UMass Lowell Contributions to the City of Lowell

UMass Lowell also provided the following:

UMass Lowell Contributions to the City of Lowell
June 21, 2016

Direct Tax Payments and Parking Leases:
 $567,300 in FY16 property taxes from property leased by UMass Lowell (includes Riverview Suites, other off- campus rental housing, and offices/labs in 110 Canal, Cross River Center and Wannalancit Mills)

 $75,000 in annual meals and rooms taxes

 $185,000 annually in parking lease payments for Sheehy Park, Ayotte Garage and Father Morissette Boulevard

Indirect Tax Payments:
 $201,060 FY16 PILOT for state-owned real property (also includes DCR, MCC, and other state holdings, but UMass Lowell is largest single state agency property owner in Lowell by value)

 Approximately $600,000 in FY16 property taxes from apartments rented by UMass Lowell students living off-campus (assumes 3 students/apt. and $1,500/apt. in average tax revenues)

University Contributions to Construction, Infrastructure and Other Projects:
 Recent commitments totaling $7.52 million in saved costs for the city:

o $150,000 annually for 20 years to support Canal Bridge TIGER Grant match; significant staff time and consultant costs to enable City to win $13.4M grant
o $80,000 annually for 20 years to support Lower Locks Garage repair project
o $75,000 in direct funding for the joint city/UMass Lowell/Lowell Plan marketing campaign;
$100,000 in in-kind creative, media planning, and media buying services
o $820,000 to reconstruct the Broadway and Wilder Streets intersection
o $900,000 to reconstruct the Broadway and Pawtucket Streets intersection
o $150,000 to construct new sidewalks on Whiting Street, Perkins Street, and Pawtucket Street near Fox Hall
o $200,000 for new streetlights and sidewalks around University Crossing
o $200,000 for new streetlights and sidewalks around University Suites
o $200,000 to replace a city water main near the North Campus Garage
o $60,000 for city water main repairs near University Crossing
o $80,000 for utility work at the University Avenue and Riverside Street intersection
o $60,000 for Pawtucket Street Corridor Planning Study (includes $20,000 grant obtained by UMass Lowell and $40,000 in campus funding)
o $65,000 for Wilder Street and Broadway repaving (beyond limits of UMass Lowell construction)
o $10,000 to repair the Pawtucket Prism public art sculpture

Advertisements

One thought on “UMass Lowell Contributions to the City of Lowell

  1. Ralph Sutter

    That totals to about $9.2 million annually.

    The residents at Perkins generate about $9 million annually in local business revenue each year and year-round.

    Our annual tax contribution weighs in at around $1.2 million in cumulative taxes. Again, this is only our building! What we contribute is also far more in relationship to our annual earnings…

    What residents contribute should not be ignored.

    Reply

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s