Word: kraetzer
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...Kraetzer concedes that at the time Harvard was "not in any hurry" to sell the land. "We wanted to give it some exposure," he says...
Eugene G. Kraetzer '29, who worked on the deal as assistant secretary to the Corporation, says that Land-Vest was the only buyer "prepared to make a purchase in line with what Harvard wanted to accomplish." What Harvard wanted to accomplish, he says, was getting the most amount of cash for the land and the least amount of development...
There is some disagreement about why the deal with Cohn fell through. "Cohn never made us an offer of any kind," Kraetzer says emphatically. "He talked about things, but there was never any concrete proposal. We felt that he was not-I won't say not responsible-but it was perfectly obvious he was not serious...
...apparently, Harvard waited too long. Kraetzer says his expectations of what the Corporation could get for the land plummeted because of two developments-the decline in the state of the economy, and the introduction of legislation that he claims posed a serious threat to development on the property and scared off potential buyers. But island residents claim that everyone knew the bill, which was introduced by Sen. Edward M. Kennedy '54 (D-Mass.), had no chance of passing in its original form...
...deal with Land-Vest was handled solely by Kraetzer and former treasurer George F. Bennett '33 and did not come before the full Corporation until after the land had already been sold. George Putnam '49, grand-nephew of Charles Russell Lowell Putnam and the man who took over as treasurer in July, 1973, says the matter should have come before the Corporation before the sale and adds that it will almost definitely come up in the Corporation's meeting today...