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Boston College to Buy Archdiocese Property for $107M

BOSTON-The Archdiocese of Boston is selling Boston College part of its campus in Brighton in a deal that will ultimately cost $107 million. The sale is part of an effort to pay off the church's $85 million settlement it reached with victims of sexual abuse by clergy.

By Naomi Grossman | Updated on April 21, 2004

BOSTON-The Archdiocese of Boston has agreed to sell Boston College part of its campus in Brighton, which is adjacent to the college, in a deal that will ultimately cost $107 million. The deal involves 43 acres which includes the former archbishop’s residence. Boston College will pay $99.4 million for the site. The Archdiocese has also agreed to sell the Catholic college the three-acre Lake Street Tribunal property in two years for $8 million.

The agreement also includes two additional proposals involving the Brighton campus and the Chancery and St. John’s Seminary properties on it. If the Archdiocese of Boston decides to sell the remaining Chancery property within the next ten years, Boston College is required to purchase the property for $20 million. Similarly, if the St. John’s Seminary property were to be sold within the next ten years, Boston College would be required to buy that property for $40 million plus a cost of living adjustment over the last five years of the agreement. At the end of the respective option periods, Boston College would no longer be required to purchase the properties at the set price, but would still retain the right of first refusal regarding any future sale of the properties.

About four months ago, the Archdiocese announced plans to sell 28 acres of its campus to pay off the $85 million settlement it reached with victims of sexual abuse by clergy.

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