Word: schmidts
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...Schmidt would not specify the nature of the legal complications preventing completion of the deal...
...Schmidt said that Stephen S.J. Hall, vice president for Administration, has been working on "several areas of prime concern to the University," including relocation of the Continental's tenants and employees, and payments to the City of Cambridge in lieu of taxes...
...profit institution, Harvard is exempt from property taxes. Rather than simply removing the Continental from Cambridge's steadily shrinking tax rolls, Harvard plans to work out an arrangement with the City to insure continued revenues, Schmidt said...
...Schmidt also indicated that Harvard may be able to employ other displaced Continental employees...
...Schmidt said the University expects to convert the building into a dormitory to house up to 176 students. Details concerning who will reside there and exactly what sort of renovations will be made will be released when the transaction is completed