Word: coffman
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...mystery backer behind Samuel P. Coffman's bid to outmaneuver Harvard for purchase of the Bennett St. MTA Yards was identified yesterday as a nationally-prominent multimillionaire New York City real estate developer or financier who graduated from Harvard but now seems alienated from the University...
...could disclose the backer there would be no question of my getting the bid," Coffman added. So far Coffman has refused to disclose his financial support to the MTA Board of Directors who must decide on a buyer. However, according to MTA officials, the Board will not necessarily demand such information before reaching their decision...
...Coffman's bid of $2 million plus at least $5.6 million in relocation costs for the MTA is more than $2 million higher than Harvard's $5,010,000 bid. However, the MTA Board is not bound to accept the highest bid. Many sources feel that Coffman's high bid will not be accepted since the MTA cannot be sure that his development plans are fully responsible...
Reportedly, Coffman has been negotiating with a large discount house. Other Coffman plans include a Howard Johnson restaurant and motel, apartment and office buildings and a mammoth underground garage. Such plans would involve a zoning change from the Cam- bridge Zoning Board...
...other developments, the MTA put an additional 61,000 square feet of Bennett St. land up for sale. The additional land forms a strip down the center of the Yards. MTA officials expect both Coffman and Harvard to raise their bids for the new land. The new land offer could be seen as an effort by the MTA to force Harvard to raise...