Word: mta
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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...
Coffman, a Boston developer, has refused to reveal his anonymous supporter either publicly or to the MTA Board of Directors. Coffman's bid is at least $2 million higher than Harvard's $5,010,000 offer. He has claimed "my development plans will run as high as $100 million...
...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...
...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...