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Message: [QUOTE="Pudge, post: 3217866, member: 364"] I happen to know something about Public Finance & Tax Exempt Bonds for Development Don’t assume anything by what you just read. The Investment Banker will require a Single Purpose Entity (SPE) and not get wrapped in State or University appropriations crap. When we have done student housing on University land, the outside lead developer is Fee only. A Shell Corporation is set up - often controlled or a subset - by the University Foundation. No University- today (unlike Celeron in 1985) - is gonna let a private company own something on their land. Mansfield? With all the water & sewer issues we know, the University has a sweet situation that they control infrastructure. They also took back approval authority a few years ago from the municipality. What you think ... is just the odd things that happen with Public financings. Read “Power Broker” by Robert Caro on Robert Moses in NYC. Generally ... Tax Exempt rates are so low that the Proceeds are enormous. That also means lots of Fees get paid to the third party development firm & consulting & Attorney. [/QUOTE]