Word: mta
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Hopes for quick sale of the MTA's Bennett St. Yards took another nose-dive yesterday as MTA General Manager Thomas J. McLernon, left for a month-long vacation in Florida. Sale of the Yards to any of the top bidders will not be arranged while McLernon is away...
Reliable sources are increasingly pessimistic about chance for sale of the Yards for at least two years. It is possible that the MTA's Board of Trustees will not take any action at all on the present bids for at least 18 months...
...MTA was reportedly disappointed by the University's bid of slightly over $5 million, but several of Boston's most reliable real estate developers have continued to assure Harvard officials that their bid is more than $1 million above the land's fair market value...
Presently, the MTA can gain nothing from moving its switching and storage facilities to Codman Sq. and will not be forced to move unless the Authority takes over the Old Colony railway line. Any such action is at least two years in the future...
...MTA turns down Harvard's bid and sells the Bennett St. yards to a private developer, the University would be willing to buy land but not to lease it, L. Gard Wiggins, administrative vice-president, told the CRIMSON Wednesday...