Uncovering the BRA's "Money Machine"
Sunday, January 31, 2010 CommonWealth Magazine's Bruce Mohl and Fox 25 Undercover issued a special report on perpetual "resale payments" made to the Boston Redevelopment Authority from condo sales at Flagship Wharf and other Boston developments on property once owned by the city.
"I estimate they (the BRA) have made $4.5 million in payments out of this building, and it just keeps accruing over time," said Mohl, a veteran Boston journalist who is now the editor of CommonWealth Magazine. For the BRA, Flagship Wharf is a gift that keeps giving. Mohl discovered the so-called resale payments while investigating activities at the BRA and found the agency is collecting money every time condo units are sold, not just at Flagship Wharf, but at about 25 buildings in the city."
Click here to read the full report and watch the Fox25 video below.
Commonwealth Magazine and Fox25 have also issued a separate investigative report on city workers buying a disproportionate amount of affordable housing units. Here is the link: City Workers tap BRA Housing Program.
The BRA has issued responses to both of these reports that can be viewed here.
Matt C. | Tags: BRA, Flagship Wharf | Categories: Development/Zoning, Politics/Elected Officials, Real Estate 