Word: mta
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...Massachusetts Turnpike Authority (MTA) formally approved the sale of 48 acres of Allston land to Harvard for $151 million Wednesday, opening the way for future University development across the Charles River...
...University offered $151,751,636 for all 48 acres of MTA land at a blind auction on June 29, but had to undergo financial verification before the sale could be completed, answering mandatory questions such as whether the University has ever filed for bankruptcy or been convicted of a felony...
University and MTA officials now have 45 days to complete paperwork on the sale...
...MTA officials were enthusiastic about the sale, hoping the funds from Harvard will offset deficits from Boston's Central Artery project--known as the "Big Dig"--which has had massive cost overruns...
...University's bid will now go to the MTA Authority Board, which will most likely approve Harvard as the "highest responsible bidder" at its July 11 meeting, after financial verification is complete...