Word: parcells
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When Harvard’s purchase of a 30-acre tract in Watertown sparked outrage from neighbors, University officials negotiated an deal that guarantees Watertown an annual payment of $3.8 million—no matter how much of the parcel Harvard takes off the tax rolls. In Boston, where Harvard holds more than nine times as much land—and is currently hammering out a deal to buy even more—the University pays only $1.6 million in PILOT. Much of Harvard’s holdings in Boston are still on the tax rolls, and Harvard...
...DISTRIBUTION FUND. This fund, held by the Securities and Exchange Commission (SEC) and administered by a federal court appointee, will parcel out the nearly $400 million pot to investors who bought certain stocks--including AT&T, Global Crossing and Worldcom--through certain investment firms. A fund administrator will determine who can make a claim, and details will be posted on the SEC website sec.gov) Setting up a distribution plan could take a year. After a plan is announced, investors should have several months to respond. It's not clear whether mutual-fund investors, who lost plenty, will get anything...
Cutting a deal that clears the way for Harvard to purchase a 91-acre parcel of land in Allston, the Massachusetts Bay Transport Authority (MBTA) tentatively agreed on Thursday to drop its eminent domain claim on part of the land. But the deal is not a complete victory for the University—if it does purchase the land under these new stipulations, Harvard will have to plan around the train tracks and storage facilities that currently reside there...
...deal, which Harvard lawyers and state transportation authorities will review over the next few days, would transfer easements currently held by CSX, a private freight carrier, to the MBTA—giving the transportation agency rights to the land if CSX abandons the easements they currently hold on the parcel...
...concerns that we are not complying with the letter of the law in not having public meetings and not having minutes,” he said. “And unless this deal is in black-and-white, I still have questions about what will be done with this parcel...