CAMBRIDGE, MA-A group of residents who oppose Lyme Properties' $400-million mixed-use project being developed in Kendall Square respond to a lawsuit by Lyme Properties. The company contends that the residents' continuous opposition to the project breaks an agreement the developer had with the residents.

BOSTON-The state House of Representatives approves a bill allocating nearly $30 million in funding to the proposed convention center here. The money will enable the center to restore important design features that will improve its marketability.

BOSTON-Saunders Hotel Corp. nails down its financing for its $50 million redevelopment of the former police headquarters here on Berkeley Street into a 200-room hotel. The company did not release details of the financing package but acknowledge that it is unconventional.

DANVERS, MA-This area could be home to yet another semiconductor company as sources tell GlobeSt.com that California-based Applied Materials is close to a deal to lease a 290,000-sf building here. The building, which formerly housed Osram Sylvania, is currently being renovated.

BOSTON-The Lafayette Corporate Center is reportedly close to being sold. The redeveloped office building was sold at a foreclosure auction four years ago for $17 million but reports indicate that the building could go for as much as $140 million.

WESTFIELD, MA-W.P. Carey & Co. acquires two facilities here from Jen-Coat for $11.5 million. The facilities are fully occupied by Jen-Coat and the packaging manufacturer will lease back the properties under a 20-year lease.

CHELMSFORD, MA-Tellabs halts its plans to open offices here and to hire additional employees in this state. The telephone network equipment maker is another in a long list of companies in its industry--including Lucent and Nortel--to cope with reduced demand for their products.

WORCESTER, MA-Developers of a mall project here on Lincoln Street are cited by the State Department of Environmental Protection for wetland violations. The developers, Worcester Lincoln LLC, have been targeted by the DEP and by the Worcester Conservation Commission before and could face heavy fines.