Good morning folks,

The Justice Department sued Visa yesterday, accusing the credit card company of illegally maintaining a monopoly.  

That’s likely welcome news to small business owners who regularly say high credit card fees is one the most frustrating expenses on their ledgers.

Lawmaker stalemate is costing the Commonwealth

A new report from Mass Taxpayers Foundation documents how Beacon Hill’s failure to pass an economic development bill harms the state’s economy, most notably in the life sciences, climate tech and artificial intelligence sectors.

Both the House and the Senate unanimously passed variations of the governor’s bill. But months later (and 56 days after ending formal sessions, but who’s counting?)  leaders have yet to reconcile their differences.

Meanwhile, about one-quarter of the state's economic development capital spending plan for this fiscal year is being held up by the bill’s delay.

And MTF warns that punting the bond bill to a new session that begins in January would mean a loss greater than half a year of productivity.

“This bill bolsters Massachusetts’ ability to compete for a better economic future,” the report says. “Failure to act also makes the case for attracting people and investment to Massachusetts even tougher.”

It also “sends the wrong message to communities and employers in the state who are looking to work with the public sector to expand economic opportunity and respond to changing conditions. “

“Acting this fall to extend the life sciences authorization for ten years and increase the annual tax credit cap is a tangible way for the legislature to demonstrate its commitment to life sciences – as well as a commitment to retain the companies already located in Massachusetts and to attract new investments and new ideas to this existing area of strength.”

More sleep likely for Wellesley Town Meeting members

The possibility that Wellesley Town Meetings members may get home in time to watch Jimmy Kimmel just improved, thanks to new guidelines that start with the Special Town Meeting on Oct. 21.  

That includes slicing speaking time from five to three minutes  There’s also a new provision that would halt debate after after 30 minutes of discussion, if a two-thirds majority approves, according to the Swellesley Report.

And motions that appear to have little opposition can now be decided on voice vote, rather than through those time-consuming hand-held voting devices.

Voters support state rezoning law

A new poll finds that more voters support the MBTA Communities Act than oppose it.

Fifty percent of likely voters think the law enacted in 2021 is "good policy," compared to 31 percent who called it "bad policy," a 19-point difference, according to the MassINC Polling Group.

Another 19 percent said they did not know or refused to answer the question, reports Chris Lisinski at State House News.

And Greg Ryan at the BBJ reports that construction has begun on a 160-unit residential development in Westwood. It’s one of the first multifamily projects to break ground under the new zoning law.

Needham affordable housing effort advances

Plans to preserve and expand affordable senior and disabled housing units in Needham just took another leap forward.

The Needham Housing Authority has selected AHSC/Peabody Developer LLC to be its development partner for the first phase of its Linden Street Redevelopment Initiative, reports Peter O’Neil at the Needham Observer.

The move clears the way for the NHA to apply for state and federal funds for the estimated $84 million project this fall.

The existing Linden Street & Chambers Street development has been home to nearly 1,000 seniors and disabled residents since the 1960s. But the 152 deeply-affordable studio apartments are more than 60 years old, worn out, cramped, and in need of replacement.

Phase one will involve replacing 18 single-story bungalows that have four studio units each. The bungalows will be demolished in phases to make way for a four-story, 72-unit building on Linden Street.

An additional 64 units would be added in a second phase, fora final total of 136 units.

Several years down the road, NHA plans to update another 80 units and add 31 units at Chambers Street,

The Braintree-based Peabody has 15,000 affordable units under management, mostly in Massachusetts and Rhode Island.

Today’s grab bag

• The  Mass. Dept. of Revenue will administer a tax amnesty program from Nov. 1, through Dec.30, 2024. DOR will waive most penalties for eligible taxpayers who submit an online request for amnesty, file outstanding returns, pay tax and interest.  Details.
  
  
• Our business-focused virtual debate between the two Needham state rep candidates is tomorrow (Sept. 26) at 1 p.m.
  
  
• The Newton City Council’s Zoning & Planning committee is considering a proposed BERDO ordinance requiring owners of commercial properties of at least 20,000 SF to report and eventually reduce energy use. Unfortunately, many of the questions and comments from a few council members Monday (video here and slides here) seemed to have to do with their own residential (even single-family) experiences, not the properties in the draft ordinance they would be regulating.
  
  
• Fit-Z's Bar& Grille owner Jim Fitzgerald has sold his Watertown business and is closing on Monday (Sept. 30).
  
  
• TD Bank president and CEO Bharat will retire next spring after 38 years at TD. Raymond Chun, currently of TD’s head of Canadian personal banking, will succeed him. (Banker & Tradesman)
  
  
• The UPS Customer Service Center at 76 Arlington St. in Watertown has closed.  (Watertown News)
  
  
• The Society of St. Vincent de Paul’s annual “Friends of the Poor Walk” fundraiser is Sunday (Sept. 29) at 1 p.m. with a 1.5 mile walk around Crystal Lake, beginning and ending at Sacred Heart Church. Pre-register or donate.
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• Middle Eastern fast-casual restaurant group NAYA is coming to Arsenal Yards. (BBJ)
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• Newton native Caroline Ellison, a former top executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, was sentenced to two years in prison yesterday. (Boston.com)
  
  
• The Watertown Cultural Council is accepting grant applications for arts, humanities, and sciences projects benefiting Watertown residents. Apply by Oct. 16. Learn more.
  
  
• The League of Women Voters of Newton will host a discussion on Ballot Question #2, regarding the elimination of the MCAS test as a graduation requirement, Oct 7 at 7 p.m. at the Newton Free Library. Details.

Watertown Square Area Plan enters the wonky phase

A mammoth document with proposed zoning changes to Watertown Square just landed on the desks (or in-boxes anyway) of the city council and planning board.

The first public presentation and first joint public hearing is Oct. 16, 6:30 p.m. at Watertown Free Public Library.

The goal is to complete deliberations before year’s end because the zoning — part of the Watertown Square Plan — also serves to place Watertown in compliance with the MBTA Communities Act.

Everyone was a winner at the first Wellesley Night

Finally today, our thanks to the nearly-150 chamber members and friends who joined us at Dryft last night for our first annual Wellesley Night, presented by Needham Bank.

And congratulations to the winners of our first annual Wellesley Business Awards:

• Business Excellence Award, presented Green’s Hardware.  (That’s owner Tom Green, with two members of his team, state Rep. Alice Peisch and me in the photo)
• Community Leadership Award, presented to Demian Wendrow, Wellesley Square Merchants Association
• Pivot Award, presented to Wellesley Village Table.
• Nonprofit Impact Award to Wellesley FriendlyAid

It was our first Wellesley Night. But it won’t be our last.

That’s what you need to know for today, unless you need to know how much water, yes water, it takes to generate a 100-word email using an AI chatbot.

Be back Friday.

Greg Reibman (he, him)

President & CEO

Charles River Regional Chamber

617.244.1688

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