, REALLY THINK ABOUT WHAT ARE THE OTHER TOOLS WE AS A CITY CAN LEVERAGE TO SUPPORT BUSINESSES DURING THIS TIME OF ECONOMIC TRANSITION NOT NECESSARILY JUST RELATED TO THIS ONE PARTICULAR ISSUE. THANK YOU. THANK YOU, CHIEF. AND MAYBE JUST A QUICK FOLLOW UP.  I KNOW I WON'T TAKE ANY MORE TIME BUT ON THIS ON THIS PROPOSAL FROM FROM THE MAYOR'S OFFICE WAS THE BUSINESS COMMUNITY ENGAGED IN A CONVERSATION ABOUT WHAT THIS WOULD LOOK LIKE, WHAT THIS PLAN WOULD LOOK LIKE AND WAS THEIR VOICE HEARD DURING THE DEBATE PRIOR TO THE FILING OF THIS.  THANK YOU. YES. SO WE MY OFFICE AND OTHERS, YOU KNOW, DID NOT CREATE THIS IN A VACUUM. WE LOOKED TO THE PAST. WE LOOKED TO PRECEDENT. WE HAD CONVERSATIONS WITH DIFFERENT PEOPLE IN THE CITY BUSINESSES, RESIDENTIAL INTERESTS, YOU KNOW, A WIDE SWATH OF INDIVIDUALS TO TO TALK ABOUT YOU KNOW, GENERALLY WHAT'S HAPPENING OUT THERE AND AND SOCIALIZE SOME OF THE THINGS THAT WE WERE THINKING ABOUT. SO YES, THERE WERE CONVERSATIONS THAT WERE HAD IN ADVANCE. THANK YOU.  THANK YOU, MADAM CHAIR. THANK YOU. COUNCILOR FLYNN, COUNCILMEMBER HERE.  THANK YOU. AND TRUST ME THAT I'M NOT HOLDING YOU HOSTAGE JUST FOR THE SAKE OF HOLDING YOU GUYS THAT JUST WANT TO NOTE THAT FOR THE RECORD I JUST THINK THAT YOU KNOW, THESE DECISIONS EVEN THOUGH YOU MAY NOT THINK IT'S A BIG DEAL IT IS BECAUSE I'M TRYING TO BE REALLY THOUGHTFUL. AND SO MY AND THIS IS MORE FOR THE CHAIR IN TERMS OF TIMELINE IN HERE I THINK THAT THERE'S STILL A FEW QUESTIONS THAT HAVE REMAINED UNANSWERED. SO I THINK I COULD BENEFIT FROM A WORKING SESSION WITH SOME UPDATED NUMBERS, YOU KNOW, SOME BOTTOM LINES AND LOOKING AT ALL THE DIFFERENT PROPOSALS AT PLAY AND IT WOULD BE HELPFUL TO ME IF LOOK WHO WHO DO YOU HAVE YOU GUYS IDENTIFIED SOMEBODY ALREADY ON THE STATE THAT'S GOING TO BE YOUR SPONSOR FOR THIS COMPETITION ACTUALLY HAVE YOU GUYS SECURED YOUR SPONSORS ? I WISH MY COLLEAGUES AND I WE'RE HERE TO HELP SPEAK TO THAT POINT.  BUT I CAN ASSURE YOU THAT THERE HAVE BEEN MANY CONVERSATIONS I HAD WITH THE BOSTON DELEGATION ON THIS PARTICULAR ISSUE. SO WE'RE IN CLOSE COMMUNICATION AND WITH THOSE MEMBERS UP AT THE STATE HOUSE. OKAY. SO YEAH, I'M JUST YOU KNOW, JUST BE HELPFUL TO KNOW THE THE LIFELINE FOR THOSE RIGHT AND WHO'S GOING TO BE OUT THERE LAYING THE GROUNDWORK SO COUNCIL TO JUST TIME ALIGNING AGAIN I THINK I COULD BENEFIT AND I WOULD LOVE TO SEE IT AT THE WORKING SESSION MAYBE SOMEBODY FROM THE STATE HOUSE THAT CAN COME IN AND AND PROVIDE SOME SOME INSIGHT TO HELP SUPPORT US IN OUR DECISION MAKING PROCESS FOR THEM. YEAH, THANK YOU FOR THOSE SUGGESTIONS. I ACTUALLY WANTED TO CALL ATTENTION TO THE SO THE RFI THAT WE PRODUCED ABOUT JUST HEARING WHERE WE SOLICITED QUESTIONS FROM FOLKS WE SENT IT OVER TO THE ADMINISTRATION, THEY SENT IT BACK. IT SHOULD BE IN EVERY IN THE FOLDER BUT I DID ASK WHO THESE TWO ANSWERS WERE AND THE FORMAL RESPONSE WAS THAT THEY DON'T HAVE ANYBODY YET.  I THINK THERE'S A LOT OF OUTSTANDING VARIABLES IN TERMS OF LIKE OUR SCHEDULE BETWEEN NOW AND WEDNESDAY AND EVEN AFTER THAT WITH THE BUDGET AND ALL OF THAT. SO I THINK I'M GOING TO HAVE TO CIRCLE BACK WITH THE CHAIR AND FIGURE OUT WHAT THAT LOOKS LIKE . I MEAN I'M NOT AGAINST IT. I THINK I STILL HAVE OUTSTANDING QUESTIONS WITH MY SMALL BUSINESS EXEMPTION PROPOSAL AND WHAT THAT MIGHT LOOK LIKE AND HOW IT LINES UP OR DOESN'T LINE UP WITH WHAT THEY'VE PRODUCED.  THERE WAS ONE OTHER POINT THAT I WANT TO MAKE IN ALL OF THIS I AM COGNIZANT THOUGH THAT WE DO HAVE A BUDGET AND SO I WANT TO BE VERY SPECIFIC ABOUT WHAT FOLKS WANT TO KNOW AT THIS WORKING SESSION AND WHAT A WORKING SESSION WILL YIELD FOR THEM AND HOW IT WILL IMPACT THEIR DECISIONS. SOMETHING TO THINK ABOUT.  I'M IN FAVOR OF DELAYING FOR DELAYING PURPOSES AND I THINK THAT'S NOT I'M NOT SAYING THAT ANYBODY'S DOING THAT BUT WE ARE IN A VERY REAL TIMELINE WITH THE STATE HOUSE AND FROM WHAT I'VE BEEN TOLD IS THAT IT IS A VERY REAL THING TO SUBMIT SOMETHING SO CLOSE TO THE DEADLINE. I THINK THAT WE CAN ALSO SEE WHAT'S HAPPENING NOW WHERE THE HOME PETITION THAT WE SEND OUT FOR LIQUOR LICENSES THANK YOU TO COUNCILOR . WE'RE ALL AND HIS BROTHER IS NOW BEING PUSHED FORWARD. THERE WAS ANOTHER BILL THAT WE PUSHED OFF THE BPA ON PETITION THAT WAS SENT UP LAST YEAR AND WE'RE JUST GETTING TALKED ABOUT RIGHT NOW THAT THIS IS THE TIME TO GET THIS UP THERE. SO I JUST WANT TO PUT THAT OUT THERE. BUT YES, IF FOLKS HAVE MOMENTS CONCERNS THAT THEY WANT TO KNOW WHAT THEY'RE WORKING SESSION, PLEASE SEND THEM OVER TO ME AND WE'LL GET IT TO THE ADMINISTRATION FOR THEIR RESPONSE. COUNCILOR WORRELL, YOU HAVE YOUR HAND UP. GET FLAHERTY ON HOW THIS STATEHOUSE WORKS. CAN THIS BE PASSED? I KNOW THEY HAVE FORMAL AND INFORMAL SESSIONS IN THIS.  IT PASSED IN A INFORMAL SESSION . IT COULD BE PASSED IN A FORMAL SESSION. MY UNDERSTANDING IS THAT IF THERE'S ONE PERSON THAT OBJECTS OR TRIES TO BLOCK IT, IT COULD BE PUSHED. IT COULD BE PUSHED BACK. THE GOAL WOULD BE TO GET IT IN THROUGH FORMAL SESSION.  I'M NOT SAYING THAT THAT'S MY GOAL. THAT'S WHAT I'VE SAID IS ADMINISTRATION BUT THAT'S THAT'S MY UNDERSTANDING.  YOU THINK FOR NOW I'M GOING TO WRAP THIS UP AND JUST ASK IF THERE'S ANY PUBLIC TESTIMONY FROM CENTRAL STAFF? NO.  OKAY. THIS HAS BEEN A GREAT HEARING.  FASCINATING AND I THINK COUNCILOR ANDERSON HAD HER HAND UP OR I JUST I DIDN'T SEE A HAND UP FROM COUNCILOR ANDERSON. HER NAME IS ANDERSON.  MADAM CHAIR, THANK YOU.  I THINK I MISSED MY OPPORTUNITY FOR MY SECOND. MY QUESTION IS I WAS IN TRANSITION. I APOLOGIZE BUT I DID I DID WANT TO GO ON RECORD AND JUST STATE THAT I FEEL LIKE, YOU KNOW, THERE ARE NUMEROUS BENEFITS TO RESIDENTS BY ADDRESSING BOTH LIKE THE IMMEDIATE AND LONG TERM CONCERNS AND I JUST WANTED TO. ONE THING FOR ADMINISTRATION BUT ALSO EVERYONE ELSE ON THE PANEL WHO CAME HERE TO GIVE US INSIGHTS. BUT I DO I FEEL THAT IT AIMS TO REALLY STABILIZE RESIDENTIAL EVEN ALTHOUGH TEMPORARY RE BUT IT'S A NO BRAINER FOR FOR AT THIS TIME AND IT SEEMED THAT WAY BUT I WANTED TO COME AND ENGAGE IN A CONVERSATION AND UNDERSTAND AND HEAR YOUR RESPONSES.  I AM INTERESTED IN NIC'S FUTURE RESPONSE COMMISSIONER PETER RESPONSE TO THE ATTORNEY IN THE DATA. LOOKING FORWARD TO LOOKING INTO THAT AS WELL. AND I THINK FOR RENTERS YOU KNOW THE PROPOSAL LIKE IT INCLUDES SAFEGUARDS TO ENSURE THAT LANDLORDS DO NOT PASS ON INCREASED TAX BURDENS. I REALLY APPRECIATE THAT HELPING TO ADDRESS HOUSING OF COURSE AFFORDABILITY CRISIS AND SMALL BUSINESS WILL ALSO BE ABLE TO BENEFIT FROM CONSIDERATIONS AIMED TO MITIGATE AT ANY NEGATIVE IMPACTS IN A COMMERCIAL TAX RATE. SO I AND HOPEFULLY SUPPORTING OUR BOSTON'S VITALITY.  SO I LOOK FORWARD TO TWO MORE. THAT'S WHERE I STAND FOR NOW IT FEELS VERY CLEAR AND A NO BRAINER. IT'S NOT THE BEST SOLUTION BUT I THINK THE SEPARATE CONVERSATION IS WHAT EVERYONE HAS BEEN ALLUDING TO IN TERMS OF THE ALTERNATIVE OR IS IT A SUPPLEMENT OR IS IT ADDING TO THIS LEGISLATION TO LOOK AT OTHER WAYS OF SPENDING MONEY OR INVESTMENTS THAT MAKE SENSE THAT DOESN'T PUT US IN A PRECARIOUS SITUATIONS OR FISCAL PRECARIOUS SITUATIONS WHERE HOPEFULLY WE'RE NOT GOING TO ANY KIND OF RECESSION GOD WILLING, BUT THAT WE ARE PREPARED AT LEAST FOR THE NEXT FOUR OR FIVE YEARS AND GIVING PEOPLE A CUSHION. THANK YOU, MADAM CHAIR. IS THAT GIVES YOU SO MUCH CONSEQUENT UNDERSTANDING AND I DO JUST WANT AND YOU GUYS COMING IN AND OR THE PRESS AND THE MEDIA HAVE COME IN HERE IF YOU CAN ASK YOURSELF THAT WOULD BE USEFUL.  THANK YOU. I JUST I WANT TO PUSH IT OUT THERE TO THE MEDIA THAT AND I THINK THERE'S BEEN A GLOBE ARTICLE PUBLISHED RECENTLY THAT TALKS ABOUT THE FACT THAT THERE HASN'T REALLY BEEN TOO MUCH INPUT FROM RESIDENTS AND TAXPAYERS AND I REALLY WANT FOLKS TO PROVIDE TESTIMONY EITHER WRITTEN OR ORAL. IT CAN BE TWO SENTENCES YES, I SUPPORT THIS BECAUSE NO I DON'T SUPPORT THIS BECAUSE TO THE COMMITTEE IN MY OFFICE IN THEIR IN THEIR COUNCILORS THERE HAS NOT BEEN AS MUCH PARTICIPATION PARTICIPATION AS I THOUGHT THERE WOULD BE. SO JUST ENCOURAGING EVERYBODY TO GET INVOLVED, TO SHARE THEIR OPINIONS.  WE'RE ONLY MADE BETTER FOR IT. AND WITH THAT I'M GOING TO CLOSE THIS OUT AND JUST SET THAT THIS HEARING ON DOCKET 0642 IS ADJOURNED. THANK YOU SO MUCH, EVERYBODY. THANK Y