Word: mta
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Harvard bid more than $1 million above the highest estimated fair market value of the Bennett St. MTA Yards, University officials revealed yesterday...
Controversy over the sale of the Bennet Street MTA Yards continued yesterday in the halls of the Cambridge City Council chamber. Councillor Daniel J. Hayes re-iterated his proposal that the city give the Sullivan-Chase Construction Co. $1 million, but Councillor Alfred E. Vellucci concluded that the Yards would eventually be sold to the University...
Hayes submitted an order to the Council requesting the Board of Assessors to "evaluate all of the bids submitted to the MTA..... having in mind the stated pledge of the Trustees of the MTA that final acceptance of any offer made for the purchase of said land would be in the 'best interests of the City of Cambridge and its future development.'" The order was passed with little discussion...
...speculation over the Roche bid continues. Roche has been requested to appear before the trustees of the MTA today with a complete set of proposals showing his client's intended use of the land. Further speculation has ensued over the identity of Roche's client...
...MTA has reserved the right to accept or reject any of the bids for the now tax-exempt land, and it seems very unlikely that Roche's client will be awarded the sale. The City Council will support whichever will bring the greatest amount of revenue to Cambridge, but MTA officials apear more interested in the feasability of the various proposals and the immediacy of payment...