Colleges may start contributing more to the city - News

Colleges may start contributing more to the city - News: "n another attempt to increase payments from tax-exempt institutions, Mayor Thomas M. Menino last week formed a task force of college presidents, hospital officials and city agency representatives to regulate the payments that tax-exempt institutions make to the city instead of taxes. In a statement released Tuesday, Menino said agreements on upping PILOTs, or payments in lieu of taxes, are not about generating new revenue, though the city faces a $140 million budget deficit. Instead, he said, it is about making up for what the city loses on property taxes and for what students cause in damages."