Quincy City Council: October 20, 2025

October 20, 2025
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Meeting Minutes: City Council Meeting

Governing Body: City Council Meeting Type: Regular Meeting Meeting Date: Monday, October 20th, 2025 Attendees:

  • Councillor Richard Ash
  • Councillor Scott Campbell
  • Councillor Jim Devine
  • Councillor William Harris
  • Councillor Nina Liang
  • Councillor David McCarthy
  • Councillor Dan Minton
  • Councillor Noel DiBona
  • Councillor Ian Cain (President)
  • Mayor Thomas Koch
  • Town Clerk

Executive Summary

The City Council convened for a regular meeting on October 20th, 2025. The primary agenda item was a comprehensive presentation by Mayor Thomas Koch regarding the city's debt service, financial position, and economic development strategies. Key topics included the Pension Obligation Bond (POB), District Improvement Financing (DIF), and general debt for infrastructure projects. The Mayor highlighted significant savings achieved through the POB, the substantial revenue growth in the DIF district, and the city's strong financial health, evidenced by its excess levy capacity and successful infrastructure investments. The Council also approved an ordinance committee recommendation for two new stop signs.

Call to Order

  • The meeting was called to order by President Cain.
  • Roll Call:
    • Councillor Ash: Present
    • Councillor Campbell: Present
    • Councillor Devine: Present
    • Councillor Harris: Present
    • Councillor Cain: Present
    • (Other councillors not explicitly called out but present based on later votes: Liang, McCarthy, Minton, DiBona)
  • A moment of silence was observed, followed by the Pledge of Allegiance.
  • The Town Clerk read the Open Meeting Law statement.

Presentation: Debt Service Update

  • Speaker: Mayor Thomas Koch

  • Key Discussion Points:

    • Debt Service by Category:
      • Short-term Debt: Primarily Bond Anticipation Notes (BANs) used for early project phases, with only interest paid initially.
      • Long-term Debt:
        • General Debt: Includes $155 million for Mass School Building Authority (MSBA) projects, $100 million in self-supporting water/sewer debt (paid by ratepayers), and $50 million for Community Preservation Act spending.
        • Pension Obligation Bond (POB): Projected savings of $168 million over the life of the bond.
        • District Improvement Financing (DIF).
    • Pension Obligation Bond (POB):
      • The city's retirement system is governed by Mass General Laws Chapter 32, aiming for full funding by 2040.
      • In 2020, the city initiated a POB to fully fund its unfunded pension liability.
      • Timeline of POB Implementation:
        • June 2015: Governmental Accounting Standards Board (GASB) introduced new reporting standards requiring pension liabilities on balance sheets.
        • January 2020: Discussions began on a POB.
        • March 2020: Milliman Consulting contracted for analysis.
        • August 2020: Ramirez & Company selected as senior manager for underwriting.
        • September-October 2021: State Administration and Finance (A&F) discussions and approval.
        • November 2021: S&P Global affirmed Quincy's AA long-term rating and stable outlook.
        • November 29, 2021: Sale date.
        • December 15, 2021: Closing date.
      • The POB secured a 2.62% interest rate.
      • $475 million was invested directly with MassPrim, a respected pension fund manager.
      • Projected Savings: $168.5 million over the life of the bond.
      • Impact on City Contributions:
        • POB debt service remains constant at $37 million annually from 2026 through 2040.
        • Without the POB, the city's contribution in 2026 would have been $50 million, growing by 5.4% annually until 2040.
        • The aggregate service cuts avoided due to the POB are estimated at $697 million.
    • District Improvement Financing (DIF):
      • The downtown program is flourishing, attributed to rezoning (former Mayor Phelan) and the creation of the Urban Redevelopment District and DIF District.
      • The DIF program captures new growth in value from commercial real estate to fund infrastructure.
      • Financial Impact:
        • General Fund revenues increased 4.1% since 2007.
        • DIF revenues grew over 1,375% in the same period.
        • Downtown assessed value rose by 140.2%.
      • Case Studies:
        • West of Chestnut: Significant increase in tax revenue post-development.
        • One Chestnut Place: Dramatic increase in tax revenue from a former parking lot.
        • Global Investors (former Coleman Sporting Goods site): Projected tax revenue increase from $43,000 to $500,000-$600,000.
      • The DIF model is recognized statewide.
    • General Debt (Infrastructure and Schools):
      • Includes investments in education, with four major school construction projects completed and another (Squantum) underway.
      • Most school buildings have received MSBA grants for modernization (windows, boilers, roofs).
      • Projects are financed through local bonding and significant state reimbursement.
      • Christopher Harris Center:
        • Funded by ESSER and ARPA monies (federal funds), with approximately $20 million from county share.
        • First special needs municipal-built, owned, and operated center in Massachusetts.
        • Projected savings of $3-4 million annually in special education tuition and transportation costs.
      • Infrastructure Improvements:
        • 44% of city streets have been redone in the last decade.
        • Annual Chapter 90 funding of $1.9 million, with $24 million spent this year on road improvements.
        • Public Safety Headquarters on C Street: Built with high-quality materials for longevity.
        • Seawall improvements: Adam Shore seawall lifted by two feet, with 8,000 linear feet completed and 12,000 linear feet planned (including Manet Avenue).
    • Excess Levy Capacity:
      • Quincy has extensive excess levy capacity, leaving $31 million on the table this year.
      • Since 2008, 198 cities/towns requested 923 overrides, with 506 passing.
      • Quincy has left $442 million in unused excess levy capacity since Mayor Koch took office.
      • The city's financial stability allows it to avoid Proposition 2 1/2 overrides for operating expenses, unlike many other communities.
      • Comparison with other communities: Somerville required a debt exclusion for one high school, while Quincy is on its fifth new school without an override.
    • Other Performance Indicators:
      • Residential tax rate: Among the lowest 40% statewide.
      • Tax burden: Approximately 50% (middle of the range), with top-tier services.
      • Assessed valuations increased by 32% since 2021.
      • Unemployment rates: Outperformed state and national averages since the pandemic.
      • Strategic partnerships with state and federal agencies secure millions in grants.

  • Councilor Questions and Discussion:

    • Councillor McCarthy:
      • Clarified that the $475 million POB was an addition to an existing pension fund, bringing it to 100% funding.
      • Noted the current pension fund value is around $930 million, demonstrating market growth.
      • Emphasized the significance of the 2.6% interest rate and 15-year term for the POB, highlighting the substantial savings compared to not undertaking the bond.
      • Discussed the short-term BANs for DIF projects and how they transition to long-term financing.
      • Reiterated the long-term tax revenue benefits of DIF projects, citing the Coleman's site example (from $50,000 to $500,000-$600,000 in taxes).
      • Acknowledged the Mayor's point that the downtown development has prevented the city from going "the Brockton way" (economic decline).
      • Inquired about the "16 million dollar comment" regarding the pension ledger. Mayor Koch stated the city fully funded the system with the $475 million POB and believes the current actuarial assessment is off. He expects the system to be well over 100% funded by 2040.
      • Praised the DPW and city services.
    • Councillor Campbell:
      • Expressed appreciation for the educational presentation.
      • Reiterated concerns about the $16 million pension payment, noting the Mayor's explanation that full funding isn't required until 2040.
      • Asked about the city's borrowing capacity and confidence in Quincy's financial standing. Mayor Koch confirmed strong confidence, good rates, and Quincy being a model for other communities.
      • Inquired about potential impacts of federal funding changes on projects. Mayor Koch stated no current impact on CDBG or other federal grants, but they are closely monitored.
    • Councillor DiBona:
      • Thanked the Mayor and department heads for their collaboration with the City Council.
      • Highlighted the "big five" budgetary items (schools, police, fire, health insurance, pensions) and the success of the POB.
      • Mentioned $41 million in funding from National Grid and MassDOT for projects like C Street, which was not explicitly in the presentation but demonstrates external funding success.
      • Asked for details on developments around the General's Bridge:
        • North of the bridge: Beth Israel Medical Building (110,000 sq ft) with urgent care, day surgeries, and primary care, supported by a $50 million garage (with $25 million from the state).
        • South of the bridge: Atlantic Development and Hanover Development project with a specialty grocer, other retail, 300 housing units, and another garage.
      • Explained the MSBA funding process: the city bonds for the full project, but state reimbursements reduce the actual amount needed.
      • Noted Quincy's success in avoiding Proposition 2 1/2 overrides for schools, unlike Weymouth and Braintree.
      • Asked about the impact of inflation. Mayor Koch stated inflation has flattened out, and construction costs are more predictable now compared to post-pandemic spikes.
    • Councillor Liang:
      • Thanked department heads and staff.
      • Praised the downtown's growth and the financial benefits of the DIF.
      • Asked about the long-term plan for the DIF, specifically when the funds would no longer be dedicated to downtown infrastructure and could revert to the general fund. Mayor Koch stated that excess DIF revenue already goes to the general fund, and the district continues to expand with new projects (e.g., Grossman, Star Market site, McGraw Highway).
      • Inquired about the Wollaston redevelopment, confirming it will follow a similar model to the downtown DIF. Mayor Koch stated the Urban Redevelopment District is awaiting state approval, with a decision expected soon, and activity anticipated by next spring.
      • Emphasized the importance of dialogue and collaboration, even when there are disagreements, citing her initial opposition to the POB but acknowledging its long-term impact.
    • Councillor Ash:
      • Appreciated the overview for new councillors.
      • Clarified that the DIF case study numbers (slides 15 & 16) represent actual collected taxes, not projections.
      • Asked about the annual process for the Pension Employee Retirement Administration Commission (PERAC) order for the budget. Mayor Koch confirmed the city receives a "bill" that is inserted into the budget.
      • Inquired about the timeline for Milliman's second opinion on the actuarial study, expecting it within a few months, before the end of the calendar year.
      • Addressed the S&P report's economic outlook revisions, noting the primary concern was the city's reserve levels. Mayor Koch stated the city prioritizes services and infrastructure but will consider adding to reserves.
      • Asked about next year's property tax rates. Mayor Koch stated it's too early, awaiting free cash certification and new growth numbers.
    • Councillor Devine:
      • Addressed public confusion about the city's debt, emphasizing the value received for the investment.
      • Compared Quincy's police and fire departments to other communities, highlighting their excellence due to strategic investment.
      • Noted national investors' interest in Quincy despite broader economic volatility, recognizing Quincy as a "golden nugget."
      • Asked about other communities' pension obligations, specifically Milton. Mayor Koch stated only a handful of communities are in better shape than Quincy regarding pension systems, and many face significant challenges.
    • President Cain:
      • Thanked the Mayor and Councillor McCarthy for the presentation.
      • Acknowledged Quincy as a model for DIF and expressed optimism about the POB's future, awaiting resolution on the pension contribution.
      • Praised the city's progress in capital improvement planning and the recent $100 million bond.

Approval of Previous Meeting Minutes

  • Motion: To approve the previous meeting minutes.
  • Moved by: Councillor Liang
  • Seconded by: Councillor McCarthy
  • Vote: All in favor.
  • Outcome: Motion passed.

Communications and Reports from the Mayor, Other City Officers, and City Boards

  • None.

Unfinished Business and Proceeding Meeting

  • None.

Reports of Committees

Ordinance Committee

  • Chair: Councillor Liang
  • Item: 2025-118 - Add two stop signs on Kimball Street at Campbell Street, creating a four-way stop.
  • Recommendation: Positive recommendation from committee.
  • Motion: To approve the recommendation.
  • Moved by: Councillor Liang
  • Seconded by: Councillor McCarthy
  • Roll Call Vote:
    • Councillor Ash: Yes
    • Councillor Campbell: Yes
    • Councillor Devine: Yes
    • Councillor DiBona: Yes
    • Councillor Harris: Yes
    • Councillor Liang: Yes
    • Councillor McCarthy: Yes
    • Councillor Minton: Yes
    • President Cain: Yes
  • Outcome: Motion passed (9-0).

Presentation of Petitions, Memorials, and Remonstrance

  • Councillor DiBona:
    • Thomas Arnett: Lifelong Quincy resident, passed away at 86. Served over 40 years in the National Guard, retiring as Lieutenant Colonel (promoted to Colonel). Worked as an insurance claim manager for 26 years. Wake held on October 20th, funeral on October 21st at 10:30 AM at St. Ann's Church.
    • Dr. Carmen Mariano: Passed away October 15th at 78. Survived by wife Didi Fagerlund Mariano (52 years of marriage), sister Natalie Mariano, and the Fagerlund family. Long career in education, remembered for passion, devotion, and kindness. Funeral mass on Saturday, October 25th at 10 AM at St. Paul's Church in Hingham, followed by burial at Mount Wollaston Cemetery.
  • Councillor Campbell:
    • Brady O'Connor: Immigrated from County Kerry in 1959, lived in Adam Shore, passed away at 82. Mother of eight children, 12 grandchildren, married for 58 years. Former nurse at Quincy Hospital. Mother of Lieutenant and Deputy Fire Chief Kevin O'Connor. Services on Wednesday at Magoom Biggins Funeral Home in Rockland, mass on Thursday at 9 AM at Holy Family Church in Rockland.
  • Councillor Devine:
    • Reiterated condolences for the O'Connor family.

Motions, Orders, and Resolutions

  • None.

Scheduling of Committee Meetings and Public Hearings

  • Next regularly scheduled City Council meeting: Monday, November 10th at 6:30 PM.

Adjournment

  • Motion: To adjourn.
  • Moved by: Councillor Liang
  • Seconded by: Councillor McCarthy
  • Vote: All in favor.
  • Outcome: Motion passed.
  • The meeting was adjourned.

Last updated: Nov 9, 2025

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