Coffman Says He Will Get MTA Yards

"It is a reasonable assumption that I will get the Bennett St. MTA Yards," Samuel P. Coffman, Boston banker and investor, told the CRIMSON yesterday.

Coffman added that "the MTA Board should be as convinced as anyone can be convinced that my bid is serious."

However, Edward F. McLaughlin, Jr., general counsel of the MTA and the key man in choosing the buyer, said yesterday, "I am not sure that any of the private bids are responsible."

Harvard vs. Harvard?

So far the highest bidder, Coffman has refused to identify publicly his financial backers. One reason may be that Coffman's backers include Harvard alumni who want to avoid being publicly identified as bidding against the University.

"No one wants to mention names. Since Harvard is involved," said Coffman. "Harvard graduates do not want to bid against Harvard," he added.

Coffman's bid of $2 million plus a minimum of $5,600,000 in relocation costs for the MTA system is $400,000 higher than the nearest private bid and over $2.5 million above Harvard's bid of $5,000,000.

Although Coffman feels his top bid makes him the leading contender for the land, the MTA board of directors is not obligated to sell the land to the highest bidder. Coffman admitted that the Board could sell the land to Harvard "for the reasons."

Decision in March

A final decision of the directors should he made by late March according to McLaughlin. "We have to cut the Gordian Knot pretty soon; those bidders have had plenty of time by now," he said.

If Coffman is chosen by the Board, he has proposed to "make up to 40 percent of the land available to Harvard," presumably for construction of a tenth House. However, whether the land would be sold or leased to the University would be "subject to negotiation," Coffman stated.

Harvard officials believe that Coffman might charge the University an exorbitant price for the acres it wants, a price the University probably would not pay.

Coffman plans to develop the land with an apartment house, a Howard Johnson motor lodge and restaurant, an office building, and a mammoth underground garage. The plane would involve an exemption from zoning regulations. Coffman is confident he can get a change approved. However, the Cambridge Planning Board has refused to make any changes until "an owner" is chosen.