The University climaxed nearly four years of tentative negotiations today by offering the Metropolitan Transit Authority what amounts to nearly $4,000,000 for its switching and storage yards and adjoining property between Memorial Drive and Mount Auburn St.

Harvard said that it would pay the current fair market value of the land--half a million square feet at about five dollars a foot--plus an additional $1,000,000. This extra sum is "to assist the trustees and the operating management of the system to accomplish the necessary relocation and consolidation of the facilities so as to free land for sale."

Old Colony Line

The MTA is currently debating whether or not to buy the Old Colony railroad line and thus extend its service further into the Boston suburbs. Should this purchase come about, the MTA would be virtually forced to move the present Cambridge yards to a new site, an operation which would entail considerable expense.

If Harvard is able to get rights to the land, it will probably be used for two new residential Houses for undergraduates and probably one or two apartment houses, which would be taxable and thus contribute to strengthening the Cambridge tax base. Along with Quincy House, these two projected Houses would complete the Program for Harvard College project of constructing three new Houses for expansion and reduction of crowding.

Other Interests

It is believed that there are several other organizations besides the University which are also interested in buying the land and it is by no means certain that the University will be able to make the purchase. The Trustees of the MTA and other authorities will meet Monday morning, and some decision may be forth-coming at that time.

Should the MTA decide not to move from the Cambridge yards, it is believed that the University might still be interested in building on some sort of platform arrangement over the yards, which, although extremely expensive, might be preferable to expansion into some rather remote locale, such as beyond Dunster House.