New 750k House for the President

[BlueDogs]

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Apparently the President’s old house built in 1940 is suddenly past its useful life. How about he sucks it up or buys his own?. This from the school on its knees with no money. Apparently, it will cost a million to fix the old under creative cost justification accounting. Unreal.

 

[Kolumbo]

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Apparently the President’s old house built in 1940 is suddenly past its useful life. How about he sucks it up or buys his own?. This from the school on its knees with no money. Apparently, it will cost a million to fix the old under creative cost justification accounting. Unreal.

I was just reading about this. This is a bargain for a new president of one of the nations top universities. Absolute bargain. UConn was already leasing the building and paying taxes and fees on it. I'm suprised UConn didn't spring for a home twice as much. Plus...

"UConn said no taxpayer money or tuition funds will be used to buy the property. Instead, the school will use funds generated from rental and other income from university-owned real estate.

"The university purposely funded the purchase of the home in this manner so no funds would be diverted from other university operations for this purpose, including academics," UConn spokeswoman Stephanie Reitz said."

 

[huskyrob1]

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Apparently the President’s old house built in 1940 is suddenly past its useful life. How about he sucks it up or buys his own?. This from the school on its knees with no money. Apparently, it will cost a million to fix the old under creative cost justification accounting. Unreal.

Talk about misinformation. Well here goes, actually the real estate part of UConn does have money and quite a bit, thanks to all of Uconn's rental properties. It's been very profitable for the school. The house being given to the new president has been rented, managed, and maintained by the University for many years from the Lodewick family, the family approached the school with a sell offer and the owners and the school agreed to a price of $740,000 IIRC. The one Susan Herbst now lives in is the one that needs all the work. The roof leaks, plumbing repairs are needed etc. It's a slate roof too so it will be mega bucks. The BOT thought that it would be cheaper right now to give Dr Katsulas the Lodewick house than to spend $2,000,000 to fix Herbst's house. Bottom line, the BOT thought it more prudent to spend $2,000,000 on "other things" than to fix Susan Herbst's leaky roof. Trust me it's closer to $2,000,000 than $1,000,000.

 

[Da_Aisijimo_Gou]

New President Residence

University to purchase a new president residence due to the cost to update existing property. https://boardoftrustees.uconn.edu/wp-content/uploads/sites/1799/2019/06/Att.-25-88-Gurleyville-Road-Final.pdf

the-boneyard.com

 

[whaler11]

Yeah there isn’t anything to complain about here.

 

[Fishy]

We should lease a Winnebago and make him live in X lot.

 

[LoyalFanCT]

I wouldn't focus on the UConn president's house -- wait until the basketball fans start demanding the quarter of a billion dollars to fix the XL Center. It may end up being more. And right now, it's largely to benefit the UConn basketball programs. There are other venues in Hartford for conferences and trade shows. Unless, CT can somehow get a professional indoor sports team to play in Hartford, how is this supposed to pay for itself?

 

[Duncan Idaho]

They put a million into it before Hogan.

 

[EJHarrington]

Whenever UCONN or some other quasi public entity spends money foolishly, their supporters always justify it by saying the money is coming from somewhere else other than taxpayers. It is not true. That rental income could otherwise be used to reduce taxpayer subsidies.

 

[GridironGR8]

I see there are a few bargains up in Rolling Hills in the 25K+ range. Great location along the entrance to campus on Route 44. Convenience to Hartford as well.

Yeah. $750K for a major university president's home is nothing to complain about. Sounds like a pretty standard price to me.

 

[CL82]

Anyone have a link to the property they are buying?

 

[PopcornHatKid]

88 Gurleyville Rd, Storrs Mansfield, CT 06268 | realtor.com®

See sales history and home details for 88 Gurleyville Rd, Storrs Mansfield, CT 06268, a 5 bed, 6 bath, 5,194 Sq. Ft. single family home built in 2001 that was last sold on 09/27/2019.

www.realtor.com

Anyone have a link to the property they are buying?

 

[ConnHuskBask]

Is this standard practice at other universities? The person making the most money (besides basketball/football coaches) gets their housing paid for? Odd.

 

[huskymedic]

Is this standard practice at other universities? The person making the most money (besides basketball/football coaches) gets their housing paid for? Odd.

Quinnipiac University president’s home being renovated for nearly $1M

>>Quinnipiac bought the property for $6.5 million in April 2018 after announcing Olian would succeed former President John Lahey. It’s previous owner, Frank Perrotti Jr., died Dec. 10, 2016, and the school named its hockey arena and men’s locker room for him.<<

>>“University presidents of today are expected to spend a great deal of their time fundraising and engaging in community outreach so the institution can continue to invest in the high-quality academic programs and services that develop our students. This residence serves that purpose,” Weldon said.<<

 

[TRest]

Is this standard practice at other universities? The person making the most money (besides basketball/football coaches) gets their housing paid for? Odd.

I think it's a standard perk for all major universities and private colleges. The head coaches get numerous season tickets for sporting events, free cars, etc.

Is this the same house the university started renting when the president prior to Suzie claimed his wife couldnt live in the old president's house due to allergies?

 

[Fishy]

Is this standard practice at other universities? The person making the most money (besides basketball/football coaches) gets their housing paid for? Odd.

The house is usually an extension of the office - a lot of fundraising and events will take place at the house of the president. You're not hiring a superintendent to run a high school here, you're hiring a person to oversee a billion dollar-plus operation.

 

[Da_Aisijimo_Gou]

Is this standard practice at other universities? The person making the most money (besides basketball/football coaches) gets their housing paid for? Odd.

Odd? No, typical at similar large public universities.

 

[CL82]

I see there are a few bargains up in Rolling Hills in the 25K+ range. Great location along the entrance to campus on Route 44. Convenience to Hartford as well.

Yeah. $750K for a major university president's home is nothing to complain about. Sounds like a pretty standard price to me.

It's a pretty standard house. But I agree it is adequate for what we need. It's a little dated though, which means we'll be updating it in a few years.

 

[Pudge]

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Apparently the President’s old house built in 1940 is suddenly past its useful life. How about he sucks it up or buys his own?. This from the school on its knees with no money. Apparently, it will cost a million to fix the old under creative cost justification accounting. Unreal.

Housing often comes with being a University President. You cannot ignore standard Academic packages. The HOUSE is for entertaining donors & fundraising; thus, this is an important functional part of the University. More than 40 years ago.

 

[ConnHuskBask]

Got it. I wasn't so much saying that UConn doing it was abnormal. Just thought the practice in general is kind of weird.

 

[Da_Aisijimo_Gou]

Got it. I wasn't so much saying that UConn doing it was abnormal. Just thought the practice in general is kind of weird.

Perhaps, if fundraising by senior executives and compensation and benefits were somehow inexplicably considered weird for an employed person.

 

[ConnHuskBask]

Perhaps, if fundraising by senior executives and compensation and benefits were somehow inexplicably considered weird for an employed person.

The UConn President is going to making upwards of $1M dollars a year - which I assume is in line with other major state universities.

Just odd to me they get a house on top of that for a job that amounts to shaking a few hands and spending other people's money.

 

[Jaybird65]

Is this standard practice at other universities? The person making the most money (besides basketball/football coaches) gets their housing paid for? Odd.

Yep, common for University President's to have housing provided.

 

[EJHarrington]

Providing a mansion to her did not prevent Herbst from overseeing the destruction of our football program. She might as well have lived in a trailer

 

[Kolumbo]

T

Whenever UCONN or some other quasi public entity spends money foolishly, their supporters always justify it by saying the money is coming from somewhere else other than taxpayers. It is not true. That rental income could otherwise be used to reduce taxpayer subsidies.

The house was already a current expense of the U. This is just a lease vs. buy decision.