Word: exempt
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Harvard wanted to tear down the structure and put up 40 apartment units for graduate students, of which the University argued 36 should be exempt from rent control...
Cambridge rent control law mandates that any one-, two-, or three-family house is exempt from rent control if it is owner-occupied. Should any property become inhabited by its owner, it is automatically decontrolled. This exemption is not new; it has been part of the ordinance since it was instituted 15 years ago. Once an owner lives in the property, he may do whatever he chooses with the house--rent below market rates, at market rates...
Harvard and other educational lobbies argued against any cap on tax-exempt bonds. John Shattuck, vice president for government and community affairs, said the limit was unfair because it makes it much more costly for private universities to raise capital than for public schools, which the legislation would not affect...
Despite their large endowments, major universities invest rather than spend their gifts, Davie said. "Harvard keeps the money [it gets from donors] and invests it at 12 percent, and borrows at 8 percent in the tax-exempt bond market rather than use the money people gave them," he said...
Police officers, mailmen, and certain operators of delivery vehicles will be exempt from the law. But firefighters and taxicabs will be subject, and taxis will forced to install seat belts, said Grossman...