The Boston Redevelopment Authority has converted its 108 property leases into digital files and is preparing to audit if it has received all of the money it was owed after a scathing report last year faulted the agency for losing track of delinquent rent payments and having no centralized way to track them.
Some 100,000 pages of lease documents — most of them with tenants of BRA-owned property at the Marine Industrial Park in the Seaport District and the Charlestown Navy Yard — have been scanned and will be entered into a property management system the BRA has purchased.
The system will send agency staffers automatic reminders when lease payments are due, when deals are expiring, and if tenants owe money and are up to date on insurance. Previously, the complex lease agreements were only on paper and housed in a variety of locations.
"It's going to bring us into the 21st century," BRA Comptroller LeAnn Coleman said. "We're going to be able to proactively manage it to look at what leases have option dates that are upcoming, so we can make better decisions about what's happening with our lease portfolio."
The agency, for instance, will be able to use the system to ensure new rental rates are negotiated in advance of leases expiring, Coleman said.
In an audit last year, accounting giant KPMG found that the BRA and its subsidiary, the Economic Development Industrial Corp., had allowed a combined $5.1 million in delinquent rent to go uncollected as of last April because of the agency's lax, archaic record-keeping. By November, the BRA said it had brought the outstanding rents down to $950,000.
The audit also faulted the agency for not having a "central repository" for its documents and for lacking "internal controls" and standard business "document protocols."
The new system — which the BRA will pay $30,000 a year to license, in addition to startup costs — will also allow the BRA to easily track the hodgepodge of different payment clauses contained in leases.
Once the system is up and running, Coleman said the BRA will perform an audit to ensure it is properly billing for and collecting all payments.
"There will be no detail left unturned, believe me," Coleman said.
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