In the early 1980s, in an effort to generate much-needed revenue for the City of Boston to offset federal and state budget cuts, the Massachusetts Legislature passed legislation entitled, “An Act Establishing the City of Boston Funding Loan Act of Nineteen Hundred and Eighty-Two and the Massachusetts Convention Center Authority” (the “Act”). In addition to creating the Massachusetts Convention Center Authority, the Act allowed the city to borrow up to $75 million and to issue and sell bonds and notes to try to bring the city out of a serious financial deficit, all of which was to be secured by the levy of several new taxes.

Continue Reading The Funding Loan Act of 1982 and the Origins of “Tregor Stamps”

On February 12, 2018, President Donald Trump released his fiscal year 2019 budget proposal entitled “An American Budget.” Though Congress will not implement the proposal in its entirety, it still demonstrates what the Trump Administration would like to see prioritized in the coming year, which does not include climate change research. President Trump’s proposal would cut the National Oceanic and Atmospheric Administration’s climate research by more than one third, which would include cutting research into sea level rise.

Continue Reading Cities and Developers Must Prepare for Climate Change Now

Previously on this blog, my colleagues posed the question to commercial landlords, “Do you know who’s working in your building?” In this post, I look at a different aspect of the sharing economy—residential short-term rentals (STRs, for short)—and ask, “Do you know who’s living in your apartment?”

Continue Reading The Rise of Short-Term Apartment Rentals: Concerns and Opportunities for Multifamily Owners

A sophisticated (and effective) wire-fraud scam targeting real estate (and other) transactions is on the rise, and mostly occurring in the United States.

Here’s a Wire Fraud Alert from Chicago Title explaining how the scam works.

The National Association of Realtors suggests following this guidance to avoid becoming a victim: Continue Reading Sophisticated Email Scams Targeting the Real Estate Industry