Word: taxing
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Dates: during 1980-1989
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Harvard paid the final installment on its $969,170 in-lieu-of-tax payment on June 13, in accordance with the terns of a 20-year old agreement that expired last year. Harvard and Cambridge are currently negotiating a new agreement for the voluntary payments, which compensate the city for Harvard's tax-free academic facilities...
Harvard officials have said that the University considers the current in-lieu-of-tax agreement fair and that it is willing to extend it. However, many city residents have complained that Harvard does not do enough for the city to justify the tax breaks it receives...
City Council candidate Jonathan S. Myers, for example, estimates that Harvard's annual payments, based on the value of its tax-exempt land, should be closer to $6 million...
...University officials claim that Harvard is paying its fair share of the tax burden. Director of Planning Kathy Spiegelman said that Harvard decided to make the payment as a show of good faith to city, despite the agreement's expiration...
...revitalization. Critics charge that the city's money could be better spent elsewhere. Protesters disrupted Mayor Andrew Young's opening address by chanting "Atlanta keeps the homeless underground." But if the project succeeds, it will create 3,000 new jobs and generate $5 million a year in additional tax revenues...