Pot shop ban would cost city lost tax revenue

Here’s Greg Reibman’s column about the potential fiscal impact of a proposed ban on recreational marijuana stores here, as it appears on the Newton-Needham Regional Chamber’s website. 

A ballot referendum that would ban the sale of adult-use recreational marijuana in Newton would result in the loss of millions of dollars annually in local tax revenue, according to city projections.

Given the nascent nature of the marijuana industry, it is difficult to pinpoint exactly how much revenue could be on the table. However, the revenue from a three percent local recreational marijuana tax and up to three percent in local host agreements could yield over $2 million and perhaps more, said Jonathan Yeo, chief operating officer for the City of Newton.

“These new dollars could potentially equal or exceed the [$1.95 million] Newton now collects annually from the local meals taxes from 400 restaurants,” Yeo said.

Mark Marderosian’s (unpublished) final TAB toon

Mark Marderosian’s (unpublished) final TAB toon

One of the joys I had as editor of the TAB was going into my inbox on Mondays and opening Mark Marderosian’s editorial cartoon. Even these past couple months since leaving, his artwork on the opinion page was always one of the first items I’d look for....

Globe profiles Korff and his vision for Newton

The Sunday Globe features a piece by Jon Chesto about developer Robert Korff and his plans to remake the Washington Street Corridor. For those of us who have been following the situation for the past several years, beginning with Korff’s purchase of the Orr...

Mayor Fuller presents FY19 budget to City Council

Mayor Ruthanne Fuller presented her FY 2019 budget to the City Council earlier this evening. Here’s a transcript of her remarks.   President Marc Laredo, Vice President David Kalis, President Emeritus Lisle Baker, Chair Ruth Goldman, Vice Chair Steve...

Council approves $500K for Washington Street study

Two weeks after Ward 4 Councilor at-Large Lenny Gentile chartered a $500,000 request from the mayor’s office to fund a master plan/rezoning project for the Washington Street Corridor, City Council approved the money Monday night by a 17-6 vote. At issue was...
Newton Highlands Village Day — Sunday, June 14

Newton Highlands Village Day — Sunday, June 14

The 40th annual Newton Highlands Village Day will be Sunday, June 14, from 11AM to 4PM on Lincoln Street between Walnut and Chester.  Net proceeds will benefit the Highlands community via the Hyde Center and Newton Highlands Neighborhood Area Council. The 5K Road Race...