When the East Boston Foundation received its fifth milestone payment from Massport last week there were $850,000 reasons to say thank you to Massport.
The payment was part of Massport’s agreement made more than a decade ago which allows for mitigation payments for major airport improvements.
Mitigation payments from Massport are no different from mitigation payments received by cities and towns from large corporate entities who make such payments so that everyone benefits from development.
In this instance, Massport made this payment as part of the Consolidated Rental Car Facility, which is now being built at Logan Airport.
That facility will house thousands of rental automobiles instead of the rental automobiles being scattered all over the immediate area.
This is a major effort and so the milestone payment is welcome.
Now it will be up to the East Boston Foundation to give that money out to worthy organizations such as Zumix, the YMCA, the Salesian Boys and Girls Club, East Boston Little League and Girls Softball.
The funds are administered by the Board of Trustees of the East Boston Foundation.
The trustees are: Cheryl Brown, Chris Marchi, David Arinella, Diane Modica, Gail Miller, John Parziale, John Pranckevicius, Robert Anthony, Stephen Sulprizio and Vinny Schettino.
Attorney Richard Lynds is the executive director of the foundation.
Under the rules of the foundation, the funds can be used to aid non-profits for early education, after school programs, sports and recreation, community and cultural events, business development, neighborhood beautification and many, many more.
We urge all the directors to take a great deal of time determining how these funds will best be spent.