He left a legacy Watertown can build on

By Charles River Regional Chamber

2/14/2023

Happy Valentine’s Day,

Need another data set to illustrate how our housing shortage leaves out so many?

More than half of all homes sold in much of Wellesley last year were cash sales.

The percent of all-cash sales in Newton was around 40% in some zip codes and nearly one of four sales in other parts, as well as across Watertown.

In Needham, about every third home sold was cash.

That’s according to some fascinating charts published by the Washington Post (free link here, go to the map and type in "Boston Metro" to find our communities).

“Rising interest rates, soaring home prices, and decreasing inventory aren’t the only things making it difficult to buy a home these days,” the authors write.

You also need to be sitting on a very large pile of cash.

"The rise of all-cash buys comes at a time when the average home buyer is increasingly likely to be White, wealthy, and older and the proportion of first-time buyers is at its lowest in more than 40 years," the Post adds.

Nearly 200 nominations but did we get one from you?

We've received close to 200 nominations for our list of the “50 Most Influential Business Leaders of Color in Greater Boston’s Western Suburbs” as well our “Emerging Business Leaders of Color" list of those under 40.

Or goal is to showcase the individuals and employers who are making a positive contribution to the economic and social fabric of our west suburban businesses and nonprofits.

But we also want to measure whether our region’s employers have, or haven’t, fulfilled commitments towards becoming more diverse, equitable, and inclusive.

And we don't want to overlook anyone. If you've been putting it off, today (Feb. 14) is the deadline.

Multiple nominations, repeat nominations and self-nominations are welcome.

The nomination form is here.

Mike 'Fiscal Driscoll' remembered

Our condolences to the family, friends, and former colleagues of Michael Driscoll, who served Watertown’s municipal government for 45 years, including close to three decades as Town/City Manager.

Driscoll, 70, passed away Saturday after receiving treatment for cancer over the past year, according to the city.

He leaves behind a tremendous legacy , overseeing so much of the change, development, and progress Watertown enjoys today, including building three elementary schools and a new high school without a debt exclusion override.

Under the man known as "Fiscal Driscoll," the city's retirement system has been fully funded, making Watertown the envy of municipal leaders across the state.

“Watertown lost a great public servant,” his successor, current City Manager George Proakis, wrote on Linked-In.

“He left behind a well-run and fiscally sound government when he retired early in 2022. His legacy will always be here - his impact is never forgotten. We all hope to continue building on that legacy for many years to come.”

Visiting hours are Thursday (Feb. 16) at St. Patrick's Church in Watertown, MA from 4-7 p.m. and again on Friday at 10 a.m. prior to funeral mass and burial. Details.

IRS to us: No taxes due on your one-time rebate

Those one-time tax rebates many of us received from the state last year will not need to be reported as income in many instances, the IRS has ruled.

Anyone who takes the standard deduction does not need to report the Chapter 62F refunds tax refund money they received from the state, reports Ben Simmoneau at WCVB.

Other Need to Knows

Can the "Circle of Death" be made safer? MassDOT is looking to identify short-term improvements to the state-owned roadway and intersecting streets at Interchange 127 and Washington Street in Newton Corner. There's a virtual meeting on March 1 at 6:30 p.m.

Newton’s City Council will hold a public hearing tomorrow (Feb. 15) at 7 p.m. exploring the adoption of the state Specialized Energy Code effective Jan 2024. The meeting will include a presentation by the Mass Department of Energy Resources.

The chamber is also hosting a presentation for those in the real estate sector on the new Energy Code on Feb. 21 at noon. Details.

No that's not a Chinese "weather" balloon. The Wellesley Police Department has launched a new Unmanned Aerial Vehicle or drone program. They’ve made this video to demonstrate how they plan to use it.

MassBio and MassBioEd Foundation are hosting a virtual Career Fair on Feb. 22 at 3 p.m. Details.

Do you have employees who need help with their English? The Needham Community Council's English Language Learner Program has new classes available. The classes are free and led by experienced volunteers. Sign up here or email.

Let’s Talk Womxn Boston is hosting an epicurean event to kick off Women’s History Month, bringing together nineteen of Boston’s top women-founded restaurants, distilleries bakeries, and more on March 1 at 5:30 p.m. at a Boston venue to be revealed ticket holders only. Participating restaurateurs include three local faves: Seana Gaherin of Dunn Gaherins, Kate Smith of Thistle & Leek and Nancy Cushman of Bianca. Details

Let us know how you feel about Newton’s proposed property tax increase

The chamber’s board of directors wants to know how Newton business owners and operators feel about a proposal by Mayor Ruthanne Fuller to raise property taxes by about $15 million through three tax override ballot questions.

Learn more about the overrides by watching the video from our Newton Business Town Hall last week.

I also recommend this article from the Newton Beacon.

And find out how much your taxes will increase with this override calculator

Two notes about the video from our event:

In a comment to Fuller, I mistakenly said that all of the past overrides in Needham and Wellesley was exclusively debt exclusion overrides. Both communities have successfully raised money for both capital projects (dept exclusions) and for operating costs through tax overrides.

Fuller’s office got back to us on the size of a settlement from Eversource. The administration says the settlement is closer to $12 million, plus interest. Some legal appeals remain before the money will be available.

Our directors will be discussing the overrides tomorrow morning and they would appreciate hearing from you.

Food pantry seeks a long-term temporary home

Does your Watertown business or commercial property have some space that could host the Watertown Food Pantry for about 12-18 months?

The pantry’s regular location, the Belmont-Watertown Methodist Church on Mt. Auburn Street is undergoing renovations. They’re looking for a ground floor space around 30 ft x 60 ft, with power to support three refrigerators and two freezers and able to accommodate truck deliveries.

Watertown News has more details. If you think you can help here's the contact.

Welcome to our newest besties

Finally this morning, we're gratified by the number of companies and nonprofits that are deciding 2023 is the year to join the chamber, or to rejoin after a lengthy absence.

?Here are January’s new members:

· Blue Lotus Healing Arts, LLC

· The RMR Group

· The Green Lady Dispensary, Inc.

· Berkley Investments

· LIMANI

· Tower Hill Financial Group

· Law Office of Aimee Bonacorsi, LLC

· Broder

· Kona Ice of Framingham/Natick

· Home Ready Solutions

· Tru-Est Construction LLC