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Article: $6M deal ends campus loan fight: University Heights Association agrees to pay Silverman Foundation and give away some land under settlement.
- Article from:
- Times Union (Albany, NY)
- Article date:
- March 29, 2007
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Byline: Brian Nearing
Mar. 29--ALBANY -- A settlement announced Wednesday ended a long-running financial dispute between the University Heights Association, a group of schools clustered around Albany Medical Center, and a foundation of their one-time benefactor, the late millionaire Marty Silverman.
Under the agreement, the Marty and Dorothy Silverman Foundation dropped claims that it was owed $24.9 million by the University Heights group for loans that Silverman made in the decade before his death in January 2006 to help create a 32-acre academic commons off New Scotland Avenue for use by the schools.
University Heights will pay the Silverman ...