Finance

The Finance Division oversees, both separately and combined, the general accounting, budget, grants, procurement/purchasing, audit, cash and investments, tax filings, AP/AR, lease administration, general insurance, and fiscal operations for the BPDA Board and the Planning Department.

The Boston Planning & Development Agency (BPDA) is the combined operating entity of the Boston Redevelopment Authority (BRA), the Economic Development and Industrial Corporation (EDIC), and the Boston Industrial Development Finance Agency (BIDFA). There is one associated 501(c)(3) entity: the Boston Local Development Corporation (BLDC).

The Boston Local Development Corporation (BLDC), a private 501(c)(3) non-profit corporation governed by an independent board of trustees, works to increase employment opportunities for Boston residents by providing small business loans with a focus on commercial, industrial, and service companies. The day-to-day operation of the program is provided by City of Boston staff.

In 1971, the Boston Industrial Development Finance Agency (BIDFA) was created under Massachusetts General Laws Chapter 40D. In 1972 it was constituted as a board of the City of Boston and began its work as an affiliate of the Economic Development and Industrial Corporation of Boston (EDIC). The BIDFA Board of Directors is a board of the City of Boston, appointed by the Mayor and confirmed by the City Council.

Primary sources of revenue include rental/lease agreement payments and parking fees on properties managed by the Planning Department, fee income on loans awarded through the BLDC, income generated from the sale of agency owned land and buildings, grant income, interest income, and income from investments.

For information on loans issued through the BLDC, please visit bostonbusinessloans.org.

For more information about the Finance department, please contact Tim Mathis.