In-Lieu-of Payments

The University presented in-lieu-of-tax payments totalling $507,000 to the city of Cambridge last Monday, fulfilling its 1975 obligation.

Payment made to the city for taxable properties earlier this year, totalling $963,206, brings the total tax/in-lieu-of-tax figure to $1,470,206.

Hale Champion, financial vice-president, said last night this year's in-lieu-of-tax payment represents only a minimal increase over last year's figure, and added that there may be a slight increase again next year.