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MASSPORT AND KRAFT TEAM UP TO SUBMIT MEGAPLEX PROPOSAL
Published June 23, 1995
The MA Port Authority, Patriots Owner Robert Kraft and developer Lehrer McGovern Bovis yesterday pitched a plan to help build the megaplex, according to a front-page piece in the BOSTON HERALD. The proposal includes a cap on costs and covers "infrastructure improvements, predevelopment costs and private financing." Massport Exec Dir Stephen Tocco estimated the values of infrastructure improvements, parking, land assembly and land at "well over" $200M. (Tom Nutile, BOSTON HERALD, 6/23). In return for investing in the megaplex, Kraft wants "development rights" on Massport property near the site and to run the domed stadium. Tocco noted the deal to cap costs and Kraft's commitment would minimize public investment in the project and reduce the financial risk for taxpayers (Vaillancourt & Kindleberger, BOSTON GLOBE, 6/23).