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Boston developer and attorney Samuel P. Coffman revealed last night that he would sell or lease the University a large portion of the Bennett Street MTA yards if his bid on the property is accepted by the MTA Board of Trustees...
Coffman claimed last night that his proposal would provide the city with more taxable enterprises than that of any of the other three bidders. He also claimed that his bid of $2.3 million dollars plus the cost of re-locating the MTA facilities now occupying the property actually amounts to the largest sum offered for the property. Coffman estimates that the cost of re-locating the facilities would be approximately $5 million...
Roche may still hope that a large out-of-town developer will take over his bid and pay the MTA $6 million...
Several officials believe that the MTA will probably reject all the bids and then try to talk the University into raising its price. Edward J. McLaughlin, the MTA's general counsel, has repeatedly stressed that the MTA "reserves the right to reject all bids...
McLaughlin has reportedly said that he believes the Yards are worth considerably more than $5 million, but the City of Cambridge may put heavy pressure on the MTA to sell the property even at that price