HARVARD – The city could pay off its Milky Way Park land loan and turn its attention to improving the space sooner than expected.

The City Council on Tuesday authorized Mayor Jay Nolan to negotiate and execute a perpetual lease with Landmark Dividend for property on Harvard Hills Road. Verizon currently leases the property from the city.

Under the agreement, Landmark would take over the Verizon lease, which has two years remaining, in exchange for paying the city a lump sum of $322,000. That money would allow the city to pay off its Milky Way Park loan.