A list of the 25 houses and their tenants is printed in the box at the left.

Several faculty members currently pay rents significantly below market value for houses owned by the University.

Administration officials admit that as many as 8 of the 25 faculty tenants pay monthly rents lower than those for comparably priced houses, but would not disclose what rents are actually paid.

In an attempt to remedy the situation, the University has decided to embark on a wholesale divestiture plan which will put an end to rent subsidies.

Administration officials said last week that Harvard will offer current faculty tenants first crack at purchasing the houses. According to Cambridge tax assessment records, all the homes are worth over $50,000, and some are worth upwards of $100,000.

After selling the homes, however, Harvard will retain first rights to repurchase the property if the new owner ever decides to sell.

The divestiture plan, first outlined in the Daly Report to the Cambridge Community last year, represents a dramatic turnabout from the mid-sixties, when the Pusey Administration engaged in a residential buying spree.

The Daly Report says that "Harvard wants to divest itself of residential property not essential to its own needs"; however, the buy-back agreement serves notice that the University also wishes to retain control over who lives in the houses, all within walking distance of the Yard.

The 25 single-family homes house faculty and administrators including President Bok, President Horner, and three University vice presidents.

The divestiture plan, scheduled for implementation by June 1974, apparently will not include houses used rent-free by Bok, Horner, or Krister Stendahl, dean of the Divinity School.

The planned property sale gives the appearance of a conflict of interest because Bok and three of his vice presidents--Charles U. Daly, Hale Champion, and Chase N. Peterson '52--all live in University-owned houses.

The only other person with significant input into the sales decision is Stephen S.J. Hall, vice president for Administration. Hall lives in a privately owned house.

At least one administration official admits to the existence of a conflict of interest. Daly, vice president for Government and Community Affairs and author of the October 1972 report to the Cambridge Community, said: "We can't just rely on the extraordinary character and virtue of those deciding."

Daly suggested that the Cambridge Corporation, an independent organization funded jointly by Harvard and MIT, be consulted on the divestiture plan. "This may stir up the troops around here," he said, "but I feel it is a perfectly legitimate role for them to have."

Any mention of conflict of interest strikes a tender chord with other University vice presidents. "Steve Hall is in charge," Champion said. "He makes recommendations to the Corporation and the Corporation will decide policy. Particularly because I am a renter, I am glad to stay out."