This page contains a single entry from the blog posted on January 11, 2011 2:41 PM. The previous post in this blog was Bull in the china shop. The next post in this blog is Stillborn pipedream. Many more can be found on the main index page or by looking through the archives.

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Tuesday, January 11, 2011

The kids are all right

There's a fascinating little real estate scam in progress down in Eugene, involving one of the usual suspects. And the young folk down that way are blowing the whistle on it rather nicely:

Students, alumni, and local taxpayers will be handing out "blank checks" Wednesday, January 12 at the Jaqua Academic Learning Center (13th Ave. & Agate St.) before the University Senate meeting begins at 3:00pm.

The checks will be given to administrators and Senators before entering the meeting to bring attention to the fact that the University has made a deal with a Texas-based developer to lease public land next to the Willamette River for less than 10% of its fair market value. The developer has plans to construct a controversial office building and surface parking lot on the land for the Oregon Research Institute.

Documents obtained by Connecting Eugene, a local group opposed to the development, reveal that the University would receive a one-time payment of $1.46 million from the Trammell Crow Company to lease approximately 4 acres of land for 55 years. A study commissioned by the University in 2004, however, determined that the property could be leased for more than ten times that amount. Also, the university will incur additional costs to build infrastructure for the development, ultimately resulting in a net loss to the university.

A reader who tips us off to the story says of the protesters, "I like their style." So do we.

Comments (6)

Speaking from experience, that's more of a bad deal than you know. Trammell Crow himself was a very interesting man (if you're ever in Dallas, check out the Crow Museum of Asian Art located in the Art District downtown), but the company's run by his son Harlan. When it comes to insanely greedy deals and entitlement temper tantrums, well, he's the guy who taught Merritt Paulson everything he knows. (Out here, referring to him as "crap wrapped in human skin" is considered unfair, because we're all fairly certain that nothing human has touched him for years.)

Well this just proves we should pungle up a few billion for Richard W. Lariviere to "invest" without all that pesky oversight.

I'm sure they whispered the words "Green" and "Sustainable" in their ears to get that deal.

And the sports academy that has a business school is teaching the students how it is done. Ya baby!

Darrin nailed it. In this Register Guard Op-Ed ORI guy Tony Biglan talks about his plans to take photovoltaics away from needy, sunlit Haitians and slap them on his new building in rich, rainy Eugene.

Cush facilities for football players, ever increasing tuition + fees for the unprivileged masses and outdated facilities across campus but still the university is willing to practically give away riverside property to out-of-state barons. Pathetic. Go Ducks!

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