Word: mta
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Statements last week by both MTA and Harvard officials indicated that the chances for a sale of the MTA's Bennett St. Yards to the University have reached a new high...
...Gard Wiggins, administrative vice-president of the University, pointed out last week that the MTA had been evenly divided over the question of selling the land for several years, and that he hoped a strong stand by McLernon might swing the balance...
First Thomas J. McLernon, general manager of the MTA, told Cambridge politicians that he planned to recommend to the trustees of the Authority that the property be sold. Then President Pusey repeated Harvard's offer to buy the land at "its current fair market value plus an additional $1 million...
Pusey called this statement "good news to the University and to the people of Cambridge." He reiterated the University's offer of February, 1959, to pay the MTA $1 million over the market value for the yards...
...answering charges that the University's acquisition of the land would keep it off the tax rolls and thus hurt city finances. Pusey stated that if the University bought the MTA yards, which are now tax-exempt, it could provide needed student housing "without purchasing further taxable land...