Word: landed
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Dates: during 1950-1959
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...last year's bad joke has become enough of a threat to arouse widespread concern and organized opposition. The proprietor of the scheme claims that whether the platform is used for industry or apartments it will considerably strengthen the city's tax base by, in effect, adding taxable land to the map of Cambridge. At the same time the artificial peninsula would enliven the city's skyline, he says...
Despite the tragedy. Cushing was obsessed with opening a ski area, went into partnership with Airman Poulsen to develop Squaw in June 1948. Poulsen supplied the land-640 acres-and Cushing the money-$400,000. Alec and Justine invested $145,000 of their own, got $50,000 from Laurance Rockefeller, the rest from other friends...
Poulsen and Cushing had differences almost from the start. Cushing allowed Poulsen to reserve 42 acres of land for homesites, found belatedly that Squaw Valley Development Corp. was left with only six acres of level ground. Cushing wanted to operate restaurant, bar and lodging facilities at Squaw. Poulsen wanted to lease them out. Cushing went ahead anyway, bought a set of old Air Force barracks, had them trucked into the valley, put the corporation in the hotel business...
...result was inevitable, since Cushing owned 52% of the stock, his friends another 46%. After an audit showed nothing legally wrong, Cushing replaced Poulsen as president of Squaw Valley Development. Today, a bitter Poulsen still controls choice homesites in the valley (and stands to become a millionaire with the land boom caused by Cushing's getting the Olympics), but Cushing and the corporation have exclusive ski rights, since they possess the only lift permit allotted to the area by the U.S. Forest Service...
...housing program. Instead, Congress is moving in the direction of handing out $5 billion of mortgage insuring authority for the rest of this fiscal year, $5 billion for next. Nearly dead too, is Ike's idea of cutting out public housing authorizations, of raising the local share of land costs in urban renewal. Democratic housing leaders last week predicted: 1) authorization of 17,500 more public housing units, 2) a six-year, $350 million-a-year urban renewal program, with the Federal Government still paying two-thirds of the cost instead of the gradual reduction to 50% asked...