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Source:
The Boston Globe
BU commits to $105M PILOT deal with Boston
Boston University has signed a historic deal with the city of Boston to pay over $104 million in cash and benefits over five years, marking the largest agreement of its kind for a tax-exempt nonprofit in the city. Starting with $6.7 million in fiscal year 2026, payments will increase annually, reaching up to $8.3 million, with total contributions—including community benefits—rising to approximately $22.3 million by 2030. This agreement is the first written PILOT (payment in lieu of taxes) deal with BU in over 25 years and aims to help address the city’s strained finances by increasing contributions from its largest nonprofit institutions.
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