Word: upkeep
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Dates: during 1970-1979
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...million cost overrun, although not a University debt, has severely strapped the Design School's maintenance budget. Gund hall is not a typical Harvard building-money was raised to pay for the building, but not for its upkeep...
...suffered financially from cutbacks in the Faculty's budget is likely to look upon the Science Center as a symbol and source of economic woes. For although the entire cost of building the enormous structure came solely from capital amassed from contributions outside of the Faculty budget, the yearly upkeep of the building--expected to total about $1 million--will come exclusively from the Faculty budget...
...find a way to make up for the new debt. Leaky said that this money will be obtained through a "general trimming down" of Faculty expenditures--most likely in areas like Buildings and Grounds rather than teaching fellows' salaries. The greatest part of the cost of the upkeep of the Science Center comes from heating, exhaust and other mechanical expenditures--things which can't be cut back on if the building is to be used. The Science Center itself will thus bear little if any of the increased cost it will bring upon the Faculty...
...capital gain-usually one-half his normal tax rate. If he reinvests the entire proceeds in another house or condominium within a year, he can avoid income taxes completely. If he wants to rent out his newly vacated condominium instead of selling it, he gets tax deductions for upkeep and depreciation. Meanwhile, interest charges on his mortgage are taxdeductible...
...find a way to make up for the new debt. Leahy said that this money will be obtained through a "general trimming down" of Faculty expenditures--most likely in areas like Buildings and Grounds rather than teaching fellows' salaries. The greatest part of the cost of the upkeep of the Science Center comes from heating, exhaust and other mechanical expenditures--things which can't be cut back on if the building is to be used. The Science Center itself will thus bear little if any of the increased cost it will bring upon the Faculty...