Word: watertown
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...dollar amount in the Watertown agreement is significant because it represents a payment about equal to the Arsenal’s full taxable land value...
Harvard agreed to the current arrangement in 1990. That agreement served as the framework for the Watertown deal, but now both Sullivan and Galluccio hope Harvard’s dealings in Watertown will serve as the “benchmark” for future negotiations between Cambridge and the University...
...hope is that Harvard is planning to use Watertown as a new baseline for renegotiating our PILOT agreement,” Galluccio says. “My hope is that Harvard is immediately going to contact city officials...
...Harvard officials say the Watertown agreement represents a special case, since Harvard’s holdings constitute about one-third of that town’s tax base and were purchased in one fell swoop. An agreement like the 1990 deal would have had catastrophic effects on Watertown’s city budget...
...agree with our counterparts who were negotiating for Watertown, that the case of the Arsenal was different,” says Harvard’s Associate Vice President for Planning and Real Estate Kathy A. Spiegelman...