QUINCY – City councilors have a stacked agenda on Monday, when they plan to finish analyzing next year’s budget, consider a $61 million bond request for Quincy Center and dig into a land deal with a private developer that could bring a 200,000-square-foot medical office to the downtown.
The city council’s finance committee meets at 6 p.m. Monday, at city hall, 1305 Hancock St. to consider these matters, befort the city council’s regular meeting at 7:30 p.m. This is the council’s final meeting before it takes a break until after Labor Day.
The finance committee will consider the final piece of Mayor Thomas Koch’s proposed $325 million budget for the year that begins July 1 before making a recommendation to the council.
Earlier this month city councilors asked Mayor Thomas Koch to reconsider his plan to create a separate downtown budget for employees dedicated to Quincy Center operations, arguing it sets up an unfair advantage for a single city neighborhood.
“I don’t like the idea that we are segregating one neighborhood and separating out one neighborhood to fund positions for,” Ward 4 City Councilor Brian Palmucci said.
Koch’s budget proposal would create a separate $7.2 million budget for Quincy Center, that includes hiring a downtown coordinator, an engineer and a handyman, and fund routine maintenance and overtime. The plan would cover the debt service payments for the $120 million the city has bonded to pay for downtown projects.
Infrastructure projects in Quincy Center’s special revitalization district are financed using the city’s district-improvement financing program, which allows the city to borrow against the future taxable value of downtown properties.
Mayor Thomas Koch has asked the council to approve an additional $61 million in infrastructure upgrades in the Quincy Center revitalization district that includes nearly $16 million to buy land and create a design for a second downtown parking garage, as well as nearly $40 million in street and subsurface improvements and temporary parking.
A potential deal with local developer FoxRock Properties is also on the table. Mayor Koch’s administration has negotiated a deal that would transfer 2.1 acres of city-owned land to FoxRock Properties at no charge if the developer will build a 200,000-square-foot medical office. FoxRock would also make a one-time payment of $4.25 million to Quincy in exchange for the city relinquishing its claim to the former hospital property at 114 Whitwell St., where it wants to build a 490-apartment development.
Reach Erin Tiernan at email@example.com or 617-786-7320. Follow her on Twitter @ErinTiernan.