Under the plan, the Massachusetts Department of Transportation's annual contributions to the nonprofit that runs the urban park would go from $2 million in fiscal 2017 down to $750,000 in fiscal 2020 and future years.
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MassDOT Assistant Secretary for Policy Coordination Kate Fichter said the owners of 20 commercial properties agreed to work with the nonprofit group A Better City to create a Business Improvement District, which would contribute $1 million annually to the park over the next few years. The city would establish a Greenway support fund financed with $5 million from the anticipated sale of the Winthrop Square garage site, according to Fichter, who said the city expects to generate $250,000 annually for the Central Artery park.
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Under the six-year agreement with MassDOT, the state will pay the conservancy $1.25 million in fiscal 2018, plus a $500,000 advance, and then $1 million in fiscal 2019, and $750,000 in future years. The state will provide capital maintenance funding capped at an average of $360,000 per year, under the deal.
The Business Improvement District starting in fiscal 2020 would seek an additional $500,000 annually for the Greenway, according to MassDOT.
