Public Facilities Commission Meeting (Treasury Department)

 

Distribution of Property to The Benjamin Franklin Institute of Technology (BFIT): land and buildings located at 41-47 Berkeley Street, Boston, Massachusetts.

 

 

Ward:  05

Parcel Number: 00688000

Square Feet for Land:  16,000 (total)

Assessed Value Fiscal Year 2018:  $5,875,000 (total)

Appraised Value November 3, 2017:  $10,000

 

WHEREAS, the Massachusetts Supreme Judicial Court on October 4, 2018 ordered[1] the City of Boston to distribute property[2], held in a charitable trust for the sole benefit of The Benjamin Franklin Institute of Technology, a Massachusetts Corporation, with an address of 41 Berkeley Street, Boston, MA 02116; and

 

WHEREAS, the property consists of approximately 16,000 square feet of land, with buildings and improvements thereon, located at 41-47 Berkeley Street in the City of Boston (Ward: 05, Parcel: 00688000); and

 

WHEREAS, the City of Boston serves as trustee of a charitable trust, which holds legal title to the property for the sole benefit of The Benjamin Franklin Institute of Technology; and

 

WHEREAS, distribution of the property to The Benjamin Franklin Institute of Technology is consistent with the original purpose of the charitable trust and is in the best interest of The Benjamin Franklin Institute of Technology, as the sole beneficiary; and

 

WHEREAS, pursuant to G.L.c. 203E, §§ 410 and 412, the charitable trust was declared terminated by the Massachusetts Supreme Judicial Court[3]; and

 

WHEREAS, the City of Boston is ordered by the Massachusetts Supreme Judicial Court to distribute the property to The Benjamin Franklin Institute of Technology; and

 

THEREFORE, subject to the approval of the Mayor under St. 1909, c.486, § 31B (as appearing in St. 1966, c.642, § 12) the Public Facilities Commission does hereby vote in accordance with the order of the Massachusetts Supreme Judicial Court to distribute the property to The Benjamin Franklin Institute of Technology, a Massachusetts Corporation; and

 

FURTHER VOTED: the Chief Financial Officer, Collector-Treasurer be, and hereby is, authorized to deliver an instrument, approved as to form by the City’s Corporation Counsel, distributing said property, on behalf of the City of Boston with the approval of the Mayor, to The Benjamin Franklin Institute of Technology in consideration of ONE DOLLAR ($1.00).

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