Word: arsenals
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Harvard's recent interest in buying the Arsenal on the Charles, a Watertown office complex, has justifiably startled the Watertown community. Though Harvard desperately needs space and has been constantly expanding, Watertown also relies heavily on the tax revenue from the Arsenal complex. As a non-profit organization, Harvard would be protected from paying tax on the property by Massachusets law. In fairness to the town, if Harvard decides to purchase the Arsenal, the University should negotiate a generous payment-in-lieu-of-tax (PILOT) agreement with Watertown...
...community stands to lose $3.5 million of its total $68 million revenue base if the property is converted to non-profit status. Needless to say, a small community like Watertown cannot afford to lose nearly 5 percent of its tax revenue in one fell swoop. The town converted the Arsenal property into a business complex in 1998 and was anticipating a large amount of tax revenue from the site, after receiving nothing in taxes from the property during its past 200 years as a military base. Without the planned revenue, the town says it will be unable to complete projects...
Even though the U.S. is "nowhere near as focused on Russia as we were on the Soviet Union," according to Woolsey, potential dangers still loom large. The biggest concern remains the Russian nuclear arsenal, which could still be lethal, especially if it falls into the wrong hands. But American national-security officials today also focus on terrorism, narcotics trafficking and other threats. Russia plays a direct or an indirect role in several of these areas, and the U.S. wants to keep tabs on what it's doing and what it knows...
...missile defense, the Bush administration is in danger of sacrificing America's real diplomatic assets to an infeasible defense system. Since the beginning of the Cold War, the threat of nuclear war has been countered by the threat of overwhelming retaliation. This principle--as well as the nuclear arsenal that the U.S. retains to enforce it--remains the most effective deterrent to nuclear attack. In contrast, the tests of American anti-missile systems have so far yielded dismal results, with interceptors unable to tell the difference between missiles and simple decoys. No one knows whether it is technologically possible...
Grogan also offered to enter into a Revenue Protection Agreement with the city which "would have as its goal a long-term protection for tax revenues from the Arsenal, even if Harvard eventually chooses to place more of the property in tax-exempt...