1.8 min readBy Published On: April 4th, 2016Categories: News0 Comments

Looks like No Boston 2024 – the group of activists opposed to the Olympics coming to Boston in 2024 – are channelling their energies to protest GE’s cushy deal with the City of Boston.  According to an article in Politico written by Lauren Dezenski, No Boston 2024 is reaching out to its supporters urging them to oppose General Electric’s move to Boston.

The group is planning to protest a press conference on Monday celebrating GE’s move with Mayor Marty Walsh, Governor Charlie Baker and GE executives.

To bring you up to speed, GE announced on March 24th that they will be purchasing the 2.5 acre property located in the Fort Point neighborhood of South Boston from Proctor & Gamble at 5 and 6 Necco Way. Great news for the neighborhood right?  Well, how is this  Fortune 500 (ranked 8th) company getting free rent for 20 years in one of the hottest areas of the city?

Then four days later, it was discovered that in addition to a property tax relief up to $25 million, GE was also eligible for free rent for up to 20 years if any properties that GE resides in is owned or leased by the Boston Redevelopment Authority.  Well, according to Boston Magazine, the BRA has come into possession of the building initially reported as being Proctor & Gamble property.

Hmmm….seems like a little bit of shenanigans going on here.  So Proctor & Gamble is selling the property to the BRA who can in turn give GE free rent for 20 years.  If you want to read the full five page document with all the benefits of this sweet deal including helipads, giant tax breaks and evidently free rent too, you can read this piece in the Boston Globe.

The article in Politico goes on to state that No Boston 2024 sees a similarity in the deal with GE and the Boston 2024 bid.  “….they both are backroom deals offering slices of city assets, including public funds, to a large, out-of-state entity with a tarnished history. Those public funds, they say, should be used to invest in the city’s schools, transportation system, and affordable housing.”

Leave A Comment