condominium conversion

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”