Massachusetts Governor Charlie Baker has proposed hiking the state’s real estate transfer fee by 50% to fund climate resiliency projects.
The plan would raise more than $1 billion in the next decade for projects to make cities and towns more resilient to the effects of climate change. The popular Republican governor’s plan has encountered resistance from real estate industry leaders and trade groups.
Baker’s plan would add nearly $1,200 in taxes to the sale of a $500,000 home, with the costs paid by the seller. The increase would raise from $130 million to $150 million annually toward a Global Warming Solutions Trust Fund that cities and towns could tap through grants, loans, and other means for local projects.
Baker said that there is no other program that will raise the funds needed to deal with the intensity and frequency of storms as the effects of climate change increase.
Related Stories
| Mar 1, 2012
LEED Platinum standard likely to mean net-zero energy by 2018
As LEED standards continue to rise, the top level, LEED Platinum, will likely mean net-zero energy construction by 2018.
| Mar 1, 2012
EPA beefs up stormwater discharge rule from construction projects
The U.S. Environmental Protection Agency (EPA) has now finalized its 2012 construction general permit (CGP) that authorizes stormwater discharges from construction projects that disturb one or more acres of land in the areas where EPA is the permitting authority.
| Mar 1, 2012
Regulators investigate structural failures during construction of two Ohio casinos
Regulators with the Occupational Safety & Health Administration and the city of Cincinnati are investigatingthe collapse of the second floor of Cincinnati's Horseshoe Casino as workers were pouring concrete.
| Mar 1, 2012
Is your project too small for LEED? Consider other green standards
There are many other recognized national, state and local programs that offer a variety of best management practices and sustainable design, construction and operating strategies.
| Mar 1, 2012
California bill aims to cut costs for commercial building energy retrofits
A bill in the California Assembly would allow the state to pool together property owners’ energy-retrofit loans.
| Feb 29, 2012
Carvalho appointed Shawmut Safety Director
He has been a driving force behind multiple safety-orientated initiatives at Shawmut, including Safety Week, the creation of an online safety manual, and the implementation of a new safety reporting and tracking system.
| Feb 23, 2012
Federal budget cuts put major building projects on hold
A plan to build the National Bio and Agro-Defense Facility in Kansas is among several major building projects in jeopardy after the Obama administration’s 2013 budget was unveiled. The budget would cut all construction spending for the facility.
| Feb 23, 2012
Federal agencies fixed on leasing LEED-certified space
The federal government is especially focused on renting LEED-certified spaces.
| Feb 23, 2012
Regulators investigating construction accident at World Trade Center
The New York Port Authority and the city’s fire and building departments are investigating an accident at the World Trade Center construction site in lower Manhattan after a crane dropped steel beams that fell about 40 stories onto the truck that delivered them.